{"id":566372,"date":"2023-08-03T18:06:24","date_gmt":"2023-08-03T22:06:24","guid":{"rendered":"https:\/\/www.therobotreport.com\/?p=566372"},"modified":"2023-08-03T18:06:24","modified_gmt":"2023-08-03T22:06:24","slug":"symbotic-brings-in-312m-in-q3","status":"publish","type":"post","link":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/","title":{"rendered":"Symbotic brings in $312M in Q3"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Case Storage &amp; Retrieval: Building a Store-Ready Pallet\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/w_rxqhM2MFE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><a href=\"https:\/\/www.symbotic.com\/\" target=\"_blank\" rel=\"noopener\">Symbotic<\/a>, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023. The company also reported a net loss of $39 million during Q3.&nbsp;<\/p>\n<p>This is a sharp increase in revenue from the same quarter last year, when Symbotic brought in $176 million, and a slight increase in losses from the $33 million in net losses the company recorded in the same quarter last year.&nbsp;<\/p>\n<p>\u201cWe are pleased to report another quarter of strong revenue growth and record operating margin, as we initiated six new system deployments and completed commissioning of one system,\u201d Symbotic Chief Financial Officer, Tom Ernst, said. \u201cDuring the quarter, we maintained our focus on scaling for growth and investing in innovation, while still achieving strong operating leverage. Additionally, a new systems sales contract with GreenBox increases our contracted backlog to approximately $23 billion, addressing the needs of customers who want leading automation on an outsourced basis.\u201d<\/p>\n<p>In Q4, Symbotic expects to bring in between $290 and $310 million in revenue. This revenue will likely continue to grow in 2024 due to Symbotic&#8217;s $7.5 billion new customer contract with GreenBox, its <a href=\"https:\/\/www.therobotreport.com\/softbank-and-symbotic-launch-new-joint-venture-greenbox\/\">new joint Warehouse-as-a-Service venture with SoftBank<\/a>.&nbsp;<\/p>\n<p>GreenBox will automate supply chain networks globally by operating and making Symbotics\u2019 advanced AI and automation technology accessible to the warehouse. Starting in fiscal year 2024, GreenBox will order Symbotic&#8217;s systems over a six-year period.&nbsp;<\/p>\n<p>\u201cOur GreenBox joint venture advances our strategic vision by adding over $500 billion to Symbotic\u2019s annual total addressable market,\u201d Symbotic Chairman and Chief Executive Officer, Rick Cohen, said. \u201cAs confidence in our ability to scale platform deliveries has grown, we feel now is the right time to realize the vision we have had for many years to add warehouse-as-a-service capability. We believe SoftBank is the best partner with which to launch the GreenBox joint venture because of our shared vision and expertise in scaling operations, and SoftBank\u2019s global reach.\u201d<\/p>\n<p>Symbotic\u2019s software is able to orchestrate an entire fleet of robots to receive, store and retrieve a virtually limitless number of SKUs, according to the company. Each robot is equipped with the company\u2019s proprietary end-of-arm tooling and vision systems, which allow them to output cases, totes and packages at industry-leading speeds.<\/p>\n<article class=\"type-post entry\" aria-label=\"Symbotic ends Q2 with $266.9M in revenue\">\n<div class=\"entry-content\">\n<p>Last year,&nbsp;<a href=\"https:\/\/www.therobotreport.com\/symbotic-closes-spac-deal-and-debuts-on-nasdaq\/\">the company went public via a SPAC deal with SVF Investment Corp 3<\/a>. SVF Investment Corp. 3 is a special purpose acquisition company (SPAC) sponsored by an affiliate of Softbank Investment Advisors.<\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.<\/p>\n","protected":false},"author":872,"featured_media":566374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rbr50_analysis":"","rbr50_state":"","rbr50_country":"","rbr50_description":"","rbr50_numemps":"","rbr50_text_taxonomy_radio":"","rbr50_text_taxonomy_select":"","rbr50_url":"","rbr50_yearfounded":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"footnotes":""},"categories":[3503,3502,1401],"tags":[388],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Symbotic brings in $312M in Q3 - The Robot Report<\/title>\n<meta name=\"description\" content=\"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Symbotic brings in $312M in Q3 - The Robot Report\" \/>\n<meta property=\"og:description\" content=\"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/\" \/>\n<meta property=\"og:site_name\" content=\"The Robot Report\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-03T22:06:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brianna Wessling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@therobotreport\" \/>\n<meta name=\"twitter:site\" content=\"@therobotreport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brianna Wessling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/\",\"url\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/\",\"name\":\"Symbotic brings in $312M in Q3 - The Robot Report\",\"isPartOf\":{\"@id\":\"https:\/\/www.therobotreport.