Berkshire Grey, Inc.

Report azionario NasdaqGS:BGRY

Capitalizzazione di mercato: US$340.7m

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This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Berkshire Grey Performance degli utili passati

Criteri Il passato verificati 0/6

Gli utili di Berkshire Grey sono diminuiti a un tasso medio annuo di -19.6%, mentre il settore Machinery ha visto gli utili crescere a un tasso medio annuo di 8%. I ricavi sono cresciuti crescere a un tasso medio annuo di 27.3%.

Informazioni chiave

-19.64%

Tasso di crescita degli utili

136.22%

Tasso di crescita dell'EPS

Machinery Crescita del settore8.77%
Tasso di crescita dei ricavi27.28%
Rendimento del capitale proprio-289.08%
Margine netto-173.57%
Ultimo aggiornamento sugli utili31 Mar 2023

Aggiornamenti sulle prestazioni recenti

Recent updates

Articolo di analisi • Mar 28

Here's Why We're Watching Berkshire Grey's (NASDAQ:BGRY) Cash Burn Situation

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Articolo di analisi • Nov 17

Berkshire Grey, Inc. (NASDAQ:BGRY) Just Reported And Analysts Have Been Cutting Their Estimates

It's been a good week for Berkshire Grey, Inc. ( NASDAQ:BGRY ) shareholders, because the company has just released its...
Seeking Alpha • Oct 05

Berkshire Grey enters $75M equity purchase agreement with Lincoln Park Capital

Berkshire Grey (NASDAQ:BGRY) has entered into a purchase agreement and registration rights agreement for up to $75M with Lincoln Park Capital Fund. Under the terms, the Co. has the right to sell up to $75M of its shares of common stock to Lincoln Park over a 36-month period. Any common stock that is sold to Lincoln Park will occur at a purchase price that is determined by prevailing market prices at the time of each sale with no upper limits to the price Lincoln Park may pay to purchase the common stock. "We are pleased to enter into this agreement with Lincoln Park and expect to use the proceeds, as available, for general corporate purposes, which may include investments and strategic transactions.” said Tom Wagner, CEO of Berkshire Grey.
Seeking Alpha • Sep 10

