Welcome to our dedicated page for Gorilla Technology Group Ordinary shares news (Ticker: GRRR), a resource for investors and traders seeking the latest updates and insights on Gorilla Technology Group Ordinary shares stock.
Gorilla Technology Group Inc. (symbol: GRRR) is a key player in the world of video intelligence and IoT technology, established in 2000. The company offers cutting-edge solutions in video-centric and content management applications. These applications serve sectors such as smart retail, enterprise surveillance, city security, and broadcast media. Leveraging its innovative VEMO technology, Gorilla integrates deep learning algorithms to automate digital stream processing and provide comprehensive video analytics. This adds value to businesses by uncovering new opportunities.
Gorilla Technology is divided into two main segments: Video IoT and Security Convergence, and Other Segments. The Video IoT and Security Convergence segment focuses on providing video intelligence, Internet of Things (IoT) security, edge AI data analytics, and operational technology (OT) security solutions. The Other Segments include additional services that support the company’s core offerings.
Recently, Gorilla has been at the forefront of cyber security innovation with the introduction of its security convergence devices. These devices are designed to enhance operational efficiency and performance through intelligent, edge AI solutions. Gorilla’s commitment to continuous technological advancement ensures that it delivers superior products and services to managed service providers, distributors, system integrators, and hardware manufacturers.
For the latest updates and more detailed information, visit their website at Gorilla-Technology.com.
Latest News:
- Introducing the Future of Cybersecurity: Security Convergence Devices by Gorilla
Gorilla Technology Group (NASDAQ: GRRR) has announced an increase in its share buyback program from $6 million to $10 million, with $3.8 million already used for private share repurchases. The company currently holds $47 million in cash and expects to receive over $50 million in payments by Q1 2025.
The company addressed market concerns, clarifying that recent share count changes (18,464,651 shares outstanding) resulted from previously disclosed preferred share conversions and warrant exercises from 2023-2024 financing arrangements. Gorilla emphasized its diverse contract portfolio beyond the MENA project, highlighting a $93 million backlog and a $2 billion project pipeline.
The company plans to expand to open-market buybacks after the 2024 fiscal earnings release and transition to quarterly reporting in 2025. Management intends to purchase shares when permitted by securities laws.
Gorilla Technology (NASDAQ: GRRR) has signed a landmark MoU with the City of Santa Marta, Colombia, in consortium with NC Digy Smart Cities and AECOM, to transform it into an AI-powered smart city. The 20-year contract represents the first phase of a four-phase initiative aimed at revolutionizing smart cities across Latin America.
The project will implement various AI-driven components including: smart lighting with video analytics and environmental sensors, cybersecure communication nodes, interactive AI kiosks, smart mobility and parking systems, AI video analytics for public safety, and environmental monitoring systems. The company is currently engaging with over 20 cities between the United States and Latin America for similar smart city initiatives.
The initiative coincides with Colombia's largest gas discovery off its coast, which is expected to drive economic growth in the region. As part of the project, Gorilla Technology will also establish smart and green data centers in Colombia to support the region's digital transformation.
Gorilla Technology Group (NASDAQ: GRRR) has announced key updates to its share structure and financial position as of January 3, 2025. The company reports 18,464,651 ordinary shares outstanding, following the complete conversion of all preference shares and the exercise of 2,663,750 Series A, B, and C warrants.
The warrant exercises generated over $15.7 million in fresh capital for the company. Based on the January 2, 2025 closing price of $24.33 per share, Gorilla's market capitalization stands at approximately $449.2 million.
According to CFO Bruce Bower, these developments reflect strong investor confidence and will enable the company to accelerate strategic initiatives and enhance its ability to deliver innovative solutions to global customers.
Gorilla Technology Group (NASDAQ:GRRR) and Nova Minerals will be featured on Bloomberg TV's RedChip Small Stocks, Big Money™ show on January 4, 2025. In his interview, Gorilla's interim-CFO Bruce Bower discusses the company's position as an AI solutions leader with a $2 billion project pipeline and $93 million backlog. The company projects 2025 revenue between $90-100 million, targeting growth across U.S., EMEA, and Southeast Asian markets.
