Financial Data and Key Metrics Changes - Gorilla Technology Group reported revenue of approximately €39,300,000 for H1 2025, representing a year-on-year increase of over 90% [4][10] - The company reduced its debt to $18,100,000 and improved liquidity with approximately $26,100,000 in cash, along with an additional $105,000,000 raised through equity in July [5][14] - Adjusted EBITDA and adjusted net income were both approximately €5,700,000, indicating a focus on profitability alongside revenue growth [7] Business Line Data and Key Metrics Changes - The company signed three new projects in the last thirty days, including two in Taiwan and one in the UK, which are expected to strengthen the long-term recurring revenue base [6][8] - The gross margin for the first half was in the low 30s, influenced by a mix of revenue sources, but the company maintains a full-year forecast for gross margins in the 40% range [10][11] Market Data and Key Metrics Changes - The revenue drivers in the first half were primarily from projects in the Middle East and Taiwan, with expectations for continued revenue from these regions in the second half [31] - The backlog at the beginning of the year was $93,000,000, with $39,000,000 delivered, leaving a remaining backlog of approximately $59,000,000 [20] Company Strategy and Development Direction - The company is transitioning from a seasonal, milestone-heavy revenue model to long-term, multi-year contracts that provide steady revenue streams [8][68] - Future funding strategies will prioritize project-level funding and debt, with a focus on minimizing dilution while maximizing growth [24][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining guidance for 2025 with expected revenue between $100,000,000 and $110,000,000 and targeting EBITDA margins of over 20% [21][22] - The company is actively engaged in negotiations for significant projects, including the Smart School program in Thailand, which has expanded in scope [43][44] Other Important Information - The company is working on the One Amazon project, with significant milestones set for September and November 2025, including a showcase at the New York Climate Week [38][41] - The company is also pursuing M&A opportunities in India and the United States, with a focus on strategic growth [57][58] Q&A Session Summary Question: What were the main revenue drivers in the first half and expectations for the second half? - The main revenue drivers were projects in the Middle East and Taiwan, with expectations for continued revenue from Taiwan, Thailand, and the Middle East in the second half [31][32] Question: Can you provide an update on the One Amazon project? - The project is progressing well, with milestones set for a showcase in September 2025 and tokenization completion in November 2025 [38][39] Question: What is the status of the Smart School program in Thailand? - The project is in deep negotiations with the government, and its scope has expanded to include smart cloud infrastructure and AI database integration [43][44] Question: Can you provide an update on large MOUs and contract signing progress? - The Wanhai Port and ADE projects are in the MOU phase, with the Wanhai project set to deploy AI logistics solutions soon [48][50] Question: What are the primary uses of the capital raised? - The capital raised will support large projects and ensure the company can meet ambitious targets without being hamstrung by cash constraints [56][57]

Exhibit 99.2 GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 TABLE OF CONTENTS | | Page | | --- | --- | | Unaudited Condensed Interim Consolidated Balance Sheets | 2-3 | | Unaudited Condensed Interim Consolidated Statements of Comprehensive Income (Loss) | 4 | | Unaudited Condensed Interim Consolidated Statements of Changes in Equity | 5-6 | | Unaudited Condensed Interim Consolidated Statements of Ca ...

Core Insights - Gorilla Technology Group Inc. reported a revenue of $39.3 million for H1 2025, marking a 90.2% year-over-year growth [1] - The company signed three new projects in Taiwan and the UK, indicating a strong pipeline for future growth [1][4] - Debt was reduced to $18.1 million from $21.4 million at the end of 2024, enhancing financial flexibility [1][4] - A $105 million equity offering was completed in July 2025 to support further growth opportunities [1][4] Financial Performance - H1 2025 revenue reached $39.3 million, demonstrating operational strength and leadership in AI-driven security and intelligence [4] - The operating loss for the six months ended June 30, 2025, was $9.1 million, while Adjusted EBITDA was $5.7 million [4] - Net loss for the same period was $8.5 million, with Adjusted Net Income also at $5.7 million, indicating solid underlying profitability when excluding non-cash items [4][12] Liquidity and Debt Management - Gorilla ended H1 2025 with $26.1 million in total cash, bolstered by a significant payment from its largest customer in Egypt [4] - The company has emphasized financial discipline, repaying over $3 million in debt this year and releasing restricted assets into unrestricted cash [3][4] - The total liabilities decreased to $64.6 million from $80.7 million, reflecting improved capital efficiency [8] Strategic Developments - Key contracts were signed with the Port of Tyne in the UK, Wan Hai Port in Taiwan, and ADE Corporation in Taiwan, showcasing the execution of strategic initiatives [4][7] - The company is in active negotiations for additional contracts, with a pipeline exceeding $5 billion across various regions [5] - Plans for global expansion are aimed at strengthening the company's position in Southeast Asia and enhancing delivery capabilities in key markets [2]

Core Insights - Gorilla Technology Group Inc. is scheduled to report its first-half 2025 results on August 14, 2025, before the market opens [1] - The company has shown significant growth in its first quarter of 2025, with adjusted earnings of 23 cents per share and revenues of $18.3 million, reflecting a year-over-year increase of over 109% [2][8] - The full-year 2025 earnings estimate is projected at 97 cents per share, indicating a 115.8% year-over-year improvement, while revenues are expected to reach $100.01 million, a 33.9% increase from the previous year [4] Financial Performance - The Zacks Consensus Estimate for second-quarter 2025 earnings is currently at 13 cents per share on revenues of $19 million, with one downward revision noted in the past 60 days [2][3] - The company has a $5.6 billion active global pipeline covering 87 projects and plans to secure $1.3 billion in long-term contracts by mid-2026 [17] - Gorilla Technology's stock has declined 6.8% year-to-date, contrasting with the industry's growth of 19.1% [12] Growth Drivers - The company is expected to benefit from growing demand for AI-driven security and edge computing solutions, with strong sales growth anticipated in regions such as MENA, Asia, South America, and the U.K. [9][10] - A partnership with Hewlett Packard Enterprise is expected to enhance market credibility and speed-to-market for critical infrastructure projects [18] - Key initiatives include a nationwide smart education rollout in Thailand and the upcoming "ONE AMAZON" environmental initiative, which is expected to contribute to revenues in Q4 2025 [18] Valuation - Gorilla Technology's current valuation is considered attractive, trading at 2.92X forward 12-month sales, below the industry average of 3.21X [15] - The stock is trading below the Wall Street average price target of $31 per share, indicating a potential upside of 84.2% from current levels [19]

Group 1 - The core viewpoint of the news highlights the financial performance and market position of Gorilla Technology (GRRR), indicating a significant revenue growth and a notable market presence in the smart technology sector [1][2][3] Group 2 - As of August 11, GRRR's stock opened at $17.45 per share, reflecting a 2.29% increase, with a total market capitalization of $396 million [1] - For the fiscal year ending March 31, 2025, Gorilla Technology reported total revenue of $18.259 million, representing a year-over-year growth of 109.01%, while the net profit attributable to shareholders was -$4.5583 million, showing a 60.44% increase in losses compared to the previous year [1] - Gorilla Technology is headquartered in Taipei, Taiwan, and is recognized as a global leader in security intelligence, network intelligence, business intelligence, and IoT technology [2] - The company offers a range of solutions including smart cities, smart retail, enterprise security, and smart media, and provides a comprehensive security integration platform for government agencies, telecom companies, and private enterprises with network monitoring and cybersecurity needs [2] - Gorilla emphasizes delivering leading technology, expert services, and precise execution, ensuring top-tier, intelligent, and robust edge AI solutions to enhance operational performance and efficiency for its clients [2] - The company plans to provide edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers as its core technologies continue to evolve [2]

