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Guardforce AI Co
(NASDAQ:GFAI)
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Rating:46Neutral
Price Target:
$0.30
▼(-26.59% Downside)
Action:Reiterated
Date:09/09/26
The score is held down primarily by weak operating fundamentals—ongoing losses, inconsistent/declining revenue, and persistently negative operating and free cash flow—despite meaningful balance-sheet deleveraging. Technical indicators are neutral with only modest positive momentum and a still-weak longer-term trend, while valuation is difficult to support given the negative P/E and no dividend yield.
Positive Factors
Substantially Lower Leverage
The sharp reduction in debt relative to equity lowers balance-sheet risk and should reduce pressure from financing obligations. This gives Guardforce AI greater flexibility to preserve cash, support operations, and pursue its security and AI businesses without relying as heavily on leverage.
Negative Factors
Persistent Net Losses
Ongoing annual losses show that the business has not yet converted its service and technology activities into durable profitability. A negative TTM margin limits internally funded growth, weakens earnings quality, and leaves results sensitive to revenue volatility and execution improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Substantially Lower Leverage
The sharp reduction in debt relative to equity lowers balance-sheet risk and should reduce pressure from financing obligations. This gives Guardforce AI greater flexibility to preserve cash, support operations, and pursue its security and AI businesses without relying as heavily on leverage.
Read all positive factors
Guardforce AI Co (GFAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.67M
Dividend YieldN/A
Average Volume (3M)171.61K
Price to Earnings (P/E)―
Beta (1Y)2.18
Revenue Growth-4.57%
EPS Growth21.93%
CountryUS
Employees1,657
SectorIndustrials
Sector Strength72
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)-0.35
Shares Outstanding31,393,337
10 Day Avg. Volume106,371
30 Day Avg. Volume171,609
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.36
Price to Sales (P/S)0.35
P/FCF Ratio-7.38
Enterprise Value/Market Cap-0.58
Enterprise Value/Revenue-0.16
Enterprise Value/Gross Profit-1.27
Enterprise Value/Ebitda1.64
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.12
Revenue Forecast (FY)$39.42M
Guardforce AI Co Business Overview & Revenue Model
Company Description
Based in Singapore and incorporated in 2018, Guardforce AI Co., Limited specializes in providing comprehensive cash management and secure currency handling services across Thailand. Their extensive portfolio encompasses secure cash transportation,...
How the Company Makes Money
GFAI primarily makes money through service and solution revenues. (1) Cash logistics / cash handling services: the company earns fees from providing cash-in-transit, cash management, and related cash processing/handling activities for commercial c...
Guardforce AI Co Earnings Call Summary
Earnings Call Date:Apr 28, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:May 03, 2027
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with several significant achievements, including the first operating profit since IPO, strong cash reserves, and substantial growth in key segments like retail. While there are challenges related to ongoing net losses and initial low margins for new AI products, the company's strategic advancements and improvements in financial metrics strongly outweigh these concerns.Positive Updates
First Operating Profit Since IPO
The company recorded its first operating profit since its IPO, which is a significant milestone following the challenges of the pandemic.
Negative Updates
Ongoing Net Loss and Capital Expenditures
Despite improvements, the company still faces challenges with ongoing net losses and recurring capital expenditures.
Read all updates
Q4-2024 Updates
Positive
Negative
First Operating Profit Since IPO
The company recorded its first operating profit since its IPO, which is a significant milestone following the challenges of the pandemic.
