ODENSE, Denmark, Feb. 2, 2024 /PRNewswire/ -- Universal Robots, the Danish collaborative robot (cobot) company, has reported Q4 revenue of USD 103 million, up 21% on Q4 2022. The quarter was the company's largest revenue quarter to date. 2023 annual revenue was USD 304 million, down 7% on 2022.

The company's President, Kim Povlsen, said: "2023 was characterized by a difficult economic and business environment for many of our core customers with global industrial activity slowing in the first half of the year. Nevertheless, we saw growth in our focus accounts and key segments, including palletizing, and in our strategically important OEM channel. We ended the year strong and enter 2024 with a great foundation for further growth."

Newest cobots helping to drive growth

In 2023 Universal Robots experienced strong demand for the first of its heavy payload cobots, the UR20, particularly for palletizing and welding applications. In November it launched the second model in the new series of cobots, the UR30, which will open new automation possibilities for its customers. Together the UR20 and UR30 represented 30% of Q4 revenue.

"We have increased momentum in the delivery of impactful innovation to the market," said Povlsen. "We are already shipping UR30s and have ramped up production in the fourth quarter to more than 1200 units to meet sustained demand for the UR20. Ultimately though, our success depends on our strength as a platform. It will be our continued software excellence and ease of use, on top of our hardware innovation, that creates value for our partners and end customers."

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About Universal Robots Universal Robots is a leading provider of collaborative robots (cobots) used across a wide range of industries and in education. Founded in 2005 and headquartered in Odense, Denmark, Universal Robots aims to create a world where people work with robots, not like robots. Its mission is simple: Automation for anyone. Anywhere. 

Since introducing the world's first commercially viable cobot in 2008, Universal Robots has developed a product portfolio reflecting a range of reaches and payloads and has sold over 75,000 cobots worldwide. An extensive ecosystem has grown around the company's cobot technology creating innovation, choice for customers and a wide range of components, kits and solutions to suit every application. 

For more information, please visit www.universal-robots.com. For media enquiries please contact PR@universal-robots.com or +45 28 95 69 93.