Symbotic Inc. (NASDAQ:SYM) shares traded lower in premarket trading Thursday after the company reported mixed second-quarter results following Wednesday's market close.

Symbotic Earnings Snapshot

The company reported quarterly earnings of 1 cent per share, missing the consensus estimate of 10 cents.

Quarterly revenue increased 23% year over year to $676.48 million, topping the Street estimate of $663.56 million.

Adjusted EBITDA more than doubled to $78 million from $35 million in the second quarter of fiscal 2025.

Symbotic ended the quarter with $2.0 billion in cash and cash equivalents and no debt.

Segment Details

Systems revenue rose 24% year over year to $634 million, driven by expansion of the installed base. Software revenue jumped 93% to $13 million as additional systems came online, while operations services generated $29 million in revenue.

Management highlighted increasing interest from both existing and prospective customers as the company expands beyond warehouse automation into broader supply chain solutions, including e-commerce fulfillment, dock operations and route optimization.

The company also said demand is spreading into new industries such as consumer packaged goods, food service, apparel and healthcare, alongside its core exposure to grocery, beverage and general merchandise markets.

Backlog And Operations

Operational execution remained strong during the quarter, with 14 new system deployments initiated, bringing the active deployment pipeline to 70 systems.

Backlog increased to $22.7 billion from $22.3 billion in the prior quarter, supported by pricing updates on newly launched projects and the addition of the AWG system.

Gross margin improved both sequentially and year over year, aided by project execution, disciplined cost management and scale efficiencies.

Symbotic Outlook

Symbotic expects third-quarter revenue between $700 million and $720 million, compared with the analyst estimate of $698.12 million.

SYM Price Action: Symbotic shares were down 4.56% at $58.37 during premarket trading on Thursday, according to Benzinga Pro data.

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