Gorilla Technology increases share buyback program to $20 million

Gorilla Technology Group Inc. (NASDAQ: GRRR) announced its board of directors has increased the authorized capacity of its share repurchase program to $20 million from a previously announced amount.

The London-based technology company stated the increase reflects management's belief that current market valuation does not reflect the company's performance. Chairman and CEO Jay Chandan said in a statement that recent operational developments include executing a $1.4 billion AI data center contract, launching a post-quantum cryptography initiative, and securing business wins in the Asia-Pacific region.

The company reported approximately $107 million in free cash and $120 million in restricted cash. According to the announcement, recent spending has been allocated to contract obligations, research and development, and increased headcount.

Gorilla Technology indicated it is currently in a blackout period and plans to utilize the buyback program capacity following the release of third quarter financial results. The company expects to release third-quarter 2025 financial results in mid-November.

The company also stated it will submit trading data to the U.S. Securities and Exchange Commission regarding what it characterizes as unusual trading patterns in its stock, including potential aggressive shorting activity.

Gorilla Technology provides security intelligence, network intelligence, business intelligence and IoT technology solutions across government, manufacturing, telecommunications, retail, transportation, healthcare and education sectors.

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