Guardforce AI (NASDAQ:GFAI) used its fiscal 2025 results call to highlight an 8% revenue increase, continued stability in its legacy secure logistics operations, and accelerating growth in its AI, robotics, and smart solutions segment. Chairwoman and CEO Olivia Wang said 2025 marked “meaningful operational progress,” including the launch of new AI initiatives and wider deployment of the company’s smart retail solution across Thailand.
2025 operational highlights: DVGo launch and smart retail deployments
Wang said the company’s technology initiatives were a central focus in 2025. In April 2025, Guardforce AI launched a beta version of its self-developed AI travel agent, DeepVoyage Go (DVGo), which she said was released to the public in early 2026. Wang described DVGo as an AI agent designed to help travelers plan trips and generate itineraries, adding that the product aims to convert a traveler’s preferences and experiences into “digital assets that can be shared with others and monetized.”
Wang also pointed to acquisitions as a growth driver. She said the company expanded AI implementation into education and healthcare through its March 2026 acquisition of MGAI Limited, which she described as a pioneer in AI-driven solutions for pediatrics, speech therapy, and rehabilitation in Asia. According to Wang, the acquisition is intended to help Guardforce AI pursue scalable opportunities across multiple verticals.
Revenue rises to $35.2 million as AI segment outpaces legacy growth
Financial Controller Melody Yang reported total revenue rose 8% year over year to $35.2 million, compared with $32.6 million in 2024. Yang said legacy secure logistics represented 86.6% of 2025 revenue and AI, robotics, and smart solutions accounted for 13.4%.
Yang said legacy secure logistics delivered 6.9% year-over-year growth and “over 99% recurring revenue,” with the expansion “primarily driven by the expansion of our retail-focused service lines in Thailand.” She said the AI, robotics, and smart solution segment posted 15.3% growth, supported mainly by increased demand from retail customers for the company’s Smart Cash Solution.
In response to an investor question on segment breakdown, Yang added that the second half of 2025 showed “a clear acceleration in AI and smart solution deployments in Thailand,” and said management believes the revenue mix is “gradually shifting towards high-margin, technology-driven income streams,” while legacy services remain a stable base.
Profitability metrics: gross profit growth and narrower losses
Yang said gross profit increased 7.5% to $5.3 million in 2025 from $4.9 million in 2024, with gross margin stable year over year. She also said Guardforce AI has achieved gross profit growth in every year since 2022.
Research and development expense rose to approximately $0.8 million, up 115.4% from about $0.4 million in 2024. Yang said the increase reflected the company’s efforts to advance AI capabilities and product innovation, noting the R&D team continued work on the AI robotic solutions platform, ICP 3.0, which she called “the core platform for our next generation AI solutions.”
Yang reported the company recorded its lowest net loss from continued operations since 2021, narrowing by $0.6 million, or 10.1%, compared with 2024. She also said Guardforce AI achieved its lowest operating loss since 2022, improving by $0.8 million, or 12.4%, driven by higher gross profit and lower expenses.
Balance sheet: higher cash, held-for-sale classification tied to divestiture
At year-end 2025, cash and cash equivalents were $24.5 million, up from $21.9 million at year-end 2024. Yang said the resources were “primarily reserved for future AI investments,” including R&D, recruiting, and strategic acquisitions.
Yang reported working capital of $27.7 million as of December 31, 2025, and a current ratio of 5.32. She also said non-current liabilities increased mainly due to newly recognized lease liabilities from recently signed lease agreements.
Additionally, Yang said Guardforce AI classified certain assets and liabilities as held for sale in connection with the divestiture of its general security segment in 2025, describing the move as part of an effort to streamline the portfolio and focus on higher-growth, AI-driven opportunities.
2026 priorities: expand DVGo, leverage ICP 3.0, and cross-sell smart solutions
Looking ahead, Wang said Guardforce AI plans to deepen investment in AI by advancing DVGo. While the initial use case is travel, Wang said DVGo was designed as a modular agent that can extend across industries such as banking, hospitality, education, and healthcare. She said the goal is to scale DVGo “from a vertical solution into cross-industry agent platform.”
Wang said Guardforce AI views mergers and acquisitions as a strategic tool rather than expansion “for its own sake,” describing MGAI as strengthening the company’s “capability layer,” with DVGo as the interface layer and ICP 3.0 as the infrastructure. She also said the company plans to accelerate cross-selling smart solutions across its existing retail client base in Thailand, aiming to evolve from a service provider to an integrated solutions partner. Wang said the company believes this could unlock incremental revenue in 2026 and beyond and support cost optimization and margin improvement across segments.
During Q&A, Wang also addressed NASDAQ compliance and the company’s share buyback program, saying maintaining compliance is a priority and that the company is managing both operational performance and capital strategy. She described the buyback program as “a tool, not the core strategy,” adding that the company’s primary objective is improving business performance and investor confidence through execution.
On platform strategy, Wang described ICP 3.0 as Guardforce AI’s Intelligent Cloud Platform that connects business lines including DVGo and robotics services and is expected to support MGAI as well. She said the company is in the early stages of full rollout and is seeing increasing adoption among enterprise clients seeking integrated solutions. Wang said management is currently prioritizing depth of integration—such as how many modules are used and how embedded the platform becomes in customer operations—rather than focusing only on client count, with a long-term goal of driving higher contract value and stronger retention.
About Guardforce AI (NASDAQ:GFAI)
Guardforce AI Limited (NASDAQ:GFAI) is a developer of AI-powered robotics and automation solutions for security, health and service applications. Its offerings include autonomous patrol robots equipped with advanced computer vision and sensor fusion capabilities, disinfection robots utilizing UV and spray systems, and last-mile delivery units, all coordinated through a proprietary cloud-based management platform. These integrated solutions enable clients to enhance physical security, improve hygiene standards and optimize operational efficiency.
Established in 2021 and publicly listed on the Nasdaq stock exchange, Guardforce AI leverages its engineering expertise in machine learning algorithms and real-time analytics to meet the evolving needs of industries such as manufacturing, logistics, retail, healthcare and public infrastructure.
