Autostore revenue up 95% in q3 to $84.7m

AutoStore earned $84.7 million in revenue in the third quarter of 2021. Its revenue is up 95% from $43.4 million in Q3 of 2020. The company has an order backlog that exceeds $340 million. This was AutoStore’s first financial earnings report since its IPO in October 2021.

During Q3, it added StrongPoint ASA and Fives group to its partner network, and officially opened its Innovation Hub. In April 2021, SoftBank bought 40% of AutoStore for $2.8 billion. Currently, AutoStore and its competitor, Ocado, are engaged in a patent infringement lawsuit.

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