NextGen Tech and AI: Symbiotic Provides Strong Q4 Financial Results, Up ~30%
In its fourth quarter, Symbotic (SYM) delivered strong financial results, with revenue beating consensus of $470.2M as it reported Q4 revenue of $577M, reflecting solid progress across the 44 systems in the process of deployment. The company completed a record number of system deployments in the quarter, helping contribute to $1.8Bn in full-year revenue. Symbotic also recorded its first quarter of net income as a public company.
Looking ahead, Symbotic expects to maintain a high rate of year-over-year revenue growth while continuing to stabilize its gross margin in the first quarter of fiscal 2025. The company is guiding for revenue of $495M – $515M and adjusted EBITDA between $27M – $31M in Q1 2025, reflecting continued strong growth, stable gross margins, and an uptick in operating expenses due to investments in innovation and expansion.
Symbotic remains focused on scaling for growth, investing in its innovation engine, and delivering high-quality systems for its customers. The company expects to see a significant rise in completed sites as its deployment process improves and profitability expands throughout the year.
On the conference call management highlighted its gross margins rebounded to historical levels, and the company expects to maintain stable gross margins in Q1 FY25. Additionally, they announced a new customer, Walmex, in Mexico, which represents an opportunity to expand into new geographies and demonstrates the value proposition of Symbotic’s solution in lower-cost regions. The company is making investments in R&D and innovation, including the acquisition of Veil Robotics to enhance the vision and safety capabilities of its robots. The company did not provide specific details on the expansion of its sales force or the financial performance of the GreenBox initiative, which represents a new growth opportunity.
