0001837240-25-000044 | 10-Q | XBRL Viewer

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Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 14,949
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Gross	15,861
Accumulated amortization	(912)
Total	$ 14,949	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Net Loss per Share - Narrative (Details)	3 Months Ended
Net Loss per Share - Narrative (Details)	Dec. 28, 2024 $ / shares shares
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of dilutive earnings per share (in shares)	4,000,000
Warrant Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of dilutive earnings per share (in shares)	5,400,000
Average
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share price (in dollars per share) \| $ / shares	$ 28.49

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Dec. 28, 2024	Dec. 30, 2023
Income Tax Disclosure [Abstract]
Current income tax expense	$ 200,000	$ 200,000
Effective tax rate	(0.80%)
Future payments, tax receivable agreement	$ 409,100,000
Tax receivable agreement, liability	$ 0

Variable Interest Entities (“VIE”) - Narrative (Details) - USD ($)	Jul. 23, 2023	Dec. 28, 2024
Variable Interest Entity [Line Items]
Symbotic's Maximum Exposure to Loss		$ 1,633,200,000
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Symbotic's Maximum Exposure to Loss		1,635,200,000
Investments in unconsolidated VIE		$ 85,946,000
GreenBox \| Symbotic Holdings
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage	35.00%
GreenBox \| Sunlight
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage	65.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 28, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in U.S. dollars, in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures normally included in the Company’s annual audited consolidated financial statements and accompanying notes prepared in accordance with GAAP have been condensed in, or omitted from, these interim financial statements. Accordingly, these unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto as of and for the year ended September 28, 2024, which are included within the Company’s Annual Report on Form 10-K filed with the SEC on December 4, 2024. The September 28, 2024 consolidated balance sheet included herein is derived from the Company’s audited consolidated financial statements.
Consolidation	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and majority-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements include 100% of the accounts of wholly owned and majority-owned subsidiaries and the ownership interest of the minority investor is recorded as a non-controlling interest in a subsidiary. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any future period or the entire fiscal year.
Fiscal Period	The Company operates and reports using a 52-53 week fiscal year ending on the last Saturday of September of each calendar year. Each of the Company’s fiscal quarters end on the last Saturday of the third month of each quarter.
Use of Estimates	The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, and the amounts disclosed in the related notes to the consolidated financial statements. Actual results and outcomes may differ materially from management’s estimates, judgments, and assumptions. Significant estimates, judgments, and assumptions used in these financial statements include, but are not limited to, those related to revenue, useful lives and realizability of long-lived assets, accounting for income taxes and related valuation allowances, and stock-based compensation. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience.
Presentation of Restricted Cash	Restricted cash primarily consists of collateral required for a credit card processing program and a U.S. customs bond. The short-term or long-term classification is determined in accordance with the required amount of time the cash is to be held as collateral, which is short-term for less than 12 months, and long-term for greater than 12 months from the balance sheet date.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 enhances segment reporting under Topic 280 by expanding the breadth and frequency of segment disclosures. ASU 2023-07 requires disclosure of significant expenses that are regularly provided to an entity’s chief operating decision maker (“CODM”) and included in the reported measure(s) of a segment’s profit or loss. When applying this disclosure requirement, an entity identifies the segment expenses that are regularly provided to the CODM or easily computable from information that is regularly provided to the CODM. Entities are also required to disclose other segment items, i.e., the difference between reported segment revenue less the significant segment expenses and the reported measure(s) of a segment’s profit or loss. ASU 2023-07 also clarifies that single reportable segment entities are subject to Topic 280 in its entirety. ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. The amendments in ASU 2023-07 should be adopted retrospectively unless impracticable. Early adoption is permitted. The disclosures required by ASU 2023-07 are not expected to have a material effect on the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires public entities, on an annual basis, to provide: a tabular rate reconciliation (using both percentages and reporting currency amounts) of (1) the reported income tax expense (or benefit) from continuing operations, to (2) the product of the income (or loss) from continuing operations before income taxes and the applicable statutory federal (national) income tax rate of the jurisdiction (country) of domicile using specific categories, and separate disclosure for any reconciling items within certain categories that are equal to or greater than a specified quantitative threshold. For each annual period presented, ASU 2023-09 also requires all reporting entities to disclose the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign. It also requires additional disaggregated information on income taxes paid (net of refunds received) to an individual jurisdiction equal to or greater than 5% of total income taxes paid (net of refunds received). ASU 2023-09 is effective for public entities for fiscal years beginning after December 15, 2024. ASU 2023-09 is to be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses,” (“ASU 2024-03”), which requires additional disclosure about specified categories of expenses included in relevant expense captions presented on the income statement. The amendments are effective for annual periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its disclosures.

Revenue - Schedules of Concentration Risk (Details) - Customer Concentration Risk - Customer A	3 Months Ended		12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Sep. 28, 2024
Revenue from Contract with Customer Benchmark
Concentration Risk [Line Items]
Concentration risk, percentage	86.10%	82.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	89.50%		92.80%

Leases (Tables)

3 Months Ended

Dec. 28, 2024

Leases [Abstract]

Schedule of Balance Sheet Location of Operating Leases

The following table presents the balance sheet location of the Company’s operating leases for each of the periods presented (in thousands):


	December 28, 2024		September 28, 2024
ROU assets:
Other long-term assets	$	21,925	$	15,257

Lease Liabilities:
Accrued expenses and other current liabilities	$	2,244	$	1,647
Other long-term liabilities	22,515		16,076
Total lease liabilities	$	24,759	$	17,723

Schedule of Operating Lease Liabilities

The following table presents maturities of the Company’s operating lease liabilities as of December 28, 2024, presented under ASC Topic 842 (in thousands):


	December 28, 2024
Remaining fiscal year 2025	$	2,849
Fiscal year 2026	5,293
Fiscal year 2027	5,130
Fiscal year 2028	5,299
Fiscal year 2029	5,473
Thereafter	7,099
Total future minimum payments	$	31,143
Less: Implied interest	(6,384)
Total lease liabilities	$	24,759

Related Party Transactions	3 Months Ended
Related Party Transactions	Dec. 28, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions ASC 850, Related Party Disclosures (“ASC 850”), provides guidance for the identification of related parties and the disclosure of related party transactions. Related parties are generally defined as (i) affiliates of the Company; (ii) owners of more than 10% of the voting interests of the Company and members of their immediate families; (iii) management of the Company and members of their immediate families; (iv) other parties which directly or indirectly control, are controlled by, or are under common control with the Company; or (v) other parties who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company assesses related parties each reporting period. For the period ending December 28, 2024, the Company determined that C&S Wholesale Grocers, Inc. (“C&S”), GreenBox, and certain current holders of Symbotic Holdings were each a related party under ASC 850. The following transactions were related party transactions under ASC 850. Aircraft Time Sharing Agreement In December 2021 and May 2022, the Company entered into aircraft time-sharing agreements with C&S with respect to private aircraft owned by them, whereby the Company’s executives may utilize two C&S aircraft on an as-needed and as-available basis, with no minimum usage being required. As there is no defined period of time stated within these aircraft time-sharing agreements, the Company does not consider these to meet the definition of a lease, and as such, records payments in the period in which the obligation for the payment is incurred. For the three months ended December 28, 2024 and December 30, 2023, the Company incurred expense of $0.4 million and $0.2 million, respectively, related to these aircraft time-sharing agreements. Usage of Facility and Employee Services The Company has a license arrangement with C&S whereby C&S is providing receiving and logistics services for the Company within a C&S distribution facility. The arrangement also provides for C&S employees assisting with certain of the Company’s operations. For the three months ended December 28, 2024 and December 30, 2023, the Company incurred expense of $0.4 million and $0.7 million, respectively, related to this arrangement. Customer Contracts The Company has customer contracts with C&S relating to systems implementation, software maintenance services and the operations of Systems. Revenue of $2.2 million and $12.8 million was recognized for the three months ended December 28, 2024 and December 30, 2023, respectively, relating to these customer contracts. There was $5.2 million unbilled accounts receivable and accounts receivable due from C&S at December 28, 2024, and $18.4 million unbilled accounts receivable and accounts receivable due from C&S at September 28, 2024. There was $2.5 million and $1.8 million of deferred revenue related to contracts with C&S at December 28, 2024 and September 28, 2024, respectively. The transaction price allocated to performance obligations that are unsatisfied as of December 28, 2024 was $4.6 million. GreenBox The Company has a customer contract relating to systems implementation and shared services with GreenBox. Revenue of $2.7 million was recognized for the three months ended December 28, 2024 related to this customer contract. There was no unbilled accounts receivable and accounts receivable due from the customer contract and $2.0 million accounts receivable due from the shared service agreement at December 28, 2024. There was $77.1 million and $69.1 million of deferred revenue related to contracts with GreenBox at December 28, 2024 and September 28, 2024, respectively. The transaction price allocated to performance obligations that are unsatisfied as of December 28, 2024 was $11.5 billion. There was no revenue, accounts receivable, or deferred revenue for GreenBox at and for the three months ended December 30, 2023. Funding of $6.8 million was made by the Company to GreenBox in relation to the VIE (as further described in Note 14, Variable Interest Entities) for the three months ended December 28, 2024. No funding was made for the three months ended December 30, 2023. Tax Distribution to Symbotic Holdings LLC partners Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Symbotic Holdings, Symbotic LLC makes pro rata tax distributions to the holders of Symbotic Holdings’ units in an amount sufficient to fund all or part of their tax obligations with respect to the taxable income of Symbotic Holdings that is allocated to them. For the three months ended December 28, 2024, the Company distributed a total of $0.9 million of tax distributions to or on behalf of its members, of which $0.8 million was distributed to or on behalf of those who met the definition of a related party in accordance with ASC 850.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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+ Details

Summary of Significant Accounting Policies - Narrative (Details) - Cost of Goods and Service Benchmark - Supplier Concentration Risk - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Two Suppliers
Product Information [Line Items]
Volume of purchases	$ 87.1
One Supplier
Product Information [Line Items]
Volume of purchases		$ 40.0

Variable Interest Entities ("VIE") (Tables)

3 Months Ended

Dec. 28, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The Company’s recorded investments in the unconsolidated VIE and related estimated maximum exposure to loss are as follows (in thousands):


	December 28, 2024
	Investments in Unconsolidated VIE		Symbotic's Maximum Exposure to Loss
GreenBox Systems LLC	$	85,946	$	1,635,200

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Summary of Significant Accounting Policies

3 Months Ended

Dec. 28, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying unaudited condensed consolidated financial statements have been prepared in U.S. dollars, in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures normally included in the Company’s annual audited consolidated financial statements and accompanying notes prepared in accordance with GAAP have been condensed in, or omitted from, these interim financial statements. Accordingly, these unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto as of and for the year ended September 28, 2024, which are included within the Company’s Annual Report on Form 10-K filed with the SEC on December 4, 2024. The September 28, 2024 consolidated balance sheet included herein is derived from the Company’s audited consolidated financial statements.

