Core Insights - Guardforce AI experienced a transformative year in 2024, marked by operational consolidation and a stronger revenue mix, particularly in AI innovation and higher-margin offerings [3][4] - The company reported a gross profit increase of approximately 16.1% in 2024 compared to 2023, with a gross profit margin rising to 17.2% from 14.9% [3][4] - Selling, distribution, and administrative expenses decreased by 20.7% to approximately $10.1 million in 2024, contributing to a narrowed net loss of $5.9 million, an improvement of 80.1% year-over-year [4][6] Financial Performance - Revenue for 2024 increased by approximately $0.07 million, or 0.2%, to approximately $36.3 million compared to 2023 [4] - Gross profit for 2024 was approximately $6.3 million, up from approximately $5.4 million in 2023 [4] - The net loss for the year narrowed significantly to $5.9 million from $29.6 million in 2023, with loss per share decreasing to $0.53 from $4.53 [4][13] Operational Highlights - The company serves over 25,000 retail stores globally, with retail becoming a top client segment, surpassing its traditional banking focus [3] - Guardforce AI advanced its Robotics-as-a-Service model in the Asia-Pacific region and launched its first AI-powered travel planning agent, DVGO [3] - The company aims to strengthen its secured logistics foundation and expand its retail client base while investing in AI research and development in 2025 [3] Cash Position - As of December 31, 2024, Guardforce AI had approximately $23.4 million in cash, cash equivalents, and restricted cash, compared to $21.9 million in 2023 [4][6]

Core Viewpoint - Guardforce AI Co., Limited will host a conference call on April 28, 2025, to discuss its financial results for the year ended December 31, 2024, along with updates on corporate progress and developments [1]. Group 1: Conference Call Details - The conference call is scheduled for 8:30 a.m. Eastern Time on April 28, 2025 [1]. - U.S. callers can dial toll-free 888-506-0062, while international callers can reach the call at 973-528-0011, using access code 436086 [2]. - A webcast of the call will be available on the Company's Investor Relations section of its website [2]. Group 2: Investor Engagement - Investors and interested parties are encouraged to submit questions to management via email before the call [3]. - A replay of the webcast will be accessible through April 26, 2026, on the Company's Investor Relations website [4]. - A telephone replay will be available approximately one hour after the call, accessible until May 12, 2025 [4]. Group 3: Company Overview - Guardforce AI Co., Ltd. is a global security solutions provider, focusing on secured logistics, AI, and Robot-as-a-Service (RaaS) [5]. - The company has over 40 years of professional experience and is expanding its RaaS solutions to improve operational efficiency, particularly in the Asia Pacific region [5].

Core Insights - Guardforce AI Co., Limited has launched a beta version of DeepVoyage Go (DVGO), an AI-powered travel planning tool that aims to revolutionize the travel industry by significantly reducing planning time and enhancing personalization [1][2][4] Company Overview - Guardforce AI is a global integrated security provider specializing in secured logistics, AI, and Robot-as-a-Service (RaaS), with over 40 years of experience and a strong customer base [5] Product Features - DVGO utilizes task-specific AI agents that mimic the expertise of professional travel advisors, cutting down planning time from days to hours while providing high-quality itineraries [2] - The tool is designed for both travel professionals and individual users, with a phased rollout that includes in-depth travel needs analysis and AI-powered communication [3] Market Strategy - The initial launch of DVGO targets the U.S. market, with plans for expansion into the Asia-Pacific region [3] - The product is currently available by invitation only, featuring a three-day free trial before transitioning to a subscription model [3] Leadership Perspective - The Chairwoman and CEO of Guardforce AI emphasized the transformative potential of AI agents in commercial applications, highlighting the company's commitment to integrating AI into practical productivity tools [4]

Core Viewpoint - Guardforce AI has renewed significant contracts with the Government Savings Bank in Thailand, reinforcing its position as a leading provider of secured logistics and cash management services in the region [1][3]. Group 1: Contract Details - Guardforce Cash Solutions Security has secured two multi-million-dollar contracts for cash center operations and secured logistics services for coins, each lasting three years [2]. - The renewed agreements will support over 1,000 branches of the Government Savings Bank, which represents more than 95% of its nationwide network [2]. Group 2: Company Position and Future Outlook - The renewal of contracts highlights the long-standing relationship between Guardforce AI and the Government Savings Bank, validating the company's status as Thailand's premier secured logistics provider [3]. - The ongoing trust from a government-backed institution is expected to provide a stable revenue stream, supporting future growth and innovation initiatives for the company [3]. - As Thailand's economy continues to grow, the company is well-positioned to meet the increasing demand from clients [3]. Group 3: Company Overview - Guardforce AI Co., Limited specializes in integrated security solutions, focusing on AI and robotics to enhance operational efficiency, particularly in the retail and travel sectors across the Asia Pacific [4]. - With 42 years of operational experience and a strong customer base, the company aims to elevate tailored AI solutions and expand its global presence [4].

