AutoStore raises 2026 revenue forecast after third-quarter sales jump

Warehouse automation firm AutoStore raised its 2026 revenue forecast to about $750 million on Thursday after third-quarter sales jumped 38%, but profit margins narrowed and orders grew far more slowly than sales.

The new forecast compares with about $700 million given at the second quarter. Chief Executive Mats Hovland Vikse said a healthy backlog and more visibility into the rest of the year supported the increase.

Third-quarter revenue was $192.1 million, versus $139.0 million a year earlier. Vikse attributed the growth to "strong customer demand and execution."

Order intake rose 16.5% to $177.6 million from $152.4 million a year earlier. The company said that was its highest third-quarter order intake ever.

Adjusted EBITDA rose 24.2% to $81.3 million from $65.5 million, but the margin fell to 42.3% from 47.1% a year earlier.

Gross margin was 71.3%, versus 73.1% a year earlier, while gross profit rose 34.8% to $137.1 million.

Adjusted EBIT rose 24.6% to $67.1 million from $53.8 million, with the margin at 34.9% versus 38.7% a year earlier.

EBIT rose 11.2% to $54.1 million from $48.6 million.

Cash flow conversion improved to 78.0% from 75.9% a year earlier, which the company said underscored its "highly cash generative" business model.

AutoStore also announced the acquisition of Logiqs, which Vikse said will "over time" bring roaming pallet automated storage and retrieval capabilities to its platform.