Symbotic Inc. (SYM) shares tumbled 11.76% in after-hours trading on Wednesday, despite reporting better-than-expected third-quarter revenue. The AI-enabled robotics technology company for supply chains posted mixed results and warned of a potential short-term impact on revenue.
For the third quarter of fiscal year 2025, Symbotic reported revenue of $592.121 million, surpassing the IBES estimate of $533.2 million. However, the company's net loss widened to $31.925 million, compared to a $27 million loss in the same quarter last year. The adjusted EBITDA for the quarter improved significantly to $45 million, up from $3 million in the prior year.
Investors' concerns seem to stem from two key factors. First, despite the revenue growth, the company's net loss has increased year-over-year. Second, Symbotic unveiled a next-generation storage structure, which it expects to have a temporary short-term impact on revenue due to schedule shifts. While the company maintains that this new structure will contribute to long-term value creation, the market appears to be reacting negatively to the potential near-term revenue disruption. Looking ahead, Symbotic provided guidance for the fourth quarter of fiscal 2025, expecting revenue between $590 million and $610 million.
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