Q1 2025 overview
· Order intake of USD 141.2 million, -1.8% QoQ, -22.8%YoY
· Revenue of USD 85.9 million, -47.9% QoQ, -37.8% YoY
· Gross margin of 74.0%, +1.0 pp. QoQ, 1.3 p.p. YoY
· Adj. EBITDA margin of 24.5% -22.2 p.p. QoQ, -21.1 p.p. YoY
(Nedre Vats, 24 April 2025): AutoStore Holdings Ltd. (AutoStore, OSE:AUTO), a
robot technology company that invented and continues to pioneer cube storage
automation, today released its quarterly update for the quarter ending 31 March
2025.
Amid ongoing geopolitical and macroeconomic volatility, AutoStore reported Q1
2025 revenue of USD 85.9 million and order intake of USD 141.2 million. As
indicated in the Q4 2024 update, the quarter reflects a softer start to the
year, influenced by the growing adoption of AutoStore-as-a-Service and broader
uncertainty impacting global commerce.
Several AutoStore-as-a-Service projects were successfully delivered in the
quarter. While these reduce near-term revenue, they build recurring revenue
streams and improve long-term visibility-aligning well with customer demand for
flexible, capex-lite solutions. Adjusted for these projects, revenue secured in
Q1 would total approximately USD 113 million.
Gross margin remained strong at 74.0%-marking the fifth consecutive quarter
above 70%. Adjusted EBITDA margin was 24.5%, impacted by the lower revenue base.
"We are responding to the current conditions by revitalizing our commercial
function with new leadership, accelerating growth through AutoStore-as-a
-Service, and implementing cost-efficiency measures expected to reduce
annualized operating expenditure by approximately USD 10 million", said CEO,
Mats Hovland Vikse. "These actions are aimed at maintaining high profitability,
strengthening our competitive position, and supporting long-term growth and
resilience."
Key financials
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First quarter
USD million 2025 2024 ? in %
Revenue 85.9 138.1 -37.8 %
Gross profit 63.6 100.5 -36.8 %
Gross margin 74.0 % 72.7 % 1.2 p.p.
EBIT 7.8 46.2 -83.1 %
Adjusted 21.1 63.2 -66.7 %
EBITDA[1]
Adjusted 24.5 % 45.7 % -21.2 p.p.
EBITDA
margin[1] (%)
Adjusted 11.8 56.3 -79.0 %
EBIT[1]
Adjusted EBIT 13.8 % 40.8 % -27.1 p.p.
margin[1] (%)
Cash flow 45.9 % 77.0 % -31.1 p.p.
conversion[1]
Order intake 141.2 183.0 -22.8 %
"Whilst uncertainties persist, we remain confident in the long-term potential of
warehouse automation. With AS/RS market penetration still at ~20%, the runway
for growth is significant - and we believe we are well-positioned to capture
it", said Vikse. "We will continue executing on our strategy, introducing new
solutions that address evolving customer needs. By leveraging our core strengths
- superior product value, a strong partner network, and relationships with
~1,150 customers and ~1,700 installations - we aim to gain market share by
consistently delivering the best solutions to our customers."
For further information, please contact:
Hiva Flåskjer, SVP Investor Relations, AutoStore AS Telephone: +47 958 66 790 I
hiva.flaskjer@autostoresystem.com
About AutoStore | www.autostoresystem.com
AutoStoreT, founded in 1996, is a technology company that develops order
-fulfillment solutions to help businesses achieve efficiency gains within the
storage and retrieval of goods. The company offers both hardware and software
capabilities and the AutoStore technology is interoperable with other third
-party solutions.
AutoStore is global, with ~1,700 Systems in 58 countries. All sales are
distributed, designed, installed, and serviced by a network of qualified system
integrators referred to as "partners".
AutoStore was founded in Nedre Vats, on the west coast of Norway. The company
has offices in Norway, the U.S., UK, Germany, France, Spain, Italy, Austria,
South Korea, Japan, Australia, and Singapore, as well as assembly facilities in
Poland and Thailand.