Symbotic Inc. Reports 40% Revenue Growth to $549.7 Million in Latest Quarter

Symbotic Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenue reaching $549.7 million for the three months ended March 29, 2025, a 40% increase from $393.3 million in the same period last year. The company's systems revenue, which constitutes the bulk of its income, surged by 38% to $513.4 million, driven by an increase in deployments under its Master Automation Agreement with Walmart. For the six-month period, total revenue also rose to $1.036 billion, up 38% from $753.3 million year-over-year. Despite these gains, Symbotic recorded a net loss of $21.4 million for the quarter, an improvement from a loss of $54.8 million in the prior year.

The company’s operational metrics reflect a strategic focus on expanding its customer base and enhancing service offerings. As of March 29, 2025, Symbotic had 46 systems in deployment, up from 37 a year earlier, which contributed to the increased revenue. The company also reported a gross profit of $107.8 million for the quarter, compared to $30.2 million in the same period last year, indicating a gross margin improvement driven by higher sales volumes and operational efficiencies. However, operating expenses rose significantly, with research and development costs increasing by 32% to $61.5 million, reflecting ongoing investments in technology and product development.

In terms of strategic developments, Symbotic completed the acquisition of Walmart's Advanced Systems & Robotics business for $200 million in January 2025, which is expected to enhance its capabilities in automating supply chains. This acquisition is anticipated to broaden Symbotic's product offerings beyond traditional warehouse settings into eCommerce and last-mile delivery solutions. The company also entered a joint venture with GreenBox Systems, further expanding its market reach and technological capabilities.

Symbotic's balance sheet showed a strong liquidity position, with cash and cash equivalents increasing to $954.9 million from $727.3 million at the end of the previous fiscal period. The company reported a total of $1.964 billion in assets, up from $1.579 billion, driven by the acquisition of intangible assets and goodwill from the ASR acquisition. The company’s deferred revenue also increased significantly, reflecting strong demand and future revenue potential, with total deferred revenue reaching $1.094 billion.

Looking ahead, Symbotic expects to continue leveraging its strategic partnerships and technological advancements to drive growth. The company anticipates that the ongoing implementation of its systems at Walmart's distribution centers will contribute to sustained revenue growth in the coming quarters. However, it also acknowledged potential risks related to market conditions and operational execution, particularly as it integrates the newly acquired ASR business and scales its operations.