Symbotic (SYM) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 system deployments and system starts, driving a 55% year-over-year revenue increase to $1.82B and more than doubling operational sites and software revenue for the full year.

• Q4 2024 revenue reached $577M, up from $392M in Q4 2023; net income was $28M versus a $45M net loss last year.

• Expanded into Mexico with Walmex, executing on all five growth vectors: customer penetration, new verticals, new products, and new geographies.

• GreenBox initiative advanced with a second site in Georgia, focusing on multi-tenant solutions and customer pipeline development.

• Vision technology added to robots, enabling remote control and improved reliability, seen as a key differentiator.

Financial highlights

• Q4 revenue reached $577 million, contributing to $1.8 billion in full-year revenue.

• Q4 gross profit was $109M, with an adjusted gross profit margin of 19.6%, up from 15.0% a year ago.

• Operating income for Q4 was $23M, compared to a $54M loss in Q4 2023.

• Software maintenance and support gross margin exceeded 50% for the quarter.

• Cash and equivalents ended at $727 million, down from $870 million in Q3 due to timing of cash receipts.

Outlook and guidance

• Q1 FY25 revenue expected between $495 million and $515 million, with adjusted EBITDA of $27–31 million.

• Guidance reflects continued strong year-over-year growth, stable gross margins, and increased OpEx for innovation and scaling.

• Expectation for high revenue growth rate and gross margin stabilization to continue.