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg\",\"datePublished\":\"2023-08-03T22:06:24+00:00\",\"dateModified\":\"2023-08-03T22:06:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.therobotreport.com\/#\/schema\/person\/b49ac8168e6f266c4fcadb923f6e94d0\"},\"description\":\"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage\",\"url\":\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg\",\"contentUrl\":\"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg\",\"width\":770,\"height\":500,\"caption\":\"symbotic system.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.therobotreport.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Symbotic brings in $312M in Q3\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.therobotreport.com\/#website\",\"url\":\"https:\/\/www.therobotreport.com\/\",\"name\":\"The Robot Report\",\"description\":\"Robotics news, research and analysis\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.therobotreport.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.therobotreport.com\/#\/schema\/person\/b49ac8168e6f266c4fcadb923f6e94d0\",\"name\":\"Brianna Wessling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.therobotreport.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/719a94898a1df4a988dece3c21c2050a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/719a94898a1df4a988dece3c21c2050a?s=96&d=mm&r=g\",\"caption\":\"Brianna Wessling\"},\"description\":\"Brianna Wessling is an Associate Editor, Robotics, WTWH Media. She joined WTWH Media in November 2021, and is a recent graduate from the University of Kansas. She can be reached at bwessling@wtwhmedia.com\",\"url\":\"https:\/\/www.therobotreport.com\/author\/bwessling\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Symbotic brings in $312M in Q3 - The Robot Report","description":"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/","og_locale":"en_US","og_type":"article","og_title":"Symbotic brings in $312M in Q3 - The Robot Report","og_description":"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.","og_url":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/","og_site_name":"The Robot Report","article_published_time":"2023-08-03T22:06:24+00:00","og_image":[{"width":770,"height":500,"url":"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg","type":"image\/jpeg"}],"author":"Brianna Wessling","twitter_card":"summary_large_image","twitter_creator":"@therobotreport","twitter_site":"@therobotreport","twitter_misc":{"Written by":"Brianna Wessling","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/","url":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/","name":"Symbotic brings in $312M in Q3 - The Robot Report","isPartOf":{"@id":"https:\/\/www.therobotreport.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage"},"image":{"@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage"},"thumbnailUrl":"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg","datePublished":"2023-08-03T22:06:24+00:00","dateModified":"2023-08-03T22:06:24+00:00","author":{"@id":"https:\/\/www.therobotreport.com\/#\/schema\/person\/b49ac8168e6f266c4fcadb923f6e94d0"},"description":"Symbotic, a developer of AI-enabled robotics technology, has brought in $312 million in revenue in Q3 of 2023, which ended June 24, 2023.","breadcrumb":{"@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#primaryimage","url":"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg","contentUrl":"https:\/\/www.therobotreport.com\/wp-content\/uploads\/2023\/08\/symbotic-featured.jpg","width":770,"height":500,"caption":"symbotic system."},{"@type":"BreadcrumbList","@id":"https:\/\/www.therobotreport.com\/symbotic-brings-in-312m-in-q3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.therobotreport.com\/"},{"@type":"ListItem","position":2,"name":"Symbotic brings in $312M in Q3"}]},{"@type":"WebSite","@id":"https:\/\/www.therobotreport.com\/#website","url":"https:\/\/www.therobotreport.com\/","name":"The Robot Report","description":"Robotics news, research and analysis","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.therobotreport.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.therobotreport.com\/#\/schema\/person\/b49ac8168e6f266c4fcadb923f6e94d0","name":"Brianna Wessling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.therobotreport.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/719a94898a1df4a988dece3c21c2050a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/719a94898a1df4a988dece3c21c2050a?s=96&d=mm&r=g","caption":"Brianna Wessling"},"description":"Brianna Wessling is an Associate Editor, Robotics, WTWH Media. She joined WTWH Media in November 2021, and is a recent graduate from the University of Kansas. She can be reached at bwessling@wtwhmedia.com","url":"https:\/\/www.therobotreport.com\/author\/bwessling\/"}]}},"_links":{"self":[{"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/posts\/566372"}],"collection":[{"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/users\/872"}],"replies":[{"embeddable":true,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/comments?post=566372"}],"version-history":[{"count":0,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/posts\/566372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/media\/566374"}],"wp:attachment":[{"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/media?parent=566372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/categories?post=566372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.therobotreport.com\/wp-json\/wp\/v2\/tags?post=566372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}