Financial Performance - Total revenue for the six months ended June 30, 2024, was $17,566,844, a decrease of 2.43% compared to $18,005,603 for the same period in 2023[6] - Gross profit increased to $3,239,750, up 50.05% from $2,158,796 in the prior year[6] - Operating loss from continuing operations improved to $(2,081,862), significantly better than $(11,901,828) in the same period last year[6] - Net loss attributable to equity holders of the Company was $(1,847,594), compared to $(13,819,219) in the previous year, reflecting a substantial reduction in losses[6] - Total comprehensive loss for the period was $(2,614,125), compared to $(13,680,023) in the prior year, indicating improved financial performance[9] - For the six months ended June 30, 2024, the net loss from continuing operations was $1,877,146, compared to a net loss of $13,860,995 for the same period in 2023[15] - The company reported a net loss of $1,838,427 for the six months ended June 30, 2024, significantly improved from a net loss of $13,849,433 in the prior year[15] - The company reported a basic and diluted loss per share of $(0.18) for the six months ended June 30, 2024, compared to $(4.35) in the same period last year[6] Assets and Liabilities - Total assets decreased to $36,183,978 as of June 30, 2024, down 21.1% from $45,814,948 at the end of 2023[4] - Total liabilities decreased to $12,568,730, a reduction of 39.2% from $20,662,173 at December 31, 2023[4] - Cash and cash equivalents decreased to $13,979,217, down 30.5% from $20,235,227 at the end of 2023[3] - The total cash and cash equivalents, and restricted cash decreased to $15,501,772 as of June 30, 2024, from $26,030,392 as of June 30, 2023[15] - The total balance as of June 30, 2024, was $10,237,282, with an accumulated deficit of $(60,188,269)[13] Expenses and Cost Management - The company has made significant progress in reducing operating expenses, with selling, distribution, and administrative expenses decreasing to $(4,967,290) from $(6,683,850) year-over-year[6] - The company’s staff expenses for the six months ended June 30, 2024, were $3,141,756, a decrease of 12.78% from $3,602,127 in 2023[130] - Total selling, distribution, and administrative expenses for the six months ended June 30, 2024, were $4,967,290, a decrease of 25.66% compared to $6,683,850 in 2023[130] - The company recorded a valuation allowance of $22,949 for deferred tax assets not expected to be realized for the six months ended June 30, 2024, compared to $874,431 in 2023[117] Acquisitions and Investments - The Company acquired a 51% majority stake in Handshake Networking Ltd on March 25, 2021, and separated from it on February 6, 2024[25] - The Company acquired 100% of Guardforce AI Singapore Pte. Ltd. on November 1, 2021, which commenced AI&Robotics solution business[26] - The acquisition of Macau GF Robotics Limited was closed on February 9, 2022, for approximately $3,205 (MOP25,000)[28] - The acquisition of GF Robotics Malaysia Sdn. Bhd. was closed on January 20, 2022, for approximately $1 (RM1)[29] - The acquisition of Shenzhen Kewei Robot Technology Co., Ltd. was closed on March 22, 2022, for $10,000,000, paid in a mix of cash (10%) and restricted ordinary shares (90%)[40] - The acquisition of Beijing Wanjia Security System Co., Ltd. was closed on June 22, 2022, for $8,400,000, also paid in a mix of cash (10%) and restricted ordinary shares (90%)[41] - The Company will acquire robot-related business assets from Shenzhen Kewei for $2,100,000, fully paid in restricted ordinary shares[44] - InnoAI was acquired for RMB1 on May 13, 2024, and is dedicated to AI project research and development[46] Cash Flow and Liquidity - Cash flows from operating activities resulted in a net cash used of $1,808,989 for the six months ended June 30, 2024, compared to $1,046,862 in the same period of 2023[15] - The Company reported a net cash provided by investing activities of $134,703 for the six months ended June 30, 2024, contrasting with a net cash used of $1,046,308 in 2023[15] - The Company’s liquidity management strategy includes maintaining sufficient cash and cash equivalents, with cash generated from public offerings and operations being the primary source of working capital[63] Inventory and Receivables - The Company reported an allowance for slow-moving or obsolete robots' inventories of $nil for the six months ended June 30, 2024, compared to $3,090,283 for the same period in 2023[68] - The company reported inventories of $381,155 as of June 30, 2024, down from $506,403 as of December 31, 2023, reflecting a decrease of approximately 24.7%[89] - Trade receivables, net, were $5,316,983 as of June 30, 2024, compared to $5,630,805 as of December 31, 2023, indicating a decrease of about 5.6%[91] - The withholding tax receivable balance decreased to $1,871,427 as of June 30, 2024, from $2,224,846 as of December 31, 2023, a decline of approximately 16%[92] - The company recorded an allowance for doubtful accounts of $184,180 for the six months ended June 30, 2024, compared to $45,932 for the same period in 2023, representing a significant increase in provisions[91] Depreciation and Amortization - Depreciation and amortization of fixed and intangible assets for the six months ended June 30, 2024, was $1,556,922, down from $2,619,001 in 2023[15] - The company reported depreciation expense related to property, plant, and equipment of $526,206 for the six months ended June 30, 2024, compared to $1,057,117 for the same period in 2023, indicating a reduction in depreciation[97] - Amortization expense related to intangible assets was $214,632 for the six months ended June 30, 2024, compared to $535,568 for the same period in 2023[103] Related Party Transactions - The company engaged in related party transactions totaling $432,118 for services/products received in the first half of 2024, compared to $211,066 in 2023, representing an increase of approximately 104.5%[138] - As of June 30, 2024, the company had amounts due from related parties totaling $13,086, a significant decrease from $2,172,638 as of December 31, 2023[133] - The company recorded interest expense of $4,575 for borrowings from related parties for the six months ended June 30, 2024, down from $39,949 in 2023[137] Compliance and Regulations - The legal reserve requirement of $223,500 was met as of June 30, 2024, in compliance with Thailand's regulations[131] Shareholder Activities - The company completed a public offering on May 5, 2023, issuing 1,720,430 ordinary shares for gross proceeds of approximately $9.2 million at a price of $4.65 per share[124] - The company issued a total of 288,000 restricted ordinary shares to officers and employees for their service performed in 2023, with a fair value of $924,955[128] - The company issued 1,628,368 ordinary shares through an "At the Market Offering" for aggregate gross proceeds of $2,593,842 from July 1, 2024, to the date of the financial statement release[129]

