Symbotic (SYM)
Builds integrated robotic systems that move, store, and orchestrate cases through warehouses.
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Symbotic builds the machinery that runs a warehouse: steel racks, small robots that fetch cases, and the software directing them. Big retailers and food wholesalers buy a network of them, and Symbotic installs each site over years, then gets paid to keep it running. Almost all the money comes from one customer, Walmart. Widening that base, and making the building work pay, is the job now.
Item facts: FY2025 · year ended September 27, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
6 in detail · 14 more below
The Symbotic System
The full-size warehouse machine — racks, robots and the software that runs them. Walmart alone bought about 85% of everything Symbotic sold last year. The $22.5B order book has been flat for four quarters, and roughly a tenth of it turns into revenue in a year.
Competes with Cube-storage systems (AutoStore) · Skypod shuttle robots (Exotec) · Multishuttle (Dematic)
In plain English
Picture the back end of a grocery chain: cases of soup and shampoo arrive by the truckload, have to be stored somewhere, found again quickly and sent out to individual stores. Symbotic sells the machine that does that — a tall steel rack, a swarm of small wheeled robots, and the software telling each one where to go, delivered as one finished thing rather than parts to assemble.
A customer signs up for a whole network of warehouses at once, then pays as each site gets built and switched on. So the money follows installation crews rather than new orders, which is why the order book can sit still while revenue keeps climbing.
SymMicro
The same machinery shrunk into the back room of a store, packing online orders for pickup. The first one was installed in August 2026 with roughly six months before it runs live; Walmart has floated 400 stores, none of them under contract yet.
Competes with Smart Platform micro-fulfillment (Ocado Group) · Small-format installations (AutoStore)
In plain English
Shrink the whole idea until it fits the stock room behind a supermarket's swinging doors and you get SymMicro: a wardrobe-scale automated cupboard that tracks what the store has and packs orders customers collect or have delivered.
It came out of buying Walmart's own robotics unit for $200 million at the start of 2025 — engineers, designs and all — plus an agreement covering Walmart's pickup-and-delivery stores. Walmart now pays Symbotic to design the second version, and has talked about 400 stores if the first ones hit their targets. Revenue is high-single-digit millions a quarter, and management expects that pace to hold for now.
GreenBox
A warehouse company Symbotic part-owns with SoftBank: it buys the systems, builds the sites and rents the capacity out to smaller firms. It has committed to at least $7.5B of Symbotic equipment over six years, and sites are filling slowly.
Competes with Contract logistics (GXO Logistics) · Outsourced warehousing (DHL Supply Chain) · Solutions turnkey fulfillment (Ocado Group)
In plain English
Some customers want the warehouse without the bill for it. GreenBox — a company Symbotic owns a bit over a third of, with SoftBank, its majority partner, holding the rest — puts up the money to build automated sites and then rents that capacity out to firms too small or too cash-tight to buy a system outright.
For Symbotic it is a customer it part-owns: GreenBox has committed to spend at least $7.5 billion on its systems over six years, paying what each build costs plus an agreed profit on top, then paying again for software support and spare parts. Atlanta is running, Dallas and Chicago are signed.
BreakPack
The robots that handle single items instead of whole cases, which opens up convenience stores, pharmacies, auto parts and hospital supply. Half of Walmart's regional warehouses have it going in, forty bots apiece; watch whether buyers outside Walmart take it.
Competes with OSR Shuttle goods-to-person picking (Knapp) · Sparrow item-picking arm (Amazon Robotics)
In plain English
Full cases are the easy part. Shifting a sealed box of cereal is simple; pulling out four cereal boxes, two toothpastes and a jar of sauce and dropping them into one plastic bin bound for one store is a different job entirely. BreakPack is the pair of robots built for it — one sorts loose items into those mixed bins, the other ferries stock across to them.
That matters because it reaches buyers the big system could not: convenience stores, pharmacies, auto-parts chains, hospital suppliers. The refreshed bots do roughly twice the work in the same time, and Walmart has ordered forty of them for each warehouse taking the system.
