Item 1. Business
Item 1. Business
Company Overview
Our vision is to make the supply chain work better for everyone. We do this by developing, commercializing, and deploying innovative and comprehensive technology solutions that dramatically improve supply chain operations. We automate the processing of pallets, cases and items (known as eaches) in warehouses.
Our robotic based automation systems, which include hardware and essential software, move, store and sort cases and eaches in warehouses. Our systems are operational in a number of the world’s largest retailers, including Walmart, wholesale distributors, including C&S Wholesale Grocers, and are being deployed in GreenBox Systems LLC (“GreenBox”), our warehouse-as-a-service joint venture. We have spent significant time working closely with our customers to develop, test and refine our technology. We have approximately $22.5 billion of backlog as of September 27, 2025, of which our agreements with Walmart and GreenBox comprise the vast majority.
We have devoted significant funds and resources to date in developing and diversifying our systems and related applications. Our systems are designed to increase efficiency, speed and flexibility of the supply chain by using proprietary robotics and A.I.-powered software for the movement and storage of goods. Our intellectual property is protected by a portfolio of approximately 1,100 issued and/or pending patents.
We believe that the global supply chain has reached a point of critical stress, driving an inflection in demand for intelligent and scalable automation. As consumer buying habits change, the labor market shifts, and cost of living wages increase, the demand on warehouse workers is becoming overly burdensome. Manual operations are becoming unsustainable and older automation systems are not capable of optimally satisfying modern operational needs. The dramatic growth in e-commerce has increased supply chain complexity by putting pressure on retailers to support multiple sales channels and orders of eaches in addition to cases and pallets. Meanwhile, consumer expectations have evolved to demand a larger variety of items to be delivered quickly and seamlessly. This has placed significant strain on the traditional supply chain and the people who support it. We help our customers thrive in this increasingly challenging environment.
In January 2025, we acquired the Advanced Systems and Robotics (“ASR”) business from Walmart and signed a Master Automation Agreement that provides for the development, manufacture and installation of automated systems for online pickup and delivery at Walmart retail stores (“2025 Walmart MAA”). This acquisition added a new product category for us to address the opportunity for automated fulfillment of customer orders at the local and store level, which supports the growth of e-commerce. Under the 2025 Walmart MAA, as of September 27, 2025, we are operating several micro-fulfillment systems, which we will continue to support. We are in the process of developing an advanced micro-fulfillment system for future deployments.
Industry Background
First Principles of the Supply Chain
The first principles of the supply chain are to align three mismatches between producers and recipients of goods in a cost-effective manner. These three mismatches relate to the quantity, timing, and location of goods. They exist because a small number of producers concentrate resources to serve many consumers in the pursuit of economies of scale.
The first mismatch relates to the quantity of goods. A relatively small number of producers generate a greater quantity of goods than any single consumer desires. The supply chain aligns this mismatch by “singulating” (i.e., dividing into a common unit) production quantities into quantities desired by consumers. This means pallets are separated into cases and then cases are separated into eaches.
The second mismatch relates to the timing of when goods are produced versus needed. Producers generate goods continuously, but end users purchase and consume goods at a much slower or cyclical rate. This mismatch is aligned by storing goods in inventory (known as “buffering”). Buffering is analogous to a water reservoir managing the variation between precipitation and household water consumption.
The third and final mismatch relates to location. Goods are needed at the point of consumption rather than the point of production. Thus, movement of goods is a critical function of the supply chain.
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Nodes in the Supply Chain
Modern warehouses are a node in the supply chain where singulating, buffering, and movement activities align these mismatches. Two common types of warehouses are distribution centers and micro-fulfillment centers.
Distribution centers receive packaged finished goods in either pallets or cases from manufacturers. At the distribution center, our systems automate the separation of pallet-to-case and case-to-each and then into multi-stock keeping unit (“SKU”) pallets and totes. These pallets and totes flow downstream to either retail stores or micro-fulfillment centers.
At micro-fulfillment centers, which can be standalone or attached to a brick-and-mortar retail store, eaches are picked and packed into multi-SKU totes for shipment or into cartons or bags for pickup by the consumer. This downstream category of the supply chain is often referred to as “micro-fulfillment.” Our system for this category automates the process of picking orders and is currently operational at several Walmart stores.
Distribution Centers E-Commerce or Micro-Fulfillment
Flow of Goods Upstream Downstream
Typical Function Singulate and buffering between producers and next node Items selection
Packing and shipping
Typical Location Rural or Suburban Suburban, Urban or Store-Based
Common Fulfillment Unit Pallets, Cases Items/Eaches
Optimized for Low cost per case Low cost per item
Speed of fulfillment and delivery
Volume High Low to moderate
SKU count/variety Low to Moderate High
Current supply chain operations are generally manual, inflexible, expensive, require significant investments in inventory, and require goods to be manually handled multiple times before being shipped to stores or consumers. The supply chain is expensive because it tends to be slow and labor intensive, which leads to significant damage and waste. In a typical supply chain operation, single-SKU pallets are delivered to a distribution center where hundreds, or thousands, of people are required to move and store pallets. They then select individual cases from the pallets and combine those individual cases into store-ready pallets. In micro-fulfillment, they unpack the cases, store eaches in totes or other storage structures and then select and combine eaches for individual customer order fulfillment. Even mechanized warehouses require significant human intervention, are very inflexible, and face disruption from numerous single points of failure. These factors contribute to high maintenance costs and damage, resulting in limited total cost savings.