Berkshire Grey: Leading AI-Enabled Robotics Automation Player For E-Commerce

Summary The case for robotic automation in e-commerce is growing due to labour shortages world-wide, increasing customer demands for next day deliveries, and competitive pressures. Berkshire Grey operates in a large market opportunity with $280 billion in total addressable market, growing at 12% CAGR till 2030. The company has 3 strategic accounts with Fortune 100 companies that enables it to expand relationships with these huge customers and leverage on their growing capital budgets. In the second quarter, gross margins showed sequential improvements due to management's efforts to reduce costs to be better aligned to its long term operating model. My target price of $3.90 implies an 86% upside from current levels. As we think about the rise in e-commerce, I have been interested to find companies that develop technologies to improve the way businesses operate their e-commerce businesses. Berkshire Grey (BGRY) is one such company. Investment thesis I think that Berkshire Grey has a long runway to go given their leadership position in providing supply chains with robotic solutions enabled by artificial intelligence. The investment case for Berkshire Grey is as follows: Compelling industry tailwinds for automation due to increasing demands by customers for faster delivery times, increasing competitive pressures in the e-commerce and retail industry, and increasing shortage of labour needed for a labour intensive, manual processes utilised in e-commerce today. Large market opportunity of $280 billion for Berkshire Grey across verticals and this is growing at a decent CAGR of 12% from now till 2030. Berkshire Grey has obtained business from top strategic accounts and the relationships with these accounts continue to grow and will lead the way for future growth for the company in the years to come. The company is executing well based on its long term operating model, with goals to achieve revenues of $1 billion, gross margins of 50% and adjusted EBITDA margins of 25% in the long run. Overview Berkshire Grey describes itself as a company that is leading in robotic solutions that are enabled by artificial intelligence and these solutions ultimately help to value add by automating the supply chain processes of today. As can be seen below, the company's products help to replace the manual labour and relatively inefficient picking, sorting and moving processes in e-commerce fulfilment by automating processes and making this more seamless and automatic using the power of artificial intelligence. Berkshire Grey automation suite (Berkshire Grey slides) Furthermore, when looking at the offerings Berkshire Grey is able to provide its customers, it ranges across the entire suite of solutions needed for e-commerce applications. Not only does it have a range of hardware that is patented and differentiated from competitors, it also has a proprietary artificial intelligence software platform that adds further value for customers. The result is that Berkshire Grey is able to provide solutions in modules that customers are able to pick and select based on their customised needs. I was able to find several evidences of third part independent appraisals of Berkshire Grey's technology and this was evident as Frost & Sullivan named the company the enabling technology leader for intelligent robotic automation in 2022. Furthermore, Berkshire Grey also won the SupplyTech Innovation of the Year Award earlier in the year as well. These awards and recognition are the early indications that Berkshire Grey's innovations are bringing value add in terms of performance, impact and functionality, for example, to its customers. I think that as more companies are aware of these innovative products, we will start to see the company's order book grow significantly. Proprietary AI software and patented hardware (Berkshire Grey's 2Q22 slides) The case for e-commerce automation While the idea of e-commerce has been around for some time, the way e-commerce is carried out has been largely manual and requires large amount of labour. For example, in the height of the covid-19 pandemic, there was a shortage of manpower for e-commerce. Even after the pandemic, Amazon (AMZN) reportedly stated in an internal memo that they expect to run out of staff in as soon as 2 years. As such, if the largest e-commerce company in the world is experiencing a shortage of manpower needed to sustain its e-commerce business, many of the smaller e-commerce companies and retailers could see a larger challenge in having sufficient labour for normal e-commerce operations. As can be seen below, apart from the scarce labour resources available for the labour intensive e-commerce processes of today, there are also other pressures that work in favour of e-commerce automation. First, consumers are increasingly demanding that they receive their deliveries as soon as within the day or in the next day or two. With 93% of consumers expecting a buy now and get now scenario, companies are scrambling to find ways to do so and one such way is through robotic automation of their existing processes to streamline and speed up these processes to meet the demands of consumers. Second, while I have mentioned Amazon above and although it may be the top player in the market with 41% share of the US e-commerce market, the other smaller players that are competing with Amazon needs to keep up with technological advancements in robotics and automation that Amazon is able to afford in terms of research and development. As such, Berkshire Grey is important to all the other players other than Amazon that needs to replace their current processes to convert them into more automatic processes leveraging the power of artificial intelligence and robotics. The case for automation (Berkshire Grey slides) Market opportunity When thinking about the market opportunity for Berkshire Grey, I think that the industry for warehouse and fulfilment centre automation is growing as the demands and pressures to automate increases as mentioned above. According to independent research on the world's demand for warehouse automation by 2030, it expects the market to grow to $147 billion with an expected CAGR of 12% over the period. Apart from the opportunity from warehouse automation, the company attempted to target verticals outside of e-commerce, including retail grocery, packaging handling and third party logistics. As such, the company expects its total addressable market to be around $280 billion today. Berkshire Grey Go-To-Market strategy (Berkshire Grey 2Q22 slides) In terms of its strategy to expand and grow, the company has identified what it terms "strategic accounts". These are fortune 100 retailers like Walmart (WMT), FedEx (FDX) and Target (TGT). I think that it's interesting that these 3 Fortune 100 retailers are already in some ways customers of Berkshire Grey and that these accounts are thus very important strategically for the company as it adopts a land and expand model. It has identified another 1,000 enterprise accounts which is in its pipeline to bring about additional opportunities. Large customer accounts and strong order book During its listing on the stock exchange, the company has disclosed that it counts Walmart, FedEx and Target as its customers. I looked into the capital expenditure budgets of Walmart, FedEx and Target to get a clearer understanding about the quantity and the growth rates of the capital budgets of these large accounts and how much they are spending to upgrade and renew their supply chains. In 2021, Walmart increased its capital expenditures by 28% to $13 billion while Target increased capital expenditures in 2021 by 34% to $3.5 billion. FedEx's capital expenditures remained stable at around $6 billion in 2021. Their total capital expenditure added up to around $23 billion, although only a portion of it would go to warehouse and supply chain automation needs like the products that Berkshire Grey offers. In addition, there were encouraging news prior to the second quarter results of Berkshire Grey. The company announced that it is expanding its relationship with FedEx. I am of the view that this expansion of the relationship with FedEx shows the compelling value add that Berkshire Grey's products brings to its clients and the opportunity for Berkshire Grey to expand its current scope of business with its large strategic accounts. Along with this announcement, Berkshire Grey also said that with the condition that FedEx orders or makes payment for at least $200 million in Berkshire Grey's products and services by end 2025, the 25 million warrants that Berkshire Grey granted FedEx would vest. While during the management call the management has also said that they expect the actual number of orders from FedEx in the long term to be far greater than this $200 million. Improving financially While the long term operating model may still be many years away, I am glad that management has communicated this early and is rather confident of achieving this over time. Based on their long term operating model, they expect to generate $1 billion in revenues while achieving 50% gross margins and 25% adjusted EBITDA margins. Long term operating model (Berkshire Grey 2Q22 slides) In the current second quarter results, management has demonstrated their ability to improve gross margins. The improvement in gross margins comes from the realisation of efficiencies for its more mature products, continued progress in reducing product costs, and lastly to increase average selling price to boost margins. Management shared some examples of product cost reduction initiatives, which includes a design change of a negative margin product that led to deployment times being reduced and the overall costs of product was reduced by 10% as a result of these design changes. Another example of a more recently launched product for which the company carried out design changes saw the product cost reduced by 20% and these reduction in costs will become increasingly material over the year.
Seeking Alpha • Apr 27

