Strong Revenue Growth
Symbotic's revenue grew by 40% year-over-year, reaching $550 million for the second quarter, driven by solid progress across 46 systems and team deployments.
Improved Gross Margins
Gross margins expanded significantly due to improved project execution and a more streamlined workflow, delivering high-quality deployments.
Reduced Net Loss
Net loss was reduced to $21 million in the second quarter, down from $55 million in the same period of fiscal 2024.
Record System Deployments
Symbotic began a record 10 new system deployments and completed 8 systems in the quarter, doubling their previous record.
Strong Backlog
Symbotic reported a backlog of $22.7 billion, up from $22.4 billion in the previous quarter.
Operational Improvements
Installation to acceptance timelines for Phase 1 systems improved by two months, and these systems were 15% larger than historical averages.
Increased Software and Services Revenue
Software revenue grew by over 160% year-over-year, and operations services revenue grew 47% year-over-year.
New Leadership Hires
Symbotic added new talent, including Brian Alexander as Senior Vice President Commercial and Ashfaque Chowdhury as CEO of GreenBox.
Cash Position
Symbotic ended the quarter with $955 million in cash and equivalents, an increase from $903 million in the first quarter.