Q1 2026 AutoStore Holdings Ltd Earnings Call Transcript
Key Points
- AutoStore Holdings Ltd (STU:1IG) reported a strong start to the year with revenue of $166 million and an order intake of $179 million.
- The company maintained a high gross margin of 73% and an adjusted EBITDA margin of 44%, showcasing strong profitability.
- AutoStore's cash flow conversion was 82%, highlighting the cash-generating nature of its business model.
- The company launched new AI capabilities and a software platform, enhancing its product offering and increasing its addressable market.
- AutoStore's strategic focus on building deeper relationships with customers resulted in 55% of revenue coming from existing customers and the addition of 25 new customers in Q1.
- Rising aluminum prices are expected to impact gross margins, although the company has diversified its supplier base to mitigate this.
- Geopolitical uncertainties, such as the conflict in the Middle East, pose potential risks to supply chain management and demand.
- The company faces ongoing input cost pressures, including energy costs, which could weigh on margins throughout the year.
- Despite strong performance, there is no immediate decision on capital allocation strategies like share buybacks, which some investors may have anticipated.
- The recurring revenue portion remains relatively small, with early to mid-teens percentage of total revenue, indicating room for growth in this area.
Welcome to AutoStore's Q1 2026 Update. My name is Hiva Flaskjer, and I'm the Investor Relations Officer at AutoStore. I will be moderating today's meeting. I'm joined here today by our CEO, Mats Hovland Vikse; and our CFO, Paul Harrison. We're standing ready to walk you through this quarter and answer your questions.
As usual, we would like to remind you of our disclaimer with regards to forward-looking statements. It can be read here at your own convenience.
Now moving on to our agenda. Mats will begin with an overview of our operational performance and our strategic progress. Paul will then present the financial results in detail. We'll follow with a live Q&A session, and you can submit your questions via the webcast player or ask your questions directly via Teams. The link and information are available on our website.
After this Q&A session, Mats will round off with some final remarks. And as a reminder, all financial figures are stated in US dollars. With that, let's get started. Over to you, Mats.
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