Latest news with #GorillaTechnology
Yahoo
3 days ago
- Business
- Yahoo
Gorilla Technology Reports First Quarter 2025: Profitability, Global Execution and Momentum Drive 109% Revenue Increase
— Q1 2025 revenue surged to $18.3 million, marking over 109% year-on-year growth. — —Total cash reserves held firm at $33.8 million, while debt was strategically reduced to $18.4 million, reinforcing our financial agility. — London, United Kingdom--(Newsfile Corp. - June 18, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology, today reported financial results for Q1 2025 which ended 31 March, 2025. Key highlights Include: Exceptional Revenue Growth: Q1 2025 revenue rose to $18.3 million, driven by several mission-critical global agreements. This performance cements Gorilla's operational strength, market credibility and leadership in AI-powered security and infrastructure. Strong Balance Sheet: Gorilla ended Q1 with a healthy $33.8 million in cash, including $20.8 million in unrestricted cash. This solid liquidity base provides flexibility to execute on opportunities and power future expansion. Disciplined Debt Reduction: Gorilla cut debt to $18.4 million, down from $21.4 million at year-end 2024, freeing up pledged deposits and sharpening capital efficiency. We will continue to deleverage aggressively wherever it strengthens value and remains cash-neutral, reinforcing a balance sheet built for scale and speed. Adjusted EBITDA: Reached $5.16 million, up from $3.50 million in Q1 2024, a 47.5% year-on-year increase that underscores Gorilla's expanding operating leverage, disciplined execution and profitable growth trajectory. Adjusted net income: Rose 46.7%, to $4.47 million, compared to $3.05 million in the prior-year quarter, highlighting strong underlying earnings power and margin control despite global scale-up Adjusted EPS: Climbed to $0.23, marking a sharp turnaround from a basic loss per share of $1.47 in Q1 2024. Strategic Investment in Long-Term Value: Our SAFE investment in One Amazon strengthens a game-changing partnership at the heart of global sustainability. As the core technology partner, Gorilla is deploying large-scale IoT infrastructure across the Amazon rainforest, cementing our position as a front-runner in climate intelligence and next-generation environmental innovation. Accelerating Global Momentum: Gorilla's pipeline now exceeds $5 billion, consisting of qualified leads where we have determined that there is a will and a budget to move forward and that we can close a deal within the next 12 months. This has been fueled by rapid expansion across the United States, MENA, Southeast & East Asia, South America and the United Kingdom. Our growing contract base, execution track record and market demand position us not just as a growth story, but as a global force in AI-powered transformation. Statement from Jay Chandan 'Gorilla has launched into 2025 with power, precision and clarity of purpose. This quarter is not just a performance milestone - it is proof of trajectory. Revenue is up, margins are firm and profitability is no longer aspirational, it is embedded. With momentum on our side, we are no longer just building our pipeline, we are converting at scale, compounding growth across borders and deepening trust with some of the world's most ambitious partners.' 'From reshaping energy infrastructure in Thailand to enabling climate-tech at scale in the Amazon, Gorilla is fast becoming the default partner for governments and mid-sized enterprises looking to future-proof their nations. With a strong revenue pipeline and cash base, as well as our relentless operational focus, we are entering our next phase - one of acceleration, execution and measurable value creation.'Financials GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIESUNAUDITED CONDENSED QUARTERLY CONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2025 AND DECEMBER 31, 2024(Expressed in United States dollars)Items March 31,2025 (Unaudited) December 31,2024 (Audited) Assets Current assets Cash and cash equivalents $ 20,813,810 $ 21,699,202 Financial assets at fair value through profit or loss - current 1,000 1,000 Restricted deposits - current 12,959,625 15,773,099 Unbilled receivables (Contract assets) 44,289,520 34,306,195 Accounts receivable, net 25,621,462 25,670,157 