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GFAIW

Guardforce AI Co., Limited

GFAIW

Guardforce AI Co., Limited • NASDAQ
$0.15 ▼ -0.67% (-0.00)
Market Cap $13.23 M
52w High $0.15
52w Low $0.14
Dividend Yield 0%
P/E -0.82
Volume 800
Outstanding Shares 88.80M

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 Revenue is very small and has not grown much over the last few years, which suggests the business is still in an early or niche stage. Gross profit only recently turned modestly positive, but operating results and net income remain in the red, meaning the core business is not yet covering its costs. Losses appear to have narrowed somewhat in the latest year, which is a mild positive trend, but the company is still clearly in an investment and build‑out phase rather than a mature, profitable one.

Balance Sheet

Balance Sheet The balance sheet is small and relatively simple. Total assets are limited, but cash makes up a meaningful share, which provides some short‑term flexibility. Debt has come down to effectively zero, easing financial pressure and interest burdens. Equity has slowly built up from a very thin base, indicating some strengthening of the capital position, but the overall scale of the company remains modest, and there is not a large cushion if results disappoint.

Cash Flow

Cash Flow Operating cash flow has hovered around break‑even in most years, with a period of noticeable cash burn earlier in the period. Investment spending (capital expenditure) has been modest, but even small outlays can be meaningful relative to the company’s size. Recent years show free cash flow around neutral, which points to tight but currently manageable cash dynamics; however, the lack of strong, consistent cash inflows highlights ongoing dependence on careful cost control and, potentially, external funding if growth investments accelerate.

Competitive Edge

Competitive Edge Guardforce AI is trying to differentiate itself by blending traditional security know‑how with AI and robotics, especially in Asia‑Pacific. Its long operating history in security logistics gives it relationships and trust that newer tech‑only rivals may lack. The Robot‑as‑a‑Service subscription model and integrated AI offerings can be attractive for customers that prefer flexible, bundled solutions. At the same time, the company is small and operates in highly competitive markets where large technology, robotics, and security firms also compete, so gaining scale, brand recognition in AI, and recurring contracts will be critical and uncertain.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation, with a proprietary cloud platform for managing robots, partnerships with large cloud providers, and work on advanced conversational AI agents. It is focusing on specific use cases—such as smart retail, travel assistants, and service robots—which can create distinct niches rather than competing broadly on general AI. This strategy can build a moat if adoption grows, but it requires ongoing R&D spending and successful commercialization. The key unknown is how quickly these innovative pilots and collaborations will translate into meaningful, repeatable revenue and better margins.

Summary

Guardforce AI is in the middle of a transformation from a traditional security provider into a small, AI‑driven robotics and services business. Financially, it remains loss‑making with limited scale, but there are early signs of margin improvement, reduced debt, and tighter cash management. Strategically, the company’s strength lies in its combination of long‑standing security relationships, a subscription robotics model, and focused AI solutions for retail and travel. The main risks center on its small size, intense competition, and the challenge of turning promising technology and partnerships into durable, profitable growth. The story is still in an early, execution‑heavy phase rather than a mature, steady‑state one.