Retail and Supply Chain Trends
Several trends within the retail industry supply chain have exacerbated the costs and inflexibility of this supply chain:
• Labor Scarcity and Cost —As the labor force matures and becomes more highly educated, warehouse labor is becoming increasingly scarce and expensive. The turnover rate for transportation, warehousing, and utilities employees was 20% higher than the turnover rate for all nonfarm employees in the first half of calendar year 2025, according to the U.S. Bureau of Labor Statistics.
• Omni-Channel Strategies —As online shopping has become more popular with consumers, brick-and-mortar retailers must support multiple distribution channels. Traditional brick-and-mortar retailers must support buy online with home delivery, buy online pick up in store, as well as support for channel-related reverse logistics. Not only does the growth of distribution channels increase complexity, but the e-commerce channel itself is more complex than traditional brick-and-mortar. They are more complex because they need to deliver a continuously changing and increasingly diverse range of items to a broader range of locations faster and in an increasing variety of ways.
• Growing Consumer Expectations and SKU Proliferation —The internet has made the world’s goods available to more consumers, so now shoppers expect retailers to offer increased product diversity. At the same time, manufacturers continue to adopt mass personalization product strategies, which adds to an already growing number of SKUs and accelerates the frequency and speed of SKU transitions. These trends require retailers to find a way to efficiently store, handle, and make available a wider variety of SKUs while managing seasonal and geographic variability. This requires either a greater number of specialized supply chain processes or greater flexibility of legacy processes.
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Legacy alternative warehouse automation systems have been largely engineered to solve single challenges in the supply chain. They have discrete applicability focused on a particular niche in the warehouse automation value chain (e.g., specific pick and pack, e-commerce fulfillment robotics) or are older manufacturing technologies that automate high-volume, lower-value repetitive tasks (e.g., conveyor belts and sensors). We believe our solution is unique as it is a comprehensive automation system for the supply chain.
Advances in Core Technologies
We benefit from advances in robotics, sensors, vision systems, processing power, and A.I. that have been developed and commercialized over the last decade. For example, we benefit from the tens of billions of dollars that have been invested in attempts to advance autonomous vehicle technology.
Overview of Our Systems
Given the first principles of the supply chain, we re-conceived the purpose and needs of the supply chain. Unencumbered by legacy thinking and the resulting narrowly targeted technologies aimed at reducing fragments of cost in the warehouse, we completely re-designed and re-engineered the warehouse.
Our systems manage every aspect of warehouse logistics, from the time merchandise is off-loaded from a producer’s truck or container until that merchandise is ready to be delivered to a store, pick-up location, or individual. They are so space-efficient that they can be installed in phases in operating warehouses with minimal impact to operations.
We announced our next-generation storage technology in August 2025. It is designed to enhance the performance of our systems as it is engineered to deliver increased storage capacity, faster deployment and product handling, enhanced fire suppression and improved seismic adaptability. This innovation can reduce our customers’ storage footprint by up to 40% of our original size, enabling customers to fit more products into a fixed space, or attain a target storage volume in a smaller footprint.
Our fully-integrated solution in the distribution center is comprised of inbound de-palletizing cells utilizing robotic arms, scan tunnels, lifts, a storage structure, autonomous mobile robots that handle cases, eaches and totes, outbound palletizing cells using robotic arms, multiple types of vision systems and software that coordinates and optimizes the movements of all the hardware. We believe this software maximizes the throughput of goods while improving quality of delivery and reducing the cost. Our integrated solution in distribution centers can handle cases and eaches. Our system that handles cases can prepare multi-SKU outbound pallets. Our BreakPack system automates opening cases, handling eaches and preparing multi-SKU totes for inclusion in the same outbound pallets.
When we acquired the ASR business in January 2025, we added a new product category for automated fulfillment of customer orders at the local and store level, which supports the growth of e-commerce. Pursuant to the 2025 Walmart MAA, we plan to develop, manufacture and install automated systems for online pickup and delivery at Walmart retail stores. We plan to continue to support and enhance Walmart’s current online pickup and delivery fulfillment systems and design and implement a new version of the system, which operate in three temperature zones – frozen, refrigerated and ambient. Our first prototypes of our next-generation micro-fulfillment solution are planned to be installed in calendar year 2026. We expect them to include our next-generation storage technology, decanting stations, pick stations and dispatch stations.
The innovative architecture of our systems differentiates our solution from alternative warehouse systems. The pillars of our architecture combine synergistically to deliver the benefits of our solution. The pillars are:
• A.I.-Powered Software : Our systems are enhanced by our A.I.-powered autonomous software that spans high-level planning and sequencing algorithms down to hardware control and decision-making. We define A.I. as technology that enables computers and machines to emulate human level performance, comprehension, problem solving, decision making, creativity or autonomy. Applications and devices equipped with A.I. can perceive and identify objects. They can understand and respond to human commands. They can learn from past experiences. They can make detailed recommendations to users and experts. They can act independently, replacing the need for human intelligence or intervention. We believe our autonomous hardware and system software technology encompass the definition of A.I. by reducing the need for manual human intelligence or intervention by simulating human functions.
