Universal Robots reports strong end to 2023

Feb. 7, 2024
Demand was high for its heavy payload cobots, the UR20 and UR30.

Danish collaborative robot (cobot) manufacturer Universal Robots (UR) reported fourth-quarter 2023 revenue of $103 million, up 21 percent over Q4 2022. The quarter was the company’s largest revenue quarter to date. Annual revenue for 2023 was $304 million, down 7 percent from 2022.  

Company 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.”  

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. Together the UR20 and UR30 represented 30 percent of Q4 revenue.