Symbotic Reports First Quarter Fiscal Year 2024 Results

February 5, 2024

https://www.globenewswire.com/news-release/2024/02/05/2823838/0/en/Symbotic-Reports-First-Quarter-Fiscal-Year-2024-Results.html

WILMINGTON, Mass., Feb. 05, 2024 (GLOBE NEWSWIRE) — Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, announced financial results for its first fiscal quarter of 2024 ending December 30, 2023. Symbotic posted revenue of $369 million, a net loss of $13 million and adjusted EBITDA1 of $14 million for the first quarter of fiscal 2024. In the same quarter of fiscal 2023, Symbotic had revenue of $206 million, a net loss of $68 million and an adjusted EBITDA loss1 of $16 million. Cash, cash equivalents, restricted cash and marketable securities on hand increased by $129 million from the prior quarter to $677 million at the end of the first quarter.

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