Core Points - Gorilla Technology Group Inc. will hold a conference call on August 14, 2025, at 8:30 a.m. Eastern time to discuss its financial results for the six months ended June 30, 2025 [1] - The conference call will be available for live webcast and replay [2] Company Overview - Gorilla Technology Group Inc. is headquartered in London, U.K., and operates as a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology [3] - The company offers a variety of solutions across sectors such as Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare, and Education, utilizing AI and Deep Learning Technologies [3] Technology and Solutions - The company focuses on enhancing urban operations, security, and resilience through AI-driven technologies [4] - Key products include intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics, and advanced cybersecurity technologies [4]

Core Viewpoint - Gorilla Technology (GRRR) shows significant growth in revenue and a strong market presence in the smart technology sector, particularly in security and IoT solutions [1] Financial Performance - As of March 31, 2025, Gorilla Technology reported total revenue of $18.259 million, representing a year-over-year increase of 109.01% [1] - The company recorded a net profit attributable to shareholders of -$4.5583 million, which is an improvement of 60.44% compared to the previous year [1] Company Overview - Gorilla Technology is headquartered in Taipei, Taiwan, and is recognized as a global leader in security intelligence, network intelligence, business intelligence, and IoT technology [1] - The company offers a range of solutions including smart city, smart retail, enterprise security, and smart media [1] - Gorilla provides a comprehensive security integration platform for government agencies, telecom companies, and private enterprises with network monitoring and cybersecurity needs [1] Technological Focus - The company emphasizes delivering leading technology, expert services, and precise execution, ensuring top-tier, intelligent, and robust edge AI solutions [1] - Gorilla aims to enhance operational performance and efficiency for its clients through continuous development of core technologies [1] - The company plans to offer edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers [1]

Core Viewpoint - Gorilla Technology Group Inc. has resolved its litigation with Culper Research through a confidential non-monetary settlement, allowing the company to focus on its growth strategy and operational results [1][2][3] Company Developments - The company has an active pipeline exceeding $5.6 billion and has secured new capital while expanding its global customer base [2][3] - Gorilla's first quarter earnings, released on June 18, 2025, demonstrate continued momentum and operational progress [3] Industry Position - Gorilla Technology Group is a global solution provider specializing in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, serving various sectors including Government, Manufacturing, Telecom, Retail, Transportation, Healthcare, and Education [4][5] - The company leverages AI and Deep Learning technologies to enhance urban operations, security, and resilience, focusing on intelligent video surveillance, facial recognition, and advanced cybersecurity [5]

Core Insights - Michael Dion is an FP&A leader with diverse finance experience across various industries including Telecom, Media and Entertainment, Hospitality, and Construction [1] - He founded Mike's F9 Finance, a platform aimed at helping finance professionals enhance their careers [1] - Dion's investment strategy focuses on identifying value opportunities where market reactions to news are disproportionate, emphasizing strong fundamentals and a preference for dividend-paying stocks [1] - The importance of cash flow is highlighted as critical for both companies and investors at all levels [1]

Core Insights - Gorilla Technology Group Inc. is hosting a webinar on July 10, 2025, to discuss its advancements in AI-based Industrial IoT and Security Convergence technologies [1][2] - The company has recently completed a $105 million capital raise and is positioned to scale its operations globally, with a backlog of $93 million and a $6.6 billion opportunity pipeline [2] - Gorilla projects 2025 revenue between $100 million and $110 million, with EBITDA margins of 20-25% [2] Company Overview - Gorilla Technology Group Inc. is headquartered in London and specializes in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology [5] - The company offers solutions across various sectors, including Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare, and Education, utilizing AI and Deep Learning technologies [5] - Gorilla's expertise includes intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics, and advanced cybersecurity technologies [6] Strategic Initiatives - The company is involved in significant public safety and infrastructure modernization projects, including a Smart City initiative in Santa Marta, Colombia, and a five-year AI partnership with Thailand's Tourist Police [2] - Gorilla holds 29 global patents and has a veteran leadership team, positioning it favorably against SaaS peers in terms of valuation multiples [2]