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Symbotic Inc. (NASDAQ:SYM) Q4 2023 Earnings Call Transcript

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Summary
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86% Informative

A -0.06 s time of th Good day all participants are in a listen-only mode. the Symbotic Fourth Quarter entation, there will a question-and-answer session.

Symbotic's fourth quarter revenue grew to $392 million, up 60% compared to a very strong fourth quarter a year ago.

Carol Hibbard, the newest member of our se today management team, will take over the role of Chief Financial Officer from Tom Ernst next month. today m Jeff Evenson alk more about the q Investor Relations details.

Our bac Jeff Evanson end of the fourth qu Symbotic s $ fourth quarter 2023 include the addition of the Gre Jeff Evanson venture we announced in August.

We reached important milestone this qu today with our recurring revenue streams now reaching positive gross margin.

We expect that as we scale over time that recurring gross margins can trend to over 60%.. 11 70% to 79% Symbotic highLightText__NxlGi">between $11 million and $14 mil SEC n $350 million to $370 million the first quarter of fiscal year 2024 U.S. ryFeed_highLightText__NxlGi">Tom SEC mmaryFeed_highLightText__NxlGi">Carol Hibbard the first quarter Carol Carol Symbotic Investor Relations > 202 SEC span> the first quarter of 2024Today the first quarter of fiscal '24 the past year almost $200 million $548 million the year $35 million last quarter today ="summaryFeed_highLightTex Rick Cohen 1% 3. Tom Ernst Carol Hibbard /span> CFO span class="summaryFeed_highLightText__NxlGi">20our fourth quarter 2023 ryFeed_highLightText__NxlGi">fourth quarter Rick an> Rick Cohen _NxlGi">last Jeff terafternoon n class="summaryFeed_highLightText__NxlGi">18.3%2023 the year ahead xt__Nx first 19.1% 80the past year as Fiscal 2023 eed_highLightText__NxlGi">60% this quarter 2024 ghtText__NxlGi">our fiscal first quarter of 2024 Southern Glazer's Symbotic mmaryFeed_highLightText__NxlGi">all eight over 3,000 "summaryFeed_highLightText__NxlGi">six annual maryFeed_highLightText__NxlGi">35 UNFI the Symbotic System >f Today sp Symbotic Systems ="summaryFeed_highLightText__NxlGi">secon more than 400 million ="summaryFeed_highLightText__NxlGi">Walmart E another 1.6 billion annually ummaryFeed_highLightText_ annual ">over U.S. million over 500 billion ed_highLightText__NxlGi">GreenBox SoftBank many years "summaryFeed_highLightText__NxlGi">GreenBox Southern Glazer's a Wine and Spirits Text__Nx Symbotic enBoxSouthern Glazer's "summaryFeed_highLightText__NxlGi">$11 billion August GreenBoxthe Symbotic System summaryFeed_highLightText__NxlGi">$23.3 billi SKU /span> the end of the fourth quarter $14 million Massachusetts Wilmington the fourth quarter Rick the quarters ahead a year ago 17 SymBot hLigh ninth __NxlGi">an over 100% 1,000 NxlGi">quarter end 35 last quarter the fourth quarter of last SymBot /span> 17 SymBot /span> 6 xlGi">last quarter 33 10 SymBot Gi">35 first the end of the fourth quarter two the quarter four this quarter a very strong fourth quarter a year ago our fourth consecutive quarter ightText__NxlGi">60% $392 million Our fourth quarte Symbotic quarterly Symbotic Symbotic 2024 xt__NxlGi">Carol Tom Ernst the new year xt__NxlGi">Tom Rick Rick Carol Hibbard Symbotic ighLightText__NxlGi">Carol Tom tw GreenBox an important year ightText__NxlGi">Tom SoftBank la GreenBox aryFeed_highLightText__NxlGi">Tom next GreenBox span> Tom first " GreenBox eed_highLight 2024 __NxlGi">Car GreenBox > Carol Hibba GreenBox > quarterly 35% ryFe GreenBox ightText__NxlGi">Tom Symbotic

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