Symbotic Inc. reported strong fiscal Q3 2024 results with revenue increasing 58% to $491.9 million, driven by 39 system deployments compared to 33 in the prior year period. The company narrowed its net loss to $14.2 million from $39.1 million year-over-year, while gross profit rose to $67.4 million from $52.9 million. Adjusted EBITDA turned positive at $15.2 million compared to a loss of $3.4 million last year.The company's performance was bolstered by continued progress on its Master Automation Agreement with Walmart to implement systems across 42 regional distribution centers. Software maintenance and support revenue doubled to $3.5 million as operational system sites increased to 21 from 10 year-over-year, while operation services revenue grew 110% to $16.2 million on expanded service deployments.Symbotic maintained a strong liquidity position with $870.5 million in cash and cash equivalents as of June 29, 2024. The company received $158.7 million from Walmart's warrant exercise and raised $258 million through an equity offering in March 2024. Management expects current cash reserves and operational cash flows to be sufficient for at least the next 12 months of planned growth initiatives.

Symbotic Inc. reported strong fiscal Q3 2024 results with revenue increasing 58% to $491.9 million, driven by 39 system deployments compared to 33 in the prior year period. The company narrowed its net loss to $14.2 million from $39.1 million year-over-year, while gross profit rose to $67.4 million from $52.9 million. Adjusted EBITDA turned positive at $15.2 million compared to a loss of $3.4 million last year.The company's performance was bolstered by continued progress on its Master Automation Agreement with Walmart to implement systems across 42 regional distribution centers. Software maintenance and support revenue doubled to $3.5 million as operational system sites increased to 21 from 10 year-over-year, while operation services revenue grew 110% to $16.2 million on expanded service deployments.Symbotic maintained a strong liquidity position with $870.5 million in cash and cash equivalents as of June 29, 2024. The company received $158.7 million from Walmart's warrant exercise and raised $258 million through an equity offering in March 2024. Management expects current cash reserves and operational cash flows to be sufficient for at least the next 12 months of planned growth initiatives.