Symbotic (SYM) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 FY2025 was $592 million, up 26% year-over-year, driven by deployment progress and expansion of operational systems.

• Adjusted EBITDA reached $45 million for the quarter, up from $3 million a year ago, and $98 million for the nine months.

• Net loss for Q3 FY2025 was $32 million, compared to $27 million in Q3 FY2024; net loss for the nine months was $13.3 million.

• Gross profit for the quarter was $108 million, with gross margin improving to 18.2% from 11.7% year-over-year.

• Launched a next-generation storage structure, increasing storage density and reducing assembly complexity.

Financial highlights

• Software maintenance and support revenue more than doubled year-over-year to $8.1 million; operation services revenue grew 54% to $25 million.

• System gross margin and adjusted gross profit margin improved significantly, reaching 21.5% for the quarter.

• Cash and equivalents ended at $778 million, down from $955 million last quarter due to timing of cash receipts and negative free cash flow.

• Free cash flow for the nine months was $293.5 million, but negative $153 million for Q3 FY2025.

• CapEx expected to double in coming quarters to support new design investments.

Outlook and guidance

• Q4 FY2025 revenue expected between $590 million–$610 million; adjusted EBITDA guidance of $45 million–$49 million.

• Sequential revenue growth will moderate in Q4 and early 2026 as deployment schedules adjust for the new storage structure.

• Backlog remains strong at $22.4 billion, unaffected by deployment timing adjustments.

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

• New starts expected to return to mid to high single digits as design is commercially available.