Inventories 5,138 5,199 Prepayments - current 22,707,832 28,632,212 Other receivables, net 385,234 432,696 Other current assets 137,547 151,816 Total current assets 126,921,168 126,671,576 Non-current assets Property and equipment 14,899,703 14,939,143 Right-of-use assets 466,391 505,345 Intangible assets 2,830,788 2,931,661 Deferred income tax assets 7,401,420 6,938,213 Prepayments - non-current 287,483 315,304 Financial assets at fair value through profit or loss - non-current 1,500,000 - Other non-current assets 1,456,777 1,494,740 Total non-current assets 28,842,562 27,124,406 Total assets $ 155,763,730 $ 153,795,982 Items March 31,2025 (Unaudited) December 31,2024 (Audited) Liabilities and Equity Liabilities Current liabilities Short-term borrowings$ 12,609,505$ 15,073,458 Contract liabilities 264,919 273,227 Accounts payable 22,681,772 26,039,076 Other payables 2,291,424 2,451,135 Provisions - current 58,994 37,673 Lease liabilities - current 209,531 210,448 Current income tax liabilities 10,029,276 9,028,829 Warrant liabilities 1,039,726 20,082,272 Long-term borrowings, current portion 1,888,708 1,972,371 Other current liabilities, others 87,543 142,796 Total current liabilities 51,161,398 75,311,285 Non-current liabilities Long-term borrowings 3,886,654 4,372,188 Provisions - non-current 37,989 22,013 Deferred income tax liabilities 221,950 42,897 Lease liabilities - non-current 485,201 579,699 Guarantee deposits received 359,788 364,047 Total non-current liabilities 4,991,582 5,380,844 Total liabilities 56,152,980 80,692,129 Equity Equity attributable to owners of parent Share capital Ordinary share 21,407 19,443 Capital surplus Capital surplus 287,234,895 254,585,267 Retained earnings Accumulated deficit (152,797,036) (148,238,729 )Other equity interest Financial statements translation differences of foreign operations (1,641,888) (55,500 )Treasury shares (33,206,628) (33,206,628 )Equity attributable to owners of the parent 99,610,750 73,103,853 Total equity 99,610,750 73,103,853 Significant contingent liabilities and unrecognized contract commitments - - Total liabilities and equity$ 155,763,730$ 153,795,982 GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIESUNAUDITED CONDENSED QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSSTHREE MONTHS ENDED MARCH 31, 2025 AND 2024(Expressed in United States dollars) Three Months Ended March 31 Items 2025 (Unaudited) 2024 (Unaudited and Unreviewed) Revenue$ 18,258,999$ 8,736,068 Cost of revenue (11,850,617 )(1,299,438 )Gross profit 6,408,382 7,436,630 Operating expenses: Selling and marketing expenses (330,647 )(387,838 )General and administrative expenses (3,458,299 )(3,122,292 )Research and development expenses (570,240 )(846,355 )Currency exchange losses, net* (4,418,096 )(6,455,655 )Fair value remeasurement of financial instruments (1,838,049 )(8,037,431 )Other income 46,361 18,544 Other losses, net (8,497 )(31,191 )Total operating expenses (10,577,467 )(18,862,218 )Operating loss (4,169,085 )(11,425,588 )Non-operating income (expenses) Interest income 562,792 173,298 Finance costs (154,992 )(218,789 )Total non-operating income (expenses) 407,800 (45,491 )Loss before income tax (3,761,285 )(11,471,079 )Income tax expense (797,022 )(51,747 )Loss for the period (4,558,307 )(11,522,826 )Other comprehensive loss Components of other comprehensive loss that may not be reclassified to profit or loss Remeasurement of defined benefit plans - 3,223 Components of other comprehensive loss that may be reclassified to profit or loss Exchange differences on translation of foreign operations (1,586,388 )(1,191,786 )Other comprehensive loss for the period, net of tax (1,586,388 )(1,188,563 )Total comprehensive loss for the period (6,144,695 )(12,711,389 )Loss per share Basic loss per share$ (0.23 ) $ (1.47 )Diluted loss per share$ (0.23 ) $ (1.47 )Weighted average shares of ordinary shares outstanding Basic 19,497,913 7,864,962 Diluted 19,497,913 7,864,962* During the three months ended March 31, 2025 and 2024, net currency exchange losses amounted to $7,188,047 and $6,533,377, respectively, due to devaluation of monetary assets denominated in the Egyptian pound arising from the sharp depreciation of the Egyptian pound against the U.S. dollar in March 2024. GORILLA TECHNOLOGY GROUP INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWSTHREE MONTHS ENDED MARCH 31, 2025 AND 2024(Expressed in United States dollars) Three Months Ended March 31 2025 (Unaudited) 2024 (Unaudited and Unreviewed) CASH FLOWS FROM OPERATING ACTIVITIES Loss before tax$ (3,761,285 ) $ (11,471,079 )Adjustments Adjustments to reconcile loss Expected credit losses 6,110 - Depreciation expenses 153,083 134,665 Amortization expenses 154,387 220,837 Gain on disposal of property, plant and equipment - (73 )Share-based payment expenses 271,050 - Share-based compensation expenses 216 (137,558 )Interest expense 154,992 218,789 Interest income (562,792 )(173,298 )Unrealized exchange loss 4,624,595 6,413,610 Losses on financial liabilities at fair value through profit or loss 1,838,049 8,037,430 Losses on financial assets at fair value through profit or loss - 19,978 Changes in operating assets and liabilities Changes in operating assets Unbilled receivables (Contract assets) (18,224,234 )(6,844,922 )Accounts receivable, net 988,290 1,352,608 Inventories - (946 )Prepayments 6,743,194 193,630 Other receivables - 9,187 Other current assets 15,707 67,079 Other non-current assets - 24,573 Changes in operating liabilities Contract liabilities (4,750 )(48,645 )Accounts payable (3,328,962 )(1,377,745 )Other payables (121974 )(407,626 )Provisions 38,251 (48,682 )Other current and non-current liabilities (56,910 )73,450 Cash outflow generated from operations (11,072,983 )(3,744,738 )Interest received 610,494 170,112 Interest paid (184,878 )(150,651 )Tax paid (12,499 )(15,033 )Net cash flows used in operating activities (10,659,866 )(3,740,310 ) Three Months Ended March 31 2025 (Unaudited)2024 (Unaudited and unreviewed) CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES Acquisition of property and equipment (237,893 )(104,144 )Acquisition of intangible assets (54,230 )(23,859 )Investment in financial assets at fair value through profit or loss - non-current (1,500,000 )- Disposal (increase) in financial assets at amortized cost 2,699,420 (3,441 )Decrease in guarantee deposits 40,942 28,879 Net cash flows from (used in) investing activities 948,239 (102,565 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term borrowings 8,002,807 7,000,210 Repayments of short-term borrowings (10,270,816 )(6,172,559 )Repayments of long-term borrowings (500,531 )(366,296 )Principal repayment of lease liabilities (95,268 )(45,981 )Proceeds from preferred shares and private warrants 11,499,731 9,650,000 Net cash flows from financing activities 8,635,923 10,065,374 Effect of foreign exchange rate changes 190,312 (1,509,558 )Net (decrease) increase in cash and cash equivalents (885,392 )4,712,941 Cash and cash equivalents at beginning of the period 21,699,202 5,306,857 Cash and cash equivalents at end of the period$ 20,813,810$ 10,019,798 Reconciliation of Adjusted Operating Income and Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) to Operating loss as per International Financial Reporting Standards (IFRS)Three Months Ended March 31 Items2025 (Unaudited andUnreviewed)2024(Unaudited andUnreviewed) (Amount in USD) Operating loss (IFRS)$ (4,169,085 ) $ (11,425,588 )Add: Exchange loss from currency devaluation 7,188,047 6,533,377 Add: Fair value remeasurement of financial instruments 1,838,049 8,037,430 Adjusted Operating income (Non-IFRS)$ 4,857,011$ 3,145,219 Add: Depreciation expenses 153,083 134,665 Add: Amortization expenses 154,387 220,837 Adjusted EBITDA (Non-IFRS)$ 5,164,481$ 3,500,721 Reconciliation of Adjusted Net Income (Non-IFRS) to IFRS Net lossThree Months Ended March 31 Items2025 (UnauditedandUnreviewed)2024(Unaudited andUnreviewed) (Amount in USD) Net loss (IFRS)$ (4,558,307)$ (11,522,826 )Add: Exchange loss from currency devaluation 7,188,047 6,533,377 Add: Fair value remeasurement of financial instruments 1,838,049 8,037,430 Adjusted Net income (Non-IFRS)$ 4,467,789$ 3,047,981About Gorilla Technology Group Inc. Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies. Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents. For more information, please visit our website: Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, Gorilla's ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on April 30, 2025 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. Investor Relations Contact: Dave GentryRedChip Companies, Inc.1-407-644-4256GRRR@ To view the source version of this press release, please visit Sign in to access your portfolio
