Symbotic (US:SYM)2026-02-04 21:04Financial Performance - Symbotic reported Q1 FY 2026 revenue of $630 million, a 29% increase year-over-year, and net income of $13 million, compared to a net loss of $17 million in Q1 FY 2025[3]. - Adjusted EBITDA for Q1 FY 2026 reached $67 million, significantly up from $18 million in Q1 FY 2025[3]. - The company achieved a gross profit of $133.4 million in Q1 FY 2026, compared to $81 million in Q1 FY 2025[18]. - Operating income for Q1 FY 2026 was $6.5 million, a turnaround from an operating loss of $22.97 million in Q1 FY 2025[18]. - Net income for the three months ended December 27, 2025, was $13,358,000, compared to a net loss of $8,969,000 for the previous quarter[20]. - Adjusted EBITDA increased to $66,903,000 for the three months ended December 27, 2025, up from $49,440,000 in the prior quarter[20]. - Gross profit for the three months ended December 27, 2025, was $133,424,000, with an adjusted gross profit of $147,247,000, reflecting a gross profit margin of 21.2% and an adjusted gross profit margin of 23.4%[20]. Expenses - Research and development expenses for Q1 FY 2026 were $43 million, down from $43.3 million in Q1 FY 2025[18]. - Selling, general, and administrative expenses increased to $81.2 million in Q1 FY 2026 from $60.7 million in Q1 FY 2025[18]. - Research and development expenses were $43,006,000 for the three months ended December 27, 2025, with adjusted R&D expenses of $29,866,000[20]. - Selling, general, and administrative expenses totaled $81,219,000, with adjusted SG&A expenses of $50,463,000 for the same period[21]. Cash and Assets - Cash and cash equivalents totaled $1.8 billion at the end of Q1 FY 2026, reflecting a $574 million increase from the prior quarter[3]. - Free cash flow for the three months ended December 27, 2025, was $189,488,000, compared to $494,434,000 in the previous quarter[21]. - Total current assets increased to $2,458,202,000 as of December 27, 2025, from $1,884,860,000 as of September 27, 2025[25]. - Total assets reached $2,994,058,000 as of December 27, 2025, compared to $2,395,729,000 at the end of the previous quarter[25]. - Total liabilities increased to $2,033,847,000 as of December 27, 2025, from $1,917,984,000 as of September 27, 2025[25]. - Total stockholders' equity rose to $663,774,000 as of December 27, 2025, compared to $220,193,000 at the end of the previous quarter[25]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $1,821,307 thousand from $1,247,193 thousand, representing a net increase of $574,114 thousand[28]. - The beginning cash balance was $1,247,193 thousand, which shows a significant increase compared to $780,640 thousand in the previous period[28]. - The net increase in cash, cash equivalents, and restricted cash for the period was $574,114 thousand, compared to $466,553 thousand in the prior period[28]. - Cash and cash equivalents alone reached $1,819,102 thousand, up from $1,244,993 thousand in the previous quarter[28]. - Restricted cash remained relatively stable, with a slight increase to $2,205 thousand from $2,200 thousand[28]. Future Outlook - For Q2 FY 2026, Symbotic expects revenue between $650 million and $670 million, and adjusted EBITDA of $70 million to $75 million[5]. - Symbotic's leadership emphasizes strong operational execution and product innovation as key drivers of profitability and growth[4]. - The company is focused on expanding its customer base and enhancing its technology offerings to meet future demand[10].