Financial Data and Key Metrics Changes - Revenue increased by 26% year over year to $592 million, driven by solid progress across 46 systems in deployment and expansion of operational systems [12][10] - Net loss for the third quarter was $32 million compared to a loss of $27 million in the previous year [12] - Adjusted EBITDA was $45 million, significantly up from $3 million in the previous year [12] - Backlog remained strong at $22.4 billion, slightly down from $22.7 billion last quarter due to revenue recognized [12] Business Line Data and Key Metrics Changes - Software revenue more than doubled year over year to $8.1 million, while operational services revenue grew 54% year over year to $24.9 million [15] - System gross margin showed significant year-over-year improvement due to strong cost control and project execution [15] Market Data and Key Metrics Changes - The company processed over 6.5 million cases in a single day, indicating strong operational throughput [6] - Customer response to the next-generation storage structure has been very positive, with projects signed in the fiscal third quarter [10] Company Strategy and Development Direction - The company is focused on driving innovation across its technology stack, including the introduction of a next-generation storage structure that increases storage density and reduces on-site assembly parts by over 90% [9][10] - The new structure is expected to enhance scalability and accelerate deployment across various supply chain aspects [9] - The company aims to unlock higher margins and long-term value creation through its innovative product offerings [10] Management's Comments on Operating Environment and Future Outlook - Management anticipates an adjustment in the timing of several previously planned deployments to support the transition to the next-generation storage structure, which may moderate growth in the near term [20] - For fiscal 2025, the company expects revenue between $590 million and $610 million and adjusted EBITDA between $45 million and $49 million [21] Other Important Information - The company has a healthy balance sheet with cash and equivalents of $778 million, down from $955 million in the previous quarter [16] - The transition to a new CFO, Izzy Martins, is set to take place on August 9, 2025 [11] Q&A Session Summary Question: Can you quantify the next-generation storage technology in terms of installation times and retrofit opportunities? - Management does not expect Walmart to retrofit existing systems but believes the new structure will allow for smaller projects and additional capabilities [26][27] Question: What is the expected growth trajectory for new starts? - New starts are expected to step up again now that the design is commercially available, with a historical average of mid to high single-digit new starts [90] Question: What are the implications of the new storage structure on cost and margins? - The new structure is expected to save customers money due to reduced space requirements while allowing the company to achieve higher margins [37] Question: How does the company view the competitive environment? - Management is aware of new technologies but feels confident in their market position and expects to grow market share [69] Question: What is the expected impact of the new storage system on backlog and customer acquisition? - Most new systems going forward are expected to be associated with the next-generation structure, which is anticipated to accelerate customer acquisition [54][55]

Financial Data and Key Metrics Changes - Revenue increased by 26% year over year to $592 million, driven by solid progress across 46 systems in deployment and expansion of operational systems [11][12] - Net loss for the third quarter was $32 million compared to a loss of $27 million in the previous year [11] - Adjusted EBITDA was $45 million, significantly up from $3 million in the previous year [11] - Backlog remained strong at $22.4 billion, slightly down from $22.7 billion last quarter due to revenue recognized [11] Business Line Data and Key Metrics Changes - Software revenue more than doubled year over year to $8.1 million, while operational services revenue grew 54% year over year to $24.9 million [13] - System gross margin showed significant year-over-year improvement due to strong cost control and project execution [13] Market Data and Key Metrics Changes - The company processed over 6.5 million cases in a single day, indicating strong operational throughput [5] - Customer response to the next generation storage structure has been very positive, with projects signed in the fiscal third quarter [9] Company Strategy and Development Direction - The company is focused on driving innovation across its technology stack, including the introduction of a next generation storage structure that increases storage density and reduces on-site assembly parts by over 90% [8][9] - The new structure is expected to enhance scalability and accelerate deployment across various supply chain aspects [8] - The company aims to unlock higher margins and long-term value creation through the new storage structure [9] Management's Comments on Operating Environment and Future Outlook - Management anticipates an adjustment in the timing of several previously planned deployments to support the transition to the next generation storage structure, which may moderate growth in the near term [19] - For fiscal year 2025, the company expects revenue between $590 million and $610 million and adjusted EBITDA between $45 million and $49 million [20] Other Important Information - The company has a healthy balance sheet with cash and equivalents of $778 million, down from $955 million in the previous quarter [14] - The transition to the new storage structure is expected to allow for faster scaling over time [19] Q&A Session Summary Question: Can you quantify the next generation storage technology in terms of installation times and retrofit opportunities? - Management does not expect Walmart to perform retrofits but believes the new system can run alongside the old structure, allowing for more efficient use of space [25][26] Question: What is the expected growth trajectory for new starts? - New starts are expected to step up again now that the design is commercially available, with a historical average of mid to high single-digit new starts [86] Question: What are the implications of the new storage system on customer acquisition? - The new structure is expected to accelerate new customer acquisition, with the highest level of customer dialogue ever [92] Question: How will the new storage structure impact backlog and installation timelines? - All new starts this quarter are associated with the next generation structure, and installation is expected to begin mid fiscal year 2026 [50][51] Question: What is the outlook for the ASR portion of the business? - Development revenues for ASR were up sequentially, and this level is expected to be maintained for the next couple of quarters [100][101]