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and majority-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements include 100% of the accounts of wholly owned and majority-owned subsidiaries and the ownership interest of the minority investor is recorded as a non-controlling interest in a subsidiary. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any future period or the entire fiscal year.

The Company operates and reports using a 52-53 week fiscal year ending on the last Saturday of September of each calendar year. Each of the Company’s fiscal quarters end on the last Saturday of the third month of each quarter.

Use of Estimates

The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, and the amounts disclosed in the related notes to the consolidated financial statements. Actual results and outcomes may differ materially from management’s estimates, judgments, and assumptions. Significant estimates, judgments, and assumptions used in these financial statements include, but are not limited to, those related to revenue, useful lives and realizability of long-lived assets, accounting for income taxes and related valuation allowances, and stock-based compensation. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience.

Significant Accounting Policies

The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, to the audited consolidated financial statements and related notes thereto as of and for the year ended September 28, 2024. There have been no material changes to the significant accounting policies during the three month period ended December 28, 2024.

Presentation of Restricted Cash

Restricted cash primarily consists of collateral required for a credit card processing program and a U.S. customs bond. The short-term or long-term classification is determined in accordance with the required amount of time the cash is to be held as collateral, which is short-term for less than 12 months, and long-term for greater than 12 months from the balance sheet date. The following table summarizes the end-of-period cash and cash equivalents from the Company’s Consolidated Balance Sheets and the total cash, cash equivalents, and restricted cash as presented on the accompanying Consolidated Statements of Cash Flows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Cash and cash equivalents	$	903,034	$	485,952
Restricted cash classified in:
Prepaid expenses and other current assets	870		—
Other assets	2,182		2,150
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	906,086	$	488,102

Volume of Business

The Company has concentration in the volume of purchases it conducts with its suppliers. For the three months ended December 28, 2024, there were two suppliers that accounted for greater than 10% of total purchases, and the aggregate purchases amounted to $87.1 million. For the three months ended December 30, 2023, there was one supplier that accounted for greater than 10% of total purchases, and the aggregate purchases amounted to $40.0 million.

Recent Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 enhances segment reporting under Topic 280 by expanding the breadth and frequency of segment disclosures. ASU 2023-07 requires disclosure of significant expenses that are regularly provided to an entity’s chief operating decision maker (“CODM”) and included in the reported measure(s) of a segment’s profit or loss. When applying this disclosure requirement, an entity identifies the segment expenses that are regularly provided to the CODM or easily computable from information that is regularly provided to the CODM. Entities are also required to disclose other segment items, i.e., the difference between reported segment revenue less the significant segment expenses and the reported measure(s) of a segment’s profit or loss. ASU 2023-07 also clarifies that single reportable segment entities are subject to Topic 280 in its entirety. ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. The amendments in ASU 2023-07 should be adopted retrospectively unless impracticable. Early adoption is permitted. The disclosures required by ASU 2023-07 are not expected to have a material effect on the Company’s consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires public entities, on an annual basis, to provide: a tabular rate reconciliation (using both percentages and reporting currency amounts) of (1) the reported income tax expense (or benefit) from continuing operations, to (2) the product of the income (or loss) from continuing operations before income taxes and the applicable statutory federal (national) income tax rate of the jurisdiction (country) of domicile using specific categories, and separate disclosure for any reconciling items within certain categories that are equal to or greater than a specified quantitative threshold. For each annual period presented, ASU 2023-09 also requires all reporting entities to disclose the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign. It also requires additional disaggregated information on income taxes paid (net of refunds received) to an individual jurisdiction equal to or greater than 5% of total income taxes paid (net of refunds received). ASU 2023-09 is effective for public entities for fiscal years beginning after December 15, 2024. ASU 2023-09 is to be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses,” (“ASU 2024-03”), which requires additional disclosure about specified categories of expenses included in relevant expense captions presented on the income statement. The amendments are effective for annual periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its disclosures.

The Company considers the applicability and impact of all ASUs issued by the FASB. There are no other accounting pronouncements which have been issued but are not yet effective that would have a material impact on the consolidated financial statements when adopted.

Property and Equipment (Tables)

3 Months Ended

Dec. 28, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment at December 28, 2024 and September 28, 2024 consists of the following (in thousands):


	December 28, 2024		September 28, 2024
Computer equipment and software, furniture and fixtures, and test and other equipment	$	128,072	$	114,515
Internal use software	6,753		7,141
Leasehold improvements	10,129		9,576
Total property and equipment	144,954		131,232
Less accumulated depreciation	(39,875)		(34,123)
Property and equipment, net	$	105,079	$	97,109

Revenue

3 Months Ended

Dec. 28, 2024

Revenue from Contract with Customer [Abstract]

Revenue

The Company generates revenue through its design and installation of supply chain automation systems (the “System”) to automate customers’ depalletizing, storage, selection, and palletization warehousing processes. The System has both a hardware component and an essential software component that enables the System to be programmed to operate within specific customer environments. The Company enters into contracts with customers that can include various combinations of services to design and install the System. These services are generally distinct and accounted for as separate performance obligations. As a result, each customer contract may contain multiple performance obligations. The Company determines whether performance obligations are distinct based on whether the customer can benefit from the product or service on its own or together with other resources that are readily available and whether the Company’s commitment to provide the services to the customer is separately identifiable from other obligations in the contract.

The Company recognizes revenue upon transfer of control of promised goods or services in a contract with a customer, generally as title and risk of loss pass to the customer, in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. Revenue is recognized only to the extent that it is probable that a significant reversal of revenue will not occur and when collection is considered probable. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined its contracts do not include a significant financing component. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from revenue. Shipping and handling costs billed to customers are included in revenue and the related costs are included in cost of revenue when incurred. The Company presents amounts collected from customers for sales and other taxes net of the related amounts remitted.

The design, assembly, and installation of a System includes substantive customer-specified acceptance criteria that allow the customer to accept or reject Systems that do not meet the customer’s specifications. When the Company cannot objectively determine that acceptance criteria will be met upon contract inception, revenue relating to Systems is deferred and recognized at a point in time upon final acceptance from the customer. If acceptance can be reasonably certain upon contract inception, revenue is recognized over time based on an input method, using a cost-to-cost measure of progress. Under this method, revenue is recorded based on the ratio of costs incurred over total estimated contract costs. This method provides a faithful depiction of the transfer of the System to the customer because the costs incurred represent the Company’s inputs towards satisfying the performance obligation.

Disaggregation of Revenue

The Company provides disaggregation of revenue based on product and service type on the consolidated statements of operations as it believes these categories best depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

Contract Balances

The following table provides information about accounts receivable, unbilled accounts receivable, and contract liabilities from contracts with customers (in thousands):


	December 28, 2024		September 28, 2024
Accounts receivable	$	134,391	$	201,548
Unbilled accounts receivable	$	223,349	$	218,233
Contract liabilities	$	863,886	$	805,547

The change in the opening and closing balances of the Company’s accounts receivable primarily results from the increase in customer System implementations in the current fiscal year as well as the timing of when customer payments are due. The change in the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and customer payments. The Company’s performance obligations are typically satisfied over time as work is performed. Payment from customers can vary, and is often received in advance of satisfaction of the performance obligations, resulting in a contract liability balance. During the three months ended December 28, 2024, the Company recognized $101.1 million of the contract liability balance at September 28, 2024, as revenue upon transfer of the products or services to customers. During the three months ended December 30, 2023, the Company recognized $249.7 million of the contract liability balance at September 30, 2023, as revenue upon transfer of the products or services to customers.

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price allocated to performance obligations not delivered, or partially undelivered, at the end of the reporting period. Remaining performance obligations include deferred revenue plus unbilled amounts not yet recorded in deferred revenue. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in scope of contracts, periodic revalidation, adjustments for revenue that have not materialized, adjustments for inflation, and adjustments for currency. The definition of remaining performance obligations excludes those contracts that provide the customer with the right to cancel or terminate the contract without incurring a substantial penalty as well as operation services contracts. For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of December 28, 2024 was $22.4 billion, which is primarily comprised of undelivered or partially undelivered Systems under contract, and which a substantial majority relates to undelivered or partially undelivered Systems in connection with the Master Automation Agreement (“MAA”) with Walmart Inc. (“Walmart”) to implement Systems in all of Walmart’s 42 regional distribution centers, and in connection with the Commercial Agreement with GreenBox (as defined below) under which Symbotic will implement its System into GreenBox distribution center locations. As the Company accounts for GreenBox as an equity method investment, the remaining performance obligation includes the Company’s proportionate share of unconsolidated variable interest entity contracts. The Company expects to recognize approximately 11% of its remaining performance obligations as revenue in the next 12 months, approximately 57% of its remaining performance obligations as revenue within the next 13 to 60 months, and the remaining thereafter, which is dependent on the timing of System installation timelines. The Company does not disclose the value of remaining performance obligations for contracts with an original expected duration of one year or less.

