Ameriguard Security Services, Inc.
AMERIGUARD SECURITY SERVICES, INC. (AGSS) is a U.S. services company that operates two contract-driven businesses: physical security guarding (through AmeriGuard Security Services, Inc.) and human transportation services as a federal contractor (through TransportUS, Inc.). The company became the owner of AmeriGuard via a reverse merger executed in December 2022 and later expanded into transportation by acquiring TransportUS in October 2023. Its revenue model is primarily recurring service revenue from staffed contracts, with performance tied to winning bids, contract renewals, and controlling direct labor and operating costs. Management positions the company to grow through a mix of contract wins and acquisitions in adjacent security and logistics-related markets.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueStaffed physical security services including onsite guards and patrol operations for client facilities.
Transportation services delivered under U.S. government contracts, including Veterans Administration-related work in California.
Products
Reported · share of revenue- Services99.2 %
- Other Operational Income0.8 %
Source: 10-K FY2024, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
AGSS sells primarily to organizations that outsource labor-intensive services under multi-month or multi-year contracts, with a meaningful emphasis on government contracting. TransportUS’ growth is tied to federal agency awards, including Veterans Administration contracts that began in October 2024 and drove reported revenue increases. AmeriGuard’s customers are typically commercial businesses and public-sector entities that need ongoing onsite security coverage and compliance with licensing requirements. Buying decisions are driven by price/quality trade-offs, ability to staff reliably, and contract performance history, which influences rebids and renewals.
Buys TransportUS human transportation services via competitive bids; values compliance, performance, and cost control.
Buys staffed guarding and patrol coverage to protect facilities and manage security risk without building in-house teams.
Buys guard/patrol services where licensing, reliability, and contract compliance are required for public facilities.
Strategy
Management describes a two-pronged growth plan: organic growth by bidding and winning additional contracts and inorganic growth through mergers and acquisitions. The company highlights an active bid pipeline and expects contract starts from late 2024 to contribute a fuller annual impact in 2025. AGSS also frames access to capital markets as an enabler for acquisitions across related areas such as security, transportation, cyber security, surveillance, and other adjacent categories. In parallel, management discusses introducing AI-driven digital security and robotics to reduce labor intensity and differentiate service delivery over time.
Service revenue depends on winning/renewing contracts and scaling staffed delivery.
Unexpected labor, vehicle, and subcontractor costs can compress gross profit on fixed/competitive bids.
Consolidation can add contract portfolios quickly and leverage shared back office and compliance capabilities.
Automation is positioned as a way to reduce labor costs and offer scalable security solutions as customer demands evolve.
Geography
The company’s disclosed operating footprint is U.S.-centric, with TransportUS specifically described as providing services in California under federal contracts. The filings also reference an operations team on the U.S. east coast managing IT and federal contracts, indicating a multi-location operating model even if service delivery is concentrated by contract location. Because contracts are location-specific, staffing availability and local wage/vehicle cost conditions can materially affect margins by market. No authoritative revenue-by-geography table was provided in the excerpts, so geographic revenue shares are not disclosed here.
Risks
AGSS’ results are sensitive to contract wins, renewals, and the profitability of individual awards, as shown by margin pressure when direct labor, vehicle, and subcontractor costs exceeded expectations on new contracts. As a government contractor, the company faces procurement, compliance, and audit risk, and contract timing can create quarter-to-quarter volatility. The filings also reference litigation and governance-related allegations, which can create distraction, costs, and reputational risk—particularly important in regulated security services where licensing and trust matter. More broadly, the guard and transportation services markets carry labor availability and wage inflation risk, plus customer concentration risk when a small number of contracts represent a large share of revenue.
New contracts increased labor, vehicle, and subcontractor expenses beyond expectations, reducing gross profit.
Exposure: TransportUS contract delivery costs
Federal awards can be delayed, protested, recompeted, or terminated; compliance failures can lead to penalties or loss of eligibility.
Exposure: Federal contracting (including VA-related work)
Counterclaims and allegations (including disclosure and licensing-related issues) can increase legal costs and impair trust with customers and regulators.
Accounting
Judgemental itemsContract-based service delivery requires consistent measurement of earned revenue and any variable consideration.
Impact: Affects period revenue and comparability across quarters
Labor, vehicle, and subcontractor costs can be underestimated at bid stage and must be captured accurately as incurred.
Impact: Drives gross profit volatility and contract-level margin visibility
Reverse merger and acquisitions require purchase accounting and ongoing impairment assessment tied to forecast performance.
Impact: Can create non-cash charges and affect asset base
Refinancing and credit facilities can include fees and terms that change interest expense recognition over time.
Impact: Affects interest expense and cash flow presentation
Similar listed companies
Publicly listed companies with a comparable business focus.
Cloudastructure, Inc
CSAI · Services-Computer Programming, Data Processing, Etc.
American Rebel Holdings Inc
AREBW · Miscellaneous Fabricated Metal Products
Momentus Inc.
MNTS · Guided Missiles & Space Vehicles & Parts
Aramark
ARMK · Retail-Eating Places
Aramark is a contract services company that designs, staffs, and operates food, hospitality, procurement, and facilities programs for institutions and venues.
Lifeward Ltd.
LFWD · Orthopedic, Prosthetic & Surgical Appliances & Supplies
Artificial Intelligence Technology Solutions Inc.
AITX · Services-Prepackaged Software
Last updated: 24/09/2026