Ocado Company Profile: History, Structure, Financials, Technology and Stock
Updated: 7 days ago
Ocado Group is a British technology company that builds robotic warehouses for online grocery, and licenses them to retailers around the world. It began as an online supermarket in 2000 and still owns half of the UK retailer Ocado.com with Marks and Spencer. The technology business is now going through a difficult period, with two major partners closing sites. This profile sets out Ocado's history, structure, results, technology and listing.
Ocado at a Glance
Fact | Detail |
Company | Ocado Group plc |
Founded | January 2000, by Jonathan Faiman, Jason Gissing and Tim Steiner |
Headquarters | Hatfield, England |
Businesses | Technology Solutions, Logistics, and a 50% stake in Ocado Retail |
Half-year revenue | GBP 1,037 million in the first half of 2026, including one-off closure fees |
Underlying revenue | GBP 684 million, up 1% |
Stock listing | London Stock Exchange: OCDO; FTSE 250 |
Market capitalization | About USD 2.85 billion in October 2026 |
Chief Executive Officer | Tim Steiner |
Chairman | Richard Haythornthwaite |
Company History
Three former Goldman Sachs bankers founded the company in 2000. It began trading in 2002 in partnership with Waitrose and floated in London in July 2010. The decisive change came in 2015 with the launch of the Ocado Smart Platform, which packaged its warehouse robots and software for licensing to other grocers.
Key milestones
2000: Founded as L. M. Solutions.
2002: Trading begins with Waitrose.
2010: Initial public offering.
2014: Service for Morrisons begins.
2015: Ocado Smart Platform launched.
2017 to 2020: Technology partnerships signed with Casino Group, Sobeys, Kroger and Coles.
2019: Joint venture announced with Marks and Spencer, which paid GBP 750 million for 50% of Ocado.com.
Structure
Technology Solutions: licenses the Ocado Smart Platform, with its automated customer fulfillment centers, to grocery retailers.
Logistics: runs fulfillment and delivery operations in the UK.
Ocado Retail: the UK online supermarket, owned 50% by Ocado and 50% by Marks and Spencer.
The company has also begun selling its mobile robot systems for uses outside grocery, and says new partners are accelerating that business.
Financial Performance
Item | First half of 2026 |
Reported revenue | GBP 1,037 million, up 54%, driven by one-off closure fees from Kroger and Sobeys |
Revenue excluding closure receipts | GBP 684 million, up 1% |
Adjusted EBITDA | GBP 81 million, down GBP 11 million |
Underlying cash flow | Outflow of GBP 147 million |
Liquidity | More than GBP 1.1 billion |
Gross debt | GBP 1,438 million |
The headline growth is misleading. Kroger and Sobeys closed sites and paid closure fees, which lifted reported revenue; without them revenue grew 1%. Technology Solutions revenue rose 5% on a like-for-like basis and Logistics 8%, and volume at international fulfillment centers that remain open grew 27%.
Ocado's response is cost reduction and cash discipline. It targets annualized savings of GBP 150 million, expects Technology Solutions revenue of about GBP 500 million for the year with an EBITDA margin of about 30%, and aims to be cash flow positive in the second half of 2026 and for the following full year. It has also announced a succession plan and a simpler organization.
Leadership
Name | Role |
Tim Steiner | Chief Executive Officer and co-founder |
Richard Haythornthwaite | Chairman |
Stock Information
Item | Detail |
Listing | London Stock Exchange: OCDO |
Market capitalization | About USD 2.85 billion in October 2026 |
Share price | Equivalent to about USD 3.4 |
One-year change | Up about 13% |
Press reports in 2026 noted that the shares trade below their 2010 flotation price and that some shareholders have called for a change of chief executive.
Note: share prices are indicative figures as of early October 2026 and change daily. This section is general information, not investment advice.
Strengths and Challenges
Strengths
Proven, highly automated grocery fulfillment technology.
Long-term licensing partners on several continents.
More than GBP 1.1 billion of liquidity.
Challenges
Site closures by two of its largest partners.
Continued cash outflow and high debt.
Shareholder pressure and a pending leadership transition.
Current Catalogue Coverage
Catalogue checked on 15 October 2026: 14 associated product records. The links below are representative entries, rather than a claim that every historical model is currently available.
Ocado FAQ
Is Ocado publicly traded?
Yes, on the London Stock Exchange under the symbol OCDO.
What does Ocado Group do?
It licenses robotic warehouse technology for online grocery through the Ocado Smart Platform, runs logistics operations, and owns half of the UK online supermarket Ocado.com.
Who owns Ocado Retail?
Ocado Group and Marks and Spencer each own 50%.
Who are Ocado's technology partners?
Retailers that have signed up include Morrisons, Casino Group, Sobeys, Kroger and Coles.
Who is the CEO of Ocado?
Co-founder Tim Steiner.
Sources
Quartr: Ocado Group H1 2026 earnings summary
Wikipedia: Ocado Group
