Gorilla Technology nearly doubled first-half 2026 revenue as AI infrastructure and data-center programs scaled, but the company’s reported operating loss widened sharply as it invested ahead of utilization and absorbed substantial stock-based compensation and accounting charges.
First-half revenue increased 99.3% to $78.4 million from $39.3 million. Management said the growth was driven by the scaling of AI infrastructure and data-center programs as well as delivery across security intelligence, network intelligence and smart-city operations.
IFRS operating loss widened to approximately $47.2 million from $9.1 million. The 2026 result included $25.4 million of stock-based compensation, $4 million of downward fair-value measurement effects, $2 million of debt-transaction costs and $0.3 million of acquisition-related expenses.
Adjusted EBITDA was a loss of $14.6 million compared with positive $6.2 million in the prior-year period. Reported net loss widened to $46.9 million from $8.5 million, while adjusted net result swung to a $15.6 million loss from $6.3 million of adjusted net income.
Cash efficiency moved in the opposite direction. Net cash used in operating activities declined 65.3% to $4.3 million even as revenue nearly doubled. Gorilla ended June with approximately $179.4 million of cash after financing inflows and customer collections.
The company deployed approximately $14.1 million into property and equipment during the first half as it builds additional AI infrastructure. Gorilla raised its fiscal 2026 revenue outlook to at least $200 million and is targeting $450 million to $500 million of revenue in 2027 with substantial gross-margin improvement.
KEY QUOTE:
“We are investing ahead of the revenue and utilisation curve, but we are doing so from a position of substantial liquidity.”
Bruce Bower, Chief Financial Officer of Gorilla Technology
