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      Guardforce AI Co., Ltd. (GFAI) Stock Rocketing Higher in Premarket Following Robotics Deployment. - Stocks Telegraph

      By Maria Masood

      Published on

      February 22, 2022

      1:48 PM UTC

      Guardforce AI Co., Ltd. (GFAI) Stock Rocketing Higher in Premarket Following Robotics Deployment. - Stocks Telegraph

      Guardforce AI Co., Ltd. (GFAI) is a leader in integrated security solutions providing for protection and transportation of the valued assets of different organizations. The company is engaged in the development and introduction of novel technologies for improving protection and safety.

      The price of GFAI stock during the regular trading on February 18, 2022, was $0.37 with a decline of 30.4%. At last check in the premarket on February 22, 2022, the stock surged by 34.62%.

      GFAI: Events and Happenings

      On February 18, 2022, GFAI reported deploying approximately 1,400 robots in the Asia Pacific area. The robots were deployed in industries including hypermarkets, government buildings, hospitals, transportation stations, educational institutes, malls, and, restaurants.

      On January 20, 2022, GFAI updated about the closure of its ordinary shares and warrants private placement. This resulted in gross proceeds of up to $10.3 million. The company sold 7,919,997 ordinary shares and warrants for the acquisition of 11,879,993 ordinary shares. The warrants had an exercise price of $1.30 per share. The acquisition price for one ordinary share and one and one-half warrants was $1.30.

      On January 19, 2022, GFAI informed about hosting a virtual roadshow on January 25th, 2022. On January 14, 2022, GFAI announced its plan to expand the Robotics as a Service offering with the anticipated purchase of Shenzhen Keweien Robot Service Co. and Guangzhou Kewei Robot Technology Co. The acquisition will be completed by the end of February 2022.

      On January 11, 2022, GFAI issued initial results for the full year 2021 and preliminary expectations for the full year 2022. The company expects net revenue in the range of $33-$35 million for the full year 2021. It represents a decline of 9.3% to 14.5% against 2020. The company expects net revenue in the range of $55-$60 million for the full year 2022. It represents the growth of approximately 66% against 2021.

      GFAI: Key Financials

      On December 17, 2021, GFAI released its interim financial results for the six months ended June 30, 2021. Some of the significant highlights are discussed below.

      Revenue

      Revenue during the first six months of 2021 was $18.4 million compared to $18.7 million in the same period of 2020. The company observed a revenue decline of $0.32 million over the yearly period.

      EPS

      Basic and diluted net loss per share in the six months ended June 30, 2021, was $1.55 million or $0.09 as compared to $1.57 million or $0.09 in the same period of 2020. The company observed a slight decrease in net loss over the year.

      Conclusion

      GFAI stock down-performed by 90% in the past six months as a result of weakening economic conditions due to the pandemic. The recent premarket stock increase is the output of the company’s sound policies. As the company recently announced the deployment of its robots in the Asia Pacific region, the stocks started to gain momentum.

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