• Physical A.I. : Physical A.I. is the development and embedding of A.I. technology in machines that operate in the physical world. For example, at Symbotic, Physical A.I. is used in autonomous systems like our Bots, de-palletizing
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and palletizing robotic cells to perceive, understand, reason and perform or orchestrate complex actions in our systems.
• Singulating : Singulating goods is the process of dividing quantities of goods to the lowest common fulfillment unit (e.g., from pallets-to-cases and cases-to-eaches). Our case-based system can separate all incoming pallets to the case level. Our BreakPack and micro-fulfillment systems can separate cases to the each level. By managing goods at the case and each level, rather than at the pallet level, our systems remove unused space from the warehouse, allowing merchandise to be stored more densely and increasing the speed of product throughput.
• Dynamic Storage : Our systems’ function is analogous to that of a random-access computer hard drive. By effectively “digitizing” totes and cases and spreading them throughout the storage structure, we create optionality for our picking and routing optimization algorithms. Merchandise is opportunistically placed throughout the storage structure, similar to the way a random-access hard drive handles data.
• Autonomous Movement : Autonomous A.I.-powered mobile robots allow our systems to have superior flexibility, speed and inventory handling capabilities. Like autonomous cars operating in a smart city, our robots operate independently but act collectively to transport, sequence, and move cases and totes through the storage structure. Our algorithms consider robot proximity, travel distance and other factors to solve for optimal overall performance while dynamically adjusting as anomalies arise. In addition, because each robot can travel anywhere in a two-dimensional plane and moves like a car that can make radius turns, our robots are comparatively fast. Our Bots that handle cases and totes can travel at speeds that exceed 20 miles-per-hour. Our systems have multi-level access in the storage structure, which allows for faster throughput resulting in more storage and retrieval transactions per hour compared to tray, shuttle, or crane-based systems. Finally, our use of automation and A.I.-powered software means our system in the distribution center that handles cases can approach true “lights-out” operation (100% up-time with zero human intervention).
• Original (Native) Package Handling : Our systems can handle a variety of goods in a range of verticals. Our autonomous A.I.-powered mobile robots are able to manipulate a range of case and tote sizes, types and weights in a variety of packaging formats. The SymBots™® mobile robots place and pick cases and totes by underpicking, which is lifting them from the bottom using an automated fork system. Underpicking reduces case damage and rejection rates, thereby decreasing waste and cost. Unlike some of our competitors, we do not handle goods with grippers, which can crush them, or suction cups, which can drop goods. We also do not transfer goods to standardized trays, eliminating additional handling of goods and reducing empty storage space. Trayless handling allows storage of cases within 10 millimeters of each other.
• System-of-Systems Design : Our system-of-systems architecture philosophy reduces single points of failure, enhancing the resiliency of our systems. We utilize an array of redundant autonomous A.I.-powered mobile robots, lifts and inbound and outbound palletizing cells. Thus, if a key part of our system fails, another part of the system can assume the task load. In addition, our hardware and software are engineered for rapid serviceability utilizing field replaceable components wherever possible.
• Scalable Modularity : Our architecture is highly modular and scalable, allowing us to install our systems in existing warehouses rather than requiring capital to build new warehouse space. We are also able to install our systems in phases, allowing the existing warehouse to continue to operate during the transition to our systems. Finally, we can easily reconfigure and expand our systems to accommodate SKU proliferation as our customers’ needs and strategies evolve.
Functional Flow Overview of Systems
Generally, manufacturers create their products in batches by SKU (i.e., individual type of item like can of chicken noodle soup). Manufacturers then aggregate and package the goods in manageable quantities for efficient and safe shipping. Usually, goods are batched in cardboard or plastic cases. Cases are then stacked on 4-foot by 4-foot pallets as high as safely possible and then shrink-wrapped so the pallets retain integrity while in transit and the goods can be transported without damage.
A pallet may commonly contain anywhere between 40 and 120 cases depending on the size and weight of the goods and, therefore, could contain dozens to hundreds of goods that will ultimately be sold to consumers. Some manufacturers produce homogeneous pallets with one SKU. Others may combine multiple SKUs on heterogeneous pallets if the cases are the same size and the manufacturer is able to do so efficiently in their production process.
Other goods may be shipped un-palletized because a manufacturer does not produce or sell enough of one item to make full pallet shipping efficient. Goods may also travel through the supply chain un-palletized because they have been combined with other goods for more efficient shipping. This often happens when goods come from international destinations given the
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desire to fill a shipping container with multiple goods and/or from multiple manufacturers to reduce overall shipping costs. Un-palletized goods generally come stacked randomly in a truck trailer or shipping container.
In distribution centers, our solution can uniquely handle homogeneous and heterogeneous palletized and un-palletized goods. When pallets reach the distribution center, our solution generally functions as follows:
• Palletized-Inbound : When pallets reach a distribution center, the pallets are placed into our system. Our large de-palletizing robotic cells use state-of-the-art vision technology and our proprietary end-of-arm tools to pick up entire layers of cases and transfer them to our “singulating” robots that deconstruct the pallet layer down to the case level. Our singulating robots also use vision technology and other proprietary end-of-arm tools to orient each case optimally for storage and handling in the storage structure of our system. The cases then enter the scan tunnel.
