Aurrigo Reports H1 2025 Results with Autonomous Division Driving Margin Improvement

Aurrigo’s H1 2025: revenue down, margins up, Autonomous takes the wheel

Aurrigo 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.

H1 2025 key numbers investors should know

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 division: commercial traction and margin mix shift

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:

• Auto-Cargo launched – Aurrigo’s largest autonomous aviation vehicle to date, developed with UPS, capable of carrying and towing up to 16,500kg.
• Swissport partnership – a three-year deal covering Auto-Sim at Zurich Airport and an Auto-DollyTug trial, due for delivery soon.
• Schiphol network approval – Aviation Solutions B.V. formally approved Auto-DollyTug and Auto-Sim for recommendation across 60+ airports.
• Teesside project – Auto-Shuttle testing in H2 2025, moving to live airside operations with Auto-DollyTug.
• Canada Auto-Shuttle trial – launched and expected to begin public road service in Q4 2025.

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.

Quick jargon check: what’s what

• Auto-Sim – a 3D simulation and digital twin tool to model airport operations and validate ROI before buying.
• Auto-Connect – the live orchestration platform that assigns and optimises tasks across autonomous fleets.
• Auto-Stack – Aurrigo’s in-vehicle autonomous driving software controlling perception, mapping and navigation.

Automotive division: tariffs pinch, volumes volatile

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.

Balance sheet firepower: £14.1 million raised post period end

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.

Outlook and trading: delays acknowledged, momentum intact

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.

Why this update matters for Aurrigo shareholders

• Mix-led margin improvement – Gross margin jumped to 42.3% as Autonomous scaled. That is exactly the direction of travel investors want to see.
• Strategic validation – Partnerships with Swissport and the Schiphol network are meaningful endorsements in a market that values proof over promises.
• Funding secured – The £14.1 million raise enables the company to execute at pace rather than drip-feed progress.
• Real-world readiness – Crossing live taxiways is a practical hurdle cleared, pushing Aurrigo closer to scaled deployment.

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.

Key watch items for H2 2025

• Auto-DollyTug delivery to Swissport at Zurich and initial results.
• Teesside testing and progression to live airside operations.
• Canada Auto-Shuttle moving to public road service in Q4 2025.
• Conversion of Auto-Sim studies into vehicle and system orders.
• Automotive volume stabilisation as tariff effects normalise.
• Cash burn versus the enlarged funding headroom.

Join the conversation with management

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.

My take

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.