Symbotic Books $721 Million in Quarterly Revenue From Warehouse Robots

Symbotic reported $721 million in revenue for its third fiscal quarter, up 22% from a year earlier, as retailers continued buying its warehouse automation systems. The company also posted $55 million in net income, reversing a $21 million loss in the same quarter last year.

The Massachusetts-based company makes robotic systems and software that move, store and sort goods in distribution centers. That gives Symbotic a different business from Tesla’s Optimus humanoid robot project: Symbotic already records sales from installed systems and related services.

Its backlog stood at $22.5 billion on June 27, according to its latest quarterly filing. That is work under contract that has not yet been recognized as revenue, and most of it is tied to Walmart and warehouse services partner Exol.

Walmart is both Symbotic’s biggest customer and a major source of risk. It accounted for about 85% of Symbotic’s fiscal 2025 revenue; one customer, identified in the latest filing as Walmart, contributed 90.5% of third-quarter revenue.

The relationship expanded in 2025, when Symbotic completed its purchase of Walmart’s advanced systems and robotics business. Walmart also agreed to fund development of automated pickup-and-delivery systems, with a conditional commitment to buy systems for 400 stores if they meet performance targets.

Symbotic expects fourth-quarter revenue of $760 million to $780 million, with adjusted EBITDA of $100 million to $105 million. The company said 77 systems were in deployment in the third quarter, supporting its near-term growth outlook.

Investors will be watching whether Symbotic can add customers beyond Walmart and convert its large backlog into revenue on schedule. The company’s latest figures show commercial demand, but its customer concentration means Walmart’s spending plans remain central to the investment case.