Guardforce AI Co., Limited (GFAI)

Nasdaq: GFAI · Services-Detective, Guard & Armored Car Services · Singapore, SG · filing with the SEC since 2020

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Grade4.1

◀ Past 3.1● Present 3.7▶ Future 5.1

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Guardforce AI Co., Limited

Nine metrics read from its own filings, by tense

Headline grade

4.1/10

◀ Past3.125% of the headline

● Present3.735% of the headline

▶ Future5.140% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.1/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

7.6/10

Has it survived what it has been through?

No warning events in its filings since 2020.

weight 22% of this tense · 76th percentile among 35 sector filers · read for itself

From the record

Guardforce AI Co., Limited's filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

2.7/10

What has it actually done, year after year?

-1.2% a year over 6 filed years; profitable in 1 of 6.

weight 45% of this tense · 27th percentile among 34 sector filers · read for its customers

From the record

Guardforce AI Co., Limited's 6 filed years say what it did: revenue went from $39 million in fiscal 2019 to $36 million in fiscal 2024, down 1.2% a year; it rose in 2 of 5 years; the deepest fall was 12% from fiscal 2019 to fiscal 2022; net income was positive in 1 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span-1.2%bottom 28% of its family
the share of years revenue rosebottom 16% of its family
the share of filed years with a profitbottom 13% of its family
the deepest fall from a revenue peak11.9%top 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

0.7/10

How has it treated the people who own it?

SI estimate 0.7/10, confidence 35 of 100 (one part).

weight 33% of this tense · 7th percentile among 35 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 7% of 35 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 35 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Guardforce AI Co., Limited's shareholder treatment is put at 0.7 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 7% of 35 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.7/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.5/10

Is it financially healthy right now?

ROE -18%: lost 18¢ per shareholder dollar. Leverage 28%: owes 28¢ per asset dollar.

weight 33% of this tense · 35th percentile among 35 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, Guardforce AI Co., Limited lost about 18 cents for every dollar of shareholders' money, and gross profitability: its products earned about 14 cents per dollar of everything the company owns. Leverage: it owed about 28 cents per dollar of assets, and net share issuance: its share count grew 70.9% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 19% of its family
return on equitybottom 23% of its family
gross profit against assetsbottom 18% of its family
the share count against the year beforebottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.5/10

How strong is its position in its industry?

bottom 24% of 35 in its family; net margin -16.1%.

weight 45% of this tense · 24th percentile among 35 sector filers · read for its customers

From the record

Guardforce AI Co., Limited's standing among 35 graded names in its industry family: revenue of $36 million in fiscal 2024 ranks in the bottom 24% by size; a net margin of -16.1% ranks in the bottom 24%; revenue growth of 1.6% a year over the last 3 filed years ranks in the bottom 25% (its annual reports).

What it rests on

revenue against the family$36.3Mbottom 24% of its family
net margin-16.1%bottom 24% of its family
three-year revenue growth1.6%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

6.5/10

What are the people in charge doing?

SI estimate 6.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 25 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 25 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 25 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Guardforce AI Co., Limited's leadership is put at 6.5 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 25 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.1/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.2/10

How much room does it have to grow?

bottom 42% of 35 in its family for room to expand.

weight 33% of this tense · 42nd percentile among 35 sector filers · read for itself

From the record

Guardforce AI Co., Limited's room to grow, from the newest filed statements (fiscal 2024): cash of $22 million against debt of $44 thousand leaves 49% of its assets as net cash, top 7% of its family; cash from operations less capital spending is -9.8% of revenue (bottom 21%); a gross margin of 17.2% (bottom 22%); research spending of 1.6% of revenue (bottom 31%) (its annual report).

What it rests on

cash less debt against assets49.0%top 7% of its family
cash from operations less capital spending against revenue-9.8%bottom 21% of its family
gross margin17.2%bottom 22% of its family
research spending against revenue1.6%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.9/10

What could actually drive growth from here?

bottom 49% of 34 in its family for growth drivers.

weight 45% of this tense · 49th percentile among 34 sector filers · read for its customers

From the record

Guardforce AI Co., Limited's growth drivers, from the filed years to fiscal 2024: revenue grew 1.6% a year over the last three filed years against -1.2% over all 6, speeding up (top 19% of its family); the newest year grew 0.2% (bottom 19%); research spending grew 143.1% a year (top 7%); capital spending grew -64% a year (bottom 5%) (its annual reports). Guardforce AI Co., Limited tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+2.8 points a yeartop 19% of its family
the newest year's revenue growth0.2%bottom 19% of its family
three-year growth of research spending143.1%top 7% of its family
three-year growth of capital spending-64.0%bottom 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.6/10

Did its newest year beat what its own record pointed to?

top 34% of 29 in its family for expectations against reality.

weight 22% of this tense · 66th percentile among 29 sector filers · read for its shareholders

From the record

Guardforce AI Co., Limited's newest year against its own record: revenue of $36 million in fiscal 2024 came in 2.1% below the $37 million its prior three years' pace pointed to (bottom 29% of its family); net income of $6 million against a prior three-year average of $18 million (top 26%); a net margin of -16.1% against -50.8% before (top 5%) (its annual reports).

What it rests on

revenue against the prior three years' pace-2.1%bottom 29% of its family
net income against the prior three years' average+67%top 26% of its family
net margin against its prior average+34.7 pointstop 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GFAI · research, not advice