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Symbotic (SYM) - 2025 Q1 - Quarterly Results
SYMSymbotic (SYM)2025-02-05 21:02

Financial Performance - Symbotic reported Q1 fiscal 2025 revenue of 487million,a35487 million, a 35% increase year-over-year from 360 million in Q1 fiscal 2024[3] - The company experienced a net loss of 19millioninQ1fiscal2025,consistentwiththenetlossreportedinQ1fiscal2024[3]−AdjustedEBITDAforQ1fiscal2025was19 million in Q1 fiscal 2025, consistent with the net loss reported in Q1 fiscal 2024[3] - Adjusted EBITDA for Q1 fiscal 2025 was 18 million, up from 8millioninQ1fiscal2024[3]−ForQ2fiscal2025,Symboticexpectsrevenuebetween8 million in Q1 fiscal 2024[3] - For Q2 fiscal 2025, Symbotic expects revenue between 510 million and 530million,withadjustedEBITDAprojectedat530 million, with adjusted EBITDA projected at 26 million to 30million[4]−ForthethreemonthsendedDecember28,2024,Symboticreportedanetlossof30 million[4] - For the three months ended December 28, 2024, Symbotic reported a net loss of 18,520,000 compared to a net income of 15,954,000forthepreviousquarter[21]−AdjustedEBITDAforthesameperiodwas15,954,000 for the previous quarter[21] - Adjusted EBITDA for the same period was 17,904,000, a decrease from 42,380,000inthepriorquarter[21]−Grossprofitforthequarterwas42,380,000 in the prior quarter[21] - Gross profit for the quarter was 80,039,000, with an adjusted gross profit of 86,217,000,resultinginagrossprofitmarginof16.486,217,000, resulting in a gross profit margin of 16.4% and an adjusted gross profit margin of 17.7%[21] Cash Flow and Assets - Cash and cash equivalents increased by 176 million to 903millionattheendofQ1fiscal2025[3]−Thecompanygenerated903 million at the end of Q1 fiscal 2025[3] - The company generated 205,027,000 in net cash from operating activities, a significant increase compared to a cash outflow of 99,383,000inthepreviousquarter[27]−Freecashflowforthequarterwas99,383,000 in the previous quarter[27] - Free cash flow for the quarter was 197,670,000, contrasting with a negative free cash flow of 120,750,000inthepriorquarter[21]−Totalcurrentassetsincreasedto120,750,000 in the prior quarter[21] - Total current assets increased to 1,458,426,000 from 1,355,537,000inthepreviousquarter,drivenbyhighercashandcashequivalents[24]−Cashandcashequivalentsattheendoftheperiodwere1,355,537,000 in the previous quarter, driven by higher cash and cash equivalents[24] - Cash and cash equivalents at the end of the period were 903,034,000, up from 727,310,000attheendofthepreviousquarter[28]−Symbotic′stotalassetsincreasedto727,310,000 at the end of the previous quarter[28] - Symbotic's total assets increased to 1,715,622,000 from 1,578,552,000,reflectinggrowthinbothcurrentandnon−currentassets[24]OperatingExpenses−ResearchanddevelopmentexpensesforQ1fiscal2025were1,578,552,000, reflecting growth in both current and non-current assets[24] Operating Expenses - Research and development expenses for Q1 fiscal 2025 were 43.6 million, compared to 40.1millioninthepreviousquarter[18]−Totaloperatingexpensesincreasedto40.1 million in the previous quarter[18] - Total operating expenses increased to 104.7 million in Q1 fiscal 2025 from 85.5millioninthepreviousquarter[18]StrategicDevelopments−TheacquisitionofWalmart′sAdvancedSystemsandRoboticsbusinesshasbeencompleted,enhancingSymbotic′smarketposition[3]−Thecompanyisdeploying44systems,contributingtoitsrevenuegrowthandoperationalexpansion[3]ShareholderInformation−Thecompanyissued106,521,915ClassAcommonsharesasofDecember28,2024,anincreasefrom104,689,377sharesinthepreviousquarter[23]Liabilities−Totalliabilitiesroseto85.5 million in the previous quarter[18] Strategic Developments - The acquisition of Walmart's Advanced Systems and Robotics business has been completed, enhancing Symbotic's market position[3] - The company is deploying 44 systems, contributing to its revenue growth and operational expansion[3] Shareholder Information - The company issued 106,521,915 Class A common shares as of December 28, 2024, an increase from 104,689,377 shares in the previous quarter[23] Liabilities - Total liabilities rose to 1,321,697,000 from $1,188,422,000, primarily due to an increase in deferred revenue[24]