Read all positive updates
Company Guidance
During the Guardforce AI 2024 Year-End Conference Call, the company provided guidance on its strategic focus and financial performance. The company reported a revenue of $32.4 million for 2024, marking a 1.7% increase from the previous year, primarily driven by demand from retail-focused service lines in Thailand. Notably, the company achieved a historical gross profit margin of 17%, and a significant reduction in net loss by 80.1% to $5.9 million. The company's AI-centric business transition was highlighted, with a notable investment of $591,000 in research and development, a 2.5-fold increase from the prior year. The launch of DVGO, an AI-powered travel planning agent, was emphasized as a key strategic initiative expected to diversify revenue and enhance profit margins over time. The company's balance sheet remained strong, with total assets at $44.7 million, including $23.4 million in cash and cash equivalents. The leadership reiterated a focus on scaling AI solutions, improving operational efficiency, and expanding into new verticals such as travel, retail, and education.Guardforce AI Co Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
68
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.30M | 35.23M | 35.02M | 36.28M | 33.97M | 35.15M |
| Gross Profit | 4.40M | 5.29M | 4.93M | 1.53M | 1.23M | 2.81M |
| EBITDA | -3.40M | -2.59M | -3.39M | -23.29M | -11.35M | -207.05K |
| Net Income | -7.52M | -6.66M | -5.86M | -29.57M | -18.56M | -5.48M |
Balance Sheet | ||||||
| Total Assets | 44.26M | 49.09M | 44.69M | 45.81M | 61.34M | 42.06M |
| Cash, Cash Equivalents and Short-Term Investments | 21.33M | 24.62M | 21.94M | 20.24M | 6.93M | 14.33M |
| Total Debt | 4.04M | 4.22M | 2.61M | 6.64M | 28.41M | 24.28M |
| Total Liabilities | 13.64M | 14.99M | 12.70M | 20.66M | 42.16M | 35.48M |
| Stockholders Equity | 30.68M | 34.15M | 32.05M | 25.23M | 19.24M | 6.54M |
Cash Flow | ||||||
| Free Cash Flow | -612.30K | -1.65M | -3.63M | -3.32M | -25.01M | -4.27M |
| Operating Cash Flow | -216.25K | -1.31M | -3.33M | -1.19M | -17.37M | 979.16K |
| Investing Cash Flow | -567.03K | 231.59K | 200.39K | -2.13M | -9.41M | -5.22M |
| Financing Cash Flow | -424.76K | 3.30M | 4.71M | 17.12M | 20.94M | 10.65M |
Guardforce AI Co Technical Analysis
Negative
0.41
Price Trends
0.35
Negative
0.39
Negative
0.47
Negative
Market Momentum
-0.01
Positive
36.18
Neutral
1.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GFAI, the sentiment is Negative. The current price of 0.41 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.35, and below the 200-day MA of 0.47, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 36.18 is Neutral, neither overbought nor oversold. The STOCH value of 1.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GFAI.
Guardforce AI Co Risk Analysis
Guardforce AI Co disclosed 59 risk factors in its most recent earnings report. Guardforce AI Co reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Divestiture of the previously acquired Handshake may affect certain investors' interest in our business growth. Q4, 2023
2.
Risk relating to research and development activities on AI technology. Q4, 2023
3.
We may encounter provisions and impairments on our assets due to our business model and the development of our AI and robotics business, particularly amidst the fast-changing technologies. Q4, 2023
Guardforce AI Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.38B | 44.34 | 21.25% | ― | 15.65% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | $7.16B | -24.20 | -6.64% | ― | 84.44% | -541.91% | |
48 Neutral | $3.05M | -0.52 | -53.82% | ― | -0.79% | 67.82% | |
46 Neutral | $9.67M | -0.88 | -23.20% | ― | -4.57% | 21.93% |
* Industrials Sector Average
GFAI
Guardforce AI Co
0.31
-0.89
-74.42%
AVAV
AeroVironment
140.82
-251.06
-64.07%
BKYI
BIO-key International
2.12
-5.63
-72.65%
ARLO
Arlo Technologies
12.78
-4.39
-25.57%
IVDA
Iveda Solutions
0.29
-1.26
-81.35%
Guardforce AI Co Corporate Events
Guardforce AI Calls October 27 EGM to Approve Major Capital and Dual-Class Share Restructuring
Oct 2, 2026
On October 2, 2026, Guardforce AI Co., Limited announced it will convene an extraordinary general meeting of shareholders on October 27, 2026 in Hong Kong, with hybrid attendance via Zoom. The meeting is called to seek shareholder approval for a s...
Guardforce AI Files H1 2026 Unaudited Results and Updates Investors on Financial Position
Sep 23, 2026
Guardforce AI Co. filed a Form 6-K on September 23, 2026, furnishing unaudited interim condensed consolidated financial statements for the six months ended June 30, 2026 and 2025. The filing also updates investors by incorporating these interim re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.