Malay Mail
13-06-2025
- Business
- Malay Mail
Gorilla Technology Sets Q1 2025 Conference Call for June 18th, 2025, at 4:30 p.m. ET
[email protected] LONDON, UNITED KINGDOM - Newsfile Corp. - June 13, 2025 - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") will hold a conference call on Wednesday, June 18th, 2025, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the first quarter of fiscal year 2025 ended March 31, 2025. Financial results will be issued in a press release before the June 18th, 20254:30 p.m. Eastern time (1:30 p.m. Pacific time)+1-833-752-4853+1-647-849-3362Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact RedChip Companies at conference call will be webcast live and available for replay at: Dave Gentry, CEORedChip Companies, Inc.1-407-644-4256 The issuer is solely responsible for the content of this announcement. About Gorilla Technology Group Inc. Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies. Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents. For more information, please visit our website:
Globe and Mail
13-06-2025
- Business
- Globe and Mail
Gorilla Technology Sets Q1 2025 Conference Call for June 18th, 2025, at 4:30 p.m. ET
London, United Kingdom--(Newsfile Corp. - June 13, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") will hold a conference call on Wednesday, June 18th, 2025, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the first quarter of fiscal year 2025 ended March 31, 2025. Financial results will be issued in a press release before the call. Call Date: Wednesday, June 18th, 2025 Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time) Toll Free: +1-833-752-4853 International: +1-647-849-3362 Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact RedChip Companies at 1-407-644-4256. The conference call will be webcast live and available for replay at: About Gorilla Technology Group Inc. Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies. Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents. For more information, please visit our website:
Yahoo
09-06-2025
- Business
- Yahoo
Will New Client Wins Unit Aid Gorilla Technology's Q1 Earnings?
Gorilla Technology Group Inc. GRRR is scheduled to release first-quarter 2025 results in the first half of June. The Zacks Consensus Estimate for earnings per share is pegged at 1 cent. (See the Zacks Earnings Calendar to stay ahead of market-making news.) The first-quarter earnings estimate has remained stable over the past 30 days. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $20 million. Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for Gorilla Technology this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that's not the case here, as you see ESP: Gorilla Technology has an Earnings ESP of 0.00%. You can uncover the best stocks before they're reported with our Earnings ESP Rank: GRRR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank stocks here. Gorilla Technology's revenues are expected to have gained on the back of expanding operations across the USA, MENA, Southeast & East Asia, South America and the UK in the first quarter. Strong execution on key contracts, new business growth and high client retention rates are likely to have resulted from sustained demand for GRRR's AI-driven security and intelligence solutions, which in turn, is likely to have driven its top line. In the to-be-reported quarter, the gross margin is expected to have witnessed continued growth, thanks to its prudent cost-cutting initiatives, high-value solutions and long-term scalability. Expense management efforts are also likely to have aided the net income of the company. A decrease in debt level is expected to have reduced the interest expenses of Gorilla Technology in the first quarter. Of the other Business Services sector industry players that have reported March-quarter results so far, the bottom-line results of Mastercard Incorporated MA, The Western Union Company WU and Visa Inc. V beat the respective Zacks Consensus Estimate. Mastercard reported first-quarter 2025 adjusted earnings per share (EPS) of $3.73, which surpassed the Zacks Consensus Estimate by 4.5%. The