Significant Customers

For the three months ended December 28, 2024 and December 30, 2023, there was one customer, including all affiliates, subsidiaries, and consolidated entities, that individually accounted for 10% or more of total revenue. The following table represents this customer’s aggregate percent of total revenue.


	Three Months Ended
	December 28, 2024		December 30, 2023
Customer A	86.1	%	82.0	%

At December 28, 2024 and September 28, 2024, there was one customer that accounted for over 10% of the Company’s accounts receivable balance. The following table represents this customer’s aggregate percent of total accounts receivable.


	December 28, 2024		September 28, 2024
Customer A	89.5	%	92.8	%

The concentration in the volume of business transacted with this customer may lead to a material impact on the Company’s results from operations if a total or partial loss of the business relationship were to occur. As of the date of the issuance of these financial statements, the Company is not aware of any specific event or circumstance which would result in a material adverse impact to its results of operations or liquidity and financial condition.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Intangible Assets (Tables)

3 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The following table presents the developed technology intangible assets that are subject to amortization as of December 28, 2024 (in thousands). There were no acquired intangible assets that are subject to amortization as of December 30, 2023.


	Developed Technology
Balance at December 28, 2024, gross	$	15,861
Accumulated amortization	(912)
Balance at December 28, 2024, net	$	14,949

Schedule of Intangible Asset Future Amortization

The following table presents the estimated future annual pre-tax amortization expense of definite-lived intangible assets as of the date indicated (in thousands):


	Total
Fiscal year 2025	$	3,963
Fiscal year 2026	5,285
Fiscal year 2027	5,037
Fiscal year 2028	664
Total	$	14,949

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 28, 2024	Dec. 31, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	$ 14,949
Amortization expense	700
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	$ 14,949		$ 0
Developed Technology Rights \| Subsequent Event
Finite-Lived Intangible Assets [Line Items]
Developed technology intangible assets		$ 15,900
Acquired finite-lived intangible assets, weighted average useful life		3 years
Developed technology intangible assets amortized over a useful life		3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Commitments and Contingencies (Tables)

3 Months Ended

Dec. 28, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Warranty Accrual

Activity related to the warranty accrual is as follows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Balance at beginning of period	$	31,935	$	18,948
Provision	7,320		6,195
Warranty usage	(2,392)		(2,820)
Balance at end of period	$	36,863	$	22,323

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 6.2	$ 2.3

Noncontrolling Interests

3 Months Ended

Dec. 28, 2024

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling interests represent the portion of net assets in consolidated entities that are not owned by the Company.

The following table summarizes the ownership of Symbotic stock for the three months ended December 28, 2024.


	Class A Common Stock	Class V-1 and Class V-3 Common Stock	Total	Class A Common Stock		Class V-1 and Class V-3 Common Stock		Total
Balance at September 28, 2024	104,689,377	481,274,582	585,963,959
Issuances	1,652,671	—	1,652,671
Exchanges	179,867	(179,867)	—
Cancellations	—	(196,901)	(196,901)
Balance at December 28, 2024	106,521,915	480,897,814	587,419,729	18.1	%	81.9	%	100	%

Net Loss per Share

3 Months Ended

Dec. 28, 2024

Earnings Per Share [Abstract]

Net Loss per Share

Basic earnings per share of Class A common stock is computed by dividing net loss attributable to common shareholders by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net loss attributable to common shareholders adjusted for the assumed exchange of all potentially dilutive securities, by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. Since the Company incurred net losses for each of the periods presented, diluted net loss per share is the same as basic net loss per share.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock (in thousands, except per share information):


	Three Months Ended
	December 28, 2024		December 30, 2023
Numerator - basic and diluted
Net loss	$	(18,520)	$	(19,072)
Less: Net loss attributable to the noncontrolling interest	(15,044)		(16,236)
Net loss attributable to common stockholders	$	(3,476)	$	(2,836)
Denominator - basic and diluted
Weighted-average shares of Class A common shares outstanding	106,098,566		83,320,943
Loss per share of Class A common stock - basic and diluted	$	(0.03)	$	(0.03)

The Company’s Class V-1 Common Stock and Class V-3 Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class V-1 Common Stock and Class V-3 Common Stock under the two-class method has not been presented.

The Company uses the treasury stock method and the average market price per share during the period for calculating any potential dilutive effect of its equity instruments. The average stock price for the three months ended December 28, 2024 was $28.49. For the three months ended December 28, 2024, there were 4.0 million potentially dilutive common stock equivalents related to the RSUs which would have been included in the diluted EPS calculation, and 5.4 million anti-dilutive common stock equivalents related to the unvested GreenBox Warrant that could potentially dilute EPS in the future.

Leases - Schedule of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Lessee, Operating Lease, Liability, to be Paid [Abstract]
Remaining fiscal year 2025	$ 2,849
Fiscal year 2026	5,293
Fiscal year 2027	5,130
Fiscal year 2028	5,299
Fiscal year 2029	5,473
Thereafter	7,099
Total future minimum payments	31,143
Less: Implied interest	(6,384)
Total lease liabilities	$ 24,759	$ 17,723

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Revenue:
Total revenue	$ 486,693	$ 359,943
Cost of revenue:
Total cost of revenue	406,654	295,886
Gross profit	80,039	64,057
Operating expenses:
Research and development expenses	43,592	42,144
Selling, general, and administrative expenses	61,076	47,012
Total operating expenses	104,668	89,156
Operating loss	(24,629)	(25,099)
Other income, net	7,823	6,199
Loss before income tax and equity method investment	(16,806)	(18,900)
Income tax expense	(150)	(172)
Loss from equity method investment	(1,564)	0
Net loss	(18,520)	(19,072)
Net loss attributable to noncontrolling interests	(15,044)	(16,236)
Net loss attributable to common stockholders	$ (3,476)	$ (2,836)
Loss per share of Class A Common Stock:
Basic (in dollars per share)	$ (0.03)	$ (0.03)
Diluted (in dollars per share)	$ (0.03)	$ (0.03)
Weighted-average shares of Class A Common Stock outstanding:
Basic (in shares)	106,098,566	83,320,943
Diluted (in shares)	106,098,566	83,320,943
Systems
Revenue:
Total revenue	$ 464,059	$ 347,705
Cost of revenue:
Total cost of revenue	381,819	283,946
Software maintenance and support
Revenue:
Total revenue	5,525	2,169
Cost of revenue:
Total cost of revenue	1,884	1,726
Operation services
Revenue:
Total revenue	17,109	10,069
Cost of revenue:
Total cost of revenue	$ 22,951	$ 10,214

Organization and Operations	3 Months Ended
Organization and Operations	Dec. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations SVF Investment Corp. 3, formerly known as SVF Investment III Corp., (“SVF 3” and, after the transactions described below, “Symbotic” or the “Company”) was a blank check company incorporated as a Cayman Islands exempted company on December 11, 2020. Warehouse Technologies LLC (“Legacy Warehouse”) was formed in December 2006 to make investments in companies that develop new technologies to improve operating efficiencies in modern warehouses. Symbotic LLC, a technology company that develops and commercializes innovative technologies for use within warehouse operations, and Symbotic Group Holdings, ULC were wholly owned subsidiaries of Legacy Warehouse. On December 12, 2021, (i) SVF 3 entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Legacy Warehouse, Symbotic Holdings LLC (“Symbotic Holdings”), and Saturn Acquisition (DE) Corp., a wholly owned subsidiary of SVF 3 (“Merger Sub”) and (ii) Legacy Warehouse entered into an Agreement and Plan of Merger (the “Company Merger Agreement”) with Symbotic Holdings. On June 7, 2022, as contemplated by the Company Merger Agreement, Legacy Warehouse merged with and into Symbotic Holdings (the “Company Reorganization”), with Symbotic Holdings surviving the merger (“Interim Symbotic”). Immediately following such merger, on June 7, 2022, as contemplated by the Merger Agreement, SVF 3 transferred by way of continuation from the Cayman Islands and domesticated as a Delaware corporation, changing its name to “Symbotic Inc.” Immediately following the domestication of SVF 3, on June 7, 2022, as contemplated by the Merger Agreement, Merger Sub merged with and into Interim Symbotic (the “Merger” and, together with the Company Reorganization, the “Business Combination”), with Interim Symbotic surviving the merger as a subsidiary of Symbotic (“New Symbotic Holdings”). Symbotic is an automation technology company established to develop technologies to improve operating efficiencies in modern warehouses. The Company’s vision is to make the supply chain work better for everyone. The Company does this by developing innovative, comprehensive technology solutions that dramatically improve supply chain operations. The Company currently automates the processing of pallets and cases in large warehouses for some of the largest retail companies in the world. Its systems enhance operations at the front end of the supply chain, and therefore benefit all supply partners further down the chain, irrespective of fulfillment strategy. The Company’s headquarters are located in Wilmington, Massachusetts, and its Canadian headquarters are located in Montreal, Quebec.

