Symbotic Q3 Earnings Call Highlights

Strong third-quarter performance: Symbotic’s fiscal Q3 2026 revenue rose 22% year over year to $721 million, while GAAP net income reached $55 million and adjusted EBITDA more than doubled to $95 million. Deployment and product expansion continued: The company began 11 new system deployments, increased operational systems to 56 and expanded Walmart initiatives, including BreakPack and a next-generation SymMicro installation. Positive near-term outlook: Symbotic forecast fiscal Q4 revenue of $760 million to $780 million and adjusted EBITDA of $100 million to $105 million, while pursuing growth through acquisitions, new software offerings and automation for perishable goods.

Symbotic’s Earnings Beat Reignites Upside Talk Symbotic NASDAQ: SYM reported fiscal third-quarter 2026 revenue of $721 million, up 22% from a year earlier and 7% sequentially, as the warehouse automation company expanded system deployments and grew recurring revenue from operational systems. GAAP net income was $55 million, compared with a net loss of $21 million in the fiscal third quarter of 2025. Adjusted EBITDA more than doubled year over year to $95 million, exceeding the company’s forecast range. Chief Financial Officer Izzy Martins said the result reflected expanding margins, project execution, cost discipline, benefits from scale and operating leverage. “We delivered strong third quarter results, highlighted by continued revenue growth and expanding margins,” Founder, Chairman and CEO Rick Cohen said. He said the company remained on track to meet the objectives it established at the start of the fiscal year, including broadening customer opportunities, improving profitability and investing in product development.

Symbotic started 11 new system deployments during the quarter, including a second site for Southern Glazer’s Wine & Spirits, bringing total systems in deployment to 77 at quarter-end. The company also brought four systems into operation, increasing its total operational systems to 56. Systems revenue rose 20% year over year and 6% sequentially to $671 million. Software revenue increased 57% to $13 million, while operations services revenue rose 49% to $37 million. Southern Glazer’s signed for its second facility following the performance of its first site, Cohen said. The second project will not use Symbotic’s newest storage structure because the design process was already underway and the beverage distributor’s more standardized case sizes made the older structure suitable, according to Cohen. He said later Southern Glazer’s sites could use the newer structure.

The company ended the quarter with backlog of $22.5 billion, slightly below the prior quarter. Martins said the change primarily reflected revenue recognized during the quarter, pricing adjustments for projects begun in the period and the addition of the Southern Glazer’s site. The backlog does not include the potential contract for 400 back-of-store systems with Walmart, she said. Cash and cash equivalents were $1.7 billion at quarter-end, down from $2 billion in the prior quarter. Martins attributed the decrease primarily to the timing of cash receipts associated with project starts and cash use for project activity. She said the company expects positive free cash flow in the fiscal fourth quarter and on an annual basis.

Cohen said Symbotic’s BreakPack product, designed to handle individual items, has begun deployment at half of Walmart’s regional distribution centers. The company also started...