Symbotic Inc. (NASDAQ:SYM) Q2 2023 Results Conference Call May 1, 2023 5:00 PM ET

Company Participants

Jeff Evanson - Vice President, Investor Relations

Rick Cohen - Founder, Chairman, and Chief Executive Officer

Tom Ernst - Chief Financial Officer

Conference Call Participants

Andrew Kaplowitz - Citi

Matt Summerville - D.A. Davidson

Mark Delaney - Goldman Sachs

Nicole DeBlase - Deutsche Bank

James Ricchiuti - Needham & Company

Mike Latimore - Northland Capital Markets

Greg Palm - Craig-Hallum

Joe Giordano - Cowen

Rob Mason - Baird

Derek Soderberg - Cantor

Chris Snyder - UBS

Operator

Thank you for standing by and welcome to the Symbotic's Second Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions]. As a reminder, this conference call is being recorded.

I will now turn the conference over to your host, Mr. Jeff Evanson, Vice President of Investor Relations and Corporate Development. Please go ahead.

Jeff Evanson

Thank you, Valerie. Good afternoon, everyone. Welcome to Symbotic's second quarter fiscal 2023 results webcast. Our press release and discussion today will include forward-looking statements, based on assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements, including as a result of factors described in the cautionary statements and risk factors in Symbotic's financial release and regulatory filings with the SEC, by which any forward-looking statements made during this call are qualified in their entirety.

In addition, during this call, we will discuss certain financial measures that are not recognized under U.S. Generally Accepted Accounting Principles, which the SEC refers to as non-GAAP measures. We believe these non-GAAP measures assist management in planning, forecasting, and evaluating our business and financial performance, including allocating resources. Reconciliations of these non-GAAP measures to their most comparable reported GAAP measures are included in our financial press release, which is available in the Investor Relations section of our website and is on file with the SEC. These GAAP measures may not be comparable to measures used by other issuers.

Today, we will provide guidance for the third quarter, including revenue and adjusted EBITDA. We are not providing guidance for net loss today, which is the most comparable GAAP financial measure to adjusted EBITDA. We are not able to provide reconciliations of adjusted EBITDA to GAAP financial measures because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted, such as the provision for stock-based compensation.