Aurrigo posts wider annual loss
By Josh White
Date: Thursday 04 Jun 2026
(Sharecast News) - Aurrigo International reported a wider annual loss on Thursday as revenue declined, but said it ended 2025 with a strengthened balance sheet and growing commercial momentum in its autonomous vehicle business.
The AIM-traded autonomous vehicle and automotive technology group said revenue fell 10% to £8.0m in the year ended 31 December, from £8.9m a year earlier, although the figure was ahead of the revised expectations it announced in August.
Revenue in the autonomous division slipped to £2.6m from £2.9m, with some programme milestones moving into 2026 as customer deployments progressed into more complex phases.
The automotive division generated revenue of £5.4m, down from £5.9m, but recovered strongly in the second half after disruption from US tariffs and customer-specific operational issues.
Gross profit declined to £3.3m from £3.6m, while the adjusted EBITDA loss widened to £3.0m from £1.6m, in line with expectations.
Aurrigo said the result reflected improved gross margins offset by continued investment in international scaling, engineering capability and operational infrastructure.
The company reported an operating loss of £4.1m, compared with £2.5m in 2024, while its pre-tax loss widened to £3.9m from £2.5m.
The loss attributable to shareholders was £3.9m, compared with £2.5m a year earlier, with basic and diluted loss per share of 6p, compared with 5p in 2024.
Aurrigo ended the year with net cash of £11.5m, up from £3.1m, after raising £13.8m net through equity issues during the year.
Total equity raised before costs was £15.9m, including a £1.8m January placing and an oversubscribed £14.1m placing in September anchored by strategic investor Next Gen Mobility.
Operationally, the company said it made strong progress in its autonomous airport programmes, including the delivery of Auto-Cargo, its largest autonomous aviation vehicle to date.
It also signed a strategic partnership with Swissport International, including a six-month trial at Zurich Airport, giving Aurrigo potential access to Swissport's network of more than 270 airports.
Progress also continued at Amsterdam Airport Schiphol, where Aurrigo's Auto-DollyTug and Auto-Sim products were recommended to Aviation Solutions, the commercial arm of Royal Schiphol Group, supporting potential access to a network of more than 60 airports.
The company said its autonomous software and systems integration capabilities had become increasingly important as vehicles moved closer to live operational deployment, particularly in interfacing with mission-critical airport infrastructure and meeting safety and cyber security requirements.
After the year end, Aurrigo launched an international hub strategy, establishing regional delivery and deployment capability in Coventry, Cincinnati, Singapore and Malaysia, Dubai and Amsterdam.
It said the approach was intended to support faster deployment, local manufacturing and assembly, and protection of its intellectual property as it scales internationally.
Aurrigo also secured its largest autonomous vehicle order to date after being awarded a £6.28m contract by Ultra Global to design and manufacture 25 autonomous guided vehicles for airport and passenger transit applications in the UK.
The contract was expected to generate £1.53m of revenue in 2026 and £4.75m in 2027.
The automotive division also won a three-year £4.5m framework agreement after the period ended to supply high-performance electrical systems for a next-generation supercar programme, with £0.81m expected in 2026 and the balance across 2027 and 2028.
Chief executive David Keene said 2025 was "another strong year of progress" as Aurrigo scaled internationally and advanced its autonomous solutions into more complex operating environments.
"Automotive again demonstrated the resilience of the division and the strength of its customer relationships, recovering well during the second half and securing an important new contract post-period end," he said.
"With growing commercial momentum, an expanding pipeline, a clear international growth strategy and a strengthened balance sheet, we believe Aurrigo is well positioned as airports increasingly move beyond trials and toward the long-term deployment of autonomous solutions."
Aurrigo said trading in the new financial year had started positively, with pipeline activity and tender engagement continuing to build across its target markets.
The company said it remained focused on converting trials into operational deployments, while acknowledging that the challenges of scaling disruptive technology should not be underestimated.
At 1135 BST, shares in Aurrigo International were up 1.35% at 75p.
Reporting by Josh White for Sharecast.com.
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