On January 11, Berkshire Grey Inc. (BGRY) announced its upcoming presentation at the Needham Growth Conference. Consequent to the announcement, the stock added 6.22% in the pre-market on Tuesday.
During regular trading, BGRY stock saw a high of $4.32 and a low of $4.14. The stock closed the session with a loss of 1.88% at $4.18. After the news was announced, the stock reached $4.44 in the pre-market.
The intelligent enterprise robotics company, Berkshire Grey Inc. is headquartered in Bedford, MA. Currently, its 223.93 million outstanding shares trade at a market capitalization of $978.46 million.
BGRY’s Upcoming Participation
According to Tuesday’s announcement, the company will be presenting at the 24th Annual Virtual Needham Growth Conference. Further, the company’s management will be presenting at the conference on Wednesday, January 12, 2022.
Next-Gen BG RPS Solution
On December 08, the company announced the introduction of its next-generation Robotic Product Sortation (BG RPS) solution for order fulfillment. The BGRY’s RPS is a high-capacity automation solution for picking, sorting, and pecking individual items robotically. Moreover, it sorts the items into outbound order containers without any human labor need. In addition, the latest version of the solution has a dual-wing design, hence increasing its speed by over 25%. Also, the new version doubles its simultaneous order processing capacity.
Furthermore, the RPS system help retailers and eCommerce providers to:
- Enhance throughput of existing fulfillment operations by 2X
- Increase shipment capacity and container cube utilization by 10%
- Maximize ROI from automation designed for storage
- Scale processing and operate with maximum flexibility
- Below 2,500 square feet installation footprint into existing operations
- Configurable order container sizes and batches support
Additionally, the BG RPS solution is best suited for overcoming the ongoing labor shortages.
BGRY’s Financial Analysis
The company declared its financial results for the third quarter of 2021, on November 11, 2021.
BGRY generated revenue of $18.8 million in the third quarter of 2021. Consequently, this shows a humungous year-over-year growth of 750% or $16.6 million against Q3 of 2020.
Secondly, the company incurred a net loss of $40.5 million in the third quarter of 2021. Resultantly, the net loss per diluted share in the third quarter of 2021 was $0.22.
Finally, the company ended the quarter with cash of $203 million and no debt.