Company Overview - Symbotic is an AI-enabled technology platform transforming the supply chain[17] - The company's AI/software platform drives actionable insights from goods and location data to improve inventory optimization and order accuracy[19] - Symbotic has a transformative technology platform with 46 systems in deployment and 42 operational systems[22, 23] - The company has issued 650+ patents[23] Financial Highlights - Symbotic is experiencing YoY revenue growth of approximately 36%[23] - The company has a total backlog of $22.4 billion[23] - Symbotic is generating positive free cash flow[23] - In FY24, Symbotic's total revenue reached $1.788 billion, and adjusted EBITDA was $62 million[59, 62] - Symbotic reported a GAAP net loss of $84.672 million in FY24[62] Market Opportunity - The company is targeting large addressable markets, including a $432 billion one-time system sales opportunity in operator-owned warehouses[25, 26] - Symbotic has a $500 billion+ "outsourced" incremental annual warehouse-as-a-service opportunity through GreenBox[26]

Revenue Performance - Total revenue for the three months ended June 28, 2025, was $592,121,000, representing a 26% increase from $470,338,000 for the same period in 2024[155] - Total revenue for the nine months ended June 28, 2025, was $1,628,465, an increase of $404,852 or 33% compared to $1,223,613 for the same period in 2024[162] Systems Revenue - Systems revenue increased by 24% to $559,108,000 for the three months ended June 28, 2025, compared to $450,595,000 for the same period in 2024, driven by an increase in Systems in Deployment from 39 to 46[158] - Systems revenue increased by $367,546 or 31% to $1,536,539 due to an increase in Systems in Deployment from 39 to 46[162] Software Maintenance and Support Revenue - Software maintenance and support revenue surged by 129% to $8,121,000 for the three months ended June 28, 2025, up from $3,545,000 in the same period in 2024, due to an increase in Operational Systems under support contracts from 21 to 42[159] - Software Maintenance and Support revenue rose by 146% to $20,331, attributed to an increase in Operational Systems under contracts from 21 to 42[163] Operation Services Revenue - Operation services revenue rose by 54% to $24,892,000 for the three months ended June 28, 2025, compared to $16,198,000 for the same period in 2024, attributed to an increase in Operational Systems[160] - Operation Services revenue increased by 54% to $71,595, driven by a higher number of Operational Systems and increased training services[164] Profit and Loss - Gross profit for the three months ended June 28, 2025, was $107,622,000, up from $54,973,000 in the same period in 2024, reflecting improved revenue performance[155] - Gross profit for the nine months ended June 28, 2025, was $295,489, up $146,240 or 98% from $149,249 in the prior year[168] - The net loss for the three months ended June 28, 2025, was $31,925,000, compared to a net loss of $26,724,000 for the same period in 2024, reflecting ongoing investment in growth despite increased revenues[155] - The company reported a net loss of $(31,925) for the three months ended June 28, 2025, compared to $(26,724) in the same period in 2024, and a net loss of $(71,883) for the nine months ended June 28, 2025, compared to $(100,626) in 2024[190] Operating Expenses - Total operating expenses increased to $144,178,000 for the three months ended June 28, 2025, from $92,593,000 in the same period in 2024, primarily due to higher research and development and selling, general, and administrative expenses[155] - Research and development expenses for the three months ended June 28, 2025, were $52,147,000, compared to $44,722,000 for the same period in 2024, indicating a focus on product development[155] - Selling, general, and administrative expenses for the nine months ended June 28, 2025, totaled $215,092, an increase of $71,557 or 50% from $143,535 in the previous year[176] Restructuring Charges - Restructuring charges amounted to $16,361,000 for the three months ended June 28, 2025, indicating ongoing adjustments within the company[155] - Restructuring charges for the three months ended June 28, 2025, were $16,361, representing a 100% increase due to workforce reductions related to the ASR Acquisition[178] - Restructuring charges for the nine months ended June 28, 2025, were $16,130 compared to $34,206 in 2024[190] Cash Flow and Liquidity - Net cash provided by operating activities for the nine months ended June 28, 2025, was $336.3 million, significantly higher than $41.3 million for the same period in 2024[192] - Free cash flow for the nine months ended June 28, 2025, was $293.5 million, compared to $18.3 million for the same period in 2024, indicating a substantial improvement[191] - As of June 28, 2025, the company had a cash and cash equivalents balance of $777.6 million, providing a strong liquidity position[202] - The company expects its current cash and cash equivalents, along with forecasted cash flows, to meet foreseeable cash needs for at least the next 12 months[203] Stock-Based Compensation - Stock-based compensation for the three months ended June 28, 2025, was $50,279, compared to $30,320 in the same period in 2024, and for the nine months ended June 28, 2025, it was $126,982 compared to $94,508 in 2024[190] - Stock-based compensation for the nine months ended June 28, 2025, was $119.6 million, compared to $86.9 million for the same period in 2024, reflecting a 38% increase[194] Other Income and Tax Expenses - Other income, net for the three months ended June 28, 2025, decreased by $3,164 or 27% to $8,451, impacted by lower cash balances despite higher interest rates[180] - For the nine months ended June 28, 2025, other income, net was $27,626, a decrease of $361 or 1% compared to $27,987 for the same period in 2024[181] - The income tax expense for the three months ended June 28, 2025, was $(44), a decrease of $138 or 76% from $(182) in the same period in 2024[182] - The income tax benefit for the nine months ended June 28, 2025, was $(102), a decrease of $1,306 or 1280% compared to an income tax benefit of $1,204 for the same period in 2024[183] Adjusted Financial Metrics - Adjusted EBITDA for the three months ended June 28, 2025, was $45,394, compared to $2,737 for the same period in 2024, while for the nine months ended June 28, 2025, it was $98,016 compared to $19,312 in 2024[190] - Adjusted gross profit margin for the three months ended June 28, 2025, was 21.5%, up from 13.6% in the same period in 2024, and for the nine months ended June 28, 2025, it was 20.6% compared to 16.5% in 2024[190] - The company believes that non-GAAP financial measures provide a useful comparison of operating results and future prospects, excluding unusual or infrequent items[184][185]

