Guardforce AI Co (GFAI) AI Stock Analysis

• Market Cap: $14.29M
• Dividend Yield: N/A
• Average Volume (3M): 634.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.80
• Revenue Growth: 4.38%
• EPS Growth: 74.69%
• Country: US
• Employees: 1,698
• Sector: Industrials
• Sector Strength: 72
• Industry: Security & Protection Services
• EPS (TTM): -0.03
• Shares Outstanding: 21,023,527
• 10 Day Avg. Volume: 565,594
• 30 Day Avg. Volume: 634,789
• PEG Ratio: 0.03
• Price to Book (P/B): 0.50
• Price to Sales (P/S): 0.44
• P/FCF Ratio: -4.39
• Enterprise Value/Market Cap: 0.17
• Enterprise Value/Revenue: 0.07
• Enterprise Value/Gross Profit: 0.41
• Enterprise Value/Ebitda: -0.99
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $0.56 ▼(-2.93% Downside)

The score is driven primarily by weak financial fundamentals—ongoing net losses and negative operating cash flow—despite improved gross margin and a stronger balance sheet. Technicals also weigh on the score, with the price below all key moving averages and negative MACD. Valuation is limited by the company’s lack of profitability and no dividend yield data.

Positive Factors

Gross Margin Improvement

The significant improvement in gross margin indicates enhanced operational efficiency, which can lead to better profitability and competitive positioning over time.

AI and Robotics Expansion

Expanding AI operations and launching new products in Thailand positions the company for growth in emerging markets and strengthens its AI-first strategy.

Leverage Reduction

Reduced leverage enhances financial stability and lowers risk, providing more flexibility for future investments and growth opportunities.

Negative Factors

Negative Operating Cash Flow

Negative operating cash flow indicates challenges in generating cash from core operations, which could impact the company's ability to fund growth and meet obligations.

Nasdaq Compliance Warning

Non-compliance with Nasdaq's minimum bid price requirement poses a risk to the company's listing status, potentially affecting investor confidence and market perception.

Negative Profitability

Ongoing negative profitability suggests challenges in achieving sustainable earnings, which can hinder long-term financial health and investor returns.

Guardforce AI Co Business Overview & Revenue Model

Company Description

Guardforce AI Co., Limited offers cash solutions and cash handling services in Thailand. The company's services include cash-in-transit, vehicles to banks, ATM management, cash center operations, cash processing, coin processing, and cheque center services, as well as cash deposit machine solutions, such as cash deposit management and express cash services. Its customers include local commercial banks, chain retailers, coin manufacturing mints, and government authorities. The company was incorporated in 2018 and is based in Singapore.

How the Company Makes Money

Guardforce AI Co generates revenue through multiple streams including the sale of its AI-powered security robots and systems, ongoing service contracts for maintenance and support, and subscription fees for its software platforms. The company also partners with various organizations to provide tailored security solutions, which can lead to additional revenue from joint ventures or collaborative projects. Furthermore, GFAI may benefit from government contracts and grants aimed at enhancing public safety through technology, contributing to its overall earnings.

Guardforce AI Co Financial Statement Overview

Summary

Operational efficiency improved with gross margin rising from 4.2% (2023) to 17.2% (2024) and leverage declining (debt-to-equity down to 0.08). However, profitability remains weak with negative net income/EBIT margins and negative operating cash flow, indicating ongoing earnings and liquidity pressure.

Income Statement

Guardforce AI Co has shown a significant improvement in gross profit margin from 4.2% in 2023 to 17.2% in 2024, showcasing enhanced operational efficiency. However, the company is struggling with negative net income and EBIT margins, indicating ongoing challenges in achieving profitability. The slight revenue growth of 0.2% from 2023 to 2024 is a positive sign but indicates limited expansion in market reach.

Balance Sheet

The debt-to-equity ratio has improved significantly from 0.26 in 2023 to 0.08 in 2024, reflecting reduced leverage and enhanced financial stability. The equity ratio improved to 71.7%, indicating a stronger capital structure. However, the return on equity remains negative due to continuous net losses, suggesting underperformance in generating shareholder value.

