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Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced that its financial results for Q1 2023 will be released on May 10, 2023, after market close. A conference call for analysts and investors is scheduled at 4:30 p.m. ET to discuss these results. Sarcos focuses on designing and manufacturing advanced robotic systems intended to enhance workforce safety and productivity in challenging environments. Their offerings include teleoperated systems and powered exoskeletons aimed at improving operational efficiency. For further information, interested parties can access the conference call via pre-registration, and an archived webcast will be available on Sarcos' investor relations website.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC, STRCW) has announced a collaboration with Jabil Inc. to enhance its production capacity for advanced robotic systems. This partnership will enable Sarcos to leverage Jabil’s extensive manufacturing services and global supply chain capabilities, significantly accelerating production of its robotic systems, including the Guardian® XT™ and Guardian® XM models. The collaboration will involve manufacturing across Sarcos' Salt Lake City and Pittsburgh facilities, along with Jabil’s site in San Jose, California. Sarcos anticipates increased production of its commercial robotics technologies throughout 2023.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC, STRCW) reported strong financial results for Q4 and full-year 2022. Q4 revenue reached $6.1 million, significantly up from $1.0 million in Q4 2021, driven by product development contracts. Full-year revenue increased to $14.6 million from $5.1 million in 2021. However, total operating expenses rose to $101.3 million in Q4, mainly due to a $70.2 million goodwill impairment. The net loss for Q4 was $92.3 million or ($0.61) per share, worsening from ($0.25) per share in Q4 2021. For 2023, Sarcos projects revenue between $23 million and $25 million.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) has completed the final validation of its Outdoor Autonomous Manipulation of Photovoltaic Panels (O-AMPP) project, in collaboration with industry leaders like Mortenson, JLG Industries, Array Technologies, and Pratt Miller. This milestone is essential for the commercialization of their robotic solar field construction solution, aimed at enhancing safety and efficiency in solar projects. The solar industry anticipates a significant workforce increase to meet rising demands, and Sarcos’ system could address labor shortages while improving project timelines and quality.
