Gorilla Technology Group (NASDAQ: GRRR) issued updated revenue projections and detailed deployment timelines at the Water Tower Research Virtual Insights Conference on Tuesday, shifting emphasis from earlier promotional targets toward execution milestones across its sovereign AI and data center portfolio.
The company reported first-half 2026 revenue exceeding $78 million, representing nearly 100 percent year-over-year growth, following $101 million in full-year 2025 revenue growth of roughly 36 to 37 percent and $74 million-plus in 2024. Official guidance for the next fiscal year sits at $450 million to $500 million, while management set an ambitious, non-guided target range of $1.3 billion to $1.8 billion for the following year.
Chief Executive Officer Jay Chandan said the firm has moved past speculative projections into contract-driven delivery. "The real procurement, the commitments, the deployment schedules, the data center capacity, the networking equipment — all seem to be based on the customer delivery milestones we have committed," Chandan told Managing Director of Technology John Roy. "The only word we choose to use today is execution."
Gorilla's visible pipeline now exceeds $10 billion, up from a previously disclosed $7 billion. Combined annualized revenue from its Yotta 1, Yotta 2 and NutraDC assets is estimated at approximately $800 million. The company also disclosed a Supermicro supply chain arrangement valued at roughly $2 billion.
India remains the largest single-market opportunity. Gorilla outlined a program encompassing 25,856 advanced GPUs with total aggregate contract value between $2.5 billion and $2.6 billion, plus over $500 million in ancillary GPU infrastructure, bringing the India addressable opportunity to $3 billion–$3.1 billion. Under the Yotta AI plan, 640 servers carrying 5,110 B200 GPUs were already delivered in Phase 1. Phases 2 and 3 are scheduled over the next one to two weeks, with Phase 4 due in the first or second week of October. Yotta 2, carrying 20,736 B300 GPUs, will begin deployment in blocks of 5,000 units starting the first week of October, with all Yotta deliveries expected to complete by year-end 2026.
In Southeast Asia, Indonesia committed to 1,875 servers — approximately 15,000 GPUs — to be deployed by the first quarter of next year, along with between 135 megawatts and 200 megawatts of additional capacity. Thailand's Korat AI data center campus has been allocated 280 megawatts across four data halls in four phases. In Egypt, government data centers are operational and the president launched the Octagon initiative one month prior, with Gorilla's infrastructure layered on top.
Taiwan awarded Gorilla a multi-year 5G LI project worth tens of millions of dollars. Corporate headcount has more than doubled to over 600 people, including contractors.
On profitability, Chief Financial Officer Bruce Bower attributed weaker-than-desired gross and EBITDA margins in the first half of 2026 to foreign exchange movements and a couple of large one-off expenses. Traditional security and cybersecurity operations carry gross margins above 30 percent, while GPU-as-a-service and AI data center operations exceed 70 percent. Bower projected overall gross margin above 50 percent and EBITDA margin above 20 percent for next year.
Gorilla's stock traded at $13.75 with a market capitalization of $372 million at the time of the conference. The company noted share repurchases through February 2026 and disclosed a B- credit rating from Fitch with a positive outlook.
Chandan acknowledged the capital intensity of scaling infrastructure across Asia and observed that the market has not yet fully credited the company's progress. "We will continue to deliver because the market will eventually catch up," he said.
