NASDAQ$SYM
Symbotic Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Symbotic achieved triple-digit revenue growth, added to its base of outsourcing partners, improved gross margin, and decreased operating expenses sequentially, excluding stock-based compensation.
Symbotic Inc. reported a significant increase in revenue for the first quarter of fiscal year 2023, with a 168% year-over-year growth, reaching $206.3 million. The company's contracted backlog increased to $12 billion. However, the company experienced a net loss of $68.0 million and an adjusted EBITDA loss of $16.3 million.
- Revenue increased by 168% year-over-year.
- A record six system deployments were initiated.
- Contracted backlog increased to $12 billion.
- Cash, cash equivalents and marketable securities increased by $94.1 million from the prior quarter to $447.5 million.
Headline financials
Revenue & EPS history
Symbotic · Revenue · Quarterly
$206M
Revenue by segment
Symbotic · $206M total across 3 segments · Q1 2023
- Systems$198M+177.9%95.9%
- Operation services$7.17M+47.4%3.5%
- Software maintenance and support$1.24M+26.9%0.6%
Forward guidance
For the second quarter of fiscal 2023, Symbotic expects revenue of $205 million to $230 million, more than double the second quarter fiscal 2022 revenue. The company also expects an adjusted EBITDA loss of $13 million to $17 million, compared to a $26.2 million adjusted EBITDA loss in the second quarter of fiscal 2022.
Tailwinds
- Revenue expected to more than double the second quarter fiscal 2022 revenue.
- Initiated a record six system deployments
- Demand for solutions continues to grow
- Optimistic about outlook and poised for continued strong growth
- Adding to base of outsourcing partners
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+5.1%
Avg return
Earnings day
+7.8%
Avg return
5 days after
-1.6%
Avg return
30 days after
60%
12 / 20 earnings
Positive
+40.0%
Q4 2023
Best reaction
-29.8%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -7.9% | -16.1% | -28.1% | |
| Q1 2026 | +0.6% | +17.3% | -9.1% | |
| Q4 2025 | +39.0% | +51.0% | +5.1% | |
| Q3 2025 | +3.8% | -1.2% | -7.7% | |
| Q2 2025 | +5.1% | +18.9% | +32.7% | |
| Q1 2025 | -15.9% | -5.8% | -24.7% | |
| Q4 2024 | +32.3% | +31.5% | -18.7% | |
| Q3 2024 | -29.8% | -38.9% | -48.4% | |
| Q2 2024 | +13.1% | +1.6% | -3.1% | |
| Q1 2024 | -24.9% | -7.4% | -17.3% | |
| Q4 2023 | +40.0% | +38.3% | +37.4% | |
| Q3 2023 | +36.6% | +27.1% | -6.3% | |
| Q2 2023 | -11.9% | +1.8% | +24.2% | |
| Q1 2023 | +13.7% | +10.4% | +16.3% | |
| Q4 2022 | +14.7% | +36.4% | +26.8% | |
| Q3 2022 | -7.0% | -9.4% | -30.4% | |
| Q2 2022 | +0.6% | +0.7% | +17.7% | |
| Q1 2022 | +0.0% | +0.2% | +0.2% | |
| Q3 2021 | -0.2% | +0.1% | +0.5% | |
| Q2 2021 | +0.4% | -0.2% | +0.0% | |
| Q1 2021 | — | — | — |
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