Universal Robots has released its Q3 results and has reported a record quarterly revenue of US$78 million, which is up 46 per cent on last year’s Q3 revenue, and up 31 per cent from its pre-pandemic Q3 revenue in 2019.
Since the development of its first commercially-viable collaborative robot in 2008, the Danish company has gone on to sell over 50,000 of its cobots for use across a range of industrial uses, primarily in the manufacturing sector.
Kim Povlsen, Universal Robots president, sees this quarter’s results as a strong indication of growth to come.
“We are seeing strong and growing demand for our robots as awareness of the technology spreads across the industry,” said Povlsen.
“Almost everywhere we operate we see the manufacturing sector facing considerable challenges – such as workforce shortages and supply chain disruption, which can be tackled using collaborative automation.
“Post-pandemic, we also see businesses more open to questioning the way they work, looking for opportunities to make their businesses more resilient and improve the working lives of staff.”
According to James McKew, Universal Robots’s regional director for the APAC region, believes that these positive results are reflected in Australia and New Zealand, where there has been a strong uptick in demand for collaborative automation.
“Our region has been resilient, and the Covid pandemic has created a drive towards further innovation,” McKew said.
“Collaborative automation has helped with social distancing, and ultimately keeping people employed and economies running. Automation is being used to solve challenges in our region.
“There is a greater need to combat supply chain challenges. Manufacturers are now encouraged to analyse their production processes and rethink their supply chain. Bringing production closer to home, or in many cases reshoring.”
Universal Robots has also developed a platform model for its technology, similar to those used by smart phone manufacturers.
Working with around 300 independent companies, it has spurred the development of a huge range of components and applications for use across industry, including in previously unautomated sectors like welding and sanding.
Confident of ongoing demand for its technology, Universal Robots is now on course for further growth.
“Despite the success we have already seen, the game-changing potential of collaborative automation means Universal Robots is on a trajectory of rapid growth,” Povlsen added.
“We are expanding our already large network of distributors and certified system integrators, and recruiting more staff across 22 locations. We currently have over 70 positions open, so it is a really exciting time for the company.”