• Floor-Loaded Inbound : When un-palletized goods reach a distribution center, such as in traditional international shipping containers where goods are loaded from floor to ceiling without the use of pallets for quick unloading, are also placed into our system and the individual cases enter the scan tunnel just like palletized goods.
• Scan Tunnel: On the way to the storage structure, each case proceeds through a short scan tunnel where our systems use vision technology and sensors to “digitize” the dimensions and attributes of each inbound case. Simultaneously, our systems perform an integrity check of each case to screen for damage. If the case is damaged, it may be compromised as it moves through our system, and it may indicate damaged goods inside the case. Any case that our system determines is non-conforming or damaged is rejected. An associate will either repair the case before re-induction into the system or reject the damaged goods.
• BreakPack : Our BreakPack system enables eaches to be shipped to retail stores when demand for a product is lower than the quantity in a case. It also mitigates in-store storage of slower-moving products. After cases are cut open, eaches are put in totes. This process is referred to as decanting. The totes are then delivered to the storage structure. At pick stations, eaches are picked and placed onto autonomous mobile robots, which we call MiniBots, that then sort them into multi-SKU totes, which are included in the outbound pallets for shipment to retail stores.
• Storage Structure : Our systems include a storage structure, where cases and totes are placed, stored and retrieved. The storage structure is comprised of a number of levels stacked on top of each other. Each level has a transfer deck that spans the width of the structure and connects several dozen aisles that extend horizontally at a 90-degree angle from the transfer deck. The levels are connected vertically by a series of lifts.
• Lifts : Our systems include a collection of lifts that function like a bank of elevators in a building. Simultaneously, our A.I.-enabled software determines the optimal location in the structure for storage of the case. When a case or tote reaches the lift to which it is assigned, the lift extends its finger and picks it up. The lift then brings it to the appropriate level in the structure and places it onto a storage shelf where it will be picked up by an autonomous mobile robot. The mobile robot will then bring it to the aisle storage position for that level.
• Autonomous Mobile Robots : Our systems use autonomous mobile robots, which we refer to as Bots, of varying sizes to handle cases, totes or eaches. Currently, our SymBot™® mobile robots handle cases and totes and our MiniBot mobile robots handle eaches.
SymBot mobile robots are powered by rapid-charging ultracapacitors, so charging takes a matter of seconds as the SymBot mobile robots drive over charge plates integrated into the floor of the storage structure. This eliminates the need for SymBot mobile robots to come out of service for charging, which allows them to operate all day for weeks at a time. We are updating the design of the SymBot mobile robot to replace the ultracapacitors with a new battery, which has six times more energy capacity and is 40% lighter. This will further increase the window of operability of the SymBot mobile robot. Our SymBot mobile robots are interchangeable and hand off tasks to each other in a live operating system without productivity loss. If a SymBot mobile robot does need maintenance, remote operators can triage by remote instruction. SymBot mobile robots lift each case from the bottom using fingers that extend under the case, which is underpicking. On average, a SymBot mobile robot can reach any location in our structure and return to our inbound or outbound cells in under four minutes.
Our MiniBots are similar to the SymBot mobile robots, but are smaller and travel at a slower speed. They are powered by swappable batteries given that they operate longer and have a different payload. They also handle eaches by means of a conveyor belt rather than underpicking, which is used by the SymBot mobile robot.
• Outbound : Our outbound lift retrieves cases and totes delivered by SymBot mobile robots and transfers them to the outbound level of our solution. Our software utilizes SymBot mobile robots and lifts to sequence cases and totes in an optimal order for outbound processing. Our software further allows us to palletize cases using two robotic arms
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on opposite sides of a pallet. On average, these two robotic arms work together to place cases onto pallets every two seconds. Our solution typically creates a pallet comprised of a variety of different goods and SKUs (known as a “rainbow pallet”). Our solution can also create a rainbow pallet based upon a customer’s store plan. Specifically, the rainbow pallet can consist of products for a specific store aisle, which can be delivered directly from a truck to the end of an aisle so that store employees can unpack the cases and totes from the pallet, replenish shelves quickly and reduce store labor costs.
In systems used in micro-fulfillment centers, cases are cut open and the eaches are placed in totes, which is known as decanting. The totes are supplied from the storage structure and once filled are inducted back into the system. Our A.I.-powered software guides the operator on filling totes, which enter the system for use in filling consumer orders. Pick station operators pick eaches from the supply totes. Currently, the supply totes are delivered by our Alphabot® mobile robots, which can travel both horizontally and vertically. The operators then place the eaches into order totes. When order totes are completed, they are fed back into the system for storage or staged in special dispense lanes for pickup by customer.
Products
Our systems are typically sold in three parts: the initial system sale, software maintenance and support services, and operation services. Our systems are a modular, highly configurable capital asset purchase that we sell to our customers in the year of deployment. Over the remaining system life, we charge a software maintenance and support fee. Finally, we provide training and system operation until the customer assumes operational duties. Our typical deployment model is to build and install the system, operate the system for a limited time and then transfer daily operation to the customer.
