Gorilla Technology Group (NASDAQ: GRRR) is getting hit hard Tuesday despite reporting sharply higher revenue and raising its outlook. Around 12:24 p.m. ET, shares were down 10.6% to $14.15. The broader technology market was moving the other way, with the Invesco QQQ Trust (NASDAQ: QQQ) up about 0.6%. The contrast with several names cited as peers was also notable: BigBear.ai was up about 1.1%, Evolv Technologies and Ambarella were slightly positive, while Palantir was down about 0.4%. That does not prove a single cause for Gorilla’s selloff, but it does make Tuesday’s drop look much more specific to GRRR than to a broad technology retreat.
Revenue Nearly Doubled, and Guidance Went Up Again
Gorilla reported first-half 2026 revenue of $78.4 million, up 99.3% from $39.3 million a year earlier. Second-quarter revenue reached $50.1 million, up 78% sequentially and 138% year over year, helped by contracted work being completed earlier than expected. Management also raised its third-quarter planning range to $48 million to $50 million from $36 million to $40 million and lifted the floor of its full-year outlook again. Gorilla now expects at least $200 million of 2026 revenue, compared with its previous $160 million to $200 million range. Its 2027 target is even more aggressive at $450 million to $500 million. Current analyst consensus collected by StockAnalysis is about $386.7 million, putting Gorilla’s target roughly 16% to 29% above that figure.
The 2027 Forecast Depends on Projects Going Live
The important word around that $450 million to $500 million target is execution. CFO Bruce Bower said the forecast includes roughly $100 million of annualized incremental revenue from the first Yotta phase, $250 million from the first batch of Yotta Phase 2, and about $75 million to $80 million annually from the initial 300-server NeutraDC deployment. Management said it has not included the remaining 700 servers from that NeutraDC phase, another planned 875-server phase, or the second portion of Yotta Phase 2 because those delivery schedules were not yet firm enough. That gives the forecast possible upside if additional schedules are finalized, but it also means investors are betting on equipment arriving, capacity being commissioned and customers actually beginning to use it on time.
The Losses Explain Why Investors Have More to Weigh
The top-line growth is real, but so are the costs of building the business. Gorilla reported a $47.2 million IFRS operating loss for the first half, including $25.4 million of stock-based compensation and several other accounting and transaction expenses. Even after adjustments, EBITDA swung to a $14.6 million loss from positive $6.2 million a year earlier, while adjusted net loss was $15.6 million, or $0.58 per share. There was better news on cash usage: operating cash outflow improved to $4.3 million from $12.5 million, and Gorilla ended June with $179.4 million in cash, helped largely by financing inflows. The company also spent $14.1 million on property and equipment during the half. Those numbers make this more than a simple revenue-growth story, especially while major infrastructure projects are still being built.
India, Indonesia and Thailand Are the Numbers to Watch
Gorilla’s next phase stretches across three distinct Asian projects. Its Yotta deployments are in India, while the NeutraDC program is in Batam, Indonesia, where Gorilla initially secured about 5.5 megawatts of data-center capacity with plans to scale to roughly 18 megawatts by December 2026. The company has separately planned a 200-megawatt AI data-center campus in Korat, Thailand, with the first phase targeted for completion in the first quarter of 2027, subject to approvals and financing. Gorilla said in July that the initial Batam deployment was targeted for September and December 2026, with remaining contracted capacity expected during the first half of 2027. For investors, particularly retirees or anyone relying on a portfolio for near-term withdrawals, that execution-heavy timeline is a reminder to treat a stock capable of double-digit daily moves as a speculative position and size it accordingly rather than making essential spending dependent on its next catalyst.