Guardforce AI Co., Limited Ordinary Shares - GFAI STOCK NEWS

Guardforce AI Co., Limited announced financial results for 2022. Despite a slight decrease in revenue of less than 2.0% due to COVID-19, the robotic AI segment revenue grew by 245.1%. The company secured a 5-year contract with the Bank of Thailand and two long-term contracts with pre-existing clients in Thailand. They expanded into mainland China through acquisitions and acquired key assets from Shenzhen Kewei Robot Technology Company. Guardforce AI is focusing on expanding their RaaS solutions and has made progress in developing the Guardforce AI Intelligent Cloud Platform. They also launched the AIoT Robot Advertising model and the Smart AI Hotel solution. The company expects to resume strong organic revenue growth in 2023.

Guardforce AI Co., Limited (NASDAQ:GFAI, GFAIW) reported its financial results for the year ending December 31, 2022, highlighting a net revenue decrease of 1.9% to $34.5 million due to COVID-19 disruptions. However, the robotic AI segment saw a remarkable growth of 245.1%. The company continued to diversify its secured logistics services, securing a 5-year contract with the Bank of Thailand and other long-term agreements in the retail and tollway sectors. Financially, the gross profit margin improved from 11.6% to 12.3%. Nonetheless, operational challenges led to a significant rise in operating loss to $16.9 million, up from $3.7 million in 2021. Guardforce AI's net loss reached $18.7 million, and cash reserves decreased to $8.2 million. The company aims for stronger organic growth and expansion of its Robotics-as-a-Service (RaaS) platform in 2023.

Guardforce AI Co. (NASDAQ: GFAI, GFAIW) has announced a new contract with a local government office in Macau to deploy its Artificial Intelligence of Things (AIoT) Robot Advertising model on approximately 165 robots for 20 weeks. This innovative advertising model allows advertisers to utilize data from the Guardforce AI Intelligent Cloud Platform to enhance marketing strategies. With over 400 robots currently in Macau, Guardforce AI aims to leverage the increased tourism and event traffic following the easing of COVID-19 restrictions to promote various events. CEO Olivia Wang expressed optimism about growth opportunities through this model.

Guardforce AI has acquired certain robot business assets from Shenzhen Kewei Robot Technology for USD $2.1 million. The acquisition enhances Guardforce AI's Robot-as-a-Service (RaaS) capabilities and expands its geographic reach in China. It includes equipment, client relationships, related sales channels, and patent rights, which will strengthen the company’s AI capabilities. The deal was finalized on February 15, 2023, and payment will now be made with 262,500 restricted ordinary shares at $8.00 per share post a reverse stock split. This strategic move is expected to boost growth in various sectors, including tourism.

On February 2, 2023, Guardforce AI (NASDAQ: GFAI, GFAIW) completed a 1-for-40 reverse stock split, reducing its shares from approximately 64.8 million to about 1.6 million. This decision followed shareholder approval at an extraordinary general meeting on January 31, 2023. The reverse split is set to take effect on February 10, 2023, without altering the trading symbols of the company's ordinary shares and warrants. Fractional shares will be repurchased by the Company for cash based on the fair value on the first trading date post-split. This strategic move aims to improve the company's stock price and reduce the number of outstanding shares.

Guardforce AI Co., Limited (NASDAQ: GFAI, GFAIW) announced securing two long-term contracts through its subsidiary, Guardforce Cash Solutions Security (Thailand). The first contract, a 5-year agreement with Don Muang Tollway Public Company, involves managing cash handling services and Guardforce Deposit Machines at toll plazas. The second is a 3-year contract with a retail chain for cash services at 326 stores in northern Thailand. These contracts, starting Q1 2023, reinforce the company's strong market position and growth potential in secured logistics and cash handling in Thailand, especially post-pandemic.

Guardforce AI Co., Limited (NASDAQ: GFAI, GFAIW) has signed a deal to acquire certain assets from Shenzhen Kewei Robot Technology Company Ltd for approximately $2.1 million, fully paid in stock. The acquisition enhances Guardforce AI's Robot-as-a-Service capabilities and provides access to Kewei's client base and sales channels in China. This acquisition is projected to drive robotic-related revenue to about $12 million in 2023, with significant growth anticipated over the next three years. The transaction is expected to complete in Q1 2023.

Guardforce AI Co., Limited (NASDAQ: GFAI, GFAIW) announced the launch of its AIoT Robot Advertising (RA) model and the GFAI AD mobile app on the Apple App Store in Asia. This service allows advertisers to utilize Guardforce AI's robots for advertising, leveraging data analytics from the GFAI Intelligent Cloud Platform. With 6,000 robots deployed globally, the app offers e-payment integration for streamlined ad placements and is aimed at enhancing Digital Out-of-Home (DOOH) advertising strategies. The launch follows successful pilot feedback from Macau, with expansion plans into other markets.

Guardforce AI Co. (NASDAQ:GFAI, GFAIW) announced its participation at the Microcap Rodeo's Windy City Roundup 2022 Conference on October 12-13, 2022, in Chicago. CFO Brian Ma will present on October 13 at 10:00 a.m. CT, with the presentation available for live streaming. Investors can engage with management through one-on-one meetings. This annual event brings together over 60 microcap companies, offering insights into investment opportunities and industry trends. For more information, visit Guardforce AI's website.