Financial Performance - Gross profit increased by 50% in H1 2024 compared to H1 2023, driven by an improvement in gross profit margin from 12.0% to 18.4% [1][2] - Adjusted net income (Non-IFRS) was $0.1 million in H1 2024, compared to an adjusted net loss of $1.8 million in H1 2023 [2] - Selling, distribution, and administrative expenses decreased by 25.7% to $5.0 million in H1 2024 from $6.7 million in H1 2023 [2] - Operating loss improved by 82.5% to $2.1 million in H1 2024 from $11.9 million in H1 2023 [2] - Net revenue decreased by 2.4% to $17.6 million in H1 2024, primarily due to foreign currency exchange rate fluctuations [6] Business Highlights - The company expanded services to over 25,000 retail stores and achieved a 50% increase in gross profit in H1 2024 [2] - Guardforce Cash Solutions Security (Thailand) secured a 5-year contract to operate 50% of the Consolidate Cash Center operations in Chiang Mai, Thailand [3] - Guardforce Digital Machine (GDM) revenue increased by 74.3% to $0.8 million in H1 2024 [3] - Beijing Wanjia Security System Limited expanded security alarm solutions to an additional 3,900 stores, bringing the total to 12,000 stores in Mainland China [3] AI and Technology Development - The company developed GFAI Agents as the core technology foundation for AI Purchase and AI Travel Solutions [3] - Upgraded the Guardforce AI Intelligent Cloud Platform to integrate large language models and third-party APIs [3] - Developed a proof of concept for the AI Travel Assistant to optimize travel routes and real-time agenda adjustments [4] - Partnered with iApp Technology Co Ltd to launch "LinguaBot," enhancing chatbot capabilities for concierge services [4] - Launched RoboTravel Agent (RTA), an upgraded AIoT Robot Advertising solution for the travel industry [4] Strategic Initiatives - The company focused on consolidating legacy business, strengthening the client base in travel and retail sectors, and accelerating R&D in AI solutions [5] - Implemented cost reduction strategies that effectively lowered operating expenses [5] - Expanded AIoT Robot Advertising to the U.S., deploying over 200 robots [4] - Launched a decentralized spatial computing solution utilizing robots' unused computing power for complex tasks beyond advertising [4] Financial Position - As of June 30, 2024, the company had cash and cash equivalents and restricted cash of $15.5 million, compared to $26.0 million as of June 30, 2023 [2][7] - Total current assets were $22.7 million as of June 30, 2024, compared to $31.1 million as of December 31, 2023 [14] - Total liabilities were $12.6 million as of June 30, 2024, compared to $20.7 million as of December 31, 2023 [15]

