Gorilla Technology Group Inc. Q3 FY2023 earnings call

• Innovation is key: The company has been innovating with products and services in areas like Smart City, Industry 4.0, Air Gap Networks, etc.
• Global expansion: Expanded global footprint with teams worldwide synergizing to enhance customer experience.
• Strategic partnerships: Built partnerships with Red Hat, MCS, InfoSec for future endeavors.
• Post-IPO developments: Relocated headquarters to the UK, refined customer profile, and expanded product suite to include cybersecurity and Smart City infrastructure.

For the first nine months of 2023, Gorilla Technology Group's revenue surged to $37.9 million, which is over 2x the same period last year. Gross profit grew nearly 5x to over $29 million, resulting in a gross margin of 76.5%, which is more than double compared to the previous year. Adjusted EBITDA saw a 447% year-over-year growth and turned positive, with an adjusted EBITDA margin of 35%. The total sales signed in the first nine months reached a staggering $300 million, about 441% above internal targets. Revenue contribution: Revenue grew from $18.5 million in the prior year's first nine months to $37.9 million in the current period, representing a 105% year-over-year increase.

• Reiterated full-year 2024 revenue guidance of $90 million.
• Third quarter discounted revenue run rate is about $88 million, setting a confident path to meet or exceed 2024 revenue guidance.
• Expect positive adjusted EBITDA for the year 2024.

• Forward-looking statements are subject to risks and uncertainties as actual results could differ materially from current expectations.
• Factors affecting financial results are included in the company's SEC filings, including risk factors in the Form 20-F.