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Tag: Guardforce AI

  • Guardforce AI Co. Ltd. (GFAI) stock Tumbles Down After Hours on Fiscal 2021 Year-End Results

    Guardforce AI Co. Ltd. (GFAI) stock Tumbles Down After Hours on Fiscal 2021 Year-End Results

    The integrated security solutions provider, Guardforce AI Co. Ltd. (GFAI) has been hell-bent on expanding its geographic presence since its recent IPO. The company made its public debut in October 2021 and has since been working tirelessly on expanding its Robotics-as-a-Service business (RaaS). The latest expansion in the business encompassed Dubai and Australia.

    The Thailand-based company went down over 79.6% after its IPO last year but has since recovered more than 44.4% this year. This recovery can be attributed to the company’s commitment to growth and expansion thus far.

    Latest Hit Down

    Having said that, the latest happenings have not proved helpful towards the stock as GFAI’s upsurge on the Dubai and Australia expansion was cut short by a downfall. The stock was enjoying bullish momentum over the previous news of the expansion that the company posted 2021 year-end results on March 30, 2022. The earnings report caused a reversal in the stock’s momentum making its plunge down by 7.05% in the after-hours on Wednesday. In the prior session, the stock remained bullish with a gain of 12.23% at its close of $1.56. The not-so-impressive earnings resulted in the stock trading at $1.45 per share in the after hours.

    Source: Achieva

    GFAI’s Fiscal 2021 Insight

    Impacted by the uncontrolled resurgence of Covid-19 in Thailand, GFAI’s 2021 revenue declined by 6.6% YOY to $35.2 million. Despite the negative impact of the outbreak on customer orders, the company’s GDM products continued their increase to report a growth of 12.9% in 2021. Thus, the resulting GDM product revenue was $1.6 million for 2021.

    Moreover, 2020’s EBITDA of $3.0 million converted into a loss of $0.2 million in 2021 on non-IFRS measurements.

    An increase in administrative expenses caused the non-IFRS net income to reduce to $1.8 million from $4.8 million in the previous year. Resulting in a non-IFRS EPS of $0.10 in 2021, against $0.28 in 2020.

    Any Betterment for 2022?

    Even though the company’s 2021 financials were a disappointment, all is still not lost as GFAI is looking forward to a much better result in 2022. Remaining hopeful about the fruits of its recently expanded business and ongoing plus expected acquisitions, the company expects 2022 revenue growth of 66% YOY. Therefore, the expected revenue is $55-$60 million for the year.

    The company incorporated its Australian subsidiary in February 2022 and Dubai’s in March 2022. Furthermore, GFAI has also inked LOI to acquire up to 36 China subsidiaries of Kewei Group.

  • Guardforce AI Co. Ltd. (GFAI) stock Advances Further After Hours. Here’s why?

    On March 08, Guardforce AI Co. Ltd. (GFAI) stock advanced further in the after-hours while it had added 25.93% during the regular session. There is no recent announcement or SEC filing from the company to explain the bullish momentum. Moreover, the company has not announced any upcoming conference participation either.

    During the regular session, investors flocked towards the stock to make it trade at an active volume of 10.87 million. After trading between $0.4317 and $0.6000, the stock closed the session at a price of $0.5901. GFAI stock added $0.1215 or 25.93% during the regular trading session. Following this, the stock remained bullish in the after-hours as well. Thus, the stock reached a price of $0.6475 in the after-hours as it added a further 9.73%. The volume of shares traded in the after-hours was 3.21 million shares.

    GFAI stock Movement

    The latest news of the company dates back to March 1 while the most recent SEC filing was submitted on March 03. Since there is no recent news after that, the stock’s current movements seem to be due to external factors.

    The stock had been in a downtrend since March 04 to rebound on Monday. Following this, GFAI continued a bullish trend in both the regular and after-hours trading sessions. It seems the stock’s recent bullishness can be attributed to social media chatter and stock sentiment.

    Standing at a year-to-date loss of 45.36%, the stock declined by a huge 92.13% in the past year.

    GFAI’s U.S. Market Entry Developments

    On March 01, the company announced a strategic partnership with SBC Global Holdings Inc., in lieu of the previously proposed acquisition. GFAI and SBC agreed upon the partnership for speeding up the company’s entry into the U.S. markets with its solutions.

    Source: Planview

    According to the terms, for market penetration, the company would establish a U.S. subsidiary (wholly-owned).  Moreover, the company will also commit additional resources for developing the business and work closely with SBC. And SBC will refer all clients to GFAI on an exclusive basis.

    Preliminary Fiscal 2021 Results

    As announced on January 11, the company expects $33-$35 million in revenue for fiscal 2021. This marks a decline of 9.3% to 14.5% YOY.

    Furthermore, inorganic revenues and non-cash revenues are expected to be $0.5 million and $0.8 million, respectively.

    2022 Outlook

    For fiscal 2022, GFAI expected net revenue to grow over 66% YOY to $55-$60 million.

    The inorganic and non-cash revenues are expected to be $21 million and $25.5 million, respectively.

  • Guardforce AI Co. Ltd. (GFAI) stock Falls Under Corrections After Hours Following a Mammoth Gain

    Guardforce AI Co. Ltd. (GFAI) stock Falls Under Corrections After Hours Following a Mammoth Gain

    On February 25, Guardforce AI Co. Ltd. (GFAI) stock gained a huge 45.44% during the regular trading session. Consequently, the stock succumbed to corrections in the after hours. The huge gain seems to be related to the ongoing Russia-Ukraine conflict.

    In the regular session, GFAI stock was able to add $0.1868 or 45.44% at its closing price of $0.5979. The day’s volume was 26.51 million, a huge 665% of its average 3.99 million shares. Following the huge gain, the stock fell by 5.99% under corrections in the after-hours session. Hence, GFAI stock went down to a value of $0.5621 in the after-hours on Friday.

    The integrated security solutions provider, Guardforce AI Co. Ltd. has a market capitalization of $17.41 million. Currently, the company has 29.12 million shares outstanding in the market.

    What Happened?

    The conflict between Russia and Ukraine is escalating by the minute. This conflict and the imminence of a possible war have the stock markets crashing down with most stock trading at new lows. But on the flip side, certain penny stock seems to be gaining, particularly those related to cybersecurity. With the possibility of cyberattacks, cybersecurity stocks are gaining in the market. Thus, on Friday, GFAI stock gained good value as it provides information security consulting services. But following the huge gain, the stock was bound for corrections sooner or later. Therefore, the stock fell under corrections in the after hours.

    Given the huge gain on Friday, GFAI stock has added 57.80% in the past five days while it has lost 44.64% year to date. Moreover, the stock subtracted a value of 92.03% last year.

    GFAI’s Recent Developments

    On February 18, the company announced the deployment of over 1,400 robots in the Asia Pacific region, including Thailand, Singapore, Hong Kong Macau, and Malaysia. Multiple industries are part of the deployment, like supermarkets, govt. facilities, hospitals, hotels, transportation stations, educational institutions, and many more. This deployment is part of GFAI’s robotic solutions deployment for Covid-19 in key markets. The initial free trial base of concierge robots with temperature sensing and reception features will convert to fee-based monthly services. Phase two has started and is expected to gain momentum in the next few months.

    GFAI’s Preliminary 2021 Results

    For fiscal 2021, the company expects net revenue of $33-$35 million with a decline of 9.3-14.5% YOY.

    Furthermore, GFAI expects net revenue of $55-$60 million for fiscal 2022, an increase of over 66% YOY.