Operation services
Symbotic's own staff running and maintaining the installed machines: $105.3M last year, then a jump of about a quarter in one quarter to $37.1M as more sites went live. Its size simply follows how many systems are switched on.
Competes with Customer service and lifecycle support (Dematic) · Outsourced contract logistics (GXO Logistics)
In plain English
Once a site is switched on, someone has to keep it moving — and often that someone works for Symbotic. Its people run the system day to day, service the robots, tune the software and train the customer's staff, all under a contract sold alongside the machinery.
The size of this business is really just a headcount of live sites. Fifty-six were running in June 2026 with seventy-seven more still being built, so the queue feeding it is larger than the business itself. Revenue sat flat for four quarters — management put that down to a tough comparison on training work, not customers leaving — then stepped up sharply.
Software maintenance and support
The support contract attached to every installed system — $29.6M last year, the smallest line and the fastest-growing. Growth has cooled from roughly a doubling to 57%, and the quarter ended June 2026 was flat against the one before.
Competes with Warehouse execution software (Blue Yonder) · Warehouse management software (Manhattan Associates) · Smart Platform control software (Ocado Group)
In plain English
The smallest line on the page. Every installed system comes with a support contract: Symbotic keeps the control software patched, repaired and up to date for a recurring fee, the way a building pays a lift company to look after the lift whether or not it breaks.
Next to system sales it is a rounding error, but it is the closest thing here to money that arrives without a new building site, and it has grown faster than anything else Symbotic sells. The rate is coming down as the base it grows from gets bigger, and the profit margin on the line widens as it scales.
The Symbotic SystemThe full-size warehouse machine — racks, robots and the software that runs them. Walmart alone bought about 85% of everything Symbotic sold last year. The $22.5B order book has been flat for four quarters, and roughly a tenth of it turns into revenue in a year.The full-size warehouse machine — racks, robots and the software that runs them. Walmart alone bought about 85% of everything Symbotic sold last year. The $22.5B order book has been flat for four quarters, and roughly a tenth of it turns into revenue in a year.
In plain English
Picture the back end of a grocery chain: cases of soup and shampoo arrive by the truckload, have to be stored somewhere, found again quickly and sent out to individual stores. Symbotic sells the machine that does that — a tall steel rack, a swarm of small wheeled robots, and the software telling each one where to go, delivered as one finished thing rather than parts to assemble.
A customer signs up for a whole network of warehouses at once, then pays as each site gets built and switched on. So the money follows installation crews rather than new orders, which is why the order book can sit still while revenue keeps climbing.
Competes with Cube-storage systems (AutoStore) · Skypod shuttle robots (Exotec) · Multishuttle (Dematic)
SymMicroThe same machinery shrunk into the back room of a store, packing online orders for pickup. The first one was installed in August 2026 with roughly six months before it runs live; Walmart has floated 400 stores, none of them under contract yet.The same machinery shrunk into the back room of a store, packing online orders for pickup. The first one was installed in August 2026 with roughly six months before it runs live; Walmart has floated 400 stores, none of them under contract yet.
In plain English
Shrink the whole idea until it fits the stock room behind a supermarket's swinging doors and you get SymMicro: a wardrobe-scale automated cupboard that tracks what the store has and packs orders customers collect or have delivered.
It came out of buying Walmart's own robotics unit for $200 million at the start of 2025 — engineers, designs and all — plus an agreement covering Walmart's pickup-and-delivery stores. Walmart now pays Symbotic to design the second version, and has talked about 400 stores if the first ones hit their targets. Revenue is high-single-digit millions a quarter, and management expects that pace to hold for now.
Competes with Smart Platform micro-fulfillment (Ocado Group) · Small-format installations (AutoStore)
GreenBoxA warehouse company Symbotic part-owns with SoftBank: it buys the systems, builds the sites and rents the capacity out to smaller firms. It has committed to at least $7.5B of Symbotic equipment over six years, and sites are filling slowly.A warehouse company Symbotic part-owns with SoftBank: it buys the systems, builds the sites and rents the capacity out to smaller firms. It has committed to at least $7.5B of Symbotic equipment over six years, and sites are filling slowly.
