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Symbotic Inc. - SYM STOCK NEWS

Welcome to our dedicated page for Symbotic news (Ticker: SYM), a resource for investors and traders seeking the latest updates and insights on Symbotic stock.

Symbotic Inc. (NASDAQ: SYM) is a leading automation technology company headquartered in Wilmington, Massachusetts, with additional offices in Montreal, Canada. The company specializes in developing and deploying proprietary robotics and software solutions designed to revolutionize the efficiency of supply chains. Symbotic's technology enhances the speed, accuracy, and profitability of warehouse operations for a diverse range of industries, including retail, wholesale, and food & beverage sectors.

By integrating advanced artificial intelligence and machine learning, Symbotic's automated systems optimize the storage and retrieval of goods, transforming traditional warehouses into strategic assets. The company's Symbotic System™ is capable of building mixed-case pallets, improving fill rates, order accuracy, and customer service times. One of the company's notable clients, Southern Glazer's Wine & Spirits, has leveraged Symbotic's technology to enhance the efficiency and longevity of their distribution centers.

Symbotic's workforce is comprised of top-tier intellectuals, engineers, and multifaceted professionals specializing in mechanical, electrical, and software engineering. The company is committed to continuous innovation and growth, frequently seeking new talents to join their robust team. Interested professionals can explore career opportunities on the company’s website or contact careers@symbotic.com for more information.

Financially, Symbotic has shown strong growth, with significant revenue increases and multiple system deployments in the fiscal year 2024. The company has consistently delivered positive adjusted EBITDA, indicating its financial health and operational efficiency. Symbotic continues to expand its deployment capacity to meet the growing demand for its automation solutions.

As an industry leader, Symbotic is dedicated to transforming supply chain operations through cutting-edge technology, making it a pivotal player in modern logistics and warehouse management. For more information, visit Symbotic's official website.

News

Symbotic Named to Fast Company’s Annual List of the World’s Most Innovative Companies of 2024

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Symbotic Inc. (SYM) has been recognized as one of the World's Most Innovative Companies of 2024 by Fast Company. The company secured the top spot in the Robotics category and ranked 34th overall. Symbotic's cutting-edge robotics technology powered by A.I. is revolutionizing the supply chain industry, enhancing efficiency, speed, and cost-effectiveness.
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Symbotic Announces Pricing of Primary and Secondary Offering of Class A Common Stock

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Symbotic Inc. announces the pricing of a public offering of 10,000,000 shares of its Class A common stock at $40.50 per share, with the company and Selling Securityholders each selling 5,000,000 shares. The underwriters have an option to purchase an additional 1,500,000 shares. The net proceeds will be used for general corporate purposes, with the Selling Securityholders receiving all proceeds from their sales. The offering is expected to close on February 26, 2024.
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Symbotic Announces Primary and Secondary Offering of Class A Common Stock

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Symbotic Inc. (SYM) initiates a public offering of 5,000,000 shares of Class A common stock, with Selling Securityholders offering an additional 5,000,000 shares. The underwriters may have a 30-day option to purchase up to 1,500,000 additional shares. Proceeds will be used for general corporate purposes, with Selling Securityholders receiving net proceeds from their share sales. Goldman Sachs & Co. LLC is the sole book-running manager for the Offering.
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Symbotic Reports First Quarter Fiscal Year 2024 Results

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Symbotic Inc. (Nasdaq: SYM) reported a significant increase in revenue for the first fiscal quarter of 2024, reaching $369 million, compared to $206 million in the same quarter of fiscal 2023. The company also saw a substantial improvement in adjusted EBITDA, moving from a loss of $16 million in fiscal 2023 to a positive $14 million in fiscal 2024. Additionally, Symbotic's cash, cash equivalents, restricted cash, and marketable securities increased by $129 million from the previous quarter, reaching $677 million. The company expects a strong second quarter, with revenue projected to be between $400 million and $420 million, and adjusted EBITDA estimated to be between $12 million and $15 million.
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E2IP strengthens its Board of Directors for accelerated global scalability. Accomplished CEO and Fortune 500 Executive, Michael J. Loparco, joins E2IP Board of Directors

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E2IP appoints Michael J. Loparco, a seasoned executive with experience at Symbiotic and Jabil, as an independent member of its Board of Directors. Loparco's extensive industry experience and strategic guidance are expected to benefit E2IP as it accelerates global growth and prepares for an IPO in the coming years. His successful track record at Symbiotic, a warehouse automation technology company, and his long tenure at Jabil, a Fortune 125 company, position him as a valuable asset for E2IP's future endeavors.
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Symbotic Announces Date for Reporting First Quarter Fiscal 2024 Financial Results