FOR IMMEDIATE RELEASE Symbotic Reports Third Quarter Fiscal Year 2025 Results Wilmington, Massachusetts (August 6, 2025) -- Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, announced financial results for its third quarter of fiscal year 2025, which ended on June 28, 2025. Symbotic reported revenue of $592 million, a net loss of $32 million and adjusted EBITDA of $45 million for the third quarter of fiscal year 2025. 1 Exhibit 99.1 In comparison, Symbotic poste ...

Company Overview - Symbotic is an AI-enabled technology platform transforming the supply chain[17] - The company's AI/software platform drives actionable insights from goods and location data to improve inventory optimization and order accuracy[19] - Symbotic has a transformative technology platform with 46 systems in deployment and 42 operational systems[23] - The company has deep relationships with blue-chip customers and a $224 billion contracted backlog[55] Financial Performance - Symbotic experienced approximately 36% year-over-year revenue growth[23] - The company has a highly visible growth profile underwritten by approximately $224 billion contracted backlog[57] - In FY24, total revenue reached $1788 million, and adjusted EBITDA was $62 million, while GAAP net loss was approximately $85 million[59, 62] - The company is generating positive EBITDA with margin upside and strong free cash flow generation[57] Market Opportunity and Strategy - Symbotic is addressing existential threats such as labor pressures, evolving omni-channel strategies, and SKU proliferation with its AI-powered automation[13, 15] - The company is disrupting large addressable markets, including a $432 billion one-time system sales opportunity in operator-owned warehouses and a $500 billion+ "outsourced" incremental annual warehouse-as-a-service opportunity[26] - Symbotic has a long-term growth strategy targeting multiple vectors, including grocery, general merchandise, 3PL, apparel, CPG, and home improvement[51]