In plain English
Some customers want the warehouse without the bill for it. GreenBox — a company Symbotic owns a bit over a third of, with SoftBank, its majority partner, holding the rest — puts up the money to build automated sites and then rents that capacity out to firms too small or too cash-tight to buy a system outright.
For Symbotic it is a customer it part-owns: GreenBox has committed to spend at least $7.5 billion on its systems over six years, paying what each build costs plus an agreed profit on top, then paying again for software support and spare parts. Atlanta is running, Dallas and Chicago are signed.
Competes with Contract logistics (GXO Logistics) · Outsourced warehousing (DHL Supply Chain) · Solutions turnkey fulfillment (Ocado Group)
BreakPackThe robots that handle single items instead of whole cases, which opens up convenience stores, pharmacies, auto parts and hospital supply. Half of Walmart's regional warehouses have it going in, forty bots apiece; watch whether buyers outside Walmart take it.The robots that handle single items instead of whole cases, which opens up convenience stores, pharmacies, auto parts and hospital supply. Half of Walmart's regional warehouses have it going in, forty bots apiece; watch whether buyers outside Walmart take it.
In plain English
Full cases are the easy part. Shifting a sealed box of cereal is simple; pulling out four cereal boxes, two toothpastes and a jar of sauce and dropping them into one plastic bin bound for one store is a different job entirely. BreakPack is the pair of robots built for it — one sorts loose items into those mixed bins, the other ferries stock across to them.
That matters because it reaches buyers the big system could not: convenience stores, pharmacies, auto-parts chains, hospital suppliers. The refreshed bots do roughly twice the work in the same time, and Walmart has ordered forty of them for each warehouse taking the system.
Competes with OSR Shuttle goods-to-person picking (Knapp) · Sparrow item-picking arm (Amazon Robotics)
Operation servicesSymbotic's own staff running and maintaining the installed machines: $105.3M last year, then a jump of about a quarter in one quarter to $37.1M as more sites went live. Its size simply follows how many systems are switched on.Symbotic's own staff running and maintaining the installed machines: $105.3M last year, then a jump of about a quarter in one quarter to $37.1M as more sites went live. Its size simply follows how many systems are switched on.
In plain English
Once a site is switched on, someone has to keep it moving — and often that someone works for Symbotic. Its people run the system day to day, service the robots, tune the software and train the customer's staff, all under a contract sold alongside the machinery.
The size of this business is really just a headcount of live sites. Fifty-six were running in June 2026 with seventy-seven more still being built, so the queue feeding it is larger than the business itself. Revenue sat flat for four quarters — management put that down to a tough comparison on training work, not customers leaving — then stepped up sharply.
Competes with Customer service and lifecycle support (Dematic) · Outsourced contract logistics (GXO Logistics)
Software maintenance and supportThe support contract attached to every installed system — $29.6M last year, the smallest line and the fastest-growing. Growth has cooled from roughly a doubling to 57%, and the quarter ended June 2026 was flat against the one before.The support contract attached to every installed system — $29.6M last year, the smallest line and the fastest-growing. Growth has cooled from roughly a doubling to 57%, and the quarter ended June 2026 was flat against the one before.
In plain English
The smallest line on the page. Every installed system comes with a support contract: Symbotic keeps the control software patched, repaired and up to date for a recurring fee, the way a building pays a lift company to look after the lift whether or not it breaks.
Next to system sales it is a rounding error, but it is the closest thing here to money that arrives without a new building site, and it has grown faster than anything else Symbotic sells. The rate is coming down as the base it grows from gets bigger, and the profit margin on the line widens as it scales.
Competes with Warehouse execution software (Blue Yonder) · Warehouse management software (Manhattan Associates) · Smart Platform control software (Ocado Group)
Named in filings, launches and programs
- Walmart Master Automation AgreementCustomer programThe 2017 contract, widened in 2022, covering all 42 of Walmart's U.S. regional distribution centres — the spine of everything Symbotic builds.