Cover - shares	3 Months Ended
Cover - shares	Dec. 28, 2024	Feb. 03, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 28, 2024
Document Transition Report	false
Entity File Number	001-40175
Entity Registrant Name	SYMBOTIC INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1572401
Entity Address, Address Line One	200 Research Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01887
City Area Code	978
Local Phone Number	284-2800
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	SYM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001837240
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--09-27
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		107,704,510
Class V-1 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		76,378,094
Class V-3 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		404,309,196

Segment and Geographic Information - Revenue by Geographical Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 486,693	$ 359,943
United States
Segment Reporting Information [Line Items]
Total revenue	486,184	358,886
International
Segment Reporting Information [Line Items]
Total revenue	$ 509	$ 1,057
International \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	0.00%	0.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Income Taxes	3 Months Ended
Income Taxes	Dec. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to its allocable share of any taxable income or loss of Symbotic Holdings, LLC. The remaining share of Symbotic Holdings income or loss is non-taxable to the Company and is not reflected in current or deferred income taxes. The Company’s foreign subsidiaries are subject to income tax in their local jurisdictions. For the three months ended December 28, 2024, the Company recorded a current income tax expense of $0.2 million, and for the three months ended December 30, 2023, the Company recorded a current income tax expense of $0.2 million. The Company incurred a pre-tax loss for the three month period and recorded a full valuation allowance against its domestic deferred tax assets and a partial valuation allowance against its foreign deferred tax assets. The Company incurs state tax expense by Symbotic at the flow-through entity level and foreign tax expense at its foreign subsidiaries. The effective tax rate for the three months ended December 28, 2024 is (0.8)% and differs from the federal statutory income tax rate primarily due to the flow-through entity level taxes and the effect of the valuation allowance against its net federal, state, and foreign deferred income taxes. As of December 28, 2024, the Company continues to conclude that the negative evidence regarding its ability to realize its deferred tax assets outweighs the positive evidence, and the Company has a full valuation allowance against its domestic federal and state net deferred tax assets and a partial valuation allowance against its foreign net deferred tax assets. The Company has a history of cumulative pre-tax losses for the three previous fiscal years which it believes represents significant negative evidence in evaluating whether its deferred tax assets are realizable. Given these cumulative losses, lack of forecast history, the competitive environment, and uncertainty of general economic conditions, the Company does not believe it can rely on projections of future taxable income exclusive of reversing taxable temporary differences to support the realization of its deferred tax assets. In upcoming quarters, the Company will continue to evaluate both the positive and negative evidence surrounding its ability to realize its deferred tax assets. Tax Receivable Agreement As of December 28, 2024 future payments under the Tax Receivable Agreement (“TRA”) with respect to the purchase of Symbotic Holdings units which occurred as part of or subsequent to the Business Combination are expected to be $409.1 million. Payments made under the TRA represent payments that otherwise would have been made to taxing authorities in the absence of attributes obtained by the Company as a result of exchanges by its pre-IPO members. Such amounts will be paid only when a cash tax savings is realized as a result of attributes subject to the TRA. That is, payments under the TRA are only expected to be made in periods following the filing of a tax return in which the Company is able to utilize certain tax benefits to reduce its cash taxes paid to a taxing authority. The impact of any changes in the projected obligations under the TRA as a result of changes in the geographic mix of the Company’s earnings, changes in tax legislation and tax rates or other factors that may impact the Company’s tax savings will be reflected in income or loss before taxes on the consolidated statement of operations in the period in which the change occurs. As of December 28, 2024, no TRA liability was recorded based on current projections of future taxable income taking into consideration the Company’s full valuation allowance against its net deferred tax asset.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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+ Details

Segment and Geographic Information - Narrative (Details)	3 Months Ended
	Dec. 28, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Statement of Comprehensive Income [Abstract]
Changes in unrealized gain on investments, tax	$ 0	$ 0

Subsequent Events (Details) - Subsequent Event - WASR $ in Thousands	Jan. 27, 2025 USD ($) apd
Subsequent Event [Line Items]
Payments to acquire businesses	$ 200,000
Contingent consideration, milestone, warrant exercise period	30 days
Contingent consideration, milestone, number of units \| apd	220
Contingent consideration, asset, receivable	$ 520,000
Contingent consideration, asset, receivable, current	230,000
Contingent consideration, asset, receivable, after year one	165,000
Contingent consideration, asset, receivable, after year two	125,000
Preliminary purchase price	200,000
First APD
Subsequent Event [Line Items]
Contingent consideration	$ 175,000
Contingent consideration, number of units \| apd	400
Additional APD Option
Subsequent Event [Line Items]
Contingent consideration	$ 175,000
Contingent consideration, number of units \| apd	200

Stock-Based Compensation and Warrants - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 26,773	$ 29,462
Cost of revenue \| Systems
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,148	2,715
Cost of revenue \| Software maintenance and support
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	97	175
Cost of revenue \| Operation services
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	464	541
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	10,554	12,297
Selling, general, and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	12,510	13,734
RSUs (service-based and performance-based)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	25,823	28,987
Employee stock purchase plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 950	$ 475

Variable Interest Entities (“VIE”)

3 Months Ended

Dec. 28, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities (“VIE”)

VIEs are entities with any of the following characteristics: (i) the entity does not have enough equity to finance its activities without additional financial support; (ii) the equity holders, as a group, lack the characteristics of a controlling financial interest; or (iii) the entity is structured with non-substantive voting rights.

Consolidation of a VIE is required for the party deemed to be the primary beneficiary, if any. The primary beneficiary is the party who has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity.

On July 23, 2023, the Company, New Symbotic Holdings, and Symbotic LLC (collectively, the “Symbotic Group”), entered into a Framework Agreement (the “Framework Agreement”) with Sunlight Investment Corp., a Delaware corporation (“Sunlight”), SVF II Strategic Investments AIV LLC, a Delaware limited liability company (“SVF” and, together with

Sunlight, “SoftBank”), and GreenBox Systems LLC, a Delaware limited liability company (“GreenBox”), related to, among other things, the formation of GreenBox as a venture between the Symbotic Group and SoftBank and a warrant to purchase Class A Common Stock of Symbotic (the “GreenBox Warrant”). On July 23, 2023, GreenBox also entered into a Master Services, License and Equipment Agreement with Symbotic LLC with respect to the purchase of Systems (“GreenBox Commercial Agreement”).

GreenBox was established on July 21, 2023, to build and automate supply chain networks globally by operating and financing the Company’s advanced artificial intelligence and automation technology for the warehouse. Symbotic Holdings and Sunlight own 35% and 65% of GreenBox, respectively. The Company evaluated for VIEs upon the formation of GreenBox in accordance with ASC 810, Consolidation. The Company holds a variable interest in GreenBox through its equity interest in GreenBox. GreenBox is a VIE resulting from GreenBox’s lack of sufficient equity to finance its operations without additional subordinated financial support from both the Company and SoftBank. The consolidation of GreenBox is not required as the Company is not the primary beneficiary of this VIE as it does not have the power to direct the activities that most significantly impact GreenBox’s economic performance. Such power is conveyed through GreenBox’s board of directors and the Company does not have control over GreenBox’s board of directors.

The Company’s recorded investments in the unconsolidated VIE and related estimated maximum exposure to loss are as follows (in thousands):


	December 28, 2024
	Investments in Unconsolidated VIE		Symbotic's Maximum Exposure to Loss
GreenBox Systems LLC	$	85,946	$	1,635,200

The Company calculated its maximum exposure to loss while considering its equity investment in the VIE, any amounts owed to the Company for services which may have been provided, and future funding commitments of $1,633.2 million. As of December 28, 2024, there is a $85.9 million carrying value of the VIE which represents the amount which the Company has invested in the VIE, net of the Company’s proportionate share of the VIE’s net loss. The Company’s maximum exposure to loss as displayed above does not take into consideration the VIE’s commitment under the GreenBox Commercial Agreement to reimburse the Company in the event of a termination. If the VIE’s commitment under the GreenBox Commercial Agreement was taken into consideration, there would be no maximum exposure to loss presented as the VIE’s commitment under the GreenBox Commercial Agreement exceeds the Company’s future funding commitments.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Dec. 28, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table summarizes the end-of-period cash and cash equivalents from the Company’s Consolidated Balance Sheets and the total cash, cash equivalents, and restricted cash as presented on the accompanying Consolidated Statements of Cash Flows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Cash and cash equivalents	$	903,034	$	485,952
Restricted cash classified in:
Prepaid expenses and other current assets	870		—
Other assets	2,182		2,150
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	906,086	$	488,102

Schedule of Restricted Cash


	Three Months Ended
	December 28, 2024		December 30, 2023
Cash and cash equivalents	$	903,034	$	485,952
Restricted cash classified in:
Prepaid expenses and other current assets	870		—
Other assets	2,182		2,150
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	906,086	$	488,102

Unaudited Condensed Consolidated Statements of Changes in Equity (Deficit) - USD ($)	Total	Common Stock Class A Common Stock	Common Stock Class V-1 Common Stock	Common Stock Class V-3 Common Stock	Additional Paid-in Capital - Warrants	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Noncontrolling Interest
Beginning balance (in shares) at Sep. 30, 2023		82,112,881	66,931,097	407,528,941
Beginning balance at Sep. 30, 2023	$ (2,716,000)	$ 8,000	$ 7,000	$ 41,000	$ 58,126,000	$ 1,254,022,000	$ (1,687,000)	$ (1,310,435,000)	$ (2,798,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(19,072,000)							(2,836,000)	(16,236,000)
Issuance of common stock under stock plans, net of shares withheld for employee taxes (in shares)		665,842
Issuance of common stock under stock plans, net of shares withheld for employee taxes	(58,000)					(8,000)			(50,000)
Exchange of common stock (in shares)		2,327,865	(1,311,865)
Exchange of common stock	0	$ 2,000	$ (2,000)	$ (1,016,000)		(536,000)			536,000
Stock-based compensation	29,462,000					4,375,000			25,087,000
Other comprehensive loss	(551,000)						(83,000)		(468,000)
Exercise of warrants (in shares)			15,870,411
Exercise of warrants	158,705,000		$ 3,000		(58,126,000)				216,828,000
Ending balance (in shares) at Dec. 30, 2023		85,106,588	81,489,643	406,512,941
Ending balance at Dec. 30, 2023	165,770,000	$ 10,000	$ 8,000	$ 41,000	$ 0	1,257,853,000	(1,770,000)	(1,313,271,000)	222,899,000
Beginning balance (in shares) at Sep. 28, 2024		104,689,377	76,965,386	404,309,196
Beginning balance at Sep. 28, 2024	390,130,000	$ 13,000	$ 7,000	$ 40,000		1,523,692,000	(2,594,000)	(1,323,925,000)	192,897,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(18,520,000)							(3,476,000)	(15,044,000)
Issuance of common stock under stock plans, net of shares withheld for employee taxes (in shares)		1,652,671
Issuance of common stock under stock plans, net of shares withheld for employee taxes	(3,012,000)					(3,012,000)
Exchange of common stock (in shares)		179,867	(179,867)
Exchange of common stock	0					1,044,000			(1,044,000)
Cancellation of Class V-1 common stock (in shares)			(196,901)
Stock-based compensation	26,740,000					4,849,000			21,891,000
Other comprehensive loss	(563,000)						(102,000)		(461,000)
Distribution to Symbotic Holdings LLC partners	(850,000)								(850,000)
Ending balance (in shares) at Dec. 28, 2024		106,521,915	76,588,618	404,309,196
Ending balance at Dec. 28, 2024	$ 393,925,000	$ 13,000	$ 7,000	$ 40,000		$ 1,526,573,000	$ (2,696,000)	$ (1,327,401,000)	$ 197,389,000

