Gorilla Technology Group Inc.

What they do

Gorilla Technology Group Inc. operates in the software and services industry, focusing on two reportable segments: Security Convergence and Video IoT. The company provides cybersecurity, video analytics, and IoT solutions, with an emphasis on integrating security into risk management frameworks. It also holds investments and subsidiaries in other segments.

Revenue drivers

• Security Convergence — Provides cybersecurity and related services, likely the primary revenue segment, though specific revenue figures are not provided.
• Video IoT — Offers video analytics and IoT solutions, including technology from SeeQuestor, a video analytics company acquired via IP purchase in 2023.
• Other segment — Comprises holding companies and overseas subsidiaries excluded from reportable segments; may generate holding or investment income.

Recent performance

In 2025, the company repurchased 268,411 shares at a weighted average price of $14.55, totaling $3,904,123, versus 1,103,618 shares at $3.29 in 2024. The company reported no cybersecurity threats that materially affected its business in 2025. It also made a $500,000 convertible loan to Astrikos AI in December 2025. The company recognized no expenses related to its rent-a-captive arrangement in 2025, compared to $46,146 in 2024.

Strategy

The company's strategy includes investing in partnerships, such as a SAFE with One Amazon USA Inc. for up to $5,000,000, positioning itself as primary technology provider for the Internet of Forests initiative. It also extends convertible loans to AI companies, like Astrikos AI, to support growth and potential equity conversion. The company maintains a focus on cybersecurity resilience, with processes aligned to NIST and ISO standards, and manages risks through third-party audits and supply chain evaluations.

Risks

• Cybersecurity threats — Despite safeguards, the company faces inherent risks of cyber incidents that could affect business strategy, results, or financial condition.
• Supply chain risk — The company's operations depend on its supplier and partner ecosystem, with risks managed through periodic evaluations but still subject to disruption.
• Investment and credit risk — The company's investments in SAFEs and convertible loans, such as to One Amazon and Astrikos AI, carry risk of non-conversion or default.
• Regulatory compliance — Compliance with privacy laws and evolving cybersecurity regulations could require additional resources and affect operations.

Outlook

Management statements suggest continued investment in strategic partnerships and technology, with a focus on cybersecurity resilience. The company will monitor its investments for conversion events, such as the SAFE with One Amazon, and the Astrikos loan, which may convert into equity. The company is likely to continue expanding its security and video IoT offerings, though no specific forward-looking guidance is provided.