Symbotic (SYM) Q4 2025 earnings summary

Executive summary

• Fiscal year 2025 revenue grew 26% year-over-year to $2,247 million, with significant margin expansion, positive free cash flow, and a cash balance exceeding $1.2 billion at year-end.

• AI-powered automation platform and long-term contracts with blue-chip customers underpin recurring revenue and visible growth, supported by a $22.5 billion backlog.

• Expanded product portfolio with micro-fulfillment and next-gen storage, targeting e-commerce and healthcare, with Medline signed as the first healthcare customer.

• Achieved operational improvements, reducing installation and acceptance times, and nearly doubling operational systems year-over-year to 48.

• Cash and cash equivalents increased by $467 million sequentially, totaling $1,245 million at FY25 year-end.

Financial highlights

• FY25 revenue reached $2,247 million, up from $1,788 million in FY24; Q4 revenue was $618 million, up 10% year-over-year.

• Adjusted EBITDA for FY25 was $147 million, up from $(90) million in FY24; Q4 adjusted EBITDA was $49 million.

• Free cash flow for FY25 was $788 million, compared to negative $102 million in FY24.

• Gross profit for FY25 was $423 million, with adjusted gross margin at 21.0%, up from 16.9% in FY24.

• Backlog stood at $22.5 billion, up from $22.4 billion last quarter, with Medline contributing to the increase.

Outlook and guidance

• Q1 FY26 revenue expected between $610 million and $630 million, with adjusted EBITDA guidance of $49 million to $53 million.

• Revenue growth in the first half of FY26 will be less pronounced, with acceleration expected in the second half as next-gen systems ramp.

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

• Backlog delivery expected to reach 12% over the next 12 months, up from 10% previously.

• Fiscal 2026 is starting in line with prior expectations as customers transition to next-generation storage.