8-K
filed November 21, 2022, 6:59 PM ET
ticker SYM
CIK 0001837240
earnings
confidence high
sentiment neutral
materiality 0.85
Symbotic Q4 revenue $244M, 167% growth; CEO Rick Cohen replaces Loparco
Symbotic Inc.
2022-FY EPS reported
-$0.13
revenue$593,312,000
- Q4 revenue $244.4M (167% YoY); net loss $53.3M; adjusted EBITDA loss $20.4M.
- Full FY2022 revenue $593.3M (136% YoY); net loss $139.1M; adj. EBITDA loss $89.8M.
- Rick Cohen (Chairman/President) appointed CEO effective Nov 19; Michael Loparco resigned as CEO/director.
- Loparco receives $1.05M severance, $700K target bonus, $200K advisory fees; non-compete through Jan 2024.
- Q1 FY2023 guidance: revenue $170M-$200M; adj. EBITDA loss $21M-$25M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Symbotic Inc. reported the fiscal year ended September 24, 2022 results: revenue $593.3 million, net income $139.1 million.
- Period
- the fiscal year ended September 24, 2022
- Revenue
- $593.3 million
- Net income
- $139.1 million
- Result
- reported results
Exact text from the filing
For the full fiscal year 2022, Symbotic reported revenue of $593.3 million, reflecting 136% growth year over year, a loss of $139.1 million, and an adjusted EBITDA loss 1 of $89.8 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Symbotic Inc. reported the first quarter of fiscal 2023 results: revenue $170 million to $200 million. Guidance initiated.
- Period
- the first quarter of fiscal 2023
- Revenue
- $170 million to $200 million
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
For our first quarter of fiscal 2023, we expect revenue of $170 million to $200 million, more than double our first quarter fiscal 2022 revenue. We also expect an adjusted EBITDA 2 loss of $21 million to $25 million reflecting reduced system cost, offset by continued investments in innovation and scaling of our business.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Symbotic Inc. reported the fourth quarter of fiscal 2022 results: revenue $244.4 million, net income $53.3 million.
- Period
- the fourth quarter of fiscal 2022
- Revenue
- $244.4 million
- Net income
- $53.3 million
- Result
- reported results
Exact text from the filing
Symbotic posted revenue of $244.4 million, a net loss of $53.3 million and an adjusted EBITDA loss 1 of $20.4 million for the fourth quarter of fiscal 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard Cohen was appointed as Chief Executive Officer at Symbotic Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
On November 19, 2022, the board of directors (the “Board”) of Symbotic Inc. (the “Company”) appointed Richard Cohen, the Company’s current Chairman of the Board and President, as the Chief Executive Officer of the Company, effective as of November 19, 2022 (the “Effective Date”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael J. Loparco resigned as Chief Executive Officer at Symbotic Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
In connection with Mr. Cohen’s appointment, Michael J. Loparco, the Chief Executive Officer of the Company resigned from his positions as Chief Executive Officer and a member of the Board effective as of the Effective Date.
View on SEC.gov
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