Robotics firm Symbotic beats Q1 revenue estimates

Overview

• AI robotics firm's fiscal Q1 revenue rose 29% yr/yr, beating analyst expectations

• Adjusted EBITDA for fiscal Q1 rose significantly to $67 mln

• Company's net income reached $13 mln, compared to a net loss last year

Outlook

• Symbotic expects Q2 fiscal 2026 revenue of $650 mln to $670 mln

• Company anticipates Q2 fiscal 2026 adjusted EBITDA of $70 mln to $75 mln

• Symbotic sees solid growth profile supported by rising deployments

Result Drivers

• OPERATIONAL EXECUTION - CEO Rick Cohen attributed strong start to fiscal year to effective operational execution and product innovation

• STRONGER MARGINS - CFO Izzy Martins noted profitability exceeded expectations due to stronger margins

• CASH INCREASE - Cash and cash equivalents rose by $574 mln, including $424 mln from a follow-on offering

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 11 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

• Wall Street's median 12-month price target for Symbotic Inc is $63.00, about 12.3% above its February 3 closing price of $56.12

• The stock recently traded at 75 times the next 12-month earnings vs. a P/E of 130 three months ago

Press Release: ID:nGNX6HXH5N

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.