Guardforce AI Co., Limited (GFAI) Revenue History
Annual and quarterly revenue from 2017 to 2024
Compound Annual Growth Rate (CAGR)
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GFAI Revenue Growth
GFAI Revenue Analysis (2017–2024)
As of May 8, 2026, Guardforce AI Co., Limited (GFAI) generated trailing twelve-month (TTM) revenue of $72.4 million, reflecting modest growth of +3.6% year-over-year. The most recent quarter (Q2 2025) recorded $18.2 million in revenue, down 3.1% sequentially.
Looking at the longer-term picture, GFAI's 5-year compound annual growth rate (CAGR) stands at -1.2%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $38.6 million in 2019.
When compared to Industrials sector peers including BCO (+7.3% YoY), VRRM (+9.7% YoY), and ARMK (+7.1% YoY), GFAI has underperformed the peer group in terms of 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 | +3.6% | -1.2% | -18.5% | |
 BCO | $5.3B | +7.3% | +7.3% | 11.3% | |
 VRRM | $979M | +9.7% | +20.0% | 24.4% | |
 ARMK | $18.5B | +7.1% | +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 (2017–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 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% |
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Start ComparisonGFAI — Frequently Asked Questions
Quick answers to the most common questions about buying GFAI stock.
Is GFAI's revenue growth accelerating or slowing?
GFAI revenue growth slowed to +3.6%, below the 5-year CAGR of -1.2%. TTM revenue is $72M. The deceleration marks a shift from historical growth rates.
What is GFAI's long-term revenue growth rate?
Guardforce AI Co., Limited's 5-year revenue CAGR of -1.2% reflects the variable expansion pattern. Current YoY growth of +3.6% is near this long-term average.
How is GFAI's revenue distributed by segment?
GFAI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2017-2024 are available for download. Segment mix reveals concentration and diversification trends.