Symbotic Q3 revenue $492M, net loss $14M; guides Q4 rev $455-475M, adj. EBITDA $28-32M

Symbotic Inc.

2024-Q3 EPS reported -$0.12 revenue$1,284,613,000

Revenue $492M vs $312M YoY; net loss $14M ($39M loss YoY); adjusted EBITDA $15M (vs -$3M).
System gross margin fell below expectations due to elongated construction schedules and implementation costs.
Cash and equivalents $870M, down $81M from prior quarter; 39 systems in deployment.
Started 5 system deployments, completed 3 in Q3; Q4 revenue guidance $455-475M, adjusted EBITDA $28-32M.
Advanced development of new minibot for BreakPack and enhanced SymBot sensor array.

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