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Side-by-side financial comparison of Guardforce AI Co., Ltd. (GFAI) and Americas Gold & Silver Corp (USAS). Click either name above to swap in a different company.

Americas Gold & Silver Corp is the larger business by last-quarter revenue ($19.1M vs $18.0M, roughly 1.1× Guardforce AI Co., Ltd.). Guardforce AI Co., Ltd. runs the higher net margin — -76.9% vs -82.3%, a 5.4% gap on every dollar of revenue. On growth, Guardforce AI Co., Ltd. posted the faster year-over-year revenue change (6.3% vs -28.0%).

Guardforce AI Co., Ltd. is a global provider of AI-integrated security solutions. Its core offerings include intelligent surveillance systems, AI-powered access control, autonomous security robots, and smart logistics monitoring services, serving enterprise, retail, financial and public sector clients across Asia, Europe and North America.

Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.

GFAI vs USAS — Head-to-Head

Bigger by revenue
USAS
USAS
1.1× larger
USAS
$19.1M
$18.0M
GFAI
Growing faster (revenue YoY)
GFAI
GFAI
+34.3% gap
GFAI
6.3%
-28.0%
USAS
Higher net margin
GFAI
GFAI
5.4% more per $
GFAI
-76.9%
-82.3%
USAS

Income Statement — Q2 FY2023 vs Q3 FY2025

Metric
GFAI
GFAI
USAS
USAS
Revenue
$18.0M
$19.1M
Net Profit
$-13.8M
$-15.7M
Gross Margin
12.0%
34.2%
Operating Margin
-66.1%
Net Margin
-76.9%
-82.3%
Revenue YoY
6.3%
-28.0%
Net Profit YoY
-118.5%
2.8%
EPS (diluted)
$-4.35

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
GFAI
GFAI
USAS
USAS
Q3 25
$19.1M
Q3 24
$26.5M
Q2 23
$18.0M
Q2 22
$16.9M
Net Profit
GFAI
GFAI
USAS
USAS
Q3 25
$-15.7M
Q3 24
$-16.2M
Q2 23
$-13.8M
Q2 22
$-6.3M
Gross Margin
GFAI
GFAI
USAS
USAS
Q3 25
34.2%
Q3 24
23.6%
Q2 23
12.0%
Q2 22
11.5%
Operating Margin
GFAI
GFAI
USAS
USAS
Q3 25
Q3 24
Q2 23
-66.1%
Q2 22
-32.8%
Net Margin
GFAI
GFAI
USAS
USAS
Q3 25
-82.3%
Q3 24
-60.9%
Q2 23
-76.9%
Q2 22
-37.4%
EPS (diluted)
GFAI
GFAI
USAS
USAS
Q3 25
Q3 24
Q2 23
$-4.35
Q2 22
$-7.16

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
GFAI
GFAI
USAS
USAS
Cash + ST InvestmentsLiquidity on hand
$24.7M
$39.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$25.0M
$50.2M
Total Assets
$64.1M
$234.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
GFAI
GFAI
USAS
USAS
Q3 25
$39.1M
Q3 24
Q2 23
$24.7M
Q2 22
$7.7M
Stockholders' Equity
GFAI
GFAI
USAS
USAS
Q3 25
$50.2M
Q3 24
$53.1M
Q2 23
$25.0M
Q2 22
$29.4M
Total Assets
GFAI
GFAI
USAS
USAS
Q3 25
$234.7M
Q3 24
Q2 23
$64.1M
Q2 22
$68.8M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
GFAI
GFAI
USAS
USAS
Operating Cash FlowLast quarter
$-1.0M
$-12.5M
Free Cash FlowOCF − Capex
$-41.3M
FCF MarginFCF / Revenue
-216.5%
Capex IntensityCapex / Revenue
150.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
GFAI
GFAI
USAS
USAS
Q3 25
$-12.5M
Q3 24
$2.4M
Q2 23
$-1.0M
Q2 22
$-13.8M
Free Cash Flow
GFAI
GFAI
USAS
USAS
Q3 25
$-41.3M
Q3 24
$-11.2M
Q2 23
Q2 22
FCF Margin
GFAI
GFAI
USAS
USAS
Q3 25
-216.5%
Q3 24
-42.2%
Q2 23
Q2 22
Capex Intensity
GFAI
GFAI
USAS
USAS
Q3 25
150.8%
Q3 24
51.2%
Q2 23
Q2 22

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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