Welcome to our dedicated page for Symbotic news (Ticker: $SYM), a resource for investors and traders seeking the latest updates and insights on Symbotic stock.
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Symbotic Inc. (Nasdaq: SYM) reported revenue of $424 million, a net loss of $41 million, and adjusted EBITDA of $22 million for the second quarter of fiscal 2024. The company showed significant improvement from the previous year in terms of revenue, net loss, and adjusted EBITDA. Cash, cash equivalents, and marketable securities also saw an increase, reaching $951 million at the end of the quarter. Symbotic's leadership highlighted advancements in software and hardware that will benefit customers, accelerate deployment times, and increase deployment capacity. The company projects revenue of $450 million to $470 million and adjusted EBITDA of $27 million to $29 million for the third quarter of fiscal 2024.