Symbotic Inc. Files Q4 2024 10-Q Report

Ticker: SYM · Form: 10-Q · Filed: 2025-02-05T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, filing

Related Tickers: SYM

TL;DR

**SYM 10-Q FILED: Check financials for Q4 2024.**

AI Summary

Symbotic Inc. filed its quarterly report for the period ended December 28, 2024. The company is incorporated in Delaware and its principal executive offices are located at 200 Research Drive, Wilmington, MA 01887. Symbotic's Class A common stock trades on The Nasdaq Stock Market LLC under the symbol SYM.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Symbotic Inc. during the specified quarter.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks beyond those typically associated with public companies.

Key Players & Entities

FAQ

What is the commission file number for Symbotic Inc.?

The commission file number for Symbotic Inc. is 001-40175.

What is the par value of Symbotic Inc.'s Class A common stock?

The par value of Symbotic Inc.'s Class A common stock is $0.0001 per share.

Has Symbotic Inc. filed all required reports for the preceding 12 months?

The filing indicates 'Yes' for having filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has Symbotic Inc. submitted and posted Interactive Data Files electronically for the preceding 12 months?

The filing indicates 'No' for having submitted and posted every Interactive Data File required by Rule 405 of Regulation S-T during the preceding 12 months.

What is the IRS Employer Identification Number for Symbotic Inc.?

The IRS Employer Identification Number for Symbotic Inc. is 98-1572401.

Filing Stats: 4,573 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2025-02-05 16:06:17

Key Financial Figures

Filing Documents

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements 1 Unaudited Condensed Consolidated Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of December 28 , 202 4 and September 28 , 202 4 1 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended December 2 8 , 202 4 and December 30 , 202 3 3 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended December 28 , 202 4 and December 30 , 202 3 4 Unaudited Condensed Consolidated Statements of Changes in Equity (Deficit) for the Three Months Ended December 28 , 202 4 and December 30 , 202 3 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 28 , 202 4 and December 30 , 202 3 6 Notes to Unaudited Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 34

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 37

Signatures

Signatures 38 i CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements include, but are not limited to, our expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning our possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," or "intends" or similar expressions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about our ability to, or expectations that Symbotic will: meet the technical requirements of existing or future supply agreements with its customers, including with respect to existing backlog; expand its target customer base and maintain its existing customer base; realize the benefits expected from the acquisition of Walmart's Advanced Systems and Robotics business, the GreenBox joint venture, the Commercial Agreement with GreenBox, Symbotic's acquisitions of developed technology intangible assets, and the commercial agreement with Walmart de Mxico y Centroamrica; realize its outlook, including its system gross margin; anticipate industry trends; maintain and enhance its system; maintain the listing of the Symbotic Class A Common Stock on Nasdaq; execute its growth strategy; develop, design and

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements Symbotic Inc. Unaudited Condensed Consolidated Balance Sheets (in thousands, except share data) December 28, 2024 September 28, 2024 ASSETS Current assets: Cash and cash equivalents $ 903,034 $ 727,310 Accounts receivable 134,391 201,548 Unbilled accounts receivable 223,349 218,233 Inventories 108,691 106,136 Deferred expenses 3,221 1,058 Prepaid expenses and other current assets 85,740 101,252 Total current assets 1,458,426 1,355,537 Property and equipment, net 105,079 97,109 Intangible assets, net 14,949 3,664 Equity method investment 85,946 81,289 Other assets 51,222 40,953 Total assets $ 1,715,622 $ 1,578,552 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 206,324 $ 175,188 Accrued expenses 203,353 165,644 Deferred revenue 787,174 676,314 Total current liabilities 1,196,851 1,017,146 Deferred revenue 76,712 129,233 Other liabilities 48,134 42,043 Total liabilities 1,321,697 1,188,422 Commitments and contingencies (Note 13) — — Equity: Class A Common Stock, 3,000,000,000 shares authorized, 106,521,915 and 104,689,377 shares issued and outstanding at December 28, 2024 and September 28, 2024, respectively 13 13 Class V-1 Common Stock, 1,000,000,000 shares authorized, 76,588,618 and 76,965,386 shares issued and outstanding at December 28, 2024 and September 28, 2024, respectively 7 7 1 Table of Contents Class V-3 Common Stock, 450,000,000 shares authorized, 404,309,196 and 404,309,196 shares issued and outstanding at December 28, 2024 and September 28, 2024, respectively 40 40 Additional paid-in capital 1,526,573 1,523,692 Accumulated deficit ( 1,327,401 ) ( 1,323,925 ) Accumulated other comprehensive loss ( 2,696 ) ( 2,594 ) Total stockholders' equity 196,536 197,233 Noncontrolling interest 197,389 192,897 Total equity 393,925 390,130 Total liabilities and equity $ 1,715,622 $ 1,578,552 The accompanying notes are an integral part of thes

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