Net revenue

Guardforce AI Co Limited expects to generate net revenues of $55-60 million in 2022

Guardforce AI (NASDAQ:GFAI) Co Limited said it expects to generate net revenue of between $55 million and $60 million in 2022, representing more than 66% growth from 2021 .

Inorganic revenue — businesses slated for acquisition in 2022 — is expected to bring in about $21 million, or 36% of total net income.

Additionally, the company said non-cash revenue, including robotics, cybersecurity and other non-cash security services revenue, is expected to reach approximately $25.5 million, or 44% of revenue. total net.

READ: Guardforce AI sets up subsidiaries in Dubai and Australia to focus on robotics

“Looking forward, we are working quickly on our pipeline of acquisition targets following a growth strategy of acquiring successful companies that are leaders in their fields,” said Terence Yap, president of Guardforce AI (NASDAQ :GFAI), in a press release.

“We continue to see industry-wide technological convergence between physical security, cybersecurity and facility management, and we are positioning Guardforce AI to benefit from these trends. As the effects of the COVID-19 pandemic continue to wane, we plan to consolidate our leadership position in secure logistics services in Thailand while leveraging our strengths to create new opportunities in technology sectors globally. international scale. »

Yap added, “2022 presents an exciting opportunity for Guardforce AI to continue our growth trajectory with customers, growing both our robotics and cybersecurity divisions and increasing shareholder value. I look forward to providing additional updates in the months to come.

Guardforce’s 2022 revenue outlook comes as the company announced its financial results for the fiscal year ended December 31, 2021.

Revenue was around $35.2 million last year, compared to $37.6 million for the same period of 2020.

The decline, the company said, was mainly due to the uncontrolled resurgence of COVID-19 since April 2021 in Thailand, significantly reducing the number of customer orders, partially offset by an increase and stronger demand for GDM products and products. Robotics AI Solutions activities.

Regarding the major milestones of the year, the company said it has deployed more than 1,400 robots in the Asia-Pacific region and expanded its presence in the United States with the creation of a wholly-owned American subsidiary and announced a strategic partnership with an American technology company. business as a service (TaaS).

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