Increases backlog to $105 million; Announces new products and forges new partnerships to meet growing demand for AI-enabled intelligent enterprise robotic solutions that transform supply chain operations
BEDFORD, Mass., January 31, 2022 — Berkshire Grey, Inc. (Nasdaq: BGRY), a leader in AI-enabled robotic solutions that automate supply chain processes, announced today it has recently secured $14 million in new orders since November 2021. These new orders include $8 million of orders from new customers and $6 million of follow-on new orders from the Company’s anchor accounts. The additional orders reflect growing demand from market-leading retailers, eCommerce providers, package handling companies and third-party logistics companies that rely on Berkshire Grey’s AI-enabled robotic solutions to automate and transform their warehouse operations and meet soaring consumer expectations for on-demand order fulfillment.
The new orders reinforce the Company’s ongoing commercial momentum. In 2021 the Company:
“We continue to demonstrate strong commercial momentum with these new orders. At $200 million in total orders to date, we are proving the value we are delivering to our customers, enabling them to create long term competitive advantage in ecommerce, retail, and logistics, with our AI technology and robotic solutions,” said Tom Wagner, CEO of Berkshire Grey.
To support its continued growth, the Company recently added to its suite of patented, AI-enabled robotic solutions. Since November 2021, the Company has:
Berkshire Grey’s Intelligent Enterprise Robotics solutions enable enterprises to meet consumer expectations for on-demand delivery through intelligent robotic automation of eCommerce fulfillment, store replenishment and package handling. Combining proprietary AI, software and patented hardware, Berkshire Grey robotic systems include:
Berkshire Grey, Inc. (Nasdaq: BGRY) helps customers radically change the essential way they do business by delivering game-changing technology that combines AI and robotics to automate fulfillment, supply chain, and logistics operations. Berkshire Grey solutions are a fundamental engine of change that transform pick, pack, move, store, organize, and sort operations to deliver competitive advantage for enterprises serving today’s connected consumers. Berkshire Grey customers include Global 100 retailers and logistics service providers. More information is available at www.berkshiregrey.com.
This press release contains forward-looking statements regarding Berkshire Grey’s plans, beliefs, and expectations for continued growth in the demand for, and sales of, our Intelligent Enterprise Robotics solutions and orders and backlog that will lead to completed sales of our solutions. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Forward-looking statements are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Some risks include changes in the cost and availability of labor or other alternatives to our solutions, changes or cancellation of orders and backlog which may be permitted by our terms with our customers, changes in the growth of consumer expectations for on-demand order fulfillment, supply chain disruptions and changes in our costs that could adversely affect our ability to fulfill existing and additional orders and other risks described in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-Q filed November 12, 2021, and our future reports filed with the SEC, which could cause actual results to vary from expectations. Berkshire Grey assumes no obligation to update any forward-looking statements.
Method Communications for Berkshire Grey
VP, Investor Relations, Berkshire Grey