“The dominant way people were talking about that happening was through fleet management. “We heard over and over again from big customers that they were struggling to implement complex workflows because complex workflows generally need AMRs to interact with each other,” Smith said. Smith said Teradyne decided about a year ago that the best way to differentiate its AMR business was to provide a broad product line under a single software control. By combining with AutoGuide, the portfolio will expand to include high-payload AMR tuggers and forklifts that will operate on the MiRFleet software. Prior to the merger, MiR offered a range of AMRs capable of carrying payloads and pallets up to 3,000 lb. The company’s headquarters will be in Odense, Denmark, where MiR has been based since 2013 when it was founded. Teradyne combined MiR and AutoGuide Mobile Robots at the end of Q3, with the integrated company officially being called Mobile Industrial Robots. Its welding channel grew over 80% in the first nine months of 2022 compared to the same time last year, and it expects to ship over 1,200 robots in that vertical. UR has also seen a lot of growth in welding. Teradyne expects the UR20 to start shipping in 2023 when it will start contributing to financial results. The company has seen higher demand than expected for its higher payload UR20 cobot released earlier this year. “Second, labor scarcity continues in our distribution channel, which we expect to reduce growth by about five points.”ĭespite slow growth, Teradyne is optimistic about UR’s future. Europe is our largest end market for automation, and this is a 10-point headwind to growth,” Smith said during the company’s Q3 earnings call. “First, slowing industrial activity, especially in Europe, where PMI has dropped below 50 in July and has remained in that contraction zone since. Greg Smith, named president of Teradyne on July 1, 2022, attributed the slower-than-expected growth to two factors. and 11% to China and the remainder to the rest of the world. Both companies saw a decrease in sales from last quarter when UR brought in $83 million and MiR brought in $17 million.įor the first 9 months of 2022, 41% of Teradyne’s industrial automation sales were to Europe, 29% to the U.S. UR sales decreased 5% during the quarter, while MiR sales rose 17% from the same quarter last year.
Energid’s revenue is included with UR’s.ĭuring Q3, UR brought in $73 million, and MiR brought in $16 million. The group consists of Energid, Mobile Industrial Robots (MiR), which just merged with AutoGuide Mobile Robots, and Universal Robots (UR).
The industrial automation group’s revenue is a decline from Q2 of this year when it brought in $101 million in revenue. The group brought in $89 million in revenue for Q3 2022. Teradyne saw a small backslide in revenue in its industrial automation group, a 2% decrease, in Q3 of 2022 compared to the same time period last year. Universal Robots, part of Teradyne’s industrial automation group, recently released its UR20 cobot.