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(Sharecast News) - Aurrigo International said on Monday that it expected to report revenue of about 8m for the year ended 31 December, ahead of rebased expectations, as performance across both divisions improved despite a volatile macroeconomic backdrop.
The AIM-traded transport technology group said the full-year revenue outcome compared with 8.9m in 2024 and was above market expectations that were reset in August.
Adjusted EBITDA losses and losses before tax were expected to be in line with expectations, with improving gross margins partly offset by modestly higher operating costs as the business invested in scaling its operations.
In the automotive division, the company reported a strong recovery in the second half of the year after volumes stabilised following tariff-related disruption affecting UK OEM customers in the second quarter.
As a result, second-half revenues were around 30% higher than in the first half, with full-year automotive revenue expected to be 5.4m, down from 5.9m in 2024.
The autonomous division contributed 2.5m of revenue, compared with 2.9m a year earlier, reflecting continued progress across core programmes, although some delivery milestones moved into the new financial year.
During the period, Aurrigo launched Auto-Cargo, its largest autonomous aviation vehicle to date, and signed a strategic partnership with Swissport International.
The company also reported further progress integrating autonomous solutions into airport systems and securing new projects, supported by sustained engagement with airports and ground handlers.
Aurrigo said it ended the year with cash of 11.5m, ahead of expectations, following a 13.8m net fundraising during the year.
The raise brought in new institutional shareholders as well as the company's first strategic investor, Nex Gen Mobility, leaving the group positioned to support growth initiatives.
"I am really proud of the performance of the company, with a full year outturn ahead of expectations as reset in August, which reflects how closely we work with customers to support them through uncertain market conditions," said chief executive David Keene.
"With a strong cash position and a clear pipeline of opportunities, we head into 2026 confident in the progress the company will make."
At 1211 GMT, shares in Aurrigo International were up 2.86% at 90p.
Reporting by Josh White for Sharecast.com.