Core Viewpoint - Symbotic Inc. reported strong financial results for Q3 FY2025, with significant revenue growth and operational advancements, despite a net loss. The company is focused on innovation in supply chain robotics and anticipates a temporary revenue impact due to new product launches [1][3][4]. Financial Performance - Revenue for Q3 FY2025 reached $592 million, a 26% increase from $470 million in Q3 FY2024 [1][2]. - The net loss for Q3 FY2025 was $32 million, compared to a net loss of $27 million in the same quarter of the previous year [1][2]. - Adjusted EBITDA for Q3 FY2025 was $45 million, a significant increase from $3 million in Q3 FY2024 [1][2]. Operational Insights - The company experienced a decrease in cash and cash equivalents by $177 million, totaling $778 million at the end of Q3 FY2025 [2]. - Gross margins improved year-over-year, indicating enhanced operational efficiency [3]. - Symbotic is launching a proprietary new storage structure, which is expected to create new opportunities in the supply chain [3]. Future Outlook - For Q4 FY2025, Symbotic projects revenue between $590 million and $610 million, with adjusted EBITDA expected to be between $45 million and $49 million [4].

Core Insights - Symbotic Inc. has announced the commercial availability of its next-generation storage technology, which significantly enhances warehouse automation performance and increases storage capacity [1][4] - The new technology can reduce customers' storage footprint by up to 40%, allowing for more products in a fixed space or achieving target storage volume in a smaller area [2] - The next-generation storage system features pre-assembled components that reduce on-site assembly parts by over 90%, leading to faster implementation times [3][7] Company Overview - Symbotic is a leader in automation technology, focusing on A.I.-powered robotic and software platforms to transform supply chain operations for major retail, wholesale, and food & beverage companies [5] - The company aims to improve efficiency, speed, and resilience in warehouse operations, ultimately accelerating return on investment for its customers [4] Technological Features - The innovative storage design allows for modular shelf configurations that accommodate a wider range of products while boosting storage density [8] - Enhanced safety features include integrated fire suppression and structural options to meet seismic requirements, ensuring operational reliability [8] - The unique leveling system reduces site readiness costs by minimizing floor preparation, facilitating quicker deployment [8]

Core Viewpoint - Symbotic Inc. is set to report its third-quarter fiscal 2025 results on August 6, with expectations of revenue growth and earnings improvement compared to the previous year [1][8]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for revenues in the upcoming quarter is $535.6 million, reflecting an 8.9% year-over-year growth [2]. - The consensus estimate for total earnings is 4 cents per share, indicating a more than 100% increase from the same quarter last year [2]. Earnings Surprise History - Symbotic's earnings surprise history shows mixed results, with two beats and two misses in the last four quarters, averaging a negative surprise of 72.1% [3]. Backlog and Revenue Drivers - The company reported a backlog of $22.7 billion in the second quarter of 2025, with expectations to recognize nearly 11% of its remaining performance obligations as revenue in the next 12 months [6]. - The backlog is anticipated to drive revenue growth, supported by improved deployment efficiency, which increased by 30% year-over-year [14]. Stock Performance - SYM shares have increased by 121.5% over the past year, outperforming the industry average of 71.2% and the S&P 500's 20.8% rise [7][8]. - Despite the strong performance, SYM trades at a premium with a trailing price-to-earnings ratio of 108.64X, significantly higher than the industry average of 22.9X [11]. Financial Health - The company generated $249 million in free cash flow in the second quarter of 2025, aided by favorable changes in net working capital [15]. - SYM's current ratio stands at 1.02, indicating the ability to cover short-term obligations, although it is lower than the industry average of 1.84 [16]. Customer Concentration and Risks - A significant portion of SYM's revenue, 87%, comes from its partnership with Walmart, raising concerns about customer concentration risks [16]. - The company does not pay dividends, which may deter income-focused investors [16]. Future Outlook - The high backlog and improved deployment efficiency position Symbotic for substantial revenue generation in the near future, with expectations for margin expansion [17]. - However, the stock's high valuation and lower chances of an earnings beat suggest a cautious approach for investors [18].

Core Insights - JBT Marel (JBTM) and Symbotic Inc. (SYM) are both considered by investors in the Technology Services sector, but JBTM is currently viewed as a better value investment option [1][7] Valuation Metrics - JBTM has a forward P/E ratio of 23.09, while SYM has a significantly higher forward P/E of 216.67 [5] - The PEG ratio for JBTM is 2.08, indicating a more favorable valuation compared to SYM's PEG ratio of 7.22 [5] - JBTM's P/B ratio stands at 1.66, contrasting sharply with SYM's P/B ratio of 69.01, suggesting that JBTM is more undervalued relative to its book value [6] Earnings Outlook - Both companies have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3][7] - Despite the positive earnings outlook for both companies, JBTM's valuation metrics suggest it is the superior value option at this time [7]