Symbotic Inc.
SYM · NASDAQ-GM
Next quarter
Consensus is $0.09 EPS for Jun 2026 across 5 estimates, ranging $0.03 to $0.15.
SYM Mar 2026
- $0.07
- $0.01
- —
- —
- -7.73%
Highlights
- Revenue was $720.838 million, up 22% year over year from $592.121 million; no consensus figures were available for comparison.
- Systems revenue rose 20% to $670.952 million, driven by 77 Systems in Deployment versus 46 a year earlier. Software maintenance and support revenue increased 57% to $12.765 million, while Operation Services revenue rose 49% to $37.121 million.
- Gross profit increased to $160.910 million from $111.842 million, lifting gross margin to 22% from 19%. Systems gross profit was $147.345 million, software maintenance and support gross profit was $9.279 million, and Operation Services gross profit was $4.286 million.
- Operating income was $32.895 million versus an operating loss of $25.805 million, while net income was $55.000 million versus a net loss of $21.174 million. Other income increased to $30.587 million, primarily from fair value adjustments on strategic investments.
- Revenue outside the United States represented 12% of quarterly revenue, compared with 1% a year earlier; total backlog was approximately $22.5 billion as of June 27, 2026, with Walmart and Exol comprising the vast majority.
- The filing provided no forward revenue or margin guidance and no capex figure.
Analysis
No consensus figures were available, so the quarter cannot be judged against an external estimate. Reported revenue of $720.838 million grew 22% year over year, accelerating from the $592.121 million reported in Q3 FY2025 and continuing the sequential increase from $0.63 billion in Q1 FY2026 and $0.68 billion in Q2 FY2026. Systems carried the quarter, contributing $670.952 million, as Systems in Deployment increased to 77 from 46. The smaller recurring and service lines also strengthened: software maintenance and support rose 57% to $12.765 million, and Operation Services rose 49% to $37.121 million. Gross margin expanded to 22% from 19%, helped by project execution, cost discipline, and higher-value customer solutions, although increased tariff expense partly offset the improvement. Operating expenses fell to 18% of revenue from 23%, with no restructuring charge and lower research and development spending offsetting higher SG&A. Net income benefited materially from $30.587 million of other income and included a $9.631 million equity-method loss.
Guidance
Management did not provide forward revenue, gross margin, operating income, earnings, or free cash flow ranges in the supplied filing, and there was no capex guidance. The company did disclose approximately $22.5 billion of backlog as of June 27, 2026, with Walmart and Exol comprising the vast majority, but it did not translate that backlog into a timing or revenue outlook. Management indicated that additional Operation Services contracts are expected as the number of Operational Systems increases, while noting that tariff regulations continue to evolve. The filing also cautioned that period-to-period results may not indicate future performance.
What drove it
- Systems deployment
- Systems revenue reached $670.952 million, supported by 77 Systems in Deployment versus 46 in the prior-year quarter.
- Service expansion
- Software maintenance and support revenue rose to $12.765 million with 56 Operational Systems under contract versus 42, while Operation Services revenue reached $37.121 million.
- Gross margin
- Gross profit increased to $160.910 million and gross margin improved to 22% from 19%.
- Backlog concentration
- Backlog was approximately $22.5 billion, with agreements involving Walmart and Exol comprising the vast majority.
Watch items
- Tariff expense increased and partially offset Systems gross-profit gains as tariff regulations continued to evolve.
- The company recorded $9.631 million of equity-method investment losses in the quarter, compared with $3.776 million a year earlier.
- SG&A increased 18% to $84.235 million as headcount, contractor, infrastructure, and business-transformation costs rose.
- Backlog concentration is high because Walmart and Exol comprise the vast majority of the approximately $22.5 billion backlog.
