Symbotic Reports Fiscal Year 2022 First Quarter Results
Retrieved on:
Tuesday, March 1, 2022
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Symbotic LLC, a revolutionary A.I.-enabled technology platform for the supply chain, today announced financial results for its parent entity, Warehouse Technologies LLC, and subsidiaries (collectively referred to as Symbotic) for the first quarter of fiscal 2022, ended December 25, 2021.
Key Points:
- Symbotic LLC, a revolutionary A.I.-enabled technology platform for the supply chain, today announced financial results for its parent entity, Warehouse Technologies LLC, and subsidiaries (collectively referred to as Symbotic) for the first quarter of fiscal 2022, ended December 25, 2021.
- Symbotic posted revenue of $77.1 million, adjusted EBITDA of $(21.3) million and a quarterly net income of $(23.1) million for the first quarter of fiscal 2022.
- We are excited to end the first quarter of fiscal 2022 with a contracted backlog of $5.3 billion, providing clear visibility towards our future growth.
- Gross margin in the fiscal 2022 first quarter increased to 18.8%, up from (10.2)% in the same period of fiscal 2021, driven by our transition to the deployment of production systems from prototype deployments, said Tom Ernst, Symbotics CFO.