Symbotic swings to a $55 million quarterly profit as revenue rises 22% to $721 million

Symbotic, the warehouse automation company whose largest customer is Walmart, reported a net profit of $55 million for its fiscal third quarter, reversing a $21 million loss a year earlier, according to results filed with the U.S. Securities and Exchange Commission on August 5, 2026. Revenue for the three months ended June 27 rose 22% to $720.8 million from $592.1 million.

Adjusted EBITDA more than doubled to $95 million from $45 million, the company said. Gross margin was 22.3%, and 25.0% on an adjusted basis. For the first nine months of the fiscal year, revenue reached $2,027.3 million, net income $77.8 million and adjusted EBITDA $239.9 million, with a nine-month gross margin of 21.9%.

The company guided fourth-quarter revenue to between $760 million and $780 million and adjusted EBITDA to between $100 million and $105 million. At the midpoint, that implies full fiscal-year 2026 revenue of roughly $2.8 billion, calculated by adding the $770 million midpoint to the reported nine-month total. Symbotic said it had 77 systems in deployment.

Cash and cash equivalents stood at $1.7 billion at quarter end, down from $2.0 billion three months earlier. Operating expenses were $128.0 million, including $43.8 million of research and development. The company also announced that Steve Pagliuca, former co-chair of Bain Capital, had been elected to its board.

Chief Executive Rick Cohen said Symbotic was well on track against its key objectives and saw growing opportunities to broaden its scope with customers. The filings point to three strands that define that scope: the acquisition of Walmart's Advanced Systems and Robotics business, a commercial agreement with Nueva Wal Mart de México, and the GreenBox Systems joint venture, now doing business as Exol, which offers automated warehousing as a service. The quarterly report carries the Exol stake as an equity method investment of $140.5 million and shows $20.2 million paid in the nine months for the Walmart robotics business.

Symbotic's systems use fleets of autonomous mobile robots that travel through a dense storage structure, retrieving and placing cases of goods so that a distribution center can build store-ready mixed pallets with far fewer people. The software that schedules those robots is the core of the product, which makes Symbotic as much a fleet orchestration company as a hardware vendor.

Among listed peers, Norway's AutoStore reported second-quarter 2026 revenue of $192.1 million on August 13, up 43.4%, and Teradyne said on July 28 that its Robotics group, which includes collaborative arms and mobile robots, booked $100 million in the quarter. KION Group, whose Intelligent Automation Solutions segment covers warehouse automation, posted segment revenue of EUR 861 million, up 23%, on July 30. Symbotic is the largest of the four by quarterly revenue.

For global investors the quarter marks a shift in the debate. Symbotic's growth has long been measured in system starts and backlog; the move to a positive net income, with adjusted EBITDA margin rising to about 13.2% from about 7.6% a year ago, shifts attention to how far margins can rise as more systems complete installation.

The risks remain concentration and cash. Walmart and its affiliates sit behind the acquisition, the Mexico agreement and Exol, so any change in Walmart's capital plans would hit Symbotic directly. Cash fell by about $300 million in the quarter, and gross margin of 22.3% leaves limited cushion if installation costs rise.

The next markers are the fourth-quarter report, due in late 2026, where the company must deliver $760 million to $780 million of revenue, and any disclosure of Exol customers outside the Walmart group.