01—Abstract
Summary
Summary of the 10-Q filed August 5, 2026. Cited figures are marked; the original filing is the authoritative source.
Symbotic Inc. (SYM) reported a quarter ended June 27, 2026 with total revenue of $720.8 milliona for the three months, up from $592.1 million a year earlier, and $2.03 billion for the nine months versus $1.63 billion.
Gross profit rose to $160.9 millionb for the quarter from $111.8 million, and operating income was $32.9 million compared with an operating loss of $25.8 million in the prior-year quarter. Net income was $55.0 million for the quarter, of which $11.7 million was attributable to common stockholders after noncontrolling interests. Management reports Adjusted EBITDA of $95.2 million for the quarter and $239.9 million for the nine months, and free cash flow of $242.8 million for the nine months.
The balance sheet strengthened, with cash and cash equivalents of $1.75 billionc at June 27, 2026, up from $1.24 billion at September 27, 2025, following $424.3 million in net proceeds from a Class A common stock issuance in December 2025. Remaining performance obligations totaled $22.5 billion, substantially all tied to the Walmart Master Automation Agreement and the Exol commercial agreement. Customer A, which the filing identifies as a single customer, accounted for 90.5% of revenue in the quarter.
The filing discloses a continuing material weakness in internal control over financial reporting related to the timing of cost of revenue recognition, and the CEO and CFO concluded disclosure controls were not effective. A targeted recall and component replacement program carried a $34.3 milliond liability recorded in the second quarter of fiscal 2026.
Securities class action litigation (Decker v. Symbotic Inc.) remains pending, with the court granting in part and denying in part the motion to dismiss on July 23, 2026.
02—Key points
Key Highlights
- Total revenue of $720.8 million for the quarter, up from $592.1 million, and $2.03 billion for the nine months, up from $1.63 billion.
- Operating income of $32.9 million for the quarter versus an operating loss of $25.8 million a year earlier; net income of $55.0 million, with $11.7 million attributable to common stockholders.
- Adjusted EBITDA of $95.2 million for the quarter and $239.9 million for the nine months, compared with $45.4 million and $98.0 million in the prior-year periods.
- Cash and cash equivalents of $1.75 billion at June 27, 2026, supported by $424.3 million in net proceeds from a Class A common stock issuance.
- Remaining performance obligations of $22.5 billion, with the vast majority tied to the Walmart Master Automation Agreement and the Exol commercial agreement.
- Customer A accounted for 90.5% of total revenue in the quarter and 82.8% of accounts receivable at June 27, 2026.
- Material weakness in internal control over financial reporting remains unremediated, and disclosure controls were concluded not effective; a $34.3 million targeted recall liability was recorded in fiscal Q2 2026.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q3 FY2026, Symbotic kept $0.02.
- Revenue$720.8M100.0%
- Cost of revenue−$559.9M77.7%
- Gross profit$160.9M22.3%
- Operating costs−$128.0M17.8%
- Operating income$32.9M4.6%
- Interest, other & tax−$21.2M2.9%
- Net income$11.7M1.6%
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed August 5, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $720.84M$592.12M | +21.7% |
| Cost of Revenue | $559.93M$480.28M | +16.6% |
| Gross Profit | $160.91M$111.84M | +43.9% |
| R&D Expenses | $43.78M$49.73M | −12.0% |
| SG&A Expenses | $84.23M$71.56M | +17.7% |
| Operating Expenses | $128.01M$137.65M | −7.0% |
| Operating Income | $32.90M-$25.80M | +227.5% |
| Net Income | $11.67M-$3.92M | +397.6% |
| EPS (Basic) | $0.09$-0.04 | +325.0% |
| EPS (Diluted) | $0.09$-0.04 | +325.0% |
| Shares Outstanding (Basic) | 128.08M109.20M | +17.3% |
| Shares Outstanding (Diluted) | 133.25M109.20M | +22.0% |
05—Questions
Frequently Asked Questions
How did Symbotic's revenue and profitability change in the quarter?
Total revenue rose to $720.8 million from $592.1 million, with Systems revenue of $670.9 million versus $559.1 million. Gross profit increased to $160.9 million from $111.8 million, and the company reported operating income of $32.9 million compared with an operating loss of $25.8 million in the prior-year quarter.
What is the status of the company's liquidity and cash position?
Cash and cash equivalents were $1.75 billion at June 27, 2026, up from $1.24 billion at September 27, 2025. Net cash provided by operating activities was $305.6 million for the nine months, and management expects current cash, working capital and operating cash flows to meet foreseeable cash needs for at least the next 12 months.
How concentrated is the company's customer base?
One customer, Customer A, accounted for 90.5% of total revenue for the three months ended June 27, 2026 and 87.0% for the nine months. The filing notes that a loss of this business relationship could have a material impact on results.
What material weakness and legal matters are disclosed?
The company disclosed a material weakness related to the timing of cost of revenue recognition, which management is remediating. A securities class action (Decker v. Symbotic Inc.) is pending; on July 23, 2026 the court granted in part and denied in part the motion to dismiss, and a scheduling conference is set for August 31, 2026. The company does not expect a material adverse effect on financial condition but says results could be material for a given period.
What is the outlook for the company's backlog and remaining performance obligations?
Remaining performance obligations were $22.5 billion at June 27, 2026. The company expects to recognize approximately 15% within the next 12 months and approximately 62% within the following 13 to 60 months, with the Walmart MAA and Exol agreements comprising the substantial majority.
06—Continue