Guardforce AI Co., Limited reported full‑year 2025 revenue of $35.23 million, an 8.0 % increase from $32.64 million in 2024. The growth was driven by a 15.3 % rise in the AI, Robotics‑as‑a‑Service (RaaS) and Smart Solutions segment, which now accounts for 13.4 % of total revenue. Higher demand for the company’s Smart Cash Solution from retail clients underpinned this segment’s expansion, while the legacy Secured Logistics business—still the dominant 86.6 % of revenue—grew 6.9 % to $30.44 million, supported by the expansion of its retail‑focused service lines in Thailand.
Gross profit climbed to $5.29 million, up $369,527 from $4.92 million in 2024, reflecting a stable gross margin as revenue grew. Net loss narrowed to $5.29 million, a 10.1 % improvement over the $5.88 million loss in 2024, largely due to a 23.3 % improvement in negative EBITDA, which fell to –$2.48 million from –$3.23 million. The tighter loss indicates better operating leverage and cost control as the company shifts revenue mix toward higher‑margin AI services.
Research and development spending surged to $837,719, a 115.4 % jump from $388,888 in 2024, underscoring Guardforce AI’s commitment to advancing its AI platform. Cash and cash equivalents stood at $24.55 million as of December 31 2025, providing a runway for continued investment in AI and robotics initiatives.
Management highlighted the public launch of the DVGO AI travel‑planning agent in January 2026, following a beta release in April 2025, as a key driver of the 2025 performance. Chairwoman and Chief Executive Officer Lei (Olivia) Wang stated, "2025 was a pivotal year for Guardforce AI. We accelerated the commercialization and revenue growth of our AI and Smart Solutions while maintaining a stable operating and revenue foundation for our Legacy Secured Logistics business. We also advanced AI application strategy through the launch of DVGO, extended traditional cash management services..." The company also announced the acquisition of MGAI in March 2026, expanding its AI portfolio into healthcare and education sectors.
The results illustrate Guardforce AI’s strategic transition from a legacy cash‑handling operation to an AI‑centric business model. Revenue growth in the AI segment, coupled with increased R&D investment and the launch of new AI products, signals a shift toward higher‑margin, scalable services. At the same time, the legacy business remains a stable revenue base, providing a cushion as the company invests heavily in future growth. The narrowing loss and improved EBITDA demonstrate that the company is managing costs effectively while expanding its high‑growth AI offerings, positioning it for continued transformation in the coming years.
The company’s cash position of $24.55 million supports ongoing investment in AI and robotics, while the acquisition of MGAI and the launch of DVGO reinforce Guardforce AI’s commitment to expanding its AI ecosystem across new verticals. These developments suggest a deliberate strategy to diversify revenue streams and strengthen its competitive position in the rapidly evolving AI and security services market.
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