Symbotic (US:SYM)2025-05-07 20:03Financial Performance - Symbotic reported Q2 FY2025 revenue of $550 million, a 40% increase year-over-year from $393 million in Q2 FY2024[3][4] - The company experienced a net loss of $21 million in Q2 FY2025, an improvement from a net loss of $55 million in the same quarter last year[3][4] - Adjusted EBITDA for Q2 FY2025 was $35 million, up from $9 million in Q2 FY2024[3][4] - Total revenue for the three months ended March 29, 2025, was $549,651,000, an increase of 12.9% compared to $486,693,000 for the same period in 2024[18] - Gross profit for the three months ended March 29, 2025, was $107,828,000, representing a gross profit margin of 19.6%, up from 16.4% in the same period last year[20] - Operating loss for the three months ended March 29, 2025, was $(32,059,000), compared to $(24,629,000) for the same period in 2024[18] - Adjusted EBITDA for the three months ended March 29, 2025, was $34,718,000, compared to $17,904,000 for the same period in 2024[20] - The company reported a net loss of $(21,438,000) for the three months ended March 29, 2025, compared to $(18,520,000) for the same period in 2024[20] - The net loss for the three months ended March 29, 2025, was $21,438 thousand, compared to a net loss of $18,520 thousand for the same period in 2024, representing an increase of approximately 10.0%[27] Cash Flow and Liquidity - Cash and cash equivalents increased by $52 million to $955 million at the end of Q2 FY2025[3] - Cash and cash equivalents increased to $954,944,000 as of March 29, 2025, from $727,310,000 as of September 28, 2024[25] - Cash flows from operating activities provided $269,575 thousand for the three months ended March 29, 2025, up from $205,027 thousand in the same period of 2024, indicating a growth of about 31.4%[27] - Cash, cash equivalents, and restricted cash at the end of the period totaled $958,002 thousand, an increase from $906,086 thousand at the end of the previous period, marking a rise of about 5.7%[28] Investments and Expenditures - The company incurred capital expenditures of $20,560 thousand for the three months ended March 29, 2025, compared to $7,357 thousand in the same period of 2024, representing an increase of approximately 179.5%[27] - The company reported a net cash used in investing activities of $220,560 thousand for the three months ended March 29, 2025, compared to $25,349 thousand in the same period of 2024, indicating a significant increase in investment activities[27] Future Outlook - For Q3 FY2025, Symbotic expects revenue between $520 million and $540 million, with adjusted EBITDA projected at $26 million to $30 million[5] - Symbotic's Chairman emphasized improved execution and expanded margins, positioning the company for future growth[4] - The company is focused on investing in innovation to support future growth[4] - The company continues to pursue strategic acquisitions and partnerships to enhance its technology and market position[10][12] - Symbotic is not providing guidance for net loss due to the inability to reconcile forward-looking adjusted EBITDA to net loss without unreasonable effort[5][7] Shareholder Information - Class A Common Shares issued and outstanding increased to 108,380,772 as of March 29, 2025, from 104,689,377 as of September 28, 2024[23] Deferred Revenue and Liabilities - Deferred revenue increased significantly to $230,283 thousand for the three months ended March 29, 2025, compared to $58,336 thousand in the same period of 2024, showing a growth of approximately 295.5%[27] - Total liabilities as of March 29, 2025, were $1,542,611,000, compared to $1,188,422,000 as of September 28, 2024[25] Other Financial Metrics - Free cash flow for the three months ended March 29, 2025, was $249,015,000, an increase from $197,670,000 in the same period last year[21] - The company reported stock-based compensation of $43,355 thousand for the three months ended March 29, 2025, compared to $26,773 thousand in the same period of 2024, reflecting an increase of approximately 62.0%[27] - The company reported a gain from strategic investment fair value adjustment of $(4,481) thousand for the three months ended March 29, 2025, compared to no such gain in the same period of 2024[27] - The company’s accounts receivable decreased by $3,195 thousand for the three months ended March 29, 2025, compared to an increase of $67,376 thousand in the same period of 2024, indicating a shift in cash flow management[27]