Symbotic Inc. (NASDAQ:SYM) Q4 2023 Results Conference Call November 20, 2023 5:00 PM ET

Company Participants

Jeff Evanson - VP, IR

Rick Cohen - Chairman and CEO

Tom Ernst - CFO

Carol Hibbard - Incoming CFO

Conference Call Participants

Matt Summerville - D.A. Davidson

Andy Kaplowitz - Citi

Nicole DeBlase - Deutsche Bank

Derek Soderberg - Cantor Fitzgerald

Greg Palm - Craig-Hallum

Joe Giordano - TD Cowen

Ken Newman - KeyBanc Capital Markets

Mark Delaney - Goldman Sachs

Jim Ricchiuti - Needham

Rob Mason - Baird

Operator

Good day and thank you for standing by. Welcome to the Symbotic Fourth Quarter and Fiscal Year 2023 Financial Results. At this time all participants are in a listen-only mode. After the speaker’s presentation there will a question-and-answer session. [Operator Instructions] Please note that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Jeff Evenson, Vice President of Investor Relations. Please go ahead.

Jeff Evanson

Hello. Welcome to Symbotic’s fourth quarter 2023 financial results webcast. I'm Jeff Evanson, Symbotic's VP of Investor Relations. 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 the result of factors described in 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 also on file with the SEC.

These non-GAAP measures may not be comparable to measures used by other issuers. Today, we'll provide guidance for the first quarter of fiscal '24, including revenue and adjusted EBITDA. We do not provide guidance for net loss, which is the most comparable GAAP financial measure to adjusted EBITDA. We are not able to provide reconciliations to adjusted EBITDA to GAAP financial measures because certain items required for such reconciliations are outside our control, and/or cannot be reasonably predicted such as the provision for stock-based compensation.