Norway · Delayed Price · Currency is NOK AutoStore Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong revenue and order growth, high margins, and robust cash flow, driven by innovation in AI and software, deeper customer relationships, and resilient supply chains. Input cost pressures are being managed, and the outlook remains positive with a record order backlog.
Fiscal Year 2025
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Q4 2025 saw strong sequential and year-over-year growth, with revenues up 29% and order intake up 35%. Gross margin reached 74% and adjusted EBITDA margin 43%, while the company continued to invest in growth and innovation, entering 2026 in a stronger position.
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Q3 2025 delivered stable sequential growth, with revenue at $139M and strong gross margins. Europe remained the largest market, while North America drove growth. Seven new products were launched, and a key partnership with Veloq was formed to expand in grocery automation.
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Q2 saw a strong sequential revenue rebound and stable order intake, with Europe leading growth and North America showing early positive signs. Gross margin was 75% excluding a B1 robot write-down, and a new $500M bank facility was secured to enhance financial flexibility.
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Q1 revenue was $86M with strong gross margins, but macro uncertainty and tariffs led to customer hesitation and delayed backlog conversion. The as-a-Service model is gaining traction, driving recurring revenue, while cost-saving measures are underway.
Fiscal Year 2024
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Q4 2024 revenue reached $165M, with full-year revenue at $601M, slightly above guidance. Margins remained strong, and the backlog grew 2.4% year-over-year. Despite market contraction and FX volatility, the company gained market share and is positioned for long-term growth.
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Q3 2024 revenue and margins exceeded guidance despite a challenging market, with strong performance in EMEA and continued investment in growth and innovation. The company maintains its 2024 outlook and sees long-term opportunities in warehouse automation.
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Warehouse automation demand is expected to rebound after a recent downturn, with the company maintaining market leadership in cubic storage and investing in innovation, capacity, and software. High margins, a robust pipeline, and scalable operations position it for strong medium-term growth.
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Q2 revenue grew 12% sequentially but fell 12% year-over-year, with gross margin at 73% and adjusted EBITDA margin at 49%. Order intake rose 3% year-over-year, backlog conversion is slower, and H2 growth is expected to be Q4-weighted. Cash position remains strong at $269 million.