AoFrio, the smart refrigeration company, has reported a 5.9% increase in revenue for the nine months to September 30, 2025.
Revenue reached $63 million, up from $59.4m in the same period last year.
The company's ebitda also rose by 28.6% to $2.7m.
The growth in revenue was driven by strong demand for AoFrio's intelligent IoT refrigeration hardware and software-as-a-service (SaaS) solutions.
Revenue from the sale of motor products increased by 8.3% to $29.4m, while revenue from the sale of IoT hardware rose by 3.9% to $33.6m.
The company said its gross margin improved to 31.3% from 29.4%.
AoFrio's chief executive, Greg Balla, said the global food and beverage industry is recognising the value of refrigeration data and the opportunities it offers when combined with machine learning and artificial intelligence.
The company expects to achieve record revenue and earnings for the full financial year.
See more