Commitments and Contingencies

3 Months Ended

Dec. 28, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Purchase Obligations

The Company has contractual obligations to purchase goods or services, which specify significant terms, including fixed or minimum quantities to be purchased and fixed minimum, or variable price provisions. The majority of the purchase commitments covered by these arrangements are for periods of less than one year and aggregate to approximately $1.3 billion as of December 28, 2024.

Lease Commitments

The Company leases certain of its facilities under operating leases expiring in various years through 2030. Refer to Note 5, Leases for a schedule of future lease payments under non-cancellable leases as of December 28, 2024.

Warranty

The Company provides a limited warranty on its System and has established a reserve for warranty obligations based on estimated warranty costs. The reserve is included as part of “accrued expenses and other current liabilities” and “other liabilities” in the accompanying consolidated balance sheets.

Activity related to the warranty accrual is as follows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Balance at beginning of period	$	31,935	$	18,948
Provision	7,320		6,195
Warranty usage	(2,392)		(2,820)
Balance at end of period	$	36,863	$	22,323

Legal Matters

The Company is subject from time to time to various claims, lawsuits and other legal and administrative proceedings. Some of these claims, lawsuits and other proceedings may involve highly complex issues that are subject to substantial uncertainties, and could result in damages, fines and penalties, non-monetary sanctions or relief.

The Company recognizes provisions for claims or pending litigation when it is determined that an unfavorable outcome is probable, and the amount of loss can be reasonably estimated. Due to the inherent uncertain nature of litigation, the ultimate outcome or actual cost of settlement may materially vary from estimates.

SEC Matters

The Company has been responding to requests for information from the SEC relating to an investigation by the SEC of alleged violations by the Company of Rule 21F-17, which prohibits actions to impede communications directly with the SEC staff about a possible securities law violation. The Company intends to continue to defend this matter vigorously and cannot predict the outcome of this investigation.

The Company has received a subpoena from the SEC relating to its November 2024 restatement of revenues for the year ended September 28, 2024 and certain other matters. The Company is cooperating with the SEC with respect to this matter.

Securities Class Actions

On August 14, 2024, a putative class action captioned Fox v. Symbotic Inc. et al., Case No. 24-cv-12090 was filed in the United States District Court for the District of Massachusetts by an alleged holder of the Company’s common stock. The complaint asserts claims for violations of federal securities laws against the Company and two of its officers on the grounds that, among other things, the Company made false and/or misleading statements related to its expected earnings for the third quarter of fiscal year 2024. Based on these allegations, the plaintiff brings claims seeking unspecified damages, attorneys’ fees, expert fees, and other costs and relief on behalf of herself and a putative class of persons who purchased the Company’s stock between May 6, 2024 and July 29, 2024. On September 11, 2024, the court entered a stipulation staying the Company’s deadline to respond to the complaint until after a lead plaintiff has been appointed pursuant to the Private Securities Litigation Reform Act. As of February 3, 2025, a lead plaintiff has not been appointed. On December 20, 2024, the plaintiff filed a motion to consolidate this matter with another putative class action captioned Decker v. Symbotic Inc. et al. (further described below). As of February 3, 2025, the court has not yet ruled on the pending motion to consolidate.

On December 3, 2024, a putative class action captioned Decker v. Symbotic Inc. et al., Case No. 24-cv-12976 was filed in the United States District Court for the District of Massachusetts by an alleged purchaser of the Company’s common stock. The complaint asserts claims for violations of federal securities laws against the Company and three of its officers on the grounds that the Company made false and/or misleading statements related to its revenue recognition and the effectiveness of its disclosure controls and procedures. Based on these allegations, the plaintiff brings claims seeking unspecified damages, attorneys’ fees, expert fees, and other costs and relief on behalf of himself and a putative class of persons who purchased the Company’s stock between February 8, 2024 and November 26, 2024. The parties have filed a stipulation staying the Company’s deadline to respond to the complaint until after a pending motion to consolidate is resolved and a lead plaintiff has been appointed pursuant to the Private Securities Litigation Reform Act.

The Company intends to vigorously defend these cases. If a court ultimately determines that the Company is liable in either or both of these cases, the Company may be subject to substantial damages. The Company cannot predict with any

degree of certainty the outcome of these matters or determine the extent of any potential liabilities. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in these matters could expose the Company to substantial damages that may have a material adverse impact on its operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of these proceedings will have a material adverse effect on its financial condition, although the outcome could be material to its operating results for any particular period, depending, in part, upon the operating results for such period.

Shareholder Derivative Actions

On October 2, 2024, two putative shareholder derivative actions captioned Austen v. Cohen et al., 24-cv-12522 and Kukreja v. Cohen et al., 24-cv-12523 were filed in the United States District Court for the District of Massachusetts by the Company’s alleged shareholders. The actions assert claims on behalf of the Company against certain senior officers and members of its board of directors for, among others, breach of fiduciary duty, unjust enrichment, and violations of federal securities laws based primarily on allegations that the defendants caused or allowed the Company to disseminate misleading and inaccurate information to shareholders in connection with the Company’s expected earnings for the third quarter of fiscal year 2024. The actions also contend that the defendants wasted corporate assets by exposing the Company to the securities class action lawsuit filed on August 14, 2024. The actions seek compensatory damages, changes to corporate governance and internal procedures, restitution, costs and attorneys’ fees, and other unspecified relief. Motions to consolidate the two actions into a single matter, appoint lead plaintiffs’ counsel, and stay any obligation of the defendants to respond to the complaint based on the pendency of the related Fox v. Symbotic securities class action lawsuit remain pending.

The Company intends to vigorously defend these cases. If a court ultimately determines that the Company is liable, the Company may be subject to substantial damages. The Company cannot predict with any degree of certainty the outcome of this matter or determine the extent of any potential liabilities. The Company also cannot provide an estimate of the possible loss or range of loss. Any adverse outcome in this matter could expose the Company to substantial damages that may have a material adverse impact on its operations and cash flows. Despite the potential for significant damages, the Company does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on its financial condition, although the outcome could be material to its operating results for any particular period, depending, in part, upon the operating results for such period.

Contingencies

Liabilities for any loss contingencies arising from claims, assessments, litigation, fines, penalties, and other matters are recorded when it is probable that the liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs associated with loss contingencies are expensed as incurred. As of December 28, 2024, the Company had made appropriate provisions related to such matters and does not believe that such matters will have a material adverse effect on the Company’s consolidated operations, financial position, or liquidity.

Indemnifications

In the ordinary course of business, the Company enters into various contracts under which it may agree to indemnify other parties for losses incurred from certain events as defined in the relevant contract, such as litigation, regulatory penalties, or claims relating to past performance. Such indemnification obligations may not be subject to maximum loss clauses. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification obligations. As a result, the Company believes the estimated fair value of these obligations is not material. Accordingly, the Company has no liabilities recorded for these obligations as of December 28, 2024 and September 28, 2024.

Property and Equipment

3 Months Ended

Dec. 28, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment at December 28, 2024 and September 28, 2024 consists of the following (in thousands):


	December 28, 2024		September 28, 2024
Computer equipment and software, furniture and fixtures, and test and other equipment	$	128,072	$	114,515
Internal use software	6,753		7,141
Leasehold improvements	10,129		9,576
Total property and equipment	144,954		131,232
Less accumulated depreciation	(39,875)		(34,123)
Property and equipment, net	$	105,079	$	97,109

For the three months ended December 28, 2024 and December 30, 2023, depreciation expense was $6.2 million and $2.3 million, respectively.

Noncontrolling Interests (Tables)

3 Months Ended

Dec. 28, 2024

Noncontrolling Interest [Abstract]

Schedule of Common Stock Outstanding

The following table summarizes the ownership of Symbotic stock for the three months ended December 28, 2024.