Nova Minerals' CEO Christopher Gerteisen presents their Estelle Gold Project in Alaska, featuring a 5.2 million ounces pit-constrained S-K 1300 compliant gold resource. The company is conducting metallurgical and flow sheet work for their Feasibility Study, which may include revenue potential from antimony minerals. The project is located in a region known for major gold deposits including Donlin Creek (45Moz), Fort Knox (11Moz), and Pogo (6.9Moz).
Gorilla Technology Group (NASDAQ: GRRR) has secured two new contracts in Taiwan to end 2024. The first contract involves deploying an AI-powered lawful interception and criminal investigation platform for law enforcement. The second is a collaboration with a telecom provider to ensure their AI-enhanced Cloud IMS network service meets lawful interception certification requirements.
According to CEO Jay Chandan, these agreements demonstrate Gorilla's capability to deliver strategic solutions in specialized industries. The company enters 2025 with a solid backlog and is positioning itself for growth through 2026, focusing on smart city solutions and security innovations.
Gorilla Technology Group (NASDAQ: GRRR) announced strategic actions to strengthen its market position, including the removal of a partial shareholder overhang through warrant exercises that injected nearly $6 million in fresh capital. The company is actively engaging with investors for strategic share acquisitions while advancing its share buyback program to enhance its capital structure.
The company reports having a robust project backlog and strategic partnerships across key industries, with a strong presence in emerging markets. Management expressed confidence in the company's growth prospects, particularly in AI and cybersecurity solutions.
Gorilla Technology Group (NASDAQ: GRRR) has announced the successful completion of its preferred share conversion, marking a significant transformation in its capital structure. The conversion eliminates market overhang and strengthens the company's financial position. The company is committed to pursuing non-dilutive funding options for working capital and large-scale projects.
The company plans to optimize capital through the release of cash from real estate and other assets, enabling resource redeployment toward high-value opportunities. Gorilla maintains an active share repurchase program, reflecting management's belief that shares are significantly undervalued relative to the company's pipeline and market potential.
Gorilla Technology Group Inc. (NASDAQ: GRRR) has announced significant milestones and growth projections during its recent investor webinar. The company has secured a major smart education contract in Southeast Asia, currently in final term discussions. Gorilla is entering 2025 with a $93 million backlog and projects revenue between $90-100 million with an EBITDA margin of 20-25%.
The company's partnership with Boston-based BroadSat is expected to generate $6-9 million in revenue in the first year, potentially exceeding $20 million annually thereafter. Both companies are currently bidding on projects worth over $70 million, combining their AI and connectivity expertise.
Gorilla Technology Group (Nasdaq: GRRR) will be featured in an interview on Bloomberg TV's RedChip Small Stocks, Big Money™ show on December 14, 2024, at 7 p.m. ET. The interview, reaching an estimated 73 million U.S. homes, will feature Chairman and CEO Jay Chandan and interim-CFO Bruce Bower discussing the company's strategic vision, recent developments in AI-driven cybersecurity solutions, and growth initiatives. The executives will highlight the company's position in addressing global security challenges, scaling operations through partnerships and acquisitions, competitive advantages, financial strategy, and market opportunities.
Gorilla Technology Group (NASDAQ: GRRR) has announced a partnership with Edgecore Networks to launch self-branded AI GPUs powered by Intel's Gaudi architecture. The collaboration aims to deliver white-labelled AI GPUs and networking solutions to underserved regions, focusing on smart cities and enterprises.
The partnership leverages Edgecore's advanced AI data center technologies, including 800G super spine switches and AI Networking platforms. Key offerings include next-generation AI data centers, scalable cloud infrastructure, and comprehensive networking solutions with a focus on cost-effectiveness and sustainability.
The company targets potential deployments to over 50 planned AI datacentres by 2032, expanding into underserved markets by 2035, positioning itself within the smart cities market projected to grow from $1.36 trillion in 2024 to $3.84 trillion by 2029.
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