Symbotic reports Q2 FY2022 revenue of $96.3M, up 315% YoY; net loss $29.9M

Symbotic Inc.

Revenue $96.3M, up 315% from $23.2M in prior-year quarter; record quarterly gross profit.
Net loss of $29.9M vs $26.9M loss; adjusted EBITDA -$26.2M, essentially flat YoY.
New CEO Michael Loparco appointed; adds experience in scaling large-scale operations.
Business combination with SVF Investment Corp. 3 (SVFC) expected; S-4 effective May 9, 2022.
Operating expenses higher due to non-recurring public company preparation costs.

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