Q2 2026 AutoStore Holdings Ltd Earnings Call Transcript
Key Points
- Record Q2 revenue of $192 million and record order intake of $218 million, with strong 43% year-over-year revenue growth.
- Continued strong profitability with gross margin of 72% and adjusted EBITDA margin of 45%, demonstrating business model scalability.
- Announced a global framework agreement with Amazon, a significant strategic milestone that could expand future revenue opportunities.
- Launched a $75 million share buyback program, reflecting confidence in the company's long-term prospects and cash generation.
- Strong order backlog of $596 million provides good visibility into future revenues, supporting the full-year revenue guidance of around $700 million.
- Full-year revenue guidance of around $700 million implies a slowdown in H2, with revenue expected to be roughly flat versus H1, despite strong order intake.
- Margins are expected to slightly moderate in the second half due to increased investments in product innovation, software, AI, and commercial capabilities.
- North America revenue was slightly down in Q2, despite strong demand in the region, indicating potential regional volatility.
- The Amazon agreement includes no purchasing commitments, and management declined to provide details, leaving uncertainty about its near-term financial impact.
- Gross margin slightly moderated from Q1, and while expected to remain strong, it faces potential pressure from input cost volatility, such as aluminum prices.
Good morning, and welcome to AutoStore's Q2 2026 update. My name is Silva Flocher, and I'm the Investor Relations Officer at AutoStore. I'll be moderating today's meeting, and I'm joined by our CEO, Mats Hovland Vikse; and our CFO, Paul Harrison. They're standing ready to walk you through this quarter and answer your questions.
As usual, we would like to remind you of our disclaimer in regards to forward-looking statements. It can be read here at your own convenience.
Moving on to our agenda, Mats will begin with an overview of our operational performance and strategic progress. Paul will then present the financial results in detail.
We will follow with a live Q&A session, and you can submit your written questions via the webcast player or ask your questions directly via Teams. The link and information are available on our website.
After the Q&A session, Mats will round off with some closing remarks. And as a reminder, all financial figures are stated in US dollars.
With that, let's get
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