STOCK TITAN

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.

Rhea-AI Summary

United Natural Foods, Inc. (NYSE: UNFI) has announced a series of strategic enhancements to improve its supply chain and customer experience. Key initiatives include the implementation of SAE technology tools and the rollout of A.I.-powered robotics from Symbotic (NASDAQ: SYM) at its Centralia, Wash. distribution center. This is part of UNFI's four-part transformation agenda aimed at increasing operational efficiency, order accuracy, and overall value to shareholders. The deployment will start later this month, with full operation expected in 2024. UNFI’s improvements focus on enhancing procedures, training, and leveraging technology across its 56 distribution centers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.52%
Tags
none
-
Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM) has appointed Daniela Rus, an MIT Professor with extensive experience in robotics and artificial intelligence, to its Board of Directors effective March 1, 2023. Rus's election occurred during the company's annual stockholders meeting, where she expressed enthusiasm for joining Symbotic at a pivotal time in its growth, highlighting increasing demand for the company’s advanced technologies. The company aims to revolutionize supply chain operations using AI-driven robotics.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.55%
Tags
management
-
Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM) reported outstanding results for Q1 fiscal 2023, achieving 168% revenue growth year-over-year, totaling $206.3 million. Despite a net loss of $68 million and an adjusted EBITDA loss of $16.3 million, the company initiated a record six system deployments and saw its backlog rise to $12 billion. The outlook for Q2 includes projected revenue between $205 million and $230 million, signaling strong growth potential. Cash and equivalents increased to $447.5 million, ensuring a solid foundation for future expansion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.67%
Tags
Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM) reported significant financial results for Q1 of fiscal 2023, achieving 168% year-over-year revenue growth, with revenue reaching $206.3 million compared to $77.1 million in Q1 fiscal 2022. The company recorded a net loss of $68.0 million and an adjusted EBITDA loss of $16.3 million. Notably, Symbotic's backlog increased to $12 billion, reflecting strong demand for its A.I.-enabled robotics solutions. The company initiated six system deployments and improved gross margins while sequentially reducing operating expenses. Looking ahead, revenue forecasts for Q2 fiscal 2023 are expected between $205 million and $230 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.67%
Tags
-
Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM) has announced it will release its Q1 2023 financial results after the market close on January 30, 2023. A live webcast will follow at 5:00 p.m. ET, where management will discuss the results. The webcast registration is available online, with a replay accessible on the company's Investor Relations website. Symbotic specializes in A.I.-enabled robotics technology for supply chains, aiming to enhance efficiency and accuracy in warehouses. The upcoming financial release and senior management discussion are crucial for investors looking to understand the company's performance and future outlook.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.12%
Tags
-
Rhea-AI Summary

WeWork Inc. (NYSE: WE) announced the appointment of Vikas J. Parekh, Managing Partner at SoftBank Investment Advisers, to its Board of Directors, effective November 30, 2022. Mr. Parekh brings extensive experience in enterprise software and emerging technologies, having previously worked in private equity at KKR and consulting at Boston Consulting Group. This addition aims to enhance WeWork's strategic direction as the company continues its recovery and adapts to post-pandemic workplace needs. WeWork positions itself as a leader in flexible workspace solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.36%
Tags
management
Rhea-AI Summary

Symbotic Inc. (SYM) is set to release its fourth quarter and fiscal year 2022 financial results on November 21, 2022, after market close. A live webcast will take place at 5:00 p.m. ET on the same day to discuss these results. The investor relations website will host the press release and provide access to the webcast replay afterward. Symbotic is known for its A.I.-powered robotics technology that enhances supply chain efficiency for major retail and food & beverage companies, aiming to transform warehouse operations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.18%
Tags
-
Rhea-AI Summary

United Natural Foods (NYSE: UNFI) and Symbotic (NASDAQ: SYM) have entered a commercial agreement to integrate Symbotic’s A.I.-powered automation technology in five UNFI distribution centers over the next four years. This initiative aims to enhance efficiency, improve order accuracy, and expand storage capacity, positioning UNFI for future growth. The system will facilitate customer-specific orders and improve operational safety. UNFI’s Chief Supply Chain Officer believes this integration will elevate their supply chain performance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.56%
Tags
none
-
Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM) announced Q3 fiscal 2022 results, reporting a record revenue of $175.6 million, up from $131.5 million in the same quarter of 2021. Despite a net loss of $32.9 million, the company expanded its backlog to $11.3 billion and deployed 13 systems, up from four year-over-year. The company expects annual revenue of $490 million to $510 million for fiscal 2022, nearly doubling last year's figures, and adjusted EBITDA loss guidance of $94 million to $90 million. Symbotic ended the quarter with $412 million in cash and no debt.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.72%
Tags
Rhea-AI Summary

Symbotic Inc. (NASDAQ: SYM) will announce its Q3 2022 financial results on August 1, 2022, after market close. This event will be followed by a live webcast at 5:00 p.m. ET, where senior management will discuss the results. The press release and webcast details can be found on the Symbotic Investor Relations website. Known for its A.I.-enabled robotic technology, Symbotic is transforming the supply chain for top retail and wholesale companies, enhancing efficiency and accuracy in distribution.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.56%
Tags

FAQ

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

The current stock price of Symbotic (SYM) is $23.99 as of December 20, 2024.

What is the market cap of Symbotic (SYM)?

The market cap of Symbotic (SYM) is approximately 2.5B.

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.

Symbotic Inc.

NYSE:SYM

SYM Rankings

SYM Stock Data

2.48B
88.95M
16.75%
85.58%
13.09%
Specialty Industrial Machinery
General Industrial Machinery & Equipment, Nec
Link
United States of America
WILMINGTON