Universal Robots Reports Record Annual Revenue of over $300M

Universal Robots reported record annual revenue of USD 311M, marking a 41% increase from 2020 and a 23% rise from 2019.

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01/27/2022 - 11:15 AM EST

ODENSE, Denmark--(BUSINESS WIRE)-- Universal Robots, the Danish producer of collaborative robots, has reported record annual revenue of USD 311M, 41% up on 2020 and 23% up on pre-pandemic results in 2019.

Universal Robots are manufactured at the company headquarters in Denmark where production teams broke internal records for number of cobots built in a single week. (Photo: Business Wire)

The company’s President, Kim Povlsen said:

“Universal Robots has had a great year. In a company like ours, which manufactures sophisticated hardware to high quality standards, this sort of growth requires tremendous commitment from all involved. Our production team in Denmark has broken internal records for the number of cobots built, producing 400 cobots in a single week in Q4. Our supply chain experts have worked hard to keep our business running smoothly despite global supply challenges.”

Quarter 4 revenue also broke records, up 22% on Q4 2020 and 28% up on Q4 2019. Kim Povlsen continued: “Our growth is driven by several long-term trends, including workforce shortages and growing awareness of the contribution automation can make to productivity. As well as reaching new consumers, we see repeat business from manufacturers extending their use of cobots after seeing the impact of the technology.”

The company expects strong growth to continue in 2022, as Kim Povlsen explained: “Demand for collaborative robots is set to grow and our unique ecosystem is growing with it. Working with more than 1,000 independent companies - including component, kit and application manufacturers, certified integrators and distributors - collaborative innovation is what sets our growth journey apart.”

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About Universal Robots

Universal Robots aims to empower change in the way work is done using its leading-edge robotics platform. Since introducing the world’s first commercially viable collaborative robot (cobot) in 2008, UR has developed a product portfolio including the UR3e, UR5e, UR10e, and UR16e, reflecting a range of reaches and payloads. Each model is supported by a wide selection of end-effectors, software, accessories and application kits in the UR+ ecosystem. This allows the cobots to be used across a wide range of industries and means that they can be redeployed across diverse tasks.

The company, which is part of Teradyne Inc., is headquartered in Odense, Denmark, and has offices in the USA, Germany, France, Spain, Italy, the Czech Republic, Romania, Russia, Turkey, China, India, Japan, South Korea, Singapore and Mexico.