Symbotic Inc

For the period ended Dec 30, 2023. Filed Feb 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 30, 2023 · Filed Feb 8, 2024

SYM$37.62-0.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 1. Unaudited Condensed Consolidated Financial Statements

PART I - FINANCIAL INFORMATION

Item 1. Unaudited Condensed Consolidated Financial Statements

Unaudited Condensed Consolidated Balance Sheets

(in thousands, except share data)

	December 30, 2023	September 30, 2023
ASSETS
Current assets:
Cash and cash equivalents	$485,952	$258,770
Marketable securities	189,011	286,736
Accounts receivable	153,058	69,206
Unbilled accounts receivable	147,956	121,149
Inventories	137,666	136,121
Deferred expenses	41,736	34,577
Prepaid expenses and other current assets	104,324	85,236
Total current assets	1,259,703	991,795
Property and equipment, net	34,990	34,507
Intangible assets, net	—	217
Other long-term assets	29,611	24,191
Total assets	$1,324,304	$1,050,710
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$106,088	$109,918
Accrued expenses	114,771	99,992
Sales tax payable	37,571	28,322
Deferred revenue	840,028	787,227
Total current liabilities	1,098,458	1,025,459
Deferred revenue	17,169	—
Other long-term liabilities	36,802	27,967
Total liabilities	1,152,429	1,053,426
Commitments and contingencies (Note 11)	—	—
Equity:
Class A Common Stock, 3,000,000,000 shares authorized, 85,106,588 and 82,112,881 shares issued and outstanding at December 30, 2023 and September 30, 2023, respectively	10	8
Class V-1 Common Stock, 1,000,000,000 shares authorized, 81,489,643 and 66,931,097 shares issued and outstanding at December 30, 2023 and September 30, 2023, respectively	8	7

Class V-3 Common Stock, 450,000,000 shares authorized, 406,512,941 and 407,528,941shares issued and outstanding at December 30, 2023 and September 30, 2023, respectively	41	41
Additional paid-in capital - warrants	—	58,126
Additional paid-in capital	1,474,681	1,254,022
Accumulated deficit	(1,312,363)	(1,310,435)
Accumulated other comprehensive loss	(1,770)	(1,687)
Total stockholders’ equity	160,607	82
Noncontrolling interest	11,268	(2,798)
Total equity	171,875	(2,716)
Total liabilities and equity	$1,324,304	$1,050,710

Unaudited Condensed Consolidated Statements of Operations

(in thousands, except share and per share information)

	For the Three Months Ended
	December 30, 2023	December 24, 2022
Revenue:
Systems	$356,212	$197,901
Software maintenance and support	2,169	1,237
Operation services	10,069	7,174
Total revenue	368,450	206,312
Cost of revenue:
Systems	286,403	160,931
Software maintenance and support	1,726	1,671
Operation services	10,214	8,516
Total cost of revenue	298,343	171,118
Gross profit	70,107	35,194
Operating expenses:
Research and development expenses	42,144	50,740
Selling, general, and administrative expenses	47,012	54,023
Total operating expenses	89,156	104,763
Operating loss	(19,049)	(69,569)
Other income, net	6,199	1,834
Loss before income tax	(12,850)	(67,735)
Income tax expense	(117)	(251)
Net loss	(12,967)	(67,986)
Net loss attributable to noncontrolling interests	(11,039)	(60,793)
Net loss attributable to common stockholders	$(1,928)	$(7,193)
Loss per share of Class A Common Stock:
Basic and Diluted	$(0.02)	$(0.12)
Weighted-average shares of Class A Common Stock outstanding:
Basic and Diluted	83,320,943	58,235,506

Unaudited Condensed Consolidated Statements of Comprehensive Loss

(in thousands)

	For the Three Months Ended
	December 30, 2023	December 24, 2022
Net loss	$(12,967)	$(67,986)
Less: Net loss attributable to noncontrolling interests	(11,039)	(60,793)
Net loss attributable to common stockholders	$(1,928)	$(7,193)
Other comprehensive income (loss):
Foreign currency translation adjustments	360	(192)
Changes in unrealized gain on investments, net of income taxes of $— for the three months ended December 30, 2023 and December 24, 2022	(911)	—
Total other comprehensive loss	(551)	(192)
Less: other comprehensive loss attributable to noncontrolling interests	(468)	(172)
Other comprehensive loss attributable to common stockholders	$(83)	$(20)
Comprehensive loss	(13,518)	(68,178)
Less: Comprehensive loss attributable to noncontrolling interests	(11,507)	(60,965)
Total comprehensive loss attributable to common stockholders	$(2,011)	$(7,213)

Unaudited Condensed Consolidated Statements of Changes in Equity (Deficit)

(in thousands, except share information)

	Three Months Ended December 30, 2023
Class A Common Stock · Class V-1 Common Stock · Class V-3 Common Stock · Additional Paid-in Capital - Warrants · Additional Paid-in Capital · Accumulated Other Comprehensive Loss · Accumulated Deficit · Noncontrolling Interest · Total Equity (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount
Balance at September 30, 2023	82,112,881	$8	66,931,097	$7	407,528,941	$41	$58,126		$1,254,022		$(1,687)		$(1,310,435)		$(2,798)		$(2,716)
Net loss	—	—	—	—	—	—	—	—		—		(1,928)		(11,039)		(12,967)
Issuance of common stock under stock plans, net of shares withheld for employee taxes	665,842	—	—	—	—	—	—	(8)		—		—		(50)		(58)
Exchange of Class V-1 and V-3 common stock	2,327,865	2	(1,311,865)	(2)	(1,016,000)	—	—	(536)		—		—		536		—
Stock-based compensation	—	—	—	—	—	—	—	4,375		—		—		25,087		29,462
Other comprehensive loss	—	—	—	—	—	—	—	—		(83)		—		(468)		(551)
Exercise of warrants	—	—	15,870,411	3	—	—	(58,126)	216,828		—		—		—		158,705
Balance at December 30, 2023	85,106,588	$10	81,489,643	$8	406,512,941	$41	$—		$1,474,681		$(1,770)		$(1,312,363)		$11,268		$171,875

	Three Months Ended December 24, 2022
Class A Common Stock · Class V-1 Common Stock · Class V-3 Common Stock · Additional Paid-in Capital - Warrants · Additional Paid-in Capital · Accumulated Other Comprehensive Loss · Accumulated Deficit · Noncontrolling Interest · Total Equity (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount
Balance at September 24, 2022	57,718,836	$6	79,237,388	$8	416,933,025	$42	$58,126		$1,237,865		$(2,294)		$(1,286,569)		$61,756		$68,940
Net loss	—	—	—	—	—	—	—	—		—		(7,193)		(60,793)		(67,986)
Issuance of common stock under stock plans	17,500	—	—	—	—	—	—	—		—		—		—		—
Exchange of Class V-1 common stock	848,354	—	(848,354)	—	—	—	—	110		—		—		(110)		—
Stock-based compensation	—	—	—	—	—	—	—	5,242		—		—		44,298		49,540
Other comprehensive loss	—	—	—	—	—	—	—	—		(20)		—		(172)		(192)
Balance at December 24, 2022	58,584,690	$6	78,389,034	$8	416,933,025	$42	$58,126		$1,243,217		$(2,314)		$(1,293,762)		$44,979		$50,302

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.