Gorilla Technology Group (GRRR) Status update summary

Backlog, pipeline, and revenue guidance

• Signed and contracted backlog exceeds $100 million, forming the execution base through 2026, with revenue guidance for 2026 in the $137–$200 million range, driven by phased ramp-up in Asia, Middle East, and Europe data center programs.

• Actively pursuing a qualified pipeline of over $10 billion in AI infrastructure, national systems, and data centers, with strict criteria for moving opportunities into backlog only upon contract execution.

• Revenue recognition over the next four quarters will follow a controlled ramp-up as milestones are achieved, with early quarters focused on mobilization and engineering, and recurring operations as racks go live.

• Project finance is structured to be non-recourse to the parent, with most funding at the project level and a targeted payback period under three years.

U.S. acquisition, global expansion, and partnerships

• U.S. acquisition process is active but delayed due to government shutdown impacts on procurement and approvals; diligence and compliance remain priorities.

• New U.S. contract wins are being pursued, with announcements expected as deals are contracted; global expansion continues with delivery centers in Asia, Middle East, North Africa, and Europe.

• Strategic partnerships with Broadcom, NVIDIA, HPE, and others support large-scale data center opportunities worldwide.

Major contracts, financing, and customer profile

• $1.4 billion contract is with a Singapore-based contractor for AI data center backbone work; end customer not disclosed, but projects are government-validated and involve advanced NVIDIA GPU deployments.

• Financing for major projects is at final stages, with a focus on non-dilutive, project-level capital; first racks expected to go live in early 2026.

• Customers are typically governments or large corporates with long-term, purpose-built data center needs, supporting strong project finance structures.