International

Universal Robots reports record Q1 revenue of USD 85M

Universal Robots, the Danish producer of collaborative robots (cobots), has reported record Q1 revenue of USD 85m, 30% up on its 2021 Q1 revenue.

Kim Nørgaard Andreasen, Chief Financial Officer, Universal Robots, said, ‘Reporting record Q1 revenue at a time when businesses across the world are facing disruption from the pandemic, supply chain challenges and conflict is a testament to the role collaborative automation can play in helping our customers stay competitive. In addition to record revenue, we have been pleased this quarter to welcome 80 new employees to our rapidly growing company.’

In January, Universal Robots reported 2021 revenue of over USD 311m, which it attributed to growing awareness of the contribution automation can make to productivity as well as to the role of cobots in supporting businesses facing workforce shortages.

Kim Nørgaard Andreasen further added, ‘When we consider the trends in both societies and businesses, everything points to a growing demand for automation. We are making plans to meet this demand, including starting work this month on new bigger headquarters in Denmark to help accommodate the company’s growth.’

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