Symbotic’s revenue increased 98% to $1.18 billion in 2023 thanks to deals with Albertson’s, Target and Walmart.
Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.
GreenBox will automate supply chain networks globally by operating and making Symbotics’ AI and automation technology accessible.
Robotic case-picking system to improve Associated Food Stores’ supply chain capabilities and retailer experiences.
Symbotic brought in $266.9 million in revenue in Q2 of 2023, with a net loss of $55.4 million and an adjusted EBITDA loss of $11.2 million.
Symbotic posted revenue of $206.3 million, a net loss of $68.0 million and an adjusted EBITDA loss of $16.3 million for the first quarter of fiscal 2023.
Symbotic made its debut on the NASDAQ today under ticker symbol “SYM” after completing its business combination with SVF Investment Corp. 3.
Symbotic’s partnership with Walmart was announced in July 2021, when Walmart planned to Symbotic’s system in 25 distribution centers.
The transaction will deliver up to $725 million of primary gross proceeds for Symbotic. The deal values Symbotic at $4.8 billion.
Walmart partners with Symbotic to deploy automation that improves the throughput of regional Walmart distribution centers.
Distribution centers (DCs) are massive warehouses that receive, inspect and store goods for later picking, packing and shipping to end-users, re-distributors or retail outlets. Products can be everything from books, pharmacy goods, clothing, office goods, food, drinks, shoes, produce, household items and pet supplies to diapers. And quantities can be one or two individual units…