Editor's note: The spelling of the company's name has been corrected in this article.
What happened
The combination of involvement in a white-hot technology and encouraging quarterly results boosted the stock of Symbotic (SYM 1.97%) on Monday. The company, which harnesses artificial intelligence (AI) to make its warehouse-robotic products smarter and more productive, saw a nearly 51% share-price improvement after reporting its latest set of quarterly figures.
So what
That was an interesting development, as Symbotic had a mixed quarter. On the top line, the company earned nearly $312 million in revenue, which was far above the $261 million consensus analyst estimate. On the bottom line, though, its $4.3 million ($0.07) net loss was notably deeper than those prognosticators' collective forecast of only a $0.02 per-share deficit.
As a cutting-edge tech company using a super-popular technology -- AI -- in its wares, though, Symbotic's investors might not be so concerned about a bottom-line miss. Additionally, the company did manage to narrow it; the year-ago net loss was more than $6.1 million. Meanwhile, revenue saw quite the pop, with that sub-$312 million being a meaty 17% higher on a year-over-year basis.
In its earnings release, Symbotic quoted its CFO Tom Ernst as saying that during the quarter, the company "maintained our focus on scaling for growth and investing in innovation, while still achieving strong operating leverage."
Now what
Symbotic also proffered guidance for its current (fourth) quarter. This was sparing, however. The company said it is poised to earn $290 million to $310 million in revenue, with non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) coming in flat to $3 million in the black.
