Symbotic Inc. reported Q3 FY2024 revenue of $492 million, up from $312 million in Q3 FY2023, while net loss narrowed to $14 million from $39 million YoY. Adjusted EBITDA improved to $15 million compared to a $3 million loss in the prior year. Cash and equivalents stood at $870 million, down $81 million from the previous quarter.The company deployed five new systems and completed three operational systems during the quarter. However, system gross margin fell below expectations due to extended construction schedules and implementation costs. Management is focused on improving planning and project management to enhance performance.For Q4 FY2024, Symbotic expects revenue between $455-475 million and adjusted EBITDA of $28-32 million. The company plans to temporarily slow revenue growth to improve deployment processes, with system costs expected to decline and gross margins projected to return to historical levels.

Symbotic Inc. reported Q3 FY2024 revenue of $492 million, up from $312 million in Q3 FY2023, while net loss narrowed to $14 million from $39 million YoY. Adjusted EBITDA improved to $15 million compared to a $3 million loss in the prior year. Cash and equivalents stood at $870 million, down $81 million from the previous quarter.The company deployed five new systems and completed three operational systems during the quarter. However, system gross margin fell below expectations due to extended construction schedules and implementation costs. Management is focused on improving planning and project management to enhance performance.For Q4 FY2024, Symbotic expects revenue between $455-475 million and adjusted EBITDA of $28-32 million. The company plans to temporarily slow revenue growth to improve deployment processes, with system costs expected to decline and gross margins projected to return to historical levels.