# Subscription-Based Services Boom! Geek+ Reports 2026 Interim Results: Orders Up 35.5%, Breakthroughs Across the Business Spectrum

- Link: https://www.thailand-business-news.com/pr-news/subscription-based-services-boom-geek-reports-2026-interim-results-orders-up-35-5-breakthroughs-across-the-business-spectrum
- Published: 2026-09-02T11:14:00+07:00
- Author: PR Newswire

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.

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