AutoStore: Q4 2022 financial results

Fourth quarter 2022 highlights (All comparisons to corresponding period in 2021) · Revenue of USD 148 million, up 58% from USD 93 million · Gross profit of USD 90 million, up from USD 62 million · Gross margin of 61%, down from 66% in Q4 2021, however 650 bps of sequential improvement from Q3 2022 · Adjusted EBITDA[1] of USD 59 million, up 44% from USD 41 million · Adjusted EBITDA[1] margin of 40%, down from 44% in Q4 2021, however 280 bps sequential improvement from Q3 2022 · Quarterly order intake[2] of USD 153 million brought the order backlog[3] to USD 476 million · Simplified free cash flow[1] was USD 45 million, up from USD 30 million, equating to a cash flow conversion rate of 77% (73%) Full year 2022 highlights · Revenue of USD 584 million, up 78% · Adjusted EBITDA1 of USD 238 million, up 50% Full year 2023 guidance · Revenue of USD 700 to 750 million [1] Please refer to APM section for further explanations and details on APM measures on page 28 of the third quarter 2022 financial report. [2] Order intake is defined as value of projects where a distribution partner has received a purchase order or verbal confirmation that a specific installation will be ordered. [3] Order backlog is defined as the total value of order intake not yet shipped and for which revenue has not yet been recognized. [4] Interest-bearing liabilities and lease liabilities less cash and cash equivalents.