Technologies
Our technologies are categorized into both hardware and software components, which work together to deliver an integrated comprehensive solution to our customers. Key elements of the hardware and software components are as follows:
• Intelligent Autonomous Mobile Robots : Our intelligent Bots handle cases and totes and utilize a suite of sensors to locate, retrieve, and transport products. Our Bots can travel at speeds exceeding 20 mph; some Bots can travel at speeds up to 25 mph. Our Bots locate, retrieve and transport products with very high accuracy. Currently, we ship in excess of eight million cases per day without reported inaccurate fulfillments. Our newest version of these robots uses vision technology in addition to our autonomous routing algorithms to achieve optimal speed, safety, and routing. We also have Bots that handle eaches in micro-fulfillment centers and distribution centers.
• Physical A.I .: Physical A.I. is the development and embedding of A.I. technology in machines that operate in the physical world. For example, at Symbotic, Physical A.I. is used in autonomous systems like our Bots, de-palletizing and palletizing robotic cells to perceive, understand, reason and perform or orchestrate complex actions in our systems.
• A.I.–Powered Software : Our systems utilize A.I. technologies in a variety of ways to dynamically achieve optimal performance and improve over time. Since the flow of goods through our systems is highly dynamic and the related parameters are constantly changing, our software responds to these changes by reoptimizing every task that needs to be completed multiple times per second. The re-optimization is based on the supply of goods, the location of those goods, and the storage shelves available within the storage structure.
Our software enables our Bots to independently place and retrieve various sizes of goods with different package material, make corrections to account for product movement, and efficiently navigate through our systems in the shortest amount of time and at the lowest cost.
Our software manages inbound inventory and inventory levels in the storage structure against fulfillment orders, optimized to fulfillment gate times. It creates the pallet and tote build plan based on a variety of factors including inventory on hand. It also plans according to store layouts and aisle-specific plan-o-grams, pallet structure, and even more granular criteria such as isolating hazardous goods that require special handling.
• Real-Time Data Analytics Software : Our proprietary software aggregates and synthesizes data generated by our systems to provide real-time analytics and actionable insights regarding inventory levels, throughput, accuracy and performance. We also collect and analyze real-time data on various parts of our systems to evaluate health and predict maintenance needs.
• A.I.-Powered De-Palletizing Robotic Cells : Our systems in the distribution center use our proprietary de-palletizing robotic end of arm tools, coupled with our A.I. and state-of-the-art vision enhanced robotic arms to de-
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palletize cases of multiple SKUs. During de-palletization, we scan each case to create a digital model including, among other things, its size, stability, and density. This allows our A.I.-powered software to optimize storage, retrieval, and palletizing for distribution to stores based upon an individual case’s characteristics.
• A.I.-Powered Palletizing Robotic Cells : Our systems in the distribution center use proprietary A.I.-powered software, state-of-the-art vision enhanced palletizing robotic arms and our patented end of arm tools to combine multiple SKUs into aisle-ready pallets. Our palletizing robotic application uses two robots simultaneously to palletize cases and totes rapidly and efficiently.
Our Competitive Strengths
We have significant advantages over our competitors because of our people, technologies, and experience, underpinned by decades of leadership in supply chain operations and innovation. Specifically, we benefit from the following competitive advantages:
Experienced, Founder-Led Leadership Team
We are a founder-led company. Our chairman, chief executive officer, and significant shareholder, Richard B. Cohen, founded Symbotic in 2006 to develop advanced technologies that make the supply chain work better for everyone—a vision shaped by his decades of experience building C&S Wholesale Grocers. With deep operational expertise in running high-volume, low-margin warehouse operations, Mr. Cohen has been establishing, managing, and innovating in warehouse environments for two generations. We believe this experience provides us with a distinct competitive advantage in understanding the complexities of large-scale automation and logistics.
Mr. Cohen has assembled an experienced board and executive leadership team with diverse expertise in technology, engineering, and operations. Members of our board of directors and leadership team have held senior roles at leading organizations and research institutions, including Alphabet, Amazon, Avis Budget Group, The Boeing Company, Comau, Carnegie Mellon, Enphase, Fortna, Manhattan Associates, MIT, Parker-Hannifin, SoftBank, Staples, Tesla, Toyota, and Walmart.
Unique Team Culture
Our culture is rooted in first-principles thinking, allowing us to analyze complex systems such as supply chains and automation from the ground up. This approach frees our teams to innovate without the constraints of legacy processes and has fueled the creation of proprietary technology and differentiated intellectual property. Nearly half of our employees are engaged in engineering, research and development, and related technical functions. As a result, we have developed a substantial intellectual property portfolio, including more than 1,100 issued and/or pending patents.
First Mover Advantage with Differentiated System Architecture
We believe we have developed highly unique system architecture, which uses autonomous robots at scale and in real world supply chain applications. The advantages of this approach are so compelling, as measured by performance data in real world applications, that we believe our systems can become the de facto standard approach for how warehouses operate.
Superior System Return on Investment
Based on quantifiable metrics, our systems provide our customers with rapid recovery of investment costs and a compelling return on investment.
• Superior Product Throughput : The optimized and randomized storage of our architecture, and the speed and agility of our Bots, minimize Bot movement, which increases throughput.
• High Density System & Storage : By managing goods at the case and tote level, rather than at the pallet level, our systems remove unused space from the warehouse and stores merchandise more densely.