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Symbotic Inc. (Nasdaq: SYM) will release first quarter fiscal 2024 financial results after the market close on Monday, February 5, 2024. The company will host a live webcast to discuss its financial results for the quarter at 5:00 p.m. ET on the same date. To listen to the live webcast, register at the provided link for a personal access code. The webcast will be available for replay on the Symbotic Investor Relations website. Please direct any questions regarding obtaining access to the webcast to Symbotic Investor Relations at the provided email address.
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Symbotic Reports 2023 Results with Record Revenue and Improved Margin as Deployments Accelerated

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Symbotic Inc. (Nasdaq: SYM) announced financial results for its Q4 and fiscal year ended September 30, 2023. Revenue was $392 million for Q4, reflecting 98% YoY growth. Net loss was $45 million, with adjusted EBITDA of $13 million. Cash, cash equivalents, restricted cash, and marketable securities increased to $548 million. For fiscal year 2023, revenue was $1,177 million, net loss was $208 million, and adjusted EBITDA loss was $18 million. Symbotic expects Q1 2024 revenue of $350-370 million and adjusted EBITDA of $11-14 million.
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Southern Glazer’s Wine & Spirits and Symbotic Announce Agreement to Implement Industry-Leading Warehouse Automation Systems

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Southern Glazer's Wine & Spirits (Southern Glazer's) and Symbotic Inc. (Nasdaq: SYM) have entered into a strategic agreement to deploy Symbotic’s A.I.-powered software and robotics warehouse automation systems in select Southern Glazer’s distribution centers. The first of these systems is set to be implemented by 2025, with the aim to improve fill rates, order accuracy, and customer service times. The Symbotic System™ will build mixed-case pallets for efficient route-stop delivery and handle both high velocity and slow-moving inventory more efficiently and accurately. This move is expected to set Southern Glazer’s apart in the marketplace and enhance skills, opportunities, and safety for their employees.
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Symbotic Announces Date for Reporting Fourth Quarter and Fiscal Year 2023 Financial Results

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Symbotic Inc. (Nasdaq: SYM) will release its Q4 and fiscal year 2023 financial results on November 20, 2023. A live webcast to discuss the results will be held at 5:00 p.m. ET on the same date. For access, register at https://edge.media-server.com/mmc/go/Symbotic-Q4-2023. The webcast will be available for replay on the Symbotic Investor Relations website.
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Symbotic Announces Tom Ernst’s Retirement and Names Chief Financial Officer

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Symbotic Inc. announces retirement of CFO Tom Ernst and appointment of Carol Hibbard as his successor. Ernst will serve as a consultant until end of fiscal year 2024. Hibbard joins from Boeing and brings extensive financial and business experience. Symbotic is well positioned for future growth.
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FAQ

What is the current stock price of Symbotic (SYM)?

The current stock price of Symbotic (SYM) is $33.95 as of November 8, 2024.

What is the market cap of Symbotic (SYM)?

The market cap of Symbotic (SYM) is approximately 3.4B.

What does Symbotic Inc. do?

Symbotic Inc. develops and deploys automation technology solutions, including proprietary robotics and software, to improve the efficiency of supply chains.

Where is Symbotic headquartered?

Symbotic is headquartered in Wilmington, Massachusetts, USA, with additional offices in Montreal, Canada.

What industries does Symbotic serve?

Symbotic serves a range of industries including retail, wholesale, and food & beverage sectors.

Who are some of Symbotic's notable clients?

One of Symbotic's notable clients is Southern Glazer's Wine & Spirits, which has utilized Symbotic's automation solutions to enhance their distribution operations.

How can I apply for a job at Symbotic?

Interested candidates can explore job opportunities on Symbotic’s website or contact the company directly at careers@symbotic.com.

What are some of the financial highlights of Symbotic?

Symbotic has shown strong financial growth with significant increases in revenue and positive adjusted EBITDA, reflecting operational efficiency and financial health.

Does Symbotic use AI in its technology?

Yes, Symbotic integrates advanced artificial intelligence and machine learning in its automation systems to optimize storage, retrieval, and overall supply chain efficiency.

What is the Symbotic System™?

The Symbotic System™ is a comprehensive automation solution capable of building mixed-case pallets and improving order accuracy and customer service times in distribution centers.

How does Symbotic contribute to improving supply chain operations?

Symbotic enhances supply chain operations by automating warehouse processes, thus increasing speed, accuracy, and profitability for its clients.

Where can I find more information about Symbotic?

More information about Symbotic can be found on their official website at www.symbotic.com.

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Symbotic Inc.

Nasdaq:SYM

SYM Rankings

#1589 Ranked by Market Cap
N/A Ranked by Dividends

SYM Stock Data

3.38B
103.78M
16.75%
84.37%
14.62%
Specialty Industrial Machinery
General Industrial Machinery & Equipment, Nec
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United States of America
WILMINGTON