10-Q Filing

Symbotic Inc. CIK: 1837240 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001193125-21-242175`
Period End Date	20210630
Filing Date	20210811
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	d67123d10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 19 Cash Flow Statement 31 Stockholders Equity 14

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.29M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.15K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.15K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.99M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$320.01M	USD	Point-in-time
Deferred offering costs associated with the initial public offering	`DeferredOfferingCostsNonCurrent`	$126.75K	USD	Point-in-time
Total Assets	`Assets`	$132.90K	USD	Point-in-time
Total Assets	`Assets`	$324.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.60K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.55M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$100.00K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$300.13K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Temporary equity, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Note payable - related party	`NotesPayableCurrent`	$17.75K	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$126.75K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.90M	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissions`	$11.20M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total liabilities	`Liabilities`	$14.10M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total liabilities	`Liabilities`	$126.75K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 32,000,000 and -0- shares issued and outstanding, subject to possible redemption at $10.00 per share as of June 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$320.00M	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 32,000,000 and -0- shares issued and outstanding, subject to possible redemption at $10.00 per share as of June 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$320.00M	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.20K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.85K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.10M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$6.15K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-10.10M	USD	Point-in-time
Total Liabilities and Shareholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$132.90K	USD	Point-in-time
Total Liabilities and Shareholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$324.00M	USD	Point-in-time

Income Statement 19 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.00M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
General and administrative expenses - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$23.27K	USD	1 Quarter
General and administrative expenses - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$40.00K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.04M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.52M	USD	1 Quarter
Income from investments held in Trust Account	`NonoperatingIncomeExpense`	$4.86K	USD	1 Quarter
Income from investments held in Trust Account	`NonoperatingIncomeExpense`	$5.93K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.04M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-523.92K	USD	1 Quarter
Basic and diluted weighted average shares outstanding of Class A ordinary shares subject to possible redemption	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.00M	shares	1 Quarter
Basic and diluted weighted average shares outstanding of Class A ordinary shares subject to possible redemption	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.00M	shares	2 Qtrs
Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted weighted average shares outstanding of non-redeemable ordinary shares	`WeightedAverageNumberOfShareOutstandingNonRedeemableClassBasicAndDiluted`	9.04M	shares	1 Quarter
Basic and diluted weighted average shares outstanding of non-redeemable ordinary shares	`WeightedAverageNumberOfShareOutstandingNonRedeemableClassBasicAndDiluted`	8.26M	shares	2 Qtrs
Basic and diluted net loss per ordinary share, non-redeemable ordinary shares	`EarningsPerShareNonRedeemableBasicAndDiluted`	$-0.37	USD	2 Qtrs
Basic and diluted net loss per ordinary share, non-redeemable ordinary shares	`EarningsPerShareNonRedeemableBasicAndDiluted`	$-0.28	USD	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.04M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-523.92K	USD	1 Quarter
Income from investments held in Trust Account	`NonoperatingIncomeExpense`	$4.86K	USD	1 Quarter
Income from investments held in Trust Account	`NonoperatingIncomeExpense`	$5.93K	USD	2 Qtrs
General and administrative expenses paid by related party under note payable	`CostsAndExpensesRelatedParty`	$44.62K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.26M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$46.12K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.48M	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$248.63K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.49M	USD	2 Qtrs
Cash deposited in Trust Account	`PaymentsToAcquireRestrictedInvestments`	$320.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-320.00M	USD	2 Qtrs
Repayment of note payable to related party	`RepaymentsOfRelatedPartyDebt`	$413.56K	USD	2 Qtrs
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$320.00M	USD	2 Qtrs
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$10.40M	USD	2 Qtrs
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$5.79M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$324.20M	USD	2 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.71M	USD	2 Qtrs
Cash - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Cash - end of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Offering costs included in accounts payable	`OfferingCostsIncludedInAccountsPayable`	$6.48K	USD	2 Qtrs
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccruedExpenses`	$73.57K	USD	2 Qtrs
Offering costs paid by related party under note payable	`OfferingCostsPaidByRelatedPartyUnderNotePayable`	$322.60K	USD	2 Qtrs
Offering costs included in due to related party	`OfferingCostsIncludedInDueToRelatedParty`	$51.50K	USD	2 Qtrs
Reversal of offering costs included in accrued expenses in prior year	`ReversalOfOfferingCostsIncludedInAccruedExpensesInPriorYear`	$100.00K	USD	2 Qtrs
Prepaid expenses paid by related party through note payable	`PrepaidExpensesPaidByRelatedPartyThroughNotePayable`	$19.60K	USD	2 Qtrs
Outstanding accounts payable balance paid by related party under note payable	`OutstandingAccountsPayableBalancePaidByRelatedPartyUnderNotePayable`	$9.00K	USD	2 Qtrs
Deferred underwriting commissions	`DeferredUnderwritingCommissions`	$11.20M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$6.15K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-10.10M	USD	Point-in-time
Accretion of Class A ordinary shares subject to redemption	`StockholdersEquityOther`	$-12.59M	USD	1 Quarter
Sale of Class A ordinary shares in initial public offering, gross	`StockIssuedDuringPeriodValueNewIssues`	$320.00M	USD	1 Quarter
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$17.47M	USD	1 Quarter
Sale of private placement shares to Sponsor in private placement	`StockIssuedDuringPeriodValueIssuedForServices`	$10.40M	USD	1 Quarter
Shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-307.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.04M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-523.92K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$6.15K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-10.10M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.