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Aurrigo's H1 2025 reveals a strategic pivot: margins hit 42.3% as Autonomous drives growth, fueled by a £14.1m fundraise.
This article covers information on Aurrigo International PLC.
LON:AURRAurrigo International’s interim results show a business leaning into its core opportunity. Revenue slipped 9.8% to £3.5 million as Automotive volumes softened in Q2, but gross margin jumped to 42.3% on the back of a bigger contribution from the higher-margin Autonomous division. The adjusted EBITDA loss widened to £1.6 million as the company invested in team and delivery capability.
The headline after the period end is the £14.1 million fundraise. That materially strengthens the balance sheet and gives Aurrigo the firepower to scale production, build multiple demonstrators, expand the team and potentially move to larger UK facilities in Coventry. In short: the company has bought itself time and capacity to execute.
| Total revenue | £3.5 million (H1 24: £3.9 million) |
| Autonomous revenue | £1.1 million, up 41% (H1 24: £0.8 million) |
| Automotive revenue | £2.36 million, down 23.2% (H1 24: £3.1 million) |
| Gross profit | £1.5 million; margin 42.3% (H1 24: 35.0%) |
| Adjusted EBITDA | £(1.6) million loss (H1 24: £(1.2) million) |
| Loss before tax | £(2.1) million (H1 24: £(1.6) million) |
| Net cash at 30 June | £1.8 million (H1 24: £1.8 million), before the £14.1 million fundraise |
| Other operating income | £0.4 million (grants and RDEC) |
Autonomous revenue rose 41% to £1.1 million, with the division now clearly driving the margin improvement. This is where Aurrigo wants to be: higher-value software and systems underpinning airside logistics. The period saw a string of credible validators and deployments:
On the tech side, the company highlights advances in its software stack and a key operational milestone: enabling vehicles to safely cross live taxiways. That is essential for real-world deployment in complex, regulated airside environments.
Automotive delivered £2.36 million, with Q1 in line, but Q2 hit by production volatility linked to US tariffs on UK OEMs. Management expects some stabilisation later this year. The company is also monitoring the recent cyber incident at JLR; impact on Aurrigo has been minimal so far and allowed some stock build ahead of normal activity resuming.
Big picture: the legacy Automotive business remains a useful base, but the strategic upside sits firmly in Autonomous.
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After the half year, Aurrigo completed an oversubscribed £14.1 million fundraise. That significantly de-risks the near-term cash position, funds production scale-up, accelerates product development and lets the company build multiple demonstrator vehicles to convert prospects. Combined with over £1 million of new grants for Auto-Cargo, Auto-Shuttle and software projects, the funding stack now matches the growth ambition.
The Group enters H2 in line with revised Board expectations for FY25. There are tender delays and some projects pushed into next year, which is not unusual for disruptive tech selling into regulated infrastructure. Counterbalancing that, commercial momentum is building: Swissport activity has commenced, Teesside goes live in stages through H2, and the Canadian Auto-Shuttle aims for public service in Q4 2025.
The investment thesis is increasingly about converting reference sites and trials into multi-airport rollouts. The Schiphol network recommendation and the Swissport partnership provide strong credibility in that regard.
On the flip side, total revenue fell 9.8%, the adjusted EBITDA loss widened as hiring continued, and Automotive remains exposed to external shocks like tariffs. The near-term narrative is still one of investment and delivery, not profitability.
Management is hosting an investor presentation and Q&A. You can register here: Investor Meet Company. For ongoing updates and direct Q&A, visit the interactive hub: Aurrigo Investor Hub.
This is a solid, if unspectacular, set of numbers with the right kind of progress beneath the surface. Autonomous is growing and lifting margins, the partner roster is deepening, and the cash raise removes a major near-term risk. The challenge now is execution: convert trials into multi-site deployments and do it efficiently.
If Aurrigo lands one or two scaled commercial rollouts across a global handler or an airport group, the P&L could inflect quickly. Until then, expect lumpiness, continued investment, and a share price that moves on contract news as much as on reported numbers.
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