Symbotic reported fiscal third-quarter revenue of $721 million, up 22% year-over-year, with net income swinging to $55 million from a $21 million loss a year earlier. Adjusted EBITDA more than doubled to $95 million from $45 million, and the company started 11 new system deployments, bringing total deployments to 77 with 56 operational. Software revenue jumped 57% to $13 million and operation services revenue climbed 49% to $37 million, while the Walmart relationship expanded with the brake pack each-picking system now live at half of Walmart's regional distribution centers. However, the stock trades at a forward P/E of 238.10 as of August 14, short interest stands at 28.10% of float, cash fell to $1.7 billion from $2 billion, and backlog dipped slightly to $22.5 billion. Hedge fund ownership declined from 38 funds to 35 heading into the print.
Symbotic IncStrong quarter with revenue up 22%, net income swing to profit, and EBITDA doubling.
Walmart Inc.