Slides
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Q3 2025 Financial Results | November 6, 2025
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autostoresystem.com Certain statements included in this presentation includes forward- looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology, such as the terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will", "would" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements as a general matter are all statements other than statements as to historic facts or present facts and circumstances. The forward-looking statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Group's financial strength and position, backlog, pipeline, operating results, liquidity, prospects, growth, the implementation of strategic initiatives, as well as other statements relating to the Group's future business development and financial performance, and the industry in which the Group operates, such as but not limited to the Group's expansion in existing and entry into new markets in the future. Forward-looking statements are not guarantees of future performance and that the Group's actual financial position, operating results and liquidity, and the development of the industry and potential market in which the Group may operate in the future, may differ materially from those made in, or suggested by, the forward-looking statements. The Company cannot guarantee that the intentions, beliefs or current expectations upon which its forward-looking statements are based will occur. By their nature, forward-looking Statements involve, and are subject to, known and unknown risks, uncertainties and assumptions as they relate to events and depend on circumstances that may or may not occur in the future. Because of these known and unknown risks, uncertainties and assumptions, the outcome may differ materially from those set out in the forward-looking statements. 2 Disclaimer
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autostoresystem.com Agenda 3 01 02 03 Highlights of the quarter & business update Financials Q&A
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autostoresystem.com Financial overview • Revenue $139.0 million, +3.7% QoQ and -3.6% YoY • Order intake $152.4 million, stable QoQ and +5.9% YoY • Gross margin of 73.1%, +4.3 p.p. QoQ, -0.4 p.p. YoY; Q2 margin impacted by one-time inventory write-down of the B1 Robot business line • Adj. EBITDA1 margin 47.1%, stable QoQ and YoY 4 Q3 2025 overview Maintaining stable sequential trend 1.Adj. EBITDA and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2025 report Business overview • Introduced seven new products in October, including AutoCase and FlexBins • Established partnership with Veloq, an end-to-end grocery automation solution provider
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autostoresystem.com 1. As per end of Q3 2025, includes installed base and backlog 2. As per end of Q3 2025 5 The cubic storage pioneers Global scale and leading position in an underpenetrated warehouse automation market Scaled and global platform Customers and partners Superior financial profile 63 ~82,500 ~1,850 238 23 ~3,000 ~1,250 1-3 years $601m 72% 43% 70% Countries Robots1 Systems1 R&D FTE2 Partners Certified sales representatives Unique customers Customer payback period FY 2024 revenue Gross margin LTM Adj. EBITDA margin LTM FCF conversion4 LTM Broad exposure to all end markets3 ~50% 3. Historical average (2021 – Q3’25) 4. Defined as Adj. EBITDA less cash CAPEX divided by Adj. EBITDA Sales to existing customers
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autostoresystem.com 1. As per end of Q3 2025, includes installed base and backlog 6 Opportunities for expansion across a wide range of end-markets 2. End markets include aviation, aerospace and defense, building and construction, machinery and other industrials 3. End markets include toys and games, office supplies, home supplies, generalist retailer, books & media End-market # of systems1 2024 share of revenue Selected blue-chip customers Apparel / Sports accessories ~ 260 20% Industrials2 ~ 610 22% 3PL ~ 210 14% Other retail3 ~ 180 12% Grocery ~ 160 7% Automotive ~ 160 9% Healthcare ~ 170 8% Luxury & Personal Care ~ 40 4% Consumer electronics ~ 60 4%
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2025 Fall product announcement FlexBins Improve density and SKU coverage, unlock new workflows by utilizing different bin sizes in the AutoStore system AutoCase Automate the induction and extraction of cases into the AutoStore system MTS1: Frozen only Expand the grid into grocery and healthcare with frozen separate from the chilled module CubeDeploy Single software installer that enables installation/upgrade of Cube Control Software on AutoStore systems Floor flatness Removing floor flatness challenges from pain point to competitive advantage Fire standards Reducing discharge pressure on the sprinklers reduces cost without impacting fire safety Expanding our capabilities Making it easy to optimize and save CarouselAI enhancement Flexible outbound and performance enhancements 1. Multi-Temperature Solution
