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Guardforce AI vs SU: revenue, profit, margins and growth compared

Guardforce AI brought in $36.3M of revenue in fiscal 2024, SU $24.7M in fiscal 2025. Revenue changed by +0.2% at Guardforce AI and +5.5% at SU on the year before, so SU grew faster. Guardforce AI kept -16.1% of its revenue as net profit, SU -9.6%. Free cash flow was -$3.6M at Guardforce AI and -$2.2M at SU.

Side by side, latest fiscal year

GFAISUGP
Fiscal year endedFY2024 (December 31, 2024)FY2025 (September 30, 2025)
Revenue$36.3M$24.7M
Revenue growth+0.2%+5.5%
Net income-$5.9M-$2.4M
Net margin-16.1%-9.6%
Free cash flow-$3.6M-$2.2M
Free cash flow margin-9.8%-8.9%
Earnings per share (diluted)-$0.53-$1.72
Cash$21.9M$3.3M
Debt$44.2Kn/a
Price to earningsn/an/a
Market value$10.4M$1.3M
Dividend yieldn/an/a
Rank by revenue in sector#789 of 955 · Consumer discretionary#813 of 955 · Consumer discretionary

Over the years

Revenue
GFAI FY2020: $38.6MGFAI FY2020: $37.6MGFAI FY2021: $34.7MGFAI FY2022: $34MGFAI FY2023: $36.3MGFAI FY2024: $36.3MSUGP FY2023: $20.9MSUGP FY2024: $23.4MSUGP FY2025: $24.7MFY20FY21FY22FY23FY24FY25
GFAI $36.3MSUGP $24.7M
Net income
GFAI FY2020: $54KGFAI FY2020: $3.1MGFAI FY2021: -$5.5MGFAI FY2022: -$18.6MGFAI FY2023: -$29.6MGFAI FY2024: -$5.9MSUGP FY2023: $1.2MSUGP FY2024: $1.4MSUGP FY2025: -$2.4MFY20FY21FY22FY23FY24FY25
GFAI -$5.9MSUGP -$2.4M
Net margin
GFAI FY2020: 0.1%GFAI FY2020: 8.2%GFAI FY2021: -15.8%GFAI FY2022: -54.7%GFAI FY2023: -81.5%GFAI FY2024: -16.1%SUGP FY2023: 5.9%SUGP FY2024: 5.8%SUGP FY2025: -9.6%FY20FY21FY22FY23FY24FY25
GFAI -16.1%SUGP -9.6%
Revenue growth
GFAI FY2020: -2.4%GFAI FY2021: -7.9%GFAI FY2022: -2.0%GFAI FY2023: +6.8%GFAI FY2024: +0.2%SUGP FY2024: +12.1%SUGP FY2025: +5.5%FY20FY21FY22FY23FY24FY25
GFAI +0.2%SUGP +5.5%
Free cash flow
GFAI FY2020: $4.6MGFAI FY2020: $3.5MGFAI FY2021: -$4.3MGFAI FY2022: -$21.8MGFAI FY2023: -$3.7MGFAI FY2024: -$3.6MSUGP FY2023: -$1.8MSUGP FY2024: $1.4MSUGP FY2025: -$2.2MFY20FY21FY22FY23FY24FY25
GFAI -$3.6MSUGP -$2.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Guardforce AI and SU

Which is bigger by revenue, Guardforce AI or SU?

Guardforce AI is bigger by revenue: $36.3M in fiscal 2024, against $24.7M for SU in fiscal 2025.

Which keeps more of its revenue as profit, Guardforce AI or SU?

Guardforce AI had a net margin of -16.1% in fiscal 2024; SU had -9.6% in fiscal 2025.

Which grew revenue faster, Guardforce AI or SU?

In their latest fiscal years revenue changed by +0.2% at Guardforce AI and +5.5% at SU.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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