	Class A Common Stock	Class V-1 and Class V-3 Common Stock	Total	Class A Common Stock		Class V-1 and Class V-3 Common Stock		Total
Balance at September 28, 2024	104,689,377	481,274,582	585,963,959
Issuances	1,652,671	—	1,652,671
Exchanges	179,867	(179,867)	—
Cancellations	—	(196,901)	(196,901)
Balance at December 28, 2024	106,521,915	480,897,814	587,419,729	18.1	%	81.9	%	100	%

Leases - Balance Sheet Location of Operating Leases (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
ROU assets:
Operating lease, right-of-use asset	$ 21,925	$ 15,257
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Lease Liabilities:
Operating lease, liability, current	$ 2,244	$ 1,647
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses	Accrued expenses
Operating lease, liability, noncurrent	$ 22,515	$ 16,076
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Total lease liabilities	$ 24,759	$ 17,723

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - shares	Dec. 28, 2024	Sep. 28, 2024
Common stock, outstanding (in shares)	587,419,729	585,963,959
Class A Common Stock
Common stock, authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, issued (in shares)	106,521,915	104,689,377
Common stock, outstanding (in shares)	106,521,915	104,689,377
Class V-1 Common Stock
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	76,588,618	76,965,386
Common stock, outstanding (in shares)	76,588,618	76,965,386
Class V-3 Common Stock
Common stock, authorized (in shares)	450,000,000	450,000,000
Common stock, issued (in shares)	404,309,196	404,309,196
Common stock, outstanding (in shares)	404,309,196	404,309,196

Stock-Based Compensation and Warrants - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	Jul. 23, 2023 tranche $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 28, 2024 shares	May 20, 2022 distribution_center $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of distribution centers \| distribution_center				42
May 2022 Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value of warrants or rights (in dollars per share) \| $ / shares				$ 224.45
June 2022 Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants authorized (in shares)				15,870,411
Walmart Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrant exercises \| $		$ 158.7
Warrant fair value \| GreenBox Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants authorized (in shares)	11,434,360
Granted (in dollars per share) \| $ / shares	$ 19.90
Number of warrant tranches \| tranche	8
Additional warrants per tranche (in shares)	1,429,295
Exercise price of warrants or rights (in dollars per share) \| $ / shares	$ 41.9719
Warrant term			36 months
Redeemed (in shares)			0
Class A Common Units \| May 2022 Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants authorized (in shares)				258,972
Class V-1 Common Stock \| Walmart Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrant exercises (in shares)		15,870,411

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Current assets:
Cash and cash equivalents	$ 903,034	$ 727,310
Accounts receivable	134,391	201,548
Unbilled accounts receivable	223,349	218,233
Inventories	108,691	106,136
Deferred expenses	3,221	1,058
Prepaid expenses and other current assets	85,740	101,252
Total current assets	1,458,426	1,355,537
Property and equipment, net	105,079	97,109
Intangible assets, net	14,949	3,664
Equity method investment	85,946	81,289
Other assets	51,222	40,953
Total assets	1,715,622	1,578,552
Current liabilities:
Accounts payable	206,324	175,188
Accrued expenses	203,353	165,644
Deferred revenue	787,174	676,314
Total current liabilities	1,196,851	1,017,146
Deferred revenue	76,712	129,233
Other liabilities	48,134	42,043
Total liabilities	1,321,697	1,188,422
Commitments and contingencies (Note 13)	0	0
Equity:
Additional paid-in capital	1,526,573	1,523,692
Accumulated deficit	(1,327,401)	(1,323,925)
Accumulated other comprehensive loss	(2,696)	(2,594)
Total stockholders' equity	196,536	197,233
Noncontrolling interest	197,389	192,897
Total equity	393,925	390,130
Total liabilities and equity	1,715,622	1,578,552
Class A Common Stock
Equity:
Common stock, value, issued	13	13
Class V-1 Common Stock
Equity:
Common stock, value, issued	7	7
Class V-3 Common Stock
Equity:
Common stock, value, issued	$ 40	$ 40

Fair Value Measures

3 Months Ended

Dec. 28, 2024

Fair Value Disclosures [Abstract]

Fair Value Measures

The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:

Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market

Level 2 – inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability

Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability

The following table presents the Company’s financial assets measured and recorded at fair value on a recurring basis using the above input categories as of December 28, 2024 and September 28, 2024 (in thousands):


	December 28, 2024								September 28, 2024
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	787,697	$	—	$	—	$	787,697	$	712,958	$	—	$	—	$	712,958
Warrant fair value	—		12,308		—		12,308		—		12,308		—		12,308
Total assets	$	787,697	$	12,308	$	—	$	800,005	$	712,958	$	12,308	$	—	$	725,266

The Company had no liabilities measured and recorded at fair value on a recurring basis as of December 28, 2024 and September 28, 2024.

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. At December 28, 2024, the fair value of the warrant issued as described in Note 11, Derivative Instruments, is classified as Level 2. Level 2 securities are priced by pricing vendors. These pricing vendors utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

Segment and Geographic Information - Property and Equipment by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 28, 2024	Sep. 28, 2024
Segment Reporting Information [Line Items]
Property and equipment, net	$ 105,079	$ 97,109
United States
Segment Reporting Information [Line Items]
Property and equipment, net	104,850	96,802
International
Segment Reporting Information [Line Items]
Property and equipment, net	$ 229	$ 307
International \| Property, Plant and Equipment \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	0.00%	0.00%

Inventories (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Inventory Disclosure [Abstract]
Raw materials and components	$ 82,022	$ 72,279
Work in process	4,435	4,538
Finished goods	22,234	29,319
Total inventories	$ 108,691	$ 106,136

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (3,476)	$ (2,836)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Stock-Based Compensation and Warrants (Tables)

3 Months Ended

Dec. 28, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
RSUs (service-based and performance-based)	$	25,823	$	28,987
Employee stock purchase plan	950		475
Total stock-based compensation expense	$	26,773	$	29,462

Effect of stock-based compensation expense on income by line item (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Cost of revenue, Systems	$	3,148	$	2,715
Cost of revenue, Software maintenance and support	97		175
Cost of revenue, Operation services	464		541
Research and development	10,554		12,297
Selling, general, and administrative	12,510		13,734
Total stock-based compensation expense	$	26,773	$	29,462

Segment and Geographic Information

3 Months Ended

Dec. 28, 2024

Segment Reporting [Abstract]

Segment and Geographic Information

The Company operates as one operating segment. Revenue and property and equipment, net by geographic region, based on physical location of the operations recording the sale or the assets are as follows:

Revenue by geographical region for the three months ended December 28, 2024 and December 30, 2023 are as follows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
United States	$	486,184	$	358,886
International	509		1,057
Total revenue	$	486,693	$	359,943
Percentage of revenue generated outside of the United States	nil		nil

Total property and equipment, net by geographical region at December 28, 2024 and at September 28, 2024 are as follows (in thousands):


	December 28, 2024		September 28, 2024
United States	$	104,850	$	96,802
International	229		307
Total property and equipment, net	$	105,079	$	97,109
Percentage of property and equipment, net held outside of the United States	nil		nil

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 144,954	$ 131,232
Less accumulated depreciation	(39,875)	(34,123)
Property and equipment, net	105,079	97,109
Computer equipment and software, furniture and fixtures, and test and other equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	128,072	114,515
Internal use software
Property, Plant and Equipment [Line Items]
Total property and equipment	6,753	7,141
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 10,129	$ 9,576

Intangible Assets - Schedule of Intangible Asset Future Amortization (Details) $ in Thousands	Dec. 28, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Fiscal year 2025	$ 3,963
Fiscal year 2026	5,285
Fiscal year 2027	5,037
Fiscal year 2028	664
Total	$ 14,949

Derivative Instruments	3 Months Ended
Derivative Instruments	Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments During fiscal year 2024, the Company entered into warrant agreements and a development and supply agreement with a supplier which, subject to meeting certain conditions, will entitle the Company to acquire a fixed number of shares of the supplier during the period of time set forth in the warrant agreements. The warrants vest in a series of tranches, at a specified price per share, upon meeting certain development and production-based milestones. If, and when, the relevant milestone is reached, the corresponding tranche of warrant will become exercisable up until the expiration date of the warrants in May 2044. The warrants are accounted for as a derivative under ASC 815, Derivatives and Hedging, as a result of certain net settlement provisions in the warrant agreements. The Company reports the warrants at their fair values within “other assets” in its condensed consolidated balance sheets and changes in the fair value of the warrants are recognized in “other income, net” on its condensed consolidated statements of operations. The day-one value attributable to the other side of the warrants is reported within “other liabilities” in the Company’s condensed consolidated balance sheets and will be amortized over the life of the applicable development and production milestones as determined in the development and supply agreement. The fair value of the warrants recognized within “other assets” on the Company’s condensed consolidated balance sheets at December 28, 2024 is $12.3 million. There is no impact recorded to “other income, net” on the Company’s condensed consolidated statements of operations for the period ended December 28, 2024, as there has been no change to the fair value of the warrants since the Company entered into these warrant agreements in the third quarter of fiscal year 2024.

Net Loss per Share - Computation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Numerator - basic and diluted
Net loss	$ (18,520)	$ (19,072)
Less: Net loss attributable to the noncontrolling interest	(15,044)	(16,236)
Net loss attributable to common stockholders	$ (3,476)	$ (2,836)
Denominator - basic and diluted
Weighted-average shares of Class A common shares outstanding - basic (in shares)	106,098,566	83,320,943
Weighted-average shares of Class A common shares outstanding - diluted (in shares)	106,098,566	83,320,943
Loss per share of Class A common stock - basic (in dollars per share)	$ (0.03)	$ (0.03)
Loss per share of Class A common stock - diluted (in dollars per share)	$ (0.03)	$ (0.03)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Revenue - Schedule of Contract Balances (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 134,391	$ 201,548
Unbilled accounts receivable	223,349	218,233
Contract liabilities	$ 863,886	$ 805,547