• No Compromise Retrofit : The modularity of our systems allows us to install our systems in existing warehouses while achieving full performance benefits. We are also able to install our systems in phases, which allows the warehouse to continue to operate while the transition to our systems is underway.
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• System Scalability : Our systems can be scaled to fit the needs of our customers and scale of their facilities. We can easily reconfigure and expand our systems to accommodate SKU proliferation as our customers’ needs and strategies evolve.
• Inventory Reduction & SKU Agility : The accuracy, throughput speed and density of our solution allows our customers to achieve a higher level of availability and maintain a wider range of SKU variety with less inventory.
• Fulfillment Accuracy : Our digitization strategy and A.I.-powered store and retrieve software contribute to the fulfillment accuracy of our systems. Currently, we ship in excess of eight million cases per day without reported inaccurate fulfillments.
• System Resilience : Our system-of-systems architecture philosophy reduces single points of failure, which enhances system resiliency. We utilize a redundant array of autonomous robots, lifts, inbound de-palletizing cells and outbound palletizing cells. If any key part of our system fails, another part of our system can assume the task load. In addition, our hardware and software are engineered for rapid serviceability utilizing field-replaceable components wherever possible.
• Upstream and Downstream Benefits : Our systems create benefits throughout the supply chain. There are benefits for our customers before the goods reach our solution, which include order qualities, pricing and packaging. There are also benefits for our customers after the goods leave our solution, which include optimized trailer utilization and optimal sequencing for routing and receiving.
Remaining Performance Obligations (i.e., backlog)
As of September 27, 2025, we had approximately $22.5 billion of backlog of orders from our customers, of which approximately 12% is expected to be recognized as revenue in fiscal year 2026. We define backlog as unperformed performance obligations under existing contracts. The backlog is largely structured to maintain our gross profit targets even in times of high inflation or supply chain-related price increases. For example, in most cases, increases in steel prices are passed on to the customer, preserving our gross profit. Our contracts that we use to determine this backlog do not contain termination for convenience clauses. Outside of insolvency, or specific change in control provisions, most of our backlog can only be terminated if we do not deliver the systems with its defined performance standards.
Backbone of Commerce
Our expertise has been established at the front end of the supply chain because our systems at distribution centers have direct coordination with producers and manufacturers who are the first node in the supply chain. Our systems at distribution centers are the backbone of commerce because our optimized case handling capability benefits all nodes downstream in the supply chain. Our systems have a strategic impact for our customers and is mission critical for daily operations. We believe this will result in high rates of customer retention.
Our BreakPack system can be integrated into our case handling system and be installed in a distribution center for each handling application. We believe this capability is unique and will drive supply chain efficiency through reduced handling of goods and the ability to buffer inventory at either the precise each, or case count.
Our micro-fulfillment system provides the next logical step in building out the essential components of commerce by utilizing a version of our solution (initially in the back of stores of Walmart locations) to provide order fulfillment directly to customers representing the final node in the supply chain.
We believe our competitive positioning is highly differentiated because our upstream expertise facilitates our integration with other downstream applications, including our BreakPack and micro-fulfillment systems.
Our Market Opportunity
We define our primary addressable market as the total potential spend on our systems and software for U.S. warehouses in the general merchandise, ambient grocery, ambient food distribution, consumer packaged food, and apparel verticals over the next 15 to 25 years. We estimate the size of our initial addressable market for our case-based system to be $144 billion based on the number of warehouses in each of those verticals, our estimates of the percent of warehouses in each vertical that are addressable, and the expected average price of our systems and associated recurring software revenue over the next 15 to 25 years.
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We estimate that there is an additional $126 billion in market opportunity from our secondary verticals, which are non-food consumer packaged goods, home improvement, auto parts, third-party logistics, and refrigerated and frozen foods over the next 15 years.
Over time, we plan to expand beyond our primary and secondary target verticals into additional verticals such as healthcare and electronics. To capture the size of this broader market opportunity, we estimate the size of these additional verticals in the United States at an additional $52 billion over the next 15 years (using the same methodology we use for our primary and secondary verticals). We signed our first contract with a customer in the healthcare vertical in the quarter ended September 27, 2025.
We also plan to expand internationally, so we define our total addressable market as our total U.S. market opportunity of $322 billion plus our market opportunity in Canada, Germany, Italy, United Kingdom and France, which we estimate to be an additional $111 billion over the next 15 years. This implies a total addressable market of $433 billion over the next 15 years. To estimate our market opportunity in Germany, Italy, United Kingdom, France and Canada, we assume the number of warehouses in each country relative to the number of warehouses in the U.S. is proportionate to their relative GDPs. We then multiply the resulting number of warehouses by our estimate for the percent of those warehouses that are addressable and by our estimate for the average price of our system and associated recurring revenue outside the U.S. over the next 15 years. We also began our first expansion into Mexico in fiscal year 2025.
We have identified an additional $305 billion addressable market in the United States for our micro-fulfillment solution. Our estimate of future e-commerce sales in the U.S. is based on the number of systems required to fulfill 50% of orders implied by CapitalOne’s December 2024 forecast of $2.6 trillion of e-commerce sales in the United States in 2030 (and 15 years of software revenue).
