Geek+, the Hong Kong-listed warehouse robotics maker, has reported interim results for the six months to 30 June 2026 showing its services business growing more than twice as fast as the company overall, as it pushes customers from one-off equipment purchases toward long-term operations contracts.
New signed orders across the group rose 35.5% year-on-year to about $335 million, while revenue climbed 25.3% to $180 million. Gross profit came in at $65 million, up 27.8%, and gross margin widened from 35.1% to 35.8%.
Services outgrow hardware
The figure that stands out in the results is subscription services, where orders reached about $22 million, up more than 75% year-on-year. Growth was sharper still in the Americas, with subscription orders there rising 455%.
The company says that demand for this kind of contract is strongest in mature markets where automation is already established and operators are looking for ongoing performance rather than another capital project.
Geek+ has roughly 81,000 robots deployed with more than 1,000 end customers, and the subscription push is a move to earn a second stream of revenue from fleets already installed, instead of relying on each new site win.
Recurring service contracts also tend to carry higher margins than hardware and are easier to forecast, which matters for a business still working its way to profitability.
On the company’s own reading, an installed base of that size is now converting into service revenue quickly enough to count as a growth engine in its own right, rather than an after-sales line item.
Pallet handling and factory floors
The rest of the order book grew in places that sit outside classic e-commerce fulfilment. Pallet-to-person orders more than tripled, up over 200% year-on-year, while orders for manufacturing applications rose by more than 600% as the company moved from finished-goods warehousing into production logistics such as line-side supply, work-in-progress buffering and similar tasks inside factories.
Its embodied intelligence products, meanwhile, picked up partnerships with several additional Fortune Global 500 companies, which Geek+ sees as a route into multiple sites once a first deployment proves out.
International business continues to be an important growth area for the company. More than 75% of revenue came from outside China, and gross margin on those sales reached 46.2%, well above the group average.
Geek+ now serves customers in more than 40 countries and regions, including over 85 Fortune Global 500 enterprises, and reports a repurchase rate of 80%. Interact Analysis has ranked it first in global autonomous mobile robot market share for seven consecutive years.
What comes next
Three priorities are set out for the rest of the year and beyond: AI-driven subscription services for warehouse operations, wider product coverage across different site types, and turning embodied intelligence work into commercial shipments.
On the product side, August brought the RoboShuttle Hyper, a climbing tote-to-person system rated at 6,000 totes an hour and aimed at high-throughput micro-fulfilment centres, a segment Geek+ expects to be worth $55.18 billion by 2030.
The company also notes that shared platforms and common components across its product lines make it easier to sell more than one system to the same customer.
Embodied intelligence is being positioned as the second growth curve, with a target of more than 10,000 cumulative shipments within three years and expansion beyond warehousing into manufacturing and retail.
That work runs on the company’s GINO ECO ecosystem strategy and what it calls a data flywheel, the idea being that robots already working in customer sites generate the operating data used to improve the next generation.
Taken together, the half-year numbers describe a business whose hardware sales are still growing at a healthy clip, but whose margin story increasingly depends on what happens after the robots are installed.