Fair Value Measures - Fair Value, Assets Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($)	Dec. 28, 2024	Sep. 28, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	$ 800,005,000	$ 725,266,000
Total liabilities	0	0
Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	787,697,000	712,958,000
Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	12,308,000	12,308,000
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	0	0
Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	787,697,000	712,958,000
Money market funds \| Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	787,697,000	712,958,000
Money market funds \| Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	0	0
Money market funds \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	0	0
Warrant fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	12,308,000	12,308,000
Warrant fair value \| Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	0	0
Warrant fair value \| Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	12,308,000	12,308,000
Warrant fair value \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total assets	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Subsequent Events	3 Months Ended
Subsequent Events	Dec. 28, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed consolidated financial statements were issued. Other than as described in these unaudited condensed consolidated financial statements and below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements. On January 15, 2025, the Company entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Walmart, pursuant to which, among other things, the Company agreed to acquire from Walmart all of the issued and outstanding equity interests in Walmart Advanced Systems & Robotics Inc. (“WASR”), a Delaware corporation and wholly owned subsidiary of Walmart. The Purchase Agreement provides that, subject to the terms and conditions set forth therein, Symbotic will pay to Walmart, (a) upon the closing (the “Closing”) of the transactions contemplated by the Purchase Agreement, $200 million in cash, subject to customary adjustments for cash, indebtedness and transaction expenses (the “Base Consideration”), and (b) deferred cash consideration following the Closing of (i) $175 million, payable only upon acceptance of the first APD (as defined below) under the terms of the Walmart Commercial Agreement (as defined below) by Walmart, and (ii) $175 million, payable only upon Walmart’s exercise of the Additional APD Option (as defined below). As stated below, the acquisition closed on January 27, 2025, and the Company paid Walmart $200 million in cash. The Purchase Agreement also contemplates that, immediately prior to or at the Closing, the Company and Walmart (or their respective affiliates) will enter into a number of ancillary agreements, including (a) a transition services agreement, pursuant to which Walmart and its affiliates will provide certain transition services to Symbotic LLC and affiliates thereof for a period following the Closing, subject to the terms and conditions set forth therein, and (b) an intellectual property agreement, pursuant to which Walmart and its affiliates will grant to the Company and its affiliates certain licenses concerning intellectual property assets relating to the operation of the Business (as defined in the Purchase Agreement), subject to the terms and conditions set forth therein. Contemporaneously with the Closing, Symbotic LLC and Walmart entered into a Master Automation Agreement (the “Walmart Commercial Agreement”), which sets forth the terms and conditions governing the development, manufacture and installation of accelerated pickup and delivery systems (“APDs”) by Symbotic LLC for Walmart. The Walmart Commercial Agreement provides for a commitment, subject to the satisfaction of defined system performance metrics of the APDs, from Walmart to purchase 400 APDs, with an option for Walmart to purchase an additional 200 APDs (the “Additional APD Option”), exercisable by Walmart within 30 days following acceptance of the 220th APD under the terms of the Walmart Commercial Agreement. For each APD, Walmart will pay Symbotic LLC: (a) the cost of implementation, including the cost of material and labor, plus a specified net profit amount; (b) for software maintenance and support; and (c) for spare parts and other miscellaneous expenses. Pursuant to the terms and conditions of the Walmart Commercial Agreement, Walmart will also pay Symbotic LLC a total of $520 million of research and development fees relating to the generation of prototypes and other research and development, with $230 million payable at Closing, $165 million payable one year after Closing and $125 million payable two years after Closing, and under certain specified circumstances if Symbotic LLC commercializes substantially similar APDs (or the software used within such APDs) with third parties, Walmart may be entitled to a royalty fee paid by Symbotic LLC. The Company completed the acquisition of WASR on January 27, 2025, with a preliminary purchase price of up to $200 million.

Related Party Transactions (Details)	3 Months Ended
Related Party Transactions (Details)	Dec. 28, 2024 USD ($) aircraft	Dec. 30, 2023 USD ($)	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)
Related Party Transaction [Line Items]
Contract liabilities	$ 863,886,000		$ 805,547,000
Remaining performance obligation, amount	22,400,000,000
Related party tax expense, due to affiliates, current	900,000
Related Party
Related Party Transaction [Line Items]
Revenues	2,200,000	$ 12,800,000
Accounts receivable	5,200,000		18,400,000
Contract liabilities	2,500,000		1,800,000
Related party tax expense, due from affiliates, current	800,000
Aircraft Time Sharing Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 400,000	200,000
Aircraft Time Sharing Agreement \| Related Party
Related Party Transaction [Line Items]
Number of aircrafts \| aircraft	2
Usage of Facility and Employee Services
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 400,000	700,000
C&S Wholesale Grocers, Inc. \| Related Party
Related Party Transaction [Line Items]
Remaining performance obligation, amount	4,600,000
GreenBox \| Related Party
Related Party Transaction [Line Items]
Revenues	2,700,000	0
Accounts receivable	0	0
Contract liabilities	77,100,000	$ 0	$ 69,100,000
Remaining performance obligation, amount	11,500,000,000
Investments in unconsolidated VIE	6,800,000			$ 0
GreenBox - Shared Services Agreement \| Related Party
Related Party Transaction [Line Items]
Accounts receivable	$ 2,000,000.0

Commitments and Contingencies - Narrative (Details)		3 Months Ended
Commitments and Contingencies - Narrative (Details)	Oct. 02, 2024 action	Dec. 28, 2024 USD ($)	Sep. 28, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase commitment, period, less than		1 year
Purchase obligation		$ 1,300,000,000
New claims filed \| action	2
Liabilities recorded for guarantor obligations		$ 0	$ 0

Revenue - Narrative (Details) $ in Millions	3 Months Ended
Revenue - Narrative (Details) $ in Millions	Dec. 28, 2024 USD ($) distribution_center	Dec. 30, 2023 USD ($)	May 20, 2022 distribution_center
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liability, revenue recognized \| $	$ 101.1	$ 249.7
Remaining performance obligation, amount \| $	$ 22,400.0
Number of distribution centers \| distribution_center			42
Walmart
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of distribution centers \| distribution_center	42
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	11.00%
Remaining performance obligation, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	57.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28 \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	13 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28 \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	60 months

Revenue (Tables)

3 Months Ended

Dec. 28, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table provides information about accounts receivable, unbilled accounts receivable, and contract liabilities from contracts with customers (in thousands):


	December 28, 2024		September 28, 2024
Accounts receivable	$	134,391	$	201,548
Unbilled accounts receivable	$	223,349	$	218,233
Contract liabilities	$	863,886	$	805,547

Schedules of Concentration Risk

The following table represents this customer’s aggregate percent of total revenue.


	Three Months Ended
	December 28, 2024		December 30, 2023
Customer A	86.1	%	82.0	%

The following table represents this customer’s aggregate percent of total accounts receivable.


	December 28, 2024		September 28, 2024
Customer A	89.5	%	92.8	%

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (18,520)	$ (19,072)
Less: Net loss attributable to noncontrolling interests	(15,044)	(16,236)
Net loss attributable to common stockholders	(3,476)	(2,836)
Other comprehensive income (loss):
Foreign currency translation adjustments	(563)	360
Changes in unrealized gain on investments, net of income taxes of $— for the three months ended December 28, 2024 and December 30, 2023	0	(911)
Total other comprehensive loss	(563)	(551)
Less: other comprehensive loss attributable to noncontrolling interests	(461)	(468)
Other comprehensive loss attributable to common stockholders	(102)	(83)
Comprehensive loss	(19,083)	(19,623)
Less: Comprehensive loss attributable to noncontrolling interests	(15,505)	(16,704)
Total comprehensive loss attributable to common stockholders	$ (3,578)	$ (2,919)

Segment and Geographic Information (Tables)

3 Months Ended

Dec. 28, 2024

Segment Reporting [Abstract]

Schedule of Revenue and Property and Equipment by Geographical Region

Revenue by geographical region for the three months ended December 28, 2024 and December 30, 2023 are as follows (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
United States	$	486,184	$	358,886
International	509		1,057
Total revenue	$	486,693	$	359,943
Percentage of revenue generated outside of the United States	nil		nil

Total property and equipment, net by geographical region at December 28, 2024 and at September 28, 2024 are as follows (in thousands):


	December 28, 2024		September 28, 2024
United States	$	104,850	$	96,802
International	229		307
Total property and equipment, net	$	105,079	$	97,109
Percentage of property and equipment, net held outside of the United States	nil		nil

Derivative Instruments (Details) $ in Millions	Dec. 28, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative asset, noncurrent, statement of financial position flag	Other assets
Derivative asset, noncurrent	$ 12.3

Net Loss per Share (Tables)

3 Months Ended

Dec. 28, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Loss Per Share


	Three Months Ended
	December 28, 2024		December 30, 2023
Numerator - basic and diluted
Net loss	$	(18,520)	$	(19,072)
Less: Net loss attributable to the noncontrolling interest	(15,044)		(16,236)
Net loss attributable to common stockholders	$	(3,476)	$	(2,836)
Denominator - basic and diluted
Weighted-average shares of Class A common shares outstanding	106,098,566		83,320,943
Loss per share of Class A common stock - basic and diluted	$	(0.03)	$	(0.03)

Inventories (Tables)

3 Months Ended

Dec. 28, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at December 28, 2024 and September 28, 2024 consist of the following (in thousands):


	December 28, 2024		September 28, 2024
Raw materials and components	$	82,022	$	72,279
Work in process	4,435		4,538
Finished goods	22,234		29,319
Total inventories	$	108,691	$	106,136

Noncontrolling Interests (Details)	3 Months Ended
Noncontrolling Interests (Details)	Dec. 28, 2024 shares
Common Stock, Shares, Outstanding [Roll Forward]
Beginning of period (in shares)	585,963,959
Issuance (in shares)	1,652,671
Exchanges (in shares)	0
Cancellations (in shares)	(196,901)
End of period (in shares)	587,419,729
Symbotic, Inc.
Common Stock, Shares, Outstanding [Roll Forward]
Ownership percentage	100.00%
Class A Common Stock
Common Stock, Shares, Outstanding [Roll Forward]
Beginning of period (in shares)	104,689,377
Issuance (in shares)	1,652,671
Exchanges (in shares)	179,867
Cancellations (in shares)	0
End of period (in shares)	106,521,915
Class A Common Stock \| Symbotic, Inc.
Common Stock, Shares, Outstanding [Roll Forward]
Ownership percentage	18.10%
Class V-1 and Class V-3 Common Stock
Common Stock, Shares, Outstanding [Roll Forward]
Beginning of period (in shares)	481,274,582
Issuance (in shares)	0
Exchanges (in shares)	(179,867)
Cancellations (in shares)	(196,901)
End of period (in shares)	480,897,814
Class V-1 and Class V-3 Common Stock \| Symbotic, Inc.
Common Stock, Shares, Outstanding [Roll Forward]
Ownership percentage	81.90%

Leases - Narrative (Details) $ in Millions	3 Months Ended
Leases - Narrative (Details) $ in Millions	Dec. 28, 2024 USD ($)
Leases [Abstract]
Operating lease, weighted average incremental borrowing rate	7.60%
Operating lease, weighted average remaining lease term	5 years 8 months 12 days
Operating lease, payments	$ 0.4

Leases

3 Months Ended

Dec. 28, 2024

Leases [Abstract]

Leases

The Company leases office space in Wilmington, MA, Montreal, QC, Plant City, FL, and Milpitas, CA through operating lease arrangements. The Company has no finance lease agreements. The operating lease arrangements expire at various dates through December 2030.

