Symbotic Inc - Ordinary Shares - Class A

Q2 FY26 results beat the high end of forecast; GAAP profitability returned - Revenue $676M (above the high end of guidance range). - GAAP net income: $9M (improved vs GAAP net loss of $10M in Q2 FY25). - Adjusted EBITDA: $78M, also above the top end of guidance (driven by higher revenue + strong gross margin). - Profitability and leverage improved as gross margin expanded sequentially and YoY (project execution, cost discipline, scale benefits).

Deployments are the growth engine; recurring mix strengthening - 14 new system deployments in the quarter; 70 systems in deployment at quarter-end. - Systems revenue grew +24% YoY and +8% sequentially to $634M. - One system went operational (XSLT Atlanta site); install-to-acceptance in <10 months (notably faster than historical timelines). - Software revenue $13M (+93% YoY); included about $1M non-recurring adjustment (core software growth still >75% YoY). - Operations services $29M: slightly down YoY (tough training comp) but up sequentially.

Balance sheet and cash generation remain a key positive - Backlog: $22.7B (up from $22.3B last quarter), reflecting final pricing adjustments + AWG addition, partly offset by revenue recognized in the quarter. - Cash & cash equivalents: $2.0B (up from $1.8B last quarter) supported by $218M free cash flow. - No debt at quarter-end (important for downside risk). - *Dividends/buybacks:* none mentioned in the call transcript.