Cash Flow

Operating cash flow is negative, indicating challenges in generating cash from core operations. The free cash flow has decreased, showing strain on financial flexibility. The company's reliance on financing activities to cover operational deficits might pose long-term risks if not managed properly.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	36.99M	36.35M	36.28M	33.97M	34.67M	37.65M
Gross Profit	6.00M	6.26M	1.53M	1.23M	2.81M	6.11M
EBITDA	-2.50M	-3.14M	-23.29M	-11.35M	-207.04K	3.03M
Net Income	-6.25M	-5.86M	-29.57M	-18.56M	-5.48M	-3.13M
Balance Sheet
Total Assets	47.51M	44.69M	45.81M	61.34M	42.06M	36.36M
Cash, Cash Equivalents and Short-Term Investments	23.45M	21.94M	20.24M	6.93M	12.73M	8.41M
Total Debt	2.93M	2.61M	6.64M	28.41M	26.02M	26.79M
Total Liabilities	13.28M	12.70M	20.66M	42.16M	35.48M	38.47M
Stockholders Equity	34.28M	32.05M	25.23M	19.24M	6.49M	-2.16M
Cash Flow
Free Cash Flow	-3.31M	-3.63M	-3.32M	-26.84M	-5.20M	3.23M
Operating Cash Flow	-2.56M	-3.33M	-1.19M	-19.19M	52.96K	4.66M
Investing Cash Flow	-719.55K	200.39K	-2.13M	-9.41M	-5.22M	-1.43M
Financing Cash Flow	11.71M	4.71M	17.12M	20.94M	10.65M	-1.13M

Guardforce AI Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 0.58 is below the 20-day moving average (MA) of 0.72, below the 50-day MA of 0.80, and below the 200-day MA of 1.04, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 44.84 is Neutral, neither overbought nor oversold. The STOCH value of 65.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GFAI.

Guardforce AI Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
AVAV	62 Neutral	$17.22B	―	-2.64%	―	79.89%	-171.81%
ARLO	59 Neutral	$1.47B	393.18	3.80%	―	-2.83%	―
BKYI	47 Neutral	$6.55M	-0.59	-143.60%	―	-1.19%	86.72%
GFAI	44 Neutral	$14.29M	-1.50	-21.54%	―	4.38%	74.69%
DGLY	42 Neutral	$2.07M	>-0.01	-233.66%	―	-9.62%	95.79%

Guardforce AI Co Corporate Events

Guardforce AI Adopts Long-Term Shareholder Rights Plan to Deter Hostile Takeovers

On December 15, 2025, Guardforce AI Co.’s board adopted a shareholder rights plan, issuing one right for each ordinary share outstanding as of that date, with each right allowing holders to purchase a preferred share at a set price under a newly signed Rights Agreement with VStock Transfer as rights agent. The plan is designed to deter hostile or coercive takeover attempts by triggering substantial dilution for any investor that acquires 10% or more of the company’s voting power without board approval (with a higher initial threshold for founders), and includes standard flip‑in and flip‑over features, redemption and exchange options at the board’s discretion, anti‑dilution adjustments, and an expiration date of December 15, 2035, signaling a move to protect existing shareholders’ interests and give the board greater leverage in any future control contest.

The most recent analyst rating on (GFAI) stock is a Hold with a $0.88 price target. To see the full list of analyst forecasts on Guardforce AI Co stock, see the GFAI Stock Forecast page.

Guardforce AI Receives Nasdaq Minimum Bid Price Compliance Warning

On December 17, 2025, Guardforce AI announced that it received a Nasdaq notification for non-compliance with the minimum bid price requirement set at $1.00 per share over a 30-day period from October 30 to December 11, 2025. While the deficiency does not immediately affect listing, the company has until June 10, 2026, to regain compliance and is actively considering strategies to address this issue, signaling its commitment to sustaining shareholder confidence and maintaining Nasdaq listing status.

The most recent analyst rating on (GFAI) stock is a Hold with a $0.88 price target. To see the full list of analyst forecasts on Guardforce AI Co stock, see the GFAI Stock Forecast page.

Guardforce AI Launches DVGO Beta 2.0 and Expands AI Operations in Thailand

Guardforce AI Co., Ltd. announced significant advancements in its AI-first strategy with the launch of DVGO Beta 2.0 on November 5, 2025, and the upcoming rollout of its AI Agent platform and Robotics-as-a-Service operations in Thailand on November 13, 2025. These developments mark major milestones in unifying its human-centered AI ecosystem, aiming to empower travel professionals and enhance service precision. The DVGO Beta 2.0 serves as an AI-powered copilot for travel advisors, integrating seamlessly into workflows and reducing planning time significantly. The company’s initiatives reflect its commitment to delivering intelligent, human-centered AI solutions that transform real-world industries, with implications for expanding within the travel and consumer ecosystems.

The most recent analyst rating on (GFAI) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Guardforce AI Co stock, see the GFAI Stock Forecast page.