Q3 2026 Symbotic Inc Earnings Call Transcript

Aug 5, 2026 / 09:00 PM GMT

Release Date Price: €40.19 (-2.29%)

Transcript 10-Q8-K

Key Points

Positve

Revenue grew 22% year-over-year to $671 million, near the high end of guidance, with continued GAAP profitability.
Adjusted EBITDA more than doubled year-over-year to $95 million, exceeding the forecasted range due to expanding margins and operational efficiency.
Gross margin expanded both sequentially and year-over-year, driven by strong project execution, cost discipline, and benefits from scale.
Software revenue grew 57% year-over-year, and operations services revenue grew 49%, reflecting a growing base of operational systems.
Backlog remains strong at $22.5 billion, with new customer wins like Southern Glaziers' second site and continued expansion with Walmart, including the first SimMicro deployment.
Strategic acquisitions (Fox Robotics and Arms Innovations) expand capabilities in dock automation and warehouse optimization, opening new revenue streams.
Innovation pipeline includes deploying over 1,000 larger bots, LiDAR, and advanced batteries, enhancing system performance and efficiency.
Cash balance remains solid at $1.7 billion, supporting future M&A and growth initiatives.

Negative

Cash equivalents decreased from $2 billion to $1.7 billion due to timing of cash receipts and project activity, though CFO expects positive free cash flow next quarter.
Backlog slightly decreased from $22.7 billion to $22.5 billion, reflecting revenue recognition and pricing adjustments, though it remains stable.
The next-generation storage structure's margin inflection is not expected until the second half of next year, delaying potential margin improvements.
SimMicro deployment is still in early stages, with the first prototype installation taking about six months and the store order not expected until early 2028.
R&D expense remained flat quarter-over-quarter, and management expects a slight uptick in OpEx, which could pressure EBITDA margins in the near term.
The Xol Atlanta site is only receiving its first customer, and the Lathrop site is not yet fully operational, indicating slower-than-expected ramp-up.
Revenue per deployment has been declining for four quarters, though management attributes this to the installation cycle and expects revenue to grow.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SYM.OQ - Symbotic Inc
Q3 2026 Symbotic Inc Earnings Call
Aug 05, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to Symbotic Third Quarter Financial Results Conference Call. At this time, all participants are in a work and only mode. After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised.

To withdraw your question, please press when one again.

Please limit your questions to one question and one follow-up.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Charlie Anderson, Vice President of Investor Relations.

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