Symbotic
SYMBQ2 2024Estimated50% AI
AI Revenue %
50%
AI Fair Value
$8.7B
AI Revenue (Q)
$235.2M
Total Revenue (Q)
$470.3M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2024 (ended Mar 30, 2024) revenue was $424.3M: Systems $401.7M, SMS $2.6M, Ops $20.1M. Operation services nearly tripled YoY, indicating more operational systems requiring ongoing AI-powered support. Systems gross margin compressed to ~10.6% this quarter, indicating even heavier hardware/installation costs in the revenue mix. However, the AI control software remains the enabling technology. No explicit AI revenue disclosure. Maintaining 50% estimate. Math: ($401.7M * 0.50 + $2.6M * 0.90 + $20.1M * 0.35) / $424.3M = ($200.9M + $2.3M + $7.0M) / $424.3M = $210.2M / $424.3M = 49.5%, rounded to 50%.
Analyzed by claude-opus-4-6
Quoted Figures
Three months ended March 30, 2024: Revenue Systems $401,662K, Software maintenance and support $2,566K, Operation services $20,073K, Total $424,301K
10-Q for period ended Mar 30, 2024, Consolidated Statements of Operations
The hardware and essential software are each not capable of being distinct because our customers cannot benefit from the hardware or software on their own. Accordingly, they are treated as a single performance obligation.
10-Q for period ended Mar 29, 2025, Revenue Recognition Note
AI Products Identified (Ring 1)
Symbotic System (AI-powered autonomous warehouse robots)AI/ML fleet coordination softwareComputer vision-based case identificationML-based path planning and inventory placement optimizationGreenBox warehouse-as-a-service (AI-managed)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Physical Symbot robot hardwareStorage structure/racking infrastructureInbound sorting and outbound palletizing cellsInstallation and commissioning labor
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix