Symbotic Inc. reported significant financial performance in its latest quarterly filing, with total revenue reaching $592.1 million for the three months ended June 28, 2025, a 26% increase from $470.3 million in the same period last year. For the nine months, revenue rose to $1.63 billion, up 33% from $1.22 billion. The growth was primarily driven by a 24% increase in systems revenue, attributed to a higher number of systems in deployment, and a notable rise in software maintenance and support revenue, which surged by 129% year-over-year.
Despite the revenue growth, Symbotic reported a net loss of $31.9 million for the quarter, slightly higher than the $26.7 million loss in the prior year. The nine-month net loss also improved to $71.9 million from $100.6 million. The company incurred restructuring charges of $16.4 million, primarily related to workforce reductions following its acquisition of Walmart's Advanced Systems and Robotics business. This acquisition, completed in January 2025 for $200 million, is expected to enhance Symbotic's product offerings and operational capabilities.
Operationally, Symbotic's customer base expanded, with 46 systems deployed during the latest quarter compared to 39 in the same quarter last year. The company also reported an increase in operational systems under maintenance contracts, which rose to 42 from 21 year-over-year. The total cash and cash equivalents as of June 28, 2025, stood at $777.6 million, reflecting a solid liquidity position to support ongoing operations and strategic initiatives.
Looking ahead, Symbotic anticipates continued growth driven by its strategic partnerships and the implementation of its automation systems across various distribution centers, particularly under the Master Automation Agreement with Walmart. The company expects to recognize approximately 11% of its remaining performance obligations as revenue in the next 12 months, with a substantial portion tied to ongoing projects. However, management has acknowledged material weaknesses in internal controls over financial reporting, which they are actively working to remediate.
About Symbotic Inc.
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