April 27, 2022
Denmark-based Universal Robots has reported record Q1 revenue of $85 million, up 30% from its Q1 2021 revenue.
The news comes on the heels of its report of 2021 revenue, which surpassed $311 million. In January, the company attributed the revenue growth to growing awareness of the contribution that automation can make to productivity, as well as the role of collaborative robots (aka cobots) in supporting businesses facing workforce shortages.
“Reporting record Q1 revenue at a time when businesses across the world are facing disruption from the pandemic, supply chain challenges and conflict is a testament to the roll collaborative automation can play in helping our customers stay competitive,” said Kim Nørgaard Andreasen, chief financial officer at Universal Robots. “In addition to record revenue, we have been pleased this quarter to welcome 80 new employees to our rapidly growing company.”
To help meet demand for cobots, Universal said it is starting work this month on creating a bigger headquarters in Denmark.
“When we consider the trends in both societies and businesses, everything points to a growing demand for automation,” Andreasen said.
The company, a division of Teradyne, Inc., has installed more than 50,000 cobots worldwide, and includes offices in the U.S., Germany, and other areas around the world. The company’s cobots include a range of reaches and payloads, and also is supported by a wide range of end effectors, software, accessories and applications through its UR+ ecosystem.
The company also recently held a virtual online Cobot Expo that focused on how collaborative robots can assist companies with assembly, machine tending, metal fabrication and welding, material removal and surface finishing, packaging, palletizing, and quality inspection tasks. The online expo sessions are now available on demand here.