How does Boston Dynamics print?
Hardware and programs. Recurring software if they get there.
Atlas and Spot. Hyundai-owned. Cash-heavy, thinner equity than the startups.
The mix
- Hardware / programsUnits and contracts.70%
- Software / otherStack and services.30%
Industry-shape composite. Not a filing.
Who pays
Enterprises, defense, or early pilots.
Who builds
Hardware, controls, and embodied research.