Symbotic (SYM) Q3 2026 Earnings Report

The call presented multiple material positives: strong top-line growth (22% YoY), a return to GAAP profitability, adjusted EBITDA more than doubling year-over-year, high-growth software and services revenue, expanding deployments, a large $22.5 billion backlog, and strategic technology and tuck-in acquisitions supporting broadened addressable markets. Headwinds highlighted included timing-driven cash decline, modest backlog adjustments and pricing resets, a multi-quarter timeline for converting micro-fulfillment opportunities at scale, some lumpiness in revenue per deployment, and a cautious near-term margin outlook due to OpEx timing. Overall, the fundamentals and growth drivers appear robust and management signaled clear levers to continue margin expansion, outweighing the transitory operational and timing challenges.

Symbotic guided Q4 FY26 revenue of $700–780 million and adjusted EBITDA of $100–105 million. For context, Q3 FY26 results were revenue $721M (+22% YoY, +7% QoQ), adjusted EBITDA $95M (vs. $45M in Q3 FY25), GAAP net income $55M (vs. $21M net loss a year ago), systems revenue $671M (+20% YoY, +6% QoQ), software $13M (+57% YoY), and operations services $37M (+49% YoY); the company started 11 new deployments in the quarter (bringing deployments to 77, 56 operational with 4 turned operational in Q3), reported a backlog of $22.5B (~15% expected to convert in the next 12 months), cash & equivalents of $1.7B (down from $2.0B), GAAP operating expenses of $128M and combined adjusted R&D+SG&A of $85M, and reiterated that full‑year adjusted EBITDA should be more than double last fiscal year while expecting Q4 free cash flow to be positive and further margin inflection as next‑gen storage rolls out.