Symbotic (SYM) Q1 2026 earnings summary

Executive summary

• Revenue grew 29% year-over-year in Q1 2026 to $630 million, with net income of $13.36 million, reflecting margin expansion and transition to GAAP profitability, driven by operational execution, product innovation, and new contracts with major customers like Walmart and Exol.

• Adjusted EBITDA reached $67 million, up from $18 million a year ago, with strong execution in e-commerce and record results from paid development programs.

• Major acquisitions included Fox Robotics and Walmart's ASR business, expanding autonomous solutions and product offerings.

• SymBots processed over two billion cases and logged nearly 200 million miles in 2025.

• AI-powered automation platform addresses labor pressures, omni-channel strategies, and SKU proliferation in supply chain operations.

Financial highlights

• Q1 2026 revenue was $630 million, up from $487 million in Q1 2025, with gross profit of $133 million and adjusted gross profit margin of 23.4%.

• Achieved GAAP net income of $13 million, reversing a $17 million loss year-over-year.

• Adjusted EBITDA was $67 million, with double-digit EBITDA margin for the first time.

• Free cash flow for Q1 was $189 million; positive free cash flow of $787.9 million for the year ended September 27, 2025.

• Cash and equivalents rose to $1.82 billion, aided by a $424 million follow-on offering.

Outlook and guidance

• Q2 2026 revenue expected between $650 million and $670 million; Adjusted EBITDA between $70 million and $75 million.

• Sequential growth in Q3 expected to mirror Q2, with more pronounced growth in Q4.

• Backlog stood at $22.3 billion, with the majority from Walmart and Exol contracts.

• Approximately 13% of remaining performance obligations are expected to be recognized as revenue in the next 12 months, and 62% within the following 13 to 60 months.

• Long-term contracts (typically 15 years) create stable, recurring revenue streams.