Guardforce AI Co., Limited (GFAI) Revenue History
Annual and quarterly revenue from 2017 to present
GFAI Revenue Over Time (2017–2025)
GFAI Revenue Growth History
4 of 8 years with positive growth- FY2017 revenue growth
- N/A
- FY2018 revenue growth
- +8.3%
- FY2019 revenue growth
- +3.3%
- FY2020 revenue growth
- -2.4%
- FY2021 revenue growth
- -7.9%
- FY2022 revenue growth
- -2.0%
- FY2023 revenue growth
- +6.8%
- FY2024 revenue growth
- +0.2%
- FY2025 revenue growth
- -3.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $17.0M | -9.3% |
| Q2 2025 | $18.2M | +3.6% |
| Q4 2024 | $18.8M | +5.1% |
| Q2 2024 | $17.6M | -4.6% |
| Q4 2023 | $17.9M | +1.9% |
| Q2 2023 | $18.4M | +8.7% |
| Q4 2022 | $17.5M | +4.7% |
| Q2 2022 | $16.9M | -7.9% |
GFAI Revenue Analysis (2017–2025)
Current Revenue & Growth
As of June 24, 2026, Guardforce AI Co., Limited (GFAI) generated trailing twelve-month (TTM) revenue of $71.6 million, reflecting moderate decline in growth of -9.3% year-over-year. The most recent quarter (Q4 2025) recorded $17.0 million in revenue, down 6.5% sequentially.
Historical Growth Trajectory
GFAI's 5-year compound annual growth rate (CAGR) stands at -1.3%, indicating revenue contraction over this period. The 3-year CAGR of +1.2% exceeds the 5-year average, indicating an acceleration in the most recent period. Guardforce AI Co., Limited's highest annual revenue of $38.6 million was recorded in 2019.
Peer Comparison
Compared to Industrials sector peers — including BCO (+7.3% YoY), VRRM (+9.7% YoY), and ARMK (+10.2% YoY) — GFAI has underperformed the peer group in revenue growth. Compare GFAI vs BCO →
GFAI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| GFAICurrent | $72M | -9.3% | -1.3% | -16.7% | |
 BCO | $5.3B | +7.3% | +7.3% | 11.2% | |
 VRRM | $979M | +9.7% | +20.0% | 24.4% | |
 ARMK | $18.5B | +10.2% | +7.6% | 4.3% | |
 ALLE | $4.1B | +8.9% | +8.4% | 21.1% | |
 SWK | $15.1B | -0.1% | +3.0% | 7.6% |
GFAI Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $35.2M | -3.1% | $5.3M | 15.0% | $-5,877,324 | -16.7% |
| 2024 | $36.3M | +0.2% | $6.3M | 17.2% | $-6,721,955 | -18.5% |
| 2023 | $36.3M | +6.8% | $1.5M | 4.2% | $-29,302,778 | -80.8% |
| 2022 | $34.0M | -2.0% | $1.2M | 3.6% | $-16,826,239 | -49.5% |
| 2021 | $34.7M | -7.9% | $2.8M | 8.1% | $-3,703,730 | -10.7% |
| 2020 | $37.6M | -2.4% | $6.1M | 16.2% | $-2,122,550 | -5.6% |
| 2019 | $38.6M | +3.3% | $4.5M | 11.6% | $-110,980 | -0.3% |
| 2018 | $37.3M | +8.3% | $5.7M | 15.2% | $1.2M | 3.2% |
| 2017 | $34.5M | - | $4.7M | 13.8% | $1.6M | 4.6% |
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
GFAI — Frequently Asked Questions
Quick answers to the most common questions about buying GFAI stock.
Is GFAI's revenue growth accelerating or slowing?
GFAI revenue is declining -9.3% year-over-year. TTM revenue fell to $72M, contrasting with the 5-year CAGR of -1.3%. The reversal reflects either macro headwinds or company-specific challenges.
What is GFAI's revenue history from 2017 to 2026?
Guardforce AI Co., Limited (GFAI) revenue history spans 2017 to 2026. TTM revenue as of 2026 is $72M, growing at -9.3% YoY. The 5-year CAGR is -1.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is GFAI's long-term revenue growth rate (CAGR)?
Guardforce AI Co., Limited's 5-year revenue CAGR of -1.3% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -9.3% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for GFAI.
Why does GFAI's quarterly revenue fluctuate?
GFAI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Guardforce AI Co., Limited's revenue data from 2017 to 2026 shows full historical quarterly detail on this page.
How is GFAI's revenue distributed by segment?
GFAI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does GFAI's revenue compare to industry peers?
Guardforce AI Co., Limited (GFAI) with TTM revenue of $72M and -9.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.