- Walmex Mexico programmeCustomer program · RampingWalmart's Mexican arm signed after September 2024; racks were going up by May 2026 — the first Walmart site outside the United States.
- MedlineCustomer program · RampingFirst customer in healthcare, signed in late 2025 with one deployment started.
- Associated Wholesale GrocersCustomer program · RampingThe largest U.S. food-wholesale cooperative, supplying independent supermarkets across 3,500-plus retail locations; its first site began installation in early 2026.
- Southern Glazer's Wine & SpiritsCustomer programDrinks distributor that signed in 2023; a new site was among the eleven system starts in the quarter ended June 2026.
- C&S Wholesale GrocersCustomer programGrocery wholesaler on the customer roster, and the tenant behind the GreenBox site at Lathrop.
- TargetCustomer programOne of the non-Walmart retailers named in the FY2025 customer roster; its spending is not disclosed separately.
- AlbertsonsCustomer programAlso named in the FY2025 customer roster — part of the remainder the company only describes as everything outside Walmart.
- Giant TigerCustomer programAn early Canadian site, referenced on the May 2026 call.
- Fox RoboticsProduct line · RampingSelf-driving forklifts that load and unload trailers, bought February 2026; brought about 25 customers, many new to Symbotic, and shares laser sensors with SymBot.
- ARMS InnovationsPlatform · AnnouncedUK software that watches automated warehouses and flags machines before they fail; bought July 2026, to be offered to every customer. No revenue yet.
- Veo Robotics FreeMoveProductDepth-sensing vision that lets industrial robots work safely close to people; the assets were bought in August 2024.
- Nyobolt battery partnershipEcosystemFast-charging battery technology powering the SymBot robots — a supply tie-up, not something Symbotic sells on its own.
- Next-generation storage structureProductA denser rack design introduced in FY2025 that let the biggest customers merge two building phases into one, shifting when revenue lands.
Walmart Master Automation AgreementCustomer program
The 2017 contract, widened in 2022, covering all 42 of Walmart's U.S. regional distribution centres — the spine of everything Symbotic builds.
Walmex Mexico programmeCustomer program · Ramping
Walmart's Mexican arm signed after September 2024; racks were going up by May 2026 — the first Walmart site outside the United States.
MedlineCustomer program · Ramping
First customer in healthcare, signed in late 2025 with one deployment started.
Associated Wholesale GrocersCustomer program · Ramping
The largest U.S. food-wholesale cooperative, supplying independent supermarkets across 3,500-plus retail locations; its first site began installation in early 2026.
Southern Glazer's Wine & SpiritsCustomer program
Drinks distributor that signed in 2023; a new site was among the eleven system starts in the quarter ended June 2026.
C&S Wholesale GrocersCustomer program
Grocery wholesaler on the customer roster, and the tenant behind the GreenBox site at Lathrop.
TargetCustomer program
One of the non-Walmart retailers named in the FY2025 customer roster; its spending is not disclosed separately.
AlbertsonsCustomer program
Also named in the FY2025 customer roster — part of the remainder the company only describes as everything outside Walmart.
Giant TigerCustomer program
An early Canadian site, referenced on the May 2026 call.
Fox RoboticsProduct line · Ramping
Self-driving forklifts that load and unload trailers, bought February 2026; brought about 25 customers, many new to Symbotic, and shares laser sensors with SymBot.
ARMS InnovationsPlatform · Announced
UK software that watches automated warehouses and flags machines before they fail; bought July 2026, to be offered to every customer. No revenue yet.
Veo Robotics FreeMoveProduct
Depth-sensing vision that lets industrial robots work safely close to people; the assets were bought in August 2024.
Nyobolt battery partnershipEcosystem
Fast-charging battery technology powering the SymBot robots — a supply tie-up, not something Symbotic sells on its own.
Next-generation storage structureProduct
A denser rack design introduced in FY2025 that let the biggest customers merge two building phases into one, shifting when revenue lands.