Symbotic (SYM) Q2 2026 earnings summary

Executive summary

• Revenue grew 23% year-over-year to $676–$676.5 million for Q2 FY2026, with net income of $9 million and adjusted EBITDA more than doubling to $78 million, reflecting strong customer adoption and system deployments.

• Cash and cash equivalents rose to $2.0 billion at quarter-end, with no debt and strong free cash flow generation.

• Backlog reached $22.7 billion, underpinned by long-term contracts with blue-chip customers and robust demand for automation solutions.

• Technology investments included next-generation battery technology, larger bots, and the acquisition of Walmart's Advanced Systems & Robotics business.

• Business model centers on recurring revenue from advanced automation systems, software, and services, addressing labor pressures and supply chain complexity.

Financial highlights

• Q2 FY2026 revenue was $676–$676.5 million, up from $549.7–$550 million year-over-year.

• Adjusted EBITDA for Q2 FY2026 was $77.8–$78 million, more than double the prior year.

• Gross profit for the quarter was $150 million (22% margin), with adjusted gross profit margin at 24.5%.

• Free cash flow for the quarter was $218 million, with $446.7 million for the six months and $787.9 million for the year ended September 27, 2025.

• Cash and cash equivalents increased by $190 million during the quarter, totaling $2.0 billion.

Outlook and guidance

• Q3 FY2026 revenue is expected to be $700–$720 million, with adjusted EBITDA of $80–$85 million.

• Approximately 14% of remaining performance obligations are expected to be recognized as revenue in the next 12 months, with 61% over the following 13–60 months.

• High margin, annual recurring revenue base expected to build over time from software, parts, and services.