As per the contract, spanning over three years, the company will implement a Smart Government Security Convergence solution in Egypt.

With the contract, the Government of Egypt expects to boost the capability of security operations, ensuring proactive threat detection and fast response to emerging risks.

"This is the largest project we have ever won and, inclusive of our recent win in Taiwan, we have now secured $300 million worth of projects this quarter. We could not be more excited by our momentum and future," said CEO Jay Chandan.

The contract win is expected to deliver profitability for Gorilla Technology by the end of 2024.

Price Action: GRRR shares are trading up 55.9% at $3.26 premarket on the last check Friday.