Subscription-Based Services Boom! Geek+ Reports 2026 Interim Results: Orders Up 35.5%, Breakthroughs Across the Business Spectrum
HONG KONG, Sept. 2, 2026 /PRNewswire/ -- Geek+ (stock code: 2590.HK), a global leader in intelligent robotics, today announced its interim results for the six months ended 30 June 2026. Driven by the dual engines of AI and embodied intelligence breakthroughs alongside deepened global expansion, the Group delivered a standout interim performance. New signed orders jumped 35.5% YoY to RMB2.385 billion, leading the industry and injecting strong momentum into full-year performance. Revenue climbed 25.3% YoY to RMB1.284 billion, while gross margin improved to 35.8%. Adjusted net loss narrowed 32.1% YoY to RMB60.6 million; excluding embodied intelligence R&D investment of RMB44.5 million, the loss shrank 81.9% to just RMB16.1 million, bringing the core business close to break-even.
The Group's growth engines have become more diversified and robust, with the boom in subscription-based service orders signalling that its substantial installed base is accelerating conversion into incremental service revenue, forming a high-quality growth pattern of sustained core warehouse AMR growth plus coordinated multi-engine drivers.
Subscription-Based Services Emerge as New Growth Engine
The standout of the results was the explosive growth in subscription-based services, with orders reaching RMB156 million, up over 75% YoY. Leveraging an installed base of 1,000 end customers and 81,000 deployed robots worldwide, the Group is upgrading client relationships from one-off project delivery to long-term operations services. This high-margin, recurring model brings greater predictability and counter-cyclical resilience to performance, while significantly enhancing customer stickiness and building a differentiated competitive moat. The 75% growth rate signals that services are rapidly becoming one of Geek+'s core strategic pillars. Notably, subscription orders in the Americas jumped 455% YoY, fully validating robust demand in mature overseas markets and opening up global replication opportunities.
Beyond subscriptions, the business matrix saw broad-based strength: Pallet-to-Person orders grew over 200% YoY, consolidating market leadership; manufacturing scenario orders jumped over 600% YoY, extending from warehouse fulfillment to production logistics; and embodied intelligence products secured partnerships with multiple Fortune Global 500 companies, whose global business networks serve as a natural global replication channel.
Profitability and Global Reach
In 1H2026, overall gross profit reached RMB460 million, up 27.8% YoY, with gross margin expanding from 35.1% to 35.8%, reflecting continuously enhanced profitability. Revenue from non-domestic regions accounted for over 75% of total revenue, and sales gross margin from these markets hit 46.2%, fully demonstrating the high value-added competitiveness of the Group's globalized products and services.
As at period end, Geek+ served over 1,000 end customers across 40+ countries and regions, including 85+ Fortune Global 500 enterprises, with a customer repurchase rate as high as 80%. According to Interact Analysis, the Company has retained the No. 1 global autonomous mobile robot (AMR) market share for seven consecutive years.
Outlook: Three Engines for Growth
Going forward, Geek+ will focus on three strategic directions: AI-powered intelligent operations subscription services, full-scenario product innovation, and embodied intelligence commercialization.
In August, the Group launched the all-new RoboShuttle Hyper climbing Tote-to-Person solution, with system throughput of 6,000 totes per hour, precisely targeting high-traffic MFC front warehouses in a market projected to reach US$55.18 billion by 2030. Meanwhile, shared technology foundations and core components across product lines continue to accelerate economies of scale and cross-selling advantages, further supporting steady performance growth.
As its second growth curve, embodied intelligence will transition from order realization to scale contribution. Based on the data flywheel and GINO ECO ecosystem strategy, the Group targets cumulative shipments of over 10,000 units within three years, expanding from warehousing to manufacturing and retail scenarios.
source: Geek+