Gorilla Technology Group Inc. said its unaudited revenue for the six months ended June 30 reached US$78.4 million, a year‑over‑year increase of roughly 99%, and raised its full‑year 2026 revenue outlook to at least US$200 million. The firm also published an initial 2027 revenue target of US$450 million to US$500 million, signalling greater confidence in its AI infrastructure strategy.
What moved the numbers
The company attributed the strong top‑line performance to the earlier‑than‑anticipated delivery of multiple contracted customer programmes tied to AI infrastructure and data‑centre scaling. Gorilla closed the period with about US$179.4 million in cash, up from US$99.5 million at the end of 2025. The increase in cash was primarily driven by financing inflows, the company said.
Profitability and adjusted measures
On an IFRS basis, Gorilla reported an operating loss of approximately US$47.2 million and a net loss of about US$46.9 million for H1 2026, both wider than the comparable H1 2025 losses. The period included non‑cash and one‑time items such as stock‑based compensation of roughly US$25.4 million, US$4.0 million of downward fair‑value measurement effects and around US$2.0 million of debt transaction costs.
Cash flow and operational efficiency
Despite wider IFRS losses, operating cash use improved materially. Net cash used in operating activities fell by about US$8.2 million, a decline of roughly 65%, to US$4.3 million. That reduced operating cash usage as a share of revenue to about 5.5%, down from 31.8% the prior year—an indication that revenue growth has started to outpace operating cash burn.
- H1 2026 revenue: US$78.4 million (up ~99% y/y)
- Cash balance at June 30, 2026: US$179.4 million
- IFRS net loss H1 2026: US$46.9 million
| Metric | H1 2025 | H1 2026 |
|---|---|---|
| Revenue | US$39.3M | US$78.4M |
| Cash (Dec 31 / June 30) | US$99.5M | US$179.4M |
| Operating cash used | US$12.5M (31.8% of revenue) | US$4.3M (5.5% of revenue) |
Guidance and what comes next
Gorilla lifted its Q3 2026 planning range to approximately US$48 million to US$50 million and set a 2027 revenue target of US$450–US$500 million. Those figures reflect an expectation that the company’s AI infrastructure work will scale further across customer programmes.
Investors and industry watchers will be tracking how quickly Gorilla deploys cash into new infrastructure and whether the utilisation of deployed assets grows in the second half of the year. The company’s cash increase was driven largely by financing rather than operating inflows, so sustained margin improvement will depend on converting current contract deliveries into recurring, asset‑utilisation income.
The results highlight a common pattern in capital‑intensive AI infrastructure businesses: rapid revenue growth as projects come online, paired with significant non‑cash and financing‑related items that keep IFRS losses elevated in the near term. For Gorilla, the near‑term challenge is to translate its elevated cash balance and stronger revenue run‑rate into durable operating profitability while meeting ambitious growth targets.
Longer term, the company’s upgraded guidance and 2027 target add to a broader picture of demand for AI compute and data‑centre capacity. Whether Gorilla can sustain the pace of customer deliveries and control stock‑based compensation and other non‑cash charges will determine how investors and partners assess its path to commercial scale.
