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GFAI

Guardforce AI Co., Limited

GFAI

Guardforce AI Co., Limited • NASDAQ
$0.89 ▲ 15.32% (+0.12)
Market Cap $19.37 M
52w High $3.88
52w Low $0.58
Dividend Yield 0%
P/E -1.97
Volume 367.80K
Outstanding Shares 21.82M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $18.207M ▼ $5.436M ▼ $-2.236M ▲ -12.281% ▲ $-0.11 ▲ $-738.993K ▲
Q4-2024 $18.781M ▲ $7.684M ▲ $-4.017M ▼ -21.387% ▼ $-0.34 ▼ $-1.764M ▼
Q2-2024 $17.567M ▼ $5.295M ▼ $-1.848M ▲ -10.518% ▲ $-0.19 ▲ $-1.372M ▲
Q4-2023 $17.867M ▼ $12.338M ▲ $-15.752M ▼ -88.164% ▼ $-1.6 ▲ $-13.521M ▼
Q2-2023 $18.413M $10.252M $-13.819M -75.05% $-4.35 $-9.771M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $23.452M ▲ $47.509M ▲ $13.284M ▲ $34.276M ▲
Q4-2024 $21.936M ▲ $44.692M ▲ $12.703M ▲ $32.05M ▲
Q2-2024 $13.979M ▼ $36.184M ▼ $12.569M ▼ $23.686M ▼
Q4-2023 $20.235M ▼ $45.815M ▼ $20.662M ▼ $25.232M ▲
Q2-2023 $24.755M $64.145M $39.092M $25.145M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.236M ▲ $-729.61K ▲ $-557.693K ▼ $2.569M ▼ $23.452M ▲ $-1.524M ▲
Q4-2024 $-3.997M ▼ $-1.538M ▲ $-161.859K ▼ $9.143M ▲ $7.959M ▲ $-1.789M ▲
Q2-2024 $-1.848M ▲ $-1.829M ▼ $-149.047K ▲ $-4.435M ▼ $-6.33M ▼ $-1.843M ▼
Q4-2023 $-15.787M ▼ $-144.839K ▲ $-1.079M ▼ $-2.753M ▼ $-4.419M ▼ $-1.224M ▲
Q2-2023 $-13.819M $-1.047M $-1.046M $19.876M $17.825M $-2.093M

Five-Year Company Overview

Income Statement

Income Statement The company is still very much in “build and transition” mode on the income side. Revenue has stayed quite small and has not yet shown a strong upward inflection, while profitability remains negative. Gross profit has only recently turned meaningfully positive, which is a mild improvement, but operating losses continue because fixed costs and investments in new tech-heavy lines of business outweigh the revenue they bring in. Net losses have been persistent over several years, and per‑share losses look severe, amplified by past reverse stock splits. Overall, the income statement points to a business that is still searching for scale and profitability in its newer AI and robotics offerings while carrying the cost base of a listed company.

Balance Sheet

Balance Sheet The balance sheet is lean and relatively simple. The asset base is small, with only a modest cash cushion and limited other assets. On the positive side, debt has been coming down and is now low, so financial leverage and interest burdens do not appear to be major risks at the moment. Equity has gradually moved into clearly positive territory, indicating that past losses have not wiped out the capital base. However, the company does not have a large buffer to absorb prolonged heavy losses or big investment missteps. Financially, this looks like a small, lightly leveraged company that needs its growth strategy to gain traction to strengthen the balance sheet over time.

Cash Flow

Cash Flow Cash flow has been hovering around break‑even in recent years, which is better than heavy ongoing cash burn but still leaves limited room for error. Operating cash flow has improved from earlier negative levels, suggesting better cost control and slightly more efficient operations, but it is not yet robust. Capital spending has been modest, which helps conserve cash but may also reflect constraints on how aggressively the company can invest in growth. Free cash flow is roughly neutral, implying that, while the company is not rapidly draining its cash, it also does not yet generate the steady internal funding that would make its transformation more comfortable. Any setback in revenue or margin could quickly tighten liquidity.

Competitive Edge

Competitive Edge Guardforce AI occupies a niche position: a traditional security logistics provider trying to evolve into a tech‑enabled AI and robotics security platform. Its main competitive strengths are its long operating history, established relationships with a large base of retail and security clients in Asia, and its ability to bundle physical security, logistics, and digital/robotic solutions. This hybrid model can be attractive versus pure software players or pure guarding companies. However, the company is very small compared with global security and tech competitors, and the markets it is entering—AI, robotics, smart retail, and digital advertising—are crowded and fast‑moving. Its moat today is more about relationships, local knowledge, and integrated offerings than about sheer scale or brand power. Execution risk is high: it must successfully cross‑sell new tech products into its legacy base while defending that base from larger rivals and newer startups.

Innovation and R&D

Innovation and R&D Innovation is the clear strategic focus. The company is pushing into robotics‑as‑a‑service, AI‑driven security analytics, smart retail tools, and AI “agents” for sectors like travel and retail. Its Intelligent Cloud Platform gives it a central control layer for a fleet of robots and opens the door to adding new AI capabilities over time, including third‑party integrations. The product roadmap—ranging from disinfection and delivery robots to AI travel planners and advertising robots—shows ambition and creativity, but also indicates a wide spread of initiatives for a firm of this size. The key uncertainty is less about ideas and more about commercialization: turning pilots and proofs‑of‑concept into meaningful, recurring, high‑margin revenue, especially as it expands into new geographies like the United States and introduces more advanced capabilities such as spatial computing on robots.

Summary

Guardforce AI is a small company in the middle of a major transition: from a traditional, low‑margin security logistics operator to a tech‑heavy provider of AI, robotics, and smart service platforms. Financially, it remains loss‑making with a thin but improving gross margin, a small balance sheet, and cash flow that is close to neutral but not yet comfortably positive. Its historical strengths—long customer relationships and regional presence in Asia—give it a platform on which to layer new technology offerings, creating a differentiated “one‑stop” model for some clients. At the same time, it faces intense competition, limited financial resources, and significant execution risk as it tries to scale many innovative but still early‑stage products. The story is one of high strategic ambition and meaningful technological experimentation, set against a fragile financial base and the need to prove that the new AI and robotics businesses can grow fast enough to support and eventually transform the company’s economics.

NEWS

November 13, 2025 · 8:00 AM UTC

Guardforce AI Accelerates AI Agent Commercialization with Robotic Integration in Thailand

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November 5, 2025 · 8:00 AM UTC

Guardforce AI Advances Its AI-first Strategy with the Launch of DVGO Beta 2.0, Bringing AI Agent into Real-World Applications

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September 23, 2025 · 8:30 AM UTC

Guardforce AI Reports Interim Financial Results for the First Half of 2025, and Provides Business Update

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