Core Insights - Guardforce AI is expanding its AIoT Robot Advertising business into the U.S. market with the deployment of over 200 robots in New York, marking a significant milestone in its advertising strategy [1] - The company has completed a proof-of-concept for a decentralized spatial computing solution, set to launch in late August, which will enhance the efficiency of its robots and create additional revenue streams [1][3] Business Expansion - The deployment of robots in high-traffic areas such as restaurant entrances, supermarkets, and hotels aims to establish a robust advertising network that enhances visibility for local and national brands [2] - All robots are connected to the Guardforce AI Intelligent Cloud Platform (ICP), allowing advertisers to access real-time campaign data and optimize their strategies based on detailed exposure metrics [2] Technological Advancements - The upcoming decentralized spatial computing solution will enable robots to utilize their unused computing power for complex computations while performing their primary functions, thus maximizing efficiency [3] - Revenue will be generated based on the number of tasks completed and the total duration of robots' online time, providing a new revenue stream for the company [3] Leadership Perspective - The Chairwoman and CEO of Guardforce AI expressed excitement about the U.S. expansion and the positive market response, highlighting the growing demand for computing power in the AI and robotics sectors [4] - The company aims to localize these solutions and expand them to other regions in the future, indicating a strategic growth plan [4] Company Background - Guardforce AI Co., Limited is a global integrated solution provider focused on AI and robotics solutions to enhance operational efficiency, particularly in the retail and travel industries in the Asia Pacific [5] - The company has 42 years of operational experience and a strong customer base, positioning it well for global expansion and tailored AI solutions [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [1] - The news team covers various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [2] - Proactive has a strong presence in key finance and investing hubs with bureaus and studios located in major cities such as London, New York, Toronto, Vancouver, Sydney, and Perth [3] Group 2 - The company specializes in medium and small-cap markets while also keeping the community informed about blue-chip companies, commodities, and broader investment stories [4] - Proactive employs technology to enhance workflows and has a history of being a forward-looking technology adopter [5] - All content published by Proactive is edited and authored by humans, despite the occasional use of automation and software tools, including generative AI [6]

Core Insights - Guardforce AI is expanding its service offerings and enhancing client relationships, showcasing its competitiveness in the security and AI sectors [1][6] - Beijing Wanjia has significantly increased its business footprint, now managing over 120,000 video security channels and serving nearly 20,000 retail stores across the Asia Pacific region [3][8] Business Expansion - Beijing Wanjia has added security alarm system services for a flagship health and beauty brand, increasing its total security alarm system operations to over 12,000 stores, marking a 50% increase from the end of 2023 [3] - The company has also secured a contract with a well-known international coffeehouse chain, extending security services to all its stores and planning installations for nearly 1,000 additional stores over the next two years [9] Service Offerings - The company is broadening its offerings to include customized smart retail solutions, leveraging AI and data analysis to improve operational efficiency and loss prevention for retail clients [4][5] - Beijing Wanjia's smart retail analysis mode utilizes customer flow, demographics, and transaction data to enhance store security and customer service [4][5] Company Background - Established in 1996, Beijing Wanjia specializes in retail-focused security solutions, including CCTV and security alarm operations, and is advancing its capabilities with AI and data analysis [5] - Guardforce AI, founded in 1982, has transitioned towards becoming a total AI solution provider while maintaining a strong presence in the Asia Pacific region and expanding into the U.S. market [6]

Core Insights - Guardforce AI's subsidiary, Beijing Wanjia Security System Limited, has significantly expanded its contracts with two long-term retail clients, enhancing its service offerings and business footprint across nearly 20,000 retail stores in the Asia Pacific region [2][8]. Group 1: Company Overview - Beijing Wanjia Security System Limited, established in 1996, focuses on retail solutions, including smart retail solutions, CCTV, and security alarm operations [1]. - The company has integrated advanced technology in data cleaning and model building to improve retail operational efficiency and loss prevention systems [1]. - Currently, Beijing Wanjia operates in over 600 cities in China, serving a diverse client base [1]. Group 2: Business Expansion - The first client, a health and beauty brand, has added security alarm services for approximately 3,900 stores, increasing Beijing Wanjia's total security alarm operations to over 12,000 stores, marking a 50% increase from the end of 2023 [12]. - The second client, an international coffeehouse chain, has extended security alarm services to all its stores for two years and plans to install systems in nearly 1,000 stores nationwide [7][12]. - Beijing Wanjia currently manages over 120,000 video security channels across China, showcasing its capabilities in software development and operations [8]. Group 3: Technological Advancements - The company is enhancing its smart retail solutions by implementing AI and advanced data analysis, which significantly improves loss prevention efforts by analyzing customer flow, demographics, and behavior [3][8]. - Guardforce AI aims to further integrate robotics and AI into its retail offerings, aligning with its continuous development strategy [8].