Guardforce AI sees 50% gross profit increase in H1 2024, focuses on AI technology solutions.

From GlobeNewswire: 2024-09-24 08:30:00

Guardforce AI Co., Limited announced a 50% increase in gross profit in H1 2024 compared to H1 2023. The Company is focusing on AI technology foundation for travel and retail solutions. Gross profit margin improved to 18.4% in H1 2024. Adjusted net income was $0.1 million in H1 2024.

Guardforce AI expanded services to 25,000 retail stores, achieving positive adjusted net income and 50% gross profit increase. The company secured contracts to operate a Consolidate Cash Center in Thailand and expanded security alarm solutions in China. Development of GFAI Agents for AI-driven travel and purchase solutions is a key focus.

Furthermore, Guardforce AI diversified RaaS solutions by partnering with iApp Technology Co., launching “LinguaBot” chatbot capabilities enhancement. RoboTravel Agent for travel industry with smart ticketing system was rolled out. Guardforce AI continues to focus on consolidating its legacy business and strengthening client base in travel and retail sectors.

In H1 2024, net revenue decreased by $0.4 million, gross profit increased to $3.2 million. Selling, distribution, and administrative expenses decreased by 25.7%. Operating loss was $2.1 million in H1 2024. Adjusted net income was $0.1 million in H1 2024. Guardforce AI aims to provide tailored AI solutions for retail and travel industries.



Read more at GlobeNewswire:: Guardforce AI Reports Positive Adjusted Net Income for the