SYMBOTIC INC Stock Price, News & Analysis

Symbotic Inc. (Nasdaq: SYM) reported outstanding results for Q1 fiscal 2023, achieving 168% revenue growth year-over-year, totaling $206.3 million. Despite a net loss of $68 million and an adjusted EBITDA loss of $16.3 million, the company initiated a record six system deployments and saw its backlog rise to $12 billion. The outlook for Q2 includes projected revenue between $205 million and $230 million, signaling strong growth potential. Cash and equivalents increased to $447.5 million, ensuring a solid foundation for future expansion.

Symbotic Inc. (Nasdaq: SYM) reported significant financial results for Q1 of fiscal 2023, achieving 168% year-over-year revenue growth, with revenue reaching $206.3 million compared to $77.1 million in Q1 fiscal 2022. The company recorded a net loss of $68.0 million and an adjusted EBITDA loss of $16.3 million. Notably, Symbotic's backlog increased to $12 billion, reflecting strong demand for its A.I.-enabled robotics solutions. The company initiated six system deployments and improved gross margins while sequentially reducing operating expenses. Looking ahead, revenue forecasts for Q2 fiscal 2023 are expected between $205 million and $230 million.

Symbotic Inc. (Nasdaq: SYM) has announced it will release its Q1 2023 financial results after the market close on January 30, 2023. A live webcast will follow at 5:00 p.m. ET, where management will discuss the results. The webcast registration is available online, with a replay accessible on the company's Investor Relations website. Symbotic specializes in A.I.-enabled robotics technology for supply chains, aiming to enhance efficiency and accuracy in warehouses. The upcoming financial release and senior management discussion are crucial for investors looking to understand the company's performance and future outlook.

WeWork Inc. (NYSE: WE) announced the appointment of Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers, to its Board of Directors, effective November 30, 2022. Mr. Parekh brings extensive experience in enterprise software and emerging technologies, having previously worked in private equity at KKR and consulting at Boston Consulting Group. This addition aims to enhance WeWork's strategic direction as the company continues its recovery and adapts to post-pandemic workplace needs. WeWork positions itself as a leader in flexible workspace solutions.

Symbotic Inc. (SYM) is set to release its fourth quarter and fiscal year 2022 financial results on November 21, 2022, after market close. A live webcast will take place at 5:00 p.m. ET on the same day to discuss these results. The investor relations website will host the press release and provide access to the webcast replay afterward. Symbotic is known for its A.I.-powered robotics technology that enhances supply chain efficiency for major retail and food & beverage companies, aiming to transform warehouse operations.

United Natural Foods (NYSE: UNFI) and Symbotic (NASDAQ: SYM) have entered a commercial agreement to integrate Symbotic’s A.I.-powered automation technology in five UNFI distribution centers over the next four years. This initiative aims to enhance efficiency, improve order accuracy, and expand storage capacity, positioning UNFI for future growth. The system will facilitate customer-specific orders and improve operational safety. UNFI’s Chief Supply Chain Officer believes this integration will elevate their supply chain performance.

Symbotic Inc. (Nasdaq: SYM) announced Q3 fiscal 2022 results, reporting a record revenue of $175.6 million, up from $131.5 million in the same quarter of 2021. Despite a net loss of $32.9 million, the company expanded its backlog to $11.3 billion and deployed 13 systems, up from four year-over-year. The company expects annual revenue of $490 million to $510 million for fiscal 2022, nearly doubling last year's figures, and adjusted EBITDA loss guidance of $94 million to $90 million. Symbotic ended the quarter with $412 million in cash and no debt.

Symbotic Inc. (NASDAQ: SYM) will announce its Q3 2022 financial results on August 1, 2022, after market close. This event will be followed by a live webcast at 5:00 p.m. ET, where senior management will discuss the results. The press release and webcast details can be found on the Symbotic Investor Relations website. Known for its A.I.-enabled robotic technology, Symbotic is transforming the supply chain for top retail and wholesale companies, enhancing efficiency and accuracy in distribution.

Paperless Parts has appointed Jim Baum and Ross Biestman to its Board of Directors, alongside Christina Luconi as an advisor. These leaders bring extensive experience in vertical SaaS and operational excellence. Baum, known for growing PTC from $10M to over $1B, emphasizes the need for tailored software solutions in the manufacturing sector. Biestman highlights the opportunity to address unmet needs in the industry. Paperless Parts has seen significant growth, with a 107% increase in its customer base year-over-year. CEO Jason Ray expresses confidence in the new board's impact.