Gorilla Technology Releases Full Year Audited Financials for 2023

LONDON, May 17, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the “Company”), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today announced the release of its full year audited financials for 2023 on their form 20-F with the SEC.

"We have cemented our position in the AI landscape and this is just the beginning,” said Jay Chandan, Chairman & CEO of Gorilla. “Our outstanding financial performance and momentum aims to set the stage for even greater achievements in 2024, as we have further cemented our position in the AI landscape. With a powerful sales pipeline and a strategy focused on innovation, operational excellence, and unparalleled customer satisfaction, we are poised for sustained growth. We are not just present in one country, a single vertical, or with one client. We have expanded our reach across Southeast Asia, India, the UK and broader EU, MENA, and South America - all in under 18 months. Our strategic AI-driven partnerships and aggressive expansion, including groundbreaking projects such as implementing comprehensive Advanced Video Analytics at Rama Hospital in Thailand, deploying Security Convergence Smart City Solutions in collaboration with the Government of Colombia and advancing smart city innovations through our alliance with Thames Freeport in the UK, have broadened our market presence and technological prowess. Additionally, our partnership with MTI to establish a state-of-the-art manufacturing plant in Egypt exemplifies our commitment to fostering technological advancement and economic growth in the region."

Jay continued, “Collaborations with industry leaders such as Lanner, Hailo, and Red Hat have further enhanced our capabilities, allowing us to integrate cutting-edge AI solutions across various sectors. With Lanner, we launched Security Convergence Devices, leveraging AI for real-time threat detection and advanced analytics. Our partnership with Hailo has resulted in the development of the E-300 Edge AI Appliance, capable of processing up to 24 channels of video analytics, improving inference speed and accuracy. Through our collaboration with Red Hat, we are revolutionizing Smart Government Security Convergence solutions using Red Hat OpenShift for scalable, secure cloud infrastructure. These initiatives strengthen our position in AI and our dedication to delivering advanced, impactful technologies. As we move forward, our commitment to providing exceptional value to our clients and stockholders will drive us to unprecedented heights. And this is just the beginning!"