Shares of Symbotic (SYM +39.04%) surged on Tuesday after the warehouse automation expert delivered strong fiscal fourth-quarter growth metrics.
By the close of trading, Symbotic's stock price was up more than 39%.
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Symbotic's AI-powered supply chain solutions are in high demand
Symbotic's revenue jumped 10% year over year to $618 million in the quarter ended Sept. 27, as the number of the robotics company's systems in operation nearly doubled to 48.
NASDAQ: SYM
Key Data Points
Symbotic continues to invest in and improve upon its warehouse automation technology. "We added micro fulfillment, as a new category to address e-commerce, and upgraded our storage structure to a proprietary next-generation design that offers leading density and rapid installation," CEO Rick Cohen said during a conference call with analysts.
These innovations are enabling Symbotic to win new customers. The artificial intelligence (AI)-powered supply chain specialist gained Medline, a leading distributor of medical supplies, as a potentially lucrative new client. "This marks our first customer in the healthcare vertical, where we believe the case for automation is very strong given the importance of accuracy, speed, and cost," Coehn said.
Better still, Symbotic's adjusted gross margin improved to 22.1%, up from 17.9% in the prior-year quarter. That helped to drive the company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) higher by 9% to $49 million.
Management sees more gains ahead
Symbotic projects its revenue will grow by 25%-29% to between $610 million and $630 million in its 2026 fiscal first quarter. The company also expects to generate adjusted EBITDA of $49 million to $53 million.
