Teradyne’s robotics group brings in $404M in 2022

-
A UR20 collaborative robot lifting a box onto a partially built pallet.

Universal Robots reported its highest annual revenue to date in 2022. | Source: Universal Robots

Teradyne announced it brought in $3.15 billion in revenue in FY 2022. This marks the company’s second-biggest year in history, following 2021. Its Industrial Automation Group, which includes Universal Robots (UR), Mobile Industrial Robots (MiR), and Energid, brought in $404 million. 

This is a $28 million increase from the $376 million it brought in during 2021. In 2022, UR brought in $326 million, while MiR brought in $77 million. 

“We delivered better than expected results in the fourth quarter on higher revenue and gross margins and lower expenses than planned,” Teradyne CEO Mark Jagiela said in a release. “Increased shipments of our Eagle products serving the automotive and industrial chip markets combined with stronger demand for UR cobots in the quarter drove the improved results.” 

UR brought in $85 million in revenue in Q4 2022, slightly down from the $97 million it brought in during Q4 of 2021, but still resulting in a record-high year for the company for the second year in a row. UR saw a 5% increase in annual revenue from 2021 and a 12% growth on a constant currency basis. 

“We are proud to have continued to grow our business despite facing a difficult macroeconomic environment in 2022,” Kim Andreasen, UR’s chief financial officer, said in a release. “We focused on those things we are able to control, and we overcame supply chain challenges to report our highest annual revenue to date.”

Teradyne expects its Industrial Automation Group to continue to grow strongly in 2023. In 2022, the company began growth initiatives, including a channel transformation at UR, to gain traction. These growth initiatives also included supplementing its traditional distributor network with focused OEM channels.

The Industrial Automation Group will also likely see growth because of its recent product releases, like the higher-payload UR20, which expands its service market. The UR20 will ramp up production in 2023, particularly in the second half of the year. 

“We invested last year in building world-class expertise in welding, palletizing and machine tending,” Kim Povlsen, UR’s president, said in a release. “We have also been working with our ecosystem partners to make automation easier for our customers than ever before. 2022 has been an important year for the company overall. We started construction on new headquarters, reached our 1000 employee milestone and launched a ground-breaking new cobot.”

MiR merged with AutoGuide Mobile Robots, another Teradyne subsidiary at the end of Q3 2022, with the integrated company officially being called Mobile Industrial Robots.

Prior to the merger, MiR offered a range of AMRs capable of carrying payloads and pallets up to 3,000 lb. (1350 kg). By combining with AutoGuide, the portfolio will expand to include high-payload AMR tuggers and forklifts operating on the MiRFleet software.

Teradyne expects the Industrial Automation Group to grow more than 20% in 2023, with much of that growth coming in the second half of the year.

The company’s market penetration for collaborative robots, including autonomous mobile robots (AMRs), is under 5%, leaving Teradyne with a lot of room for long-term growth. Teradyne is expecting its Industrial Automation Group to eventually make up 20% of the company’s entire sales. 

The post Teradyne’s robotics group brings in $404M in 2022 appeared first on The Robot Report.



from The Robot Report - Robotics News, Analysis & Research https://ift.tt/ENu9TRK
via artificialconference

Comments

Post a Comment

Popular posts from this blog

Valiant TMS and Realtime Robotics partner to cut programming, cycle times

-
Image
Valiant TMS is integrating robot motion optimization as a service. Source: Realtime Robotics Realtime Robotics today announced that Valiant TMS will integrate its Optimization-as-a-Service offering with customers’ manufacturing operations. The companies said the combination of Realtime’s proprietary software and engineering expertise with Valiant TMS’s manufacturing industry experience will improve the efficiency and productivity of automated operations. With Optimization-as-a-Service, companies can identify and eliminate production bottlenecks, significantly reducing cycle time and programming time, said Realtime Robotics. “Manufacturers are always looking for ways to improve their production processes, but few have the time or resources to spend on such a lengthy, involved task,” said Peter Howard, CEO of Realtime Robotics, in a release . “We’re thrilled that our optimization solution has struck a chord with so many, automating the task of generating and testing potential layou...
Read more

Ocado wins UK patent lawsuit over Autostore

-
Image
On the left, Autostore’s ASRS, and on the right, Ocado’s ASRS. | Source: Autostore, Ocado Yesterday, the UK High Court ruled that Autostore’s patents, which have been the subject of a patent infringement case against Ocado , were invalid, and that Ocado did not infringe upon them. Both Autostore and Ocado operate automated storage and retrieval systems (ASRS) that operate on similar principles. Autostore filed the lawsuit in October 2020, when it asserted that Ocado infringed upon six of its patents. The European Patent Office invalidated two of these patents before judgment was made on the case, and two other patents were withdrawn by Autostore before the hearing started.  Judge Hacon invalidated the remaining two patents because AutoStore had disclosed its technology publically in a business deal with the Central Bank of Russia before the company filed its patents. Halcon ruled that even if the patents were valid, the Ocado Smart Platform (OSP) did not infringe on the...
Read more

Update on AgTech automation at CNHI

-
Image
The Robot Report Podcast · Update on AgTech automation at CNHI The Robot Report Podcast · 2023 year in review: GenAI, humanoids dominate robotics industry   In Episode 138 of The Robot Report Podcast, co-hosts Mike Oitzman and Eugene Demaitre catch up with Marc Kermisch, global chief digital and information officer at CNH Industrial, or CNHI. Kermisch takes us through the latest developments at CNHI in agriculture autonomy and digitization, explaining how robots and data can help farmers and growers improve yields and efficiency. We also recap the latest robotics news and walk through an update from robotics and automation companies that attended this month’s 2024 CES show. News of the week Locus Robotics layoffs The mobile robot maker last week confirmed that it had a “small, targeted RIF,” or reduction in force. North American robot orders dropped last year, according to the Association for Advancing Automation ( A3 ). Warehouse construction also declined by 2...
Read more