April 25, 2024: ODENSE, DENMARK: Universal Robots, the Danish collaborative robot (cobot) company, has reported Q1 revenue of USD 68m, down 6% compared to 2023 Q1.
President Kim Povlsen said “Revenue was down 6% versus the first quarter of 2023, but this reflects a difference in the timing of orders between 2023 and 2024, rather than a meaningful change in demand. We had an eventful quarter, which included the announcement in March by Teradyne of collaboration with NVIDIA on AI-based applications. We’ve also seen good results from our solution partners. We remain optimistic that we are on target to deliver growth in the remaining half of this year.”
In recent weeks Universal Robots has announced Standard Robot Command Interface (SRCI) integration with Siemens Programmable Logic Controllers (PLCs) and, separately, a collaboration with Siemens and Zivid creating a next-generation solution for intra-logistics fulfillment. This AI-based application joins other AI-based applications available through Universal Robots’ partner ecosystem. AI is expected to expand the range of automatable tasks driving growth in the future.
We believe that collaborative robotic technology can be used to benefit all aspects of task-based businesses – no matter what their size.
We believe that the latest collaborative robot technology should be available to all businesses. The nominal investment cost is quickly recovered as our robotic arms have an average payback period of just six months.