AI-based tech firm Berkshire Grey jumps on over eight-fold rise in Q3 revenue

Berkshire Grey

11/11/2021 15:38

** Shares of AI-based tech company  BGRY.O  rise 8.4% to
$6.33 in morning trade
    ** Berkshire Grey, which provides technology for supply
chain operations, says Q3 rev surged 750% to $18.8 mln vs
previous year  urn:newsml:reuters.com:*:nGNX77Wwp9
    ** Co says it is getting repeat orders from blue-chip anchor
customers and is adding new customers through direct sales and
partnerships
    ** Says it recently secured new orders of $36 mln, which
have increased its backlog to a record high of $113
mln urn:newsml:reuters.com:*:nGNX4jR3XW
    ** Forecasts 2021 revenue of about $50 mln
    ** Including session's gains, stock down about 42% since
February, when company went public through $2.7 bln combination
with blank check firm Revolution Acceleration Acquisition Corp

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))