The following table presents the balance sheet location of the Company’s operating leases for each of the periods presented (in thousands):


	December 28, 2024		September 28, 2024
ROU assets:
Other long-term assets	$	21,925	$	15,257

Lease Liabilities:
Accrued expenses and other current liabilities	$	2,244	$	1,647
Other long-term liabilities	22,515		16,076
Total lease liabilities	$	24,759	$	17,723

The following table presents maturities of the Company’s operating lease liabilities as of December 28, 2024, presented under ASC Topic 842 (in thousands):


	December 28, 2024
Remaining fiscal year 2025	$	2,849
Fiscal year 2026	5,293
Fiscal year 2027	5,130
Fiscal year 2028	5,299
Fiscal year 2029	5,473
Thereafter	7,099
Total future minimum payments	$	31,143
Less: Implied interest	(6,384)
Total lease liabilities	$	24,759

The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of operating lease payments. To determine the estimated incremental borrowing rate, the Company uses publicly available credit ratings for peer companies. The Company estimates the incremental borrowing rate using yields for maturities that are in line with the duration of the lease payments. The weighted average discount rate for operating leases as of December 28, 2024 was 7.6%.

As of December 28, 2024, the weighted-average remaining lease term of the Company’s operating leases was approximately 5.7 years. Operating cash flows for amounts included in the measurement of the Company’s operating lease liabilities were $0.4 for the three months ended December 28, 2024.

Variable Interest Entities (“VIE”) - Schedule of Variable Interest Entities (Details)	Dec. 28, 2024 USD ($)
Variable Interest Entity [Line Items]
Symbotic's Maximum Exposure to Loss	$ 1,633,200,000
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments in Unconsolidated VIE	85,946,000
Symbotic's Maximum Exposure to Loss	$ 1,635,200,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Intangible Assets

3 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

In connection with asset acquisitions in July and December 2024, the Company acquired developed technology intangible assets of $15.9 million. The developed technology intangible assets will be amortized over a useful life of 3 years on a straight-line basis. The estimated weighted average useful life of the developed technology intangible asset is 3 years.


	Developed Technology
Balance at December 28, 2024, gross	$	15,861
Accumulated amortization	(912)
Balance at December 28, 2024, net	$	14,949

Amortization expense was $0.7 million for the three months ended December 28, 2024.

The following table presents the estimated future annual pre-tax amortization expense of definite-lived intangible assets as of the date indicated (in thousands):


	Total
Fiscal year 2025	$	3,963
Fiscal year 2026	5,285
Fiscal year 2027	5,037
Fiscal year 2028	664
Total	$	14,949

Inventories

3 Months Ended

Dec. 28, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories at December 28, 2024 and September 28, 2024 consist of the following (in thousands):


	December 28, 2024		September 28, 2024
Raw materials and components	$	82,022	$	72,279
Work in process	4,435		4,538
Finished goods	22,234		29,319
Total inventories	$	108,691	$	106,136

Fair Value Measures (Tables)

3 Months Ended

Dec. 28, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis


	December 28, 2024								September 28, 2024
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	787,697	$	—	$	—	$	787,697	$	712,958	$	—	$	—	$	712,958
Warrant fair value	—		12,308		—		12,308		—		12,308		—		12,308
Total assets	$	787,697	$	12,308	$	—	$	800,005	$	712,958	$	12,308	$	—	$	725,266

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024	Dec. 30, 2023	Sep. 30, 2023
Product Information [Line Items]
Cash and cash equivalents	$ 903,034	$ 727,310	$ 485,952
Restricted cash classified in:
Cash, cash equivalents, and restricted cash shown in the statement of cash flows	906,086	$ 730,354	488,102	$ 260,918
Prepaid expenses and other current assets
Restricted cash classified in:
Restricted cash	870		0
Other assets
Restricted cash classified in:
Restricted cash	$ 2,182		$ 2,150

Stock-Based Compensation and Warrants

3 Months Ended

Dec. 28, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation and Warrants


	Three Months Ended
	December 28, 2024		December 30, 2023
RSUs (service-based and performance-based)	$	25,823	$	28,987
Employee stock purchase plan	950		475
Total stock-based compensation expense	$	26,773	$	29,462

Effect of stock-based compensation expense on income by line item (in thousands):


	Three Months Ended
	December 28, 2024		December 30, 2023
Cost of revenue, Systems	$	3,148	$	2,715
Cost of revenue, Software maintenance and support	97		175
Cost of revenue, Operation services	464		541
Research and development	10,554		12,297
Selling, general, and administrative	12,510		13,734
Total stock-based compensation expense	$	26,773	$	29,462

Warrants

GreenBox Warrant

On July 23, 2023, the Company issued the GreenBox Warrant, which allows Sunlight to acquire up to an aggregate of 11,434,360 shares of the Company’s Class A Common Stock, subject to certain vesting conditions. The GreenBox Warrant had a grant date fair value of $19.90 per share. The GreenBox Warrant may vest in connection with conditions defined by the terms of the GreenBox Warrant, as GreenBox makes additional expenditures to the Company in connection with the Framework Agreement. There are up to eight tranches in the GreenBox Warrant based on increments of expenditures where

approximately 1,429,295 additional shares may vest per tranche, subject to certain conditions defined by the terms of the GreenBox Warrant. Upon vesting, warrant shares may be acquired at an exercise price of $41.9719. The warrant contains customary anti-dilution, down-round, and change-in-control provisions. The right to purchase shares in connection with the GreenBox Warrant expires 36 months following the end of the initial term of the Framework Agreement which is July 23, 2027, or if applicable, the extension term of the Framework Agreement, which is July 23, 2029. As of December 28, 2024, none of the GreenBox Warrant shares had vested.

Walmart Warrant

On May 20, 2022, in connection with its entry into the 2nd Amended and Restated MAA, the Company issued Walmart a warrant to acquire up to an aggregate of 258,972 Legacy Warehouse Class A Units (“May 2022 Warrant”), subject to certain vesting conditions. The May 2022 Warrant had a grant date fair value of $224.45. In connection with the closing of the Company’s initial public offering in June 2022, the May 2022 Warrant was converted into a new warrant to acquire up to an aggregate of 15,870,411 common units of Symbotic Holdings (“June 2022 Warrant” and, the common units of Symbotic Holdings issuable thereunder, the “Warrant Units”). The June 2022 Warrant vested in the second quarter of fiscal year 2023, as the installation commencement date for certain Systems which the Company is installing in Walmart’s 42 regional distribution centers had occurred. In December 2023, Walmart elected to gross exercise the vested warrants for $158.7 million. As a result of this gross exercise, 15,870,411 shares of Class V-1 Common Stock were issued to Walmart.

Commitments and Contingencies - Schedule of Warranty Accrual (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 31,935	$ 18,948
Provision	7,320	6,195
Warranty usage	(2,392)	(2,820)
Balance at end of period	$ 36,863	$ 22,323

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Cash flows from operating activities:
Net loss	$ (18,520)	$ (19,072)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	7,645	3,197
Foreign currency (gains) losses	(32)	22
Loss on disposal of assets	201	0
Provision for excess and obsolete inventory	688	70
Stock-based compensation	26,773	29,462
Changes in operating assets and liabilities:
Accounts receivable	67,376	(83,789)
Inventories	(10,425)	(1,567)
Prepaid expenses and other current assets	10,317	(32,653)
Deferred expenses	(2,164)	(7,152)
Other assets	(1,079)	(5,906)
Accounts payable	31,145	(7,261)
Accrued expenses and other current liabilities	45,540	15,716
Deferred revenue	58,336	69,966
Other liabilities	(10,774)	8,817
Net cash provided by (used in) operating activities	205,027	(30,150)
Cash flows from investing activities:
Purchases of property and equipment	(7,357)	(2,173)
Capitalization of internal use software development costs	0	(820)
Proceeds from maturities of marketable securities	0	150,000
Purchases of marketable securities	0	(48,317)
Acquisitions of strategic investments	(17,992)	0
Net cash provided by (used in) investing activities	(25,349)	98,690
Cash flows from financing activities:
Payment for taxes related to net share settlement of stock-based compensation awards	(3,012)	(56)
Proceeds from exercise of warrants	0	158,702
Distributions to or on behalf of Symbotic Holdings LLC partners	(850)	0
Net cash provided by (used in) financing activities	(3,862)	158,646
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(84)	(2)
Net increase in cash, cash equivalents, and restricted cash	175,732	227,184
Cash, cash equivalents, and restricted cash — beginning of period	730,354	260,918
Cash, cash equivalents, and restricted cash — end of period	906,086	488,102
Non-cash activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	7,988	5,818
Transfer of equipment from inventories to property and equipment	$ 7,982	$ 0