10-Q Filing

Symbotic Inc. CIK: 1837240 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001837240-23-000056`
Period End Date	20221231
Filing Date	20230203
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	sym-20221224_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 29 Cash Flow Statement 52 Stockholders Equity 17 Comprehensive Income 9

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	553.91M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	553.89M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$353.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$350.72M	USD	Point-in-time
Marketable securities	`DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent`	-	USD	Point-in-time
Marketable securities	`DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent`	$96.80M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$52.33M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.41M	USD	Point-in-time
Unbilled accounts receivable	`UnbilledReceivablesCurrent`	$101.82M	USD	Point-in-time
Unbilled accounts receivable	`UnbilledReceivablesCurrent`	$93.82M	USD	Point-in-time
Inventories	`InventoryNet`	$91.90M	USD	Point-in-time
Inventories	`InventoryNet`	$110.91M	USD	Point-in-time
Deferred expenses	`DeferredCostsCurrent`	$35.11M	USD	Point-in-time
Deferred expenses	`DeferredCostsCurrent`	$29.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$25.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$32.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$772.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$605.40M	USD	Point-in-time
Property and equipment, at cost	`PropertyPlantAndEquipmentGross`	$55.66M	USD	Point-in-time
Property and equipment, at cost	`PropertyPlantAndEquipmentGross`	$48.72M	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$23.84M	USD	Point-in-time
Less: Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$25.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.25M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$650.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$540.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.06M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$337.00K	USD	Point-in-time
Total assets	`Assets`	$631.26M	USD	Point-in-time
Total assets	`Assets`	$808.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.45M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$73.12M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$47.31M	USD	Point-in-time
Sales tax payable	`SalesAndExciseTaxPayableCurrent`	$12.95M	USD	Point-in-time
Sales tax payable	`SalesAndExciseTaxPayableCurrent`	$21.36M	USD	Point-in-time
Deferred revenue, current	`ContractWithCustomerLiabilityCurrent`	$394.24M	USD	Point-in-time
Deferred revenue, current	`ContractWithCustomerLiabilityCurrent`	$580.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$735.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$522.96M	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$31.46M	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$9.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$13.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$758.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$562.32M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital - warrants	`OtherAdditionalCapital`	$58.13M	USD	Point-in-time
Additional paid-in capital - warrants	`OtherAdditionalCapital`	$58.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.24B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.24B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.31M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.18M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$44.98M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$61.76M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$68.94M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.11B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-978.61M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$50.30M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$808.95M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$631.26M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$206.31M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$77.06M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$171.12M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$62.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$35.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.47M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$22.18M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$50.74M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$54.02M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$104.76M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.54M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-69.57M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-23.07M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$22.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.83M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-67.73M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-23.05M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$251.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-67.99M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.05M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-60.79M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-7.19M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-23.05M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.12	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.24M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.24M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-67.99M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.36M	USD	1 Quarter
Foreign currency (gains) / losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$-10.00K	USD	1 Quarter
Foreign currency (gains) / losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$8.00K	USD	1 Quarter
Loss on abandonment of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on abandonment of assets	`GainLossOnDispositionOfAssets1`	$-3.47M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$49.54M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$27.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$48.96M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$19.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.52M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.42M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.25M	USD	1 Quarter
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$13.00K	USD	1 Quarter
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$5.96M	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-7.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$6.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.06M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.51M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$34.13M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.05M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$76.74M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$164.09M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$5.58M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-8.00K	USD	1 Quarter
Net cash and cash equivalents provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$101.05M	USD	1 Quarter
Net cash and cash equivalents provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.99M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$96.81M	USD	1 Quarter
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.50M	USD	1 Quarter
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-103.80M	USD	1 Quarter
Proceeds from issuance of Class A Common Units	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	-	USD	1 Quarter
Proceeds from issuance of Class A Common Units	`ProceedsFromIssuanceOfCommonLimitedPartnersUnits`	$173.80M	USD	1 Quarter
Net cash and cash equivalents provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash and cash equivalents provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$173.80M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$122.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.73M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$206.41M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$353.46M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$350.72M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$156.63M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$363.05M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$353.46M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$350.72M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$156.63M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$363.05M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$68.94M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.11B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-978.61M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$50.30M	USD	Point-in-time
Net loss	`ProfitLoss`	$-67.99M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.05M	USD	1 Quarter
Exchange of Class V-1 common stock	`StockIssuedDuringPeriodValueExchangeOfClassV1CommonStock`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$49.54M	USD	1 Quarter
Accretion of Class C Units to redemption value	`StockholdersEquityAccretionOfTemporaryEquity`	$7.19M	USD	1 Quarter
Exercise of warrants	`StockIssuedDuringPeriodValueWarrantsExercised`	$173.80M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-192.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-294.00K	USD	1 Quarter
Preferred Return	`StockholdersEquityPreferredReturn`	$8.64M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$68.94M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.11B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-978.61M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$50.30M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-67.99M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.05M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-294.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-192.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-68.18M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-23.35M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-60.97M	USD	1 Quarter
Total comprehensive loss attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$-7.21M	USD	1 Quarter
Total comprehensive loss attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$-23.35M	USD	1 Quarter

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