Berkshire Grey: A First Assessment

We put small cap Berkshire Grey in the spotlight for the first time. The manufacturer of AI enabled robotic solutions is a play on the continued growth of ecommerce and the buildout of the warehouse space to accommodate that growth. Despite impressive revenue growth, the market has punished the shares pushing them deep into 'Busted IPO' territory. Time to buy the dip? A full investment analysis follows in the paragraphs below.
Articolo di analisi • Mar 30

Berkshire Grey, Inc. (NASDAQ:BGRY) Analysts Just Trimmed Their Revenue Forecasts By 17%

The analysts covering Berkshire Grey, Inc. ( NASDAQ:BGRY ) delivered a dose of negativity to shareholders today, by...
Seeking Alpha • Nov 02

Berkshire Grey: Potential Sector Protagonist In AI Robotics

Berkshire Grey is trading ~40% lower than the initial IPO valuation. Top names are involved as investors, customers, or partners. There are proprietary solutions and a holistic approach from Berkshire Grey's competitive advantage. Large TAM and sector potential constitute a large pool for future revenue. The presence of high-quality leadership and personnel can lead to success.

Ripartizione dei ricavi e delle spese

Come Berkshire Grey guadagna e spende denaro. In base agli ultimi utili dichiarati, su base LTM.

Storico di utili e ricavi

NasdaqGS:BGRY Ricavi, spese e utili (USD Millions )
DataRicaviUtiliSpese G+ASpese di R&S
31 Mar 2367-1164367
31 Dec 2266-1033673
30 Sep 2276-1164775
30 Jun 2271-1296475
31 Mar 2252-1327072
31 Dec 2151-1539264
30 Sep 2131-1398656
30 Jun 2114-1136647
31 Mar 2113-915540
31 Dec 2035-582936
31 Dec 198-502028

Guadagni di qualità: BGRY al momento non è redditizia.

Margine di profitto in crescita: BGRY al momento non è redditizia.

Flusso di cassa libero e analisi degli utili

Analisi della crescita degli utili nel passato

Andamento degli utili: BGRY non è redditizia e le perdite sono aumentate negli ultimi 5 anni a un tasso pari a 19.6% all'anno.

Accelerare la crescita: Impossibile confrontare la crescita degli utili di BGRY nell'ultimo anno con la sua media quinquennale poiché al momento non è redditizia

Guadagni vs Settore: BGRY non è redditizia, il che rende difficile confrontare la crescita dei suoi utili dell'anno passato con il settore Machinery ( 1.6% ).

Rendimento del capitale proprio

ROE elevato: BGRY ha un Return on Equity negativo ( -289.08% ), in quanto al momento non è redditizio.

Rendimento delle attività

Rendimento del capitale investito

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Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2023/07/21 14:12
Prezzo dell'azione a fine giornata2023/07/19 00:00
Utili2023/03/31
Utili annuali2022/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

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Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

Berkshire Grey, Inc. è coperta da 3 analisti. 1 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
Andrew ObinBofA Global Research
Gregory PalmCraig-Hallum Capital Group LLC
Ross SparenblekWilliam Blair & Company L.L.C.