- Revenue grows 55% year on year, expanding to US$28.2 million - Operating cash flow turns positive at US$6.6 million, a US$17.3 million improvement from Q1 2025 - Cash balance improves 373% year on year to US$98.4 million - Full year 2026 revenue guidance range increased to US$160 million - US$200 million London, United Kingdom - (Newsfile Corp. - May 27, 2026) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, IoT technology and data centres, today announced financial results for the three months ended, 31^st March 2026. Key Highlights:

• Revenue growth drives momentum: Q1 2026 revenue was US$28.2 million, compared with US$18.3 million in Q1 2025, representing growth of approximately 55% year on year.

• Operating cash flow generation accelerates: Net cash from operating activities swung from US$(10.7) million in Q1 2025 to US$6.6 million in Q1 2026, a US$17.3 million improvement.

• Strong cash position underpins future growth: Gorilla ended Q1 2026 with US$98.4 million of cash and cash equivalents, compared with US$20.8 million at March 31, 2025, an increase of approximately 373% year on year.

• Egypt project delivering meaningful cash flow: During Q1, Gorilla collected significant cash from its Egypt project following the successful completion of key project milestones. Advance payment guarantees associated with completed project stages have been released, and the project is now progressing towards final implementation.

• Reported IFRS loss distorted by non-cash and FX items: Reported IFRS operating loss was US$41.1 million, driven primarily by US$20.9 million of non-cash stock-based compensation and US$18.9 million of foreign currency exchange losses. These items do not reflect the underlying cash generation of the business.

• Full year guidance increased: Gorilla has raised its guidance for full year 2026 revenue currently to be in the range of US$160 million - US$200 million, reflecting improved visibility across contracted backlog, scheduled delivery milestones and near-term executable opportunities.

Statement from Jay Chandan, Chairman and CEO: "Gorilla's Q1 2026 performance demonstrates the momentum and tangible results our strategy is creating. Our enterprise is delivering across all of its initiatives. We are building capacity, signing contracts, collecting cash and putting infrastructure on the ground. "Our agreement with Yotta represents a meaningful milestone as we continue to deliver the next generation of AI infrastructure in the markets that matter to us most. We are already seeing real results from that partnership, and the opportunity represents a potential annualised revenue base of more than US$500 million, when GPU compute and associated infrastructure services are taken together That is why I view a US$500 million revenue target for next year as entirely achievable and the onus is on us to execute from here. "In Thailand, we are advancing a 200MW AI data centre campus in Korat. We have paid the first installment on strategic land, we are working through the power and capacity plan and we are building the foundation for Gorilla's owned AI infrastructure platform in Southeast Asia. This will allow us to address the key bottleneck in the region that our clients have mentioned—the lack of adequate data centre space. Korat is only the beginning, as we continue to establish leadership in this region. "We are also pursuing additional capacity across Malaysia, Indonesia, Taiwan, Philippines and the broader region, including Rayong and secured colocation facilities in Jakarta. When I look at the opportunities in front of us, I believe Gorilla has a credible path towards approximately 500MW of AI infrastructure capacity by the end of 2028. That is half a gigawatt of potential capacity, which is an exceptional output for any company, and when looking at our size, shows how we are punching far above our weight. "Beyond the momentum we have around data centres, we are still building products, releasing new platforms, expanding our security and network intelligence capabilities and securing new opportunities in markets such as Taiwan. The infrastructure business gives us scale. The product business gives us differentiation. The combination gives us leverage. This is why I am confident. We have signed demand. We have land. We have power plans. We have colocation capacity. We have GPU infrastructure. We have new products. We have new contracts. We have hired more than 100 employees & contractors to support delivery. The pieces are all in place. The ambition is obvious. The only question is execution and that is exactly what we are doing. The path is clear: execute against our backlog, deliver on customer commitments and translate our growing infrastructure platform into sustainable revenue, cash...