Symbotic Inc

SYM

Equity

ISIN US87151X1019 / Valor 119574425

NASDAQ (2024-12-24)

USD 24.55-3.84%

Symbotic Inc
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About company

Symbotic Inc. is a robotics and automation company that was founded by Rick Cohen to address the needs of the wholesale grocery business. The company's A.I.-powered robots autonomously navigate large structures at high speeds, revolutionizing the supply chain for retail, wholesale, and food & beverage brands. Headquartered in Massachusetts, Symbotic has operational sites across North America and is listed on the Nasdaq, providing the resources needed to grow and scale the business. With a focus on innovation and meeting the growing demand for their solutions, Symbotic is redefining the future of robotic automation in the industry.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Symbotic Inc. reported revenue of $424 million for the second quarter of fiscal year 2024, which ended on March 30, 2024. This represents a significant increase from the $267 million in revenue reported for the same quarter in fiscal year 2023.

Net Loss Reduction

For the second quarter of fiscal year 2024, Symbotic Inc. posted a net loss of $41 million. This is an improvement compared to the net loss of $55 million reported in the second quarter of fiscal year 2023.

Adjusted EBITDA

Symbotic Inc. achieved an adjusted EBITDA of $22 million in the second quarter of fiscal year 2024. This is a notable turnaround from the adjusted EBITDA loss of $11 million in the same quarter of the previous fiscal year.

Cash Reserves

As of the end of the second quarter of fiscal year 2024, Symbotic Inc. had cash, cash equivalents, and marketable securities totaling $951 million. This marks an increase of $276 million from the prior quarter.

Future Outlook

Looking ahead to the third quarter of fiscal year 2024, Symbotic Inc. expects revenue to be in the range of $450 million to $470 million. The company also anticipates adjusted EBITDA to be between $27 million and $29 million.

Summarized from source with an LLMView Source

Key figures

-54.7%1Y

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Performance

82.4%1Y

95.1%3Y

95.1%5Y

Volatility