bottom line improved 13% year over year. Net revenues of the leading technology company in the global payments industry advanced 14% year over year to $7.3 billion. The top line beat the consensus mark by 1.8%. Gross dollar volume (representing the aggregated dollar amount of purchases made and cash disbursements obtained from Mastercard-branded cards) increased 9% on a local-currency basis to $2.4 trillion. Cross-border volumes (a key measure that tracks spending on cards beyond the issuing country) rose 15% on a local currency basis. Switched transactions, which indicate the number of times a company's products have been used to facilitate transactions, improved 9% year over year to 40.1 billion. Value-added services and solutions' net revenues of $2.8 billion advanced 16% year over year. Mastercard's clients issued 3.5 billion Mastercard and Maestro-branded cards as of March 31, 2025. Western Union's first-quarter 2025 adjusted EPS of 41 cents beat the Zacks Consensus Estimate by 2.5%. However, the bottom line declined 8.9% year over year. Total revenues were $983.6 million, which fell 6% on a reported basis. Additionally, the top line missed the Zacks Consensus Estimate by 0.8%. The adjusted operating margin decreased 100 bps year over year to 19% due to a fall in contributions from Iraq. Operating income of $177.4 million declined 8% year over year and lagged our estimate of $185.2 million. The Consumer Money Transfer segment's revenues fell 9% to $872.9 million. Operating income was $159.3 million, which fell 15% year over year and also missed the consensus estimate. Transactions within the CMT segment grew 3% year over year. Branded Digital revenues, which accounted for 28% of CMT's first-quarter revenues, improved 7% on a reported basis and 8% on an adjusted basis. Visa reported second-quarter fiscal 2025 EPS of $2.76, which outpaced the Zacks Consensus Estimate of $2.68 by 3%. The bottom line increased 10% year over year. Net revenues of $9.6 billion improved 9.3% year over year. The top line beat the consensus mark by 0.3%. Visa's payments volume increased 8% year over year on a constant-dollar basis in the fiscal second quarter. Processed transactions (implying transactions processed by Visa) grew 9% year over year to 60.7 billion. On a constant-dollar basis, the cross-border volume of Visa rose 13% year over year. Excluding transactions within Europe, its cross-border volume (that boosts a company's international transaction revenues) also jumped 13% year over year on a constant-dollar basis. Service revenues (depending on the payment volume in the previous quarter) increased 9% year over year to $4.4 billion in the March quarter. Data processing revenues of $4.7 billion grew 10.4% year over year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report The Western Union Company (WU) : Free Stock Analysis Report Gorilla Technology Group Inc. (GRRR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-06-2025
- Business
- Yahoo
Jim Cramer Recommends Axon Over Gorilla Technology (GRRR)
We recently published a list of . In this article, we are going to take a look at where Gorilla Technology Group Inc. (NASDAQ:GRRR) stands against other stocks that Jim Cramer discusses. A caller asked for Cramer's thoughts on Gorilla Technology Group Inc. (NASDAQ:GRRR) during the lightning round, and he replied: 'Man, you're like, you're way over the edge… We're going, you know what we're going to do for video surveillance, I'm going to send you to Axon.' Gorilla Technology (NASDAQ:GRRR) delivers advanced solutions in AI-powered monitoring, security, and IoT applications across various sectors, including smart buildings, policing, transportation, and port operations. A data center filled with the latest servers and networking equipment representing the company's cutting edge security infrastructure. On May 22, Gorilla Technology (NASDAQ:GRRR) announced that it completed repurchasing more than $1.8 million of its own shares in April and May. The company raised the total buyback under the current program to $5.4 million over the last year, with $4.6 million still available from the $10 million approved by the Board. Overall, GRRR ranks 9th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of GRRR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