The GreenBox joint venture was established to serve the needs of outsourced case handling. Generally known as third-party logistics, our focus is on the warehouse-as-a-service (“WaaS”) market. The WaaS market has witnessed significant growth in recent years, driven by the increasing demand for flexible and scalable warehousing solutions. As businesses focus on optimizing their supply chain operations, WaaS has emerged as a strategic alternative to captive warehouses, offering on-demand access to warehouses, advanced inventory management systems, and technology-driven logistics solutions that benefit from automation and A.I. We believe the WaaS market has the potential for sustained growth, underpinned by the rise of globalization, outsourcing, e-commerce, and the evolving preferences of businesses seeking cost-effective and agile warehousing solutions.
Our Growth Strategy
The key elements of our strategy for growth include the following:
• Further penetrate customers’ operations : Our customers are large companies, many of which have thousands of stores and hundreds of warehouses. Under our customer contracts, we are converting a portion of these customers’ warehouses in the United States to our systems. We fully expect that the value these customers receive from our systems will translate into winning full deployments at the remainder of their warehouses and therefore, we expect to grow our market share.
• Win additional customers in existing verticals : Given the size of our primary addressable market relative to the size of our customer base, there is significant room for us to expand in our primary addressable market. We have numerous other potential customers in various stages of the sales cycle and we expect to win new customers in our primary addressable market.
• Expand into new verticals : We believe that every vertical that involves the physical distribution of goods through a warehouse is a potential customer. We have the intention and technological capability to expand into the non-food consumer packaged goods, auto parts and third-party logistics verticals. As we build our refrigerated and frozen capabilities, we intend to expand into these verticals. We signed our first customer in the healthcare vertical in the quarter ended September 27, 2025.
• Expand product offerings : We intend to expand our product suite to increase our value to our customers and to attract new customers. For example, we developed our BreakPack system and acquired the ASR business from Walmart. These solutions help our customers manage and optimize their e-commerce operations. They also increase our appeal to pure-play e-commerce retailers. We are also exploring new business models, specifically by adding reverse logistics and WaaS offerings. These future anticipated products are not included in our current support and maintenance arrangements.
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• Geographic Expansion : We intend to expand beyond the United States, Canada and Mexico. We are currently evaluating opportunities in Europe and Australia, and in fiscal year 2025, began our expansion in Mexico.
• WaaS : We are addressing the WaaS market through our GreenBox joint venture, which we believe is positioned to leverage our expertise and the technology of our systems to capture opportunities, meet evolving customer needs, and drive sustainable value for our shareholders.
• Acquisitions : Because our systems are designed to integrate third-party applications, we continuously explore opportunities to expand our product suite through partnerships, investments, and acquisitions. For example, in December 2024, we acquired OhmniLabs, which pioneered a fully in-house development and manufacturing model, enabling rapid innovation and speed-to-market for cutting-edge robotics solutions. In January 2025, we acquired the ASR business from Walmart and signed the 2025 Walmart MAA.
Competition
Most of our primary market relies on conventional manual and semi-mechanized systems that are labor intensive. There are several point solutions available in the market that automate certain components of the warehouse, but few offer comprehensive systems. Those that do typically require a significant greenfield real estate investment.
Some point solutions such as specific goods-to-people robotics or pick and pack robotic arm solutions address only specific supply chain functions but do not maximize the efficiency of the supply chain as a whole. These solutions also must be integrated with other disparate technologies, which often come at significant cost and time and adds latency to operations.
Other companies that offer comprehensive solutions, most notably Witron, Honeywell, Dematic, Vanderlande, Knapp AG, SSI Schaefer and Swisslog, have systems that are composed of a disparate set of mechanically complex point solutions with numerous single points of failure. These systems are challenging to implement and expensive to adapt to changing customer needs and SKU variation. Even the comprehensive mechanical systems require significant manual labor. They are frequently based on pallet and partial pallet storage techniques, which require additional inventory and warehouse space.
Since we expanded into e-commerce with our micro-fulfillment system, Knapp AG, Exotec, Ocado, Geek+, Hai Robotics and AutoStore are competitors. However, they focus exclusively on individual order fulfillment and lack case picking technology.
Customers
Customer Base
We have a strong blue-chip customer base that includes some of the world’s largest retailers and wholesale grocers, including Walmart, Albertsons, our affiliate, C&S Wholesale Grocers, GreenBox, and Target.
Walmart
We have worked with Walmart since 2015 and entered into the initial Walmart Master Automation Agreement (“Walmart MAA”) in 2017 and restated and amended that agreement in January 2019. In April 2021, we amended the Walmart MAA to expand our commercial relationship with Walmart and the scope of the Walmart MAA to the implementation of our systems across 25 of Walmart’s 42 regional distribution centers. In May 2022, we again amended and restated the Walmart MAA (“A&R MAA”) to further expand our commercial relationship with Walmart and the scope of the Walmart MAA to the implementation of additional systems across all of Walmart’s 42 regional distribution centers. The A&R MAA added approximately an additional $6.1 billion to our backlog at that time.
The implementation of our systems began in 2021 and will continue based upon an agreed-upon timeline, subject to limited adjustment, with the implementation of all systems to begin by the end of 2029. For each system, Walmart pays us:
• the cost of implementation, including the cost of material and labor, plus a specified net profit amount, subject in certain cases to a capped cost amount;
• for software maintenance and support for a minimum of 15 years following preliminary acceptance of the system and with annual renewals thereafter; and
• for spare parts and other miscellaneous expenses.
