AutoStore Holdings Ltd

AUTO

Equity

ISIN BMG0670A1099 / Valor 114227315

Oslo Stock Exchange (2026-01-29)

NOK 11.52-2.70%

AutoStore Holdings Ltd
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About company

AutoStore Holdings Ltd, established in 1996 in Nedre Vats, Norway, is a leading technology company specializing in the development of automated storage and retrieval systems for optimizing the efficiency of order fulfillment processes. The company's innovative solutions encompass both hardware and software, designed to be interoperable with third-party systems, thereby offering flexible integration options for a wide range of business needs. With a global presence, AutoStore operates in over 50 countries, supported by a network of qualified system integrators known as partners. The company's reach extends through offices located in key markets including the United States, United Kingdom, Germany, France, and several others, alongside production facilities in Poland. AutoStore's technology is utilized in more than 1,250 systems worldwide, facilitated by a fleet of over 58,500 robots. The company's growth and expansion have attracted significant investment, notably from SoftBank, Thomas H. Lee Partners, L.P., and EQT Private Equity. With a strategic focus on continuing its global expansion, AutoStore is positioned to further its influence in the automation and logistics sectors under the leadership of its recently appointed CEO, Mr. Hovland Vikse, and interim Chief Revenue Officer, Mr. Dickson, both of whom bring extensive experience in automation and commercial strategy.

Summarized from source with an LLMView SourceSector: Industrials

Revenue

Q3 2025 revenue: USD 139.0m (+3.7% QoQ; -3.6% YoY). Year-to-date revenue was USD 358.9m (-17.8% YoY), reflecting slower project recognition versus 2024.

Order intake and backlog

Q3 order intake: USD 152.4m (stable QoQ; +5.9% YoY). Backlog increased to USD 542.5m. Management notes 55% of Q3 intake came from existing customers and ~50 new end customers were added.

Margins & profitability

Gross margin: 73.1% (up ~4.3 p.p. QoQ; Q2 was impacted by an USD 8.5m one‑time B1 Robot write‑down). EBIT: USD 48.6m (-9.8% YoY). Adjusted EBIT: USD 53.8m. Adjusted EBITDA: USD 65.5m with a 47.1% margin (essentially flat QoQ).

Cash, liquidity & balance sheet

Cash at period end: USD 347.9m. Total liquidity reported: USD 497.9m (includes USD 150.0m headroom under revolving credit facility). Equity rose to USD 1,503.9m; total assets USD 2,233.7m.

Cash flow

Operating cash flow: USD 73.4m (Q3), driven by strong collections and completion of the Ocado settlement. Net cash outflow from investing: USD 13.8m (capex and development). Financing outflows were modest (interest and lease payments).

Refinancing & debt position

AutoStore has secured commitments for new bank facilities totaling USD 500m to be completed and drawn before year‑end; management expects surplus cash to largely repay debt while retaining prudent headroom on the new RCF.

Products & partnerships

Launched seven products in the Fall 2025 release, highlighted by AutoCase (unifies case and piece handling) and FlexBins (mixed bin sizes, up to +15% storage density). Formalized a global partnership with grocery automation provider Veloq.

Adjustments and one‑offs

Adjusted metrics exclude items such as PPA amortization, option costs, transformation project costs (including inventory write‑downs for the B1 Robot), and prior Ocado litigation costs (settled; no remaining obligations).

Outlook & risks

Management sees resilient underlying demand and a strong pipeline but notes continued caution on capex amid global trade uncertainty and potential policy changes (e.g., U.S. tariffs). Long‑term TAM remains attractive (AS/RS penetration ~20%), and AutoStore is focused on commercial execution and installed‑base expansion.

Summarized from source with an LLMView Source

Key figures

10.6%1Y

-49.4%3Y

%5Y

Performance

70.6%1Y

63.4%3Y

67.8%5Y

Volatility