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autostoresystem.com Alza, founded in 1994 in Prague, is the Czech Republic’s largest online retailer, offering >700K products in electronics, home, toys, beauty, and sports Jan Linhart Head of Warehouse Innovation, Alza 8 Customer case: e-commerce high throughput “ We chose AutoStore because it offers the best combination of speed, accuracy, and density. In addition, the integration is easier compared to other automation technologies. After careful comparison, AutoStore proved to be the best fit for our operational needs. Installation 1 Bins 300K R5 Robots 580 Ports 118 ” Alza from initial site to extensions-and now scaling further Alza processes around 125,000 order lines per day, with volumes doubling during peak season, and has improved its order picking speed by 75% Launching 2nd site with 650 robots and 400K bins in 2026, leveraging integrated systems to drive automation and operational efficiency
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autostoresystem.com 9
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Q3: Financials
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autostoresystem.com 1. Adj. EBITDA margin and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2025 report 2. Defined as Adj. EBITDA less cash CAPEX divided by Adj. EBITDA 11 Key financial overview Continued positive sequential revenue trend and stable order intake. Solid margins supported by cost initiatives and operational efficiency Revenue +4% QoQ and -4% YoY $139m Gross margin +4 p.p. QoQ, due to B1 write- down in Q2. Stable development YoY 73% Adj. EBITDA margin1 stable QoQ and YoY 47% Cash conversion2 76% Order intake stable QoQ and +6% YoY $152m Order backlog +3% QoQ and +13% YoY $543m
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autostoresystem.com Order intake ($ million) 12 Solid order intake and healthy backlog Order backlog ($ million) 144 144 141 150 152 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 +1% 479 458 513 529 543 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 +3%
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autostoresystem.com Revenue 13 Revenue by region EMEA NAM APAC($ million) ($ million) Sequential revenue stability 144 165 86 134 139 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 4% 29 57 30 29 35 106 97 46 98 95 9 Q3’24 11 Q4’24 10 Q1’25 7 Q2’25 144 165 86 134 Q3’25 139 9
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autostoresystem.com Gross marginSustainable gross margin Gross profit ($ million) 14 Delivering consistent profitability through operational discipline Adj. EBITDA margin1 Adj. EBITDA ($ million) 47% 47% 25% 48% 47% Gross margin Adj. EBITDA margin 106 120 64 92 102 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 74% 73% 74% 69% 73% 68 77 21 64 66 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Solid gross margin supported by consistent operational efficiency. Recovery from Q2, which was impacted by one-time write- down related to B1 Robot Adj. EBITDA margin remains strong, underscoring our continued organizational discipline Adj. EBITDA margin1 1. Adj. EBITDA margin and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2025 report
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autostoresystem.com Cash flow bridge from Q2’25 to Q3’25 ($ million) 15 Continued strong cash position Observations Operating cash flow came in at $73.4 million compared to $25.9 million in Q3 2024, which reflects our highly cash generative business model and favorable working capital timing Total liquidity stands at $498.0 million, including $348.0 million in cash and $150.0 million in RCF headroom. A new $500.0 million facility will be drawn by year-end, with surplus cash primarily used to reduce debt while maintaining strong financial headroom 299.7 347.9 64.7 Cash 30 June 25 EBITDA contribution (incl. taxes paid) 8.7 Working capital 13.8 CF from investing activities 9.5 CF from financing activities 1.9 Currency effects Cash 30 Sept 25
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Q&A
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autostoresystem.com Key takeaways 17 01 Massive under-penetrated market driven by megatrends 03 Multiple ways to win 05 Positioned for long-term value creation 04 Innovation remains core 02 Adapting to uncertainty by executing on our growth strategy
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Appendix
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autostoresystem.com Hi again, is it ok now? I haven't heard anything more from Navan regarding this. 19 Presentation of Adj. EBITDA1 breakdown 1. Adj. EBITDA and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2025 report 2. Reference is made to the reconciliation of the adjustments in connection with the transformation project commenced in the period in the Q2 2025 report Third quarter YTD USD million 2025 2024 2025 2024 Profit/loss for the period 32.2 31.1 40.9 96.4 Income tax 9.2 6.9 11.5 25.2 Net financial items 7.2 15.9 31.9 41.1 EBIT 48.6 54.0 84.3 162.8 Depreciation 5.0 4.6 13.9 11.6 Amortization of intangible assets 11.1 10.2 31.1 37.3 Impairment 0.5 - 0.5 - EBITDA¹ 65.3 68.8 129.8 211.7 Ocado Group litigation costs - - - 0.4 Option costs 0.2 -1.3 1.5 -6.2 Transformation costs2 - - 19.0 - Total adjustments 0.2 -1.3 20.5 -5.8 Adj.EBITDA¹ 65.5 67.5 150.3 205.9 Total revenue and other operating income 139.0 144.2 358.9 436.5 EBITDA margin¹ 47.0% 47.7% 36.2% 48.5% Adj.EBITDA margin¹ 47.1% 46.8% 41.9% 47.2%