Symbotic (SYM) Q2 2026 earnings summary

Executive summary

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

• Cash and cash equivalents rose to $2.0 billion at quarter-end, up from $1.8 billion sequentially, 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.

• Completed the acquisition of Walmart's Advanced Systems & Robotics business, expanding product offerings and e-commerce capabilities.

• AI-powered automation platform and business model focused on recurring revenue from advanced systems, software, and services.

Financial highlights

• Q2 FY2026 revenue was $676.5 million, up from $549.7 million year-over-year, with gross profit of $150 million (22% margin) and adjusted gross profit margin of 24.5%.

• Adjusted EBITDA for Q2 FY2026 was $78 million, more than double the prior year, and free cash flow for the quarter was $218 million.

• Operating income was $6.1 million, compared to a loss of $20.5 million in Q2 FY2025.

• Stock-based compensation expense increased to $51.4 million for the quarter.

• Ended the quarter with $2 billion in cash and cash equivalents, up from $1.8 billion in Q1.

Outlook and guidance

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

• Sequential and year-over-year growth anticipated for Q4, with guidance to be provided in future updates.

• 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.