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Walmart also pays us for operation services for systems installed in the first four distribution centers for an operation service period for each system that ends on the third anniversary of preliminary acceptance of the final system installed in a building and for other systems as requested.
The initial term of the A&R MAA expires in May 2034 with annual renewals of the term thereafter. At any time, either party may terminate the A&R MAA in the event of insolvency of the other party or a material breach of the other party that has not been cured. Walmart may also terminate the A&R MAA at any time if we fail to meet certain performance standards or undergo certain change of control transactions.
Pursuant to the A&R MAA, we must provide Walmart notice in certain circumstances, including if we explore transactions, that would reasonably be expected to result in a change of control or sale of 25% or more of the voting power of Symbotic. Such transactions are prohibited for specified time periods following such notice, and we must allow Walmart to participate on terms and conditions substantially similar to those of other third-party participants. We have also agreed to certain restrictions on our ability to sell or license our products and services to a specified company or its subsidiaries, affiliates, or dedicated service providers.
In December 2021, we entered into an Investment and Subscription Agreement (the “Investment and Subscription Agreement”) with Walmart. Pursuant to the Investment and Subscription Agreement, in connection with the A&R MAA, Walmart purchased 267,281 units of Warehouse Technologies LLC (“Warehouse”), or 3.7% of the total outstanding units of Warehouse at such time. As a result of the investment pursuant to the Investment and Subscription Agreement and subsequent investments, as of September 27, 2025, Walmart had beneficial ownership of approximately 13% of our issued and outstanding common stock.
Pursuant to the Investment and Subscription Agreement and as a result of its ownership, Walmart has the right to designate a Walmart employee of a certain seniority level to attend all meetings of our board of directors in a nonvoting observer capacity, except in certain circumstances, including where such observer’s attendance may be inconsistent with the directors’ fiduciary duties to the Company or where such meetings may involve attorney-client privileged information, a conflict of interest between the Company and Walmart or information that the Company determines is competitively or commercially sensitive. Additionally, pursuant to the Investment and Subscription Agreement and subject to certain exceptions described therein, Walmart is subject to a standstill agreement that limits Walmart’s ability to pursue certain transactions with respect to the Company until the earlier of (i) December 12, 2025 and (ii) the later of (a) the date on which Walmart owns less than 5% of the fully diluted equity of the Company, and (b) the date that is six months after Walmart no longer has the board observer rights described above.
Pursuant to the 2025 Walmart MAA, we are operating several micro-fulfillment systems, which we will continue to support. We will also engage in a development program funded by Walmart to enhance current online pickup and delivery fulfillment systems and design new micro-fulfillment systems to meet the needs of current and future customers. The 2025 Walmart MAA provides for a commitment, subject to the satisfaction of defined system performance metrics, from Walmart to purchase 400 micro-fulfillment systems, with an option for Walmart to purchase an additional 200, exercisable by Walmart within 30 days following acceptance of the 220 th micro-fulfillment system under the terms of the 2025 Walmart MAA. Associated with this development program, Walmart will pay us a total of $520 million, including $230 million that was paid at the closing of acquisition of ASR, $165 million payable on the first anniversary of the acquisition and $125 million payable on the second anniversary of the acquisition.
We will pay Walmart $175 million upon Walmart’s acceptance of the first micro-fulfillment system and $175 million if Walmart elects to purchase the additional 200 systems.
For each micro-fulfilment system, Walmart will pay us:
(a) the cost of implementation, including the cost of material and labor, plus a specified net profit amount, subject in certain cases to a capped cost amount;
(b) for software maintenance and support for a minimum of 15 years following preliminary acceptance of the system and with annual renewals thereafter; and
(c) for spare parts and other miscellaneous expenses.
Under certain circumstances, if we commercialize substantially similar micro-fulfillment systems for eaches (or the software used within them) with third parties, we will pay Walmart a royalty fee.
The initial term of the 2025 Walmart MAA will expire on its twelfth anniversary. At any time, either party may terminate it if the other party becomes insolvent or the other party fails to cure a material breach. Walmart may also terminate it at any time if we fail to meet certain performance standards or undergo certain changes of control. We have also agreed to
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certain restrictions on our ability to sell or license our products and services to a specified company or its subsidiaries, affiliates, or dedicated service providers, including a quantitative limit on the sale or license of systems to third parties.
GreenBox
In July 2023, in conjunction with entities related to the SoftBank Group, we established GreenBox, a strategic joint venture to build and automate supply chain networks globally by operating and financing our advanced A.I. and automation technology for the warehouse. We own 35% of GreenBox and SoftBank Group owns 65% of GreenBox.
In July 2023, we entered into a commercial agreement with GreenBox that sets forth the terms, conditions, rights and obligations governing the design, installation, implementation and operation of our system for GreenBox. On the terms and subject to the conditions set forth therein, the commercial agreement provides for a commitment from GreenBox to expend at least $7.5 billion in the aggregate to purchase our systems over a six-year period pursuant to an agreed-upon timeline with implementation of our systems which began in fiscal year 2024. For each system, GreenBox will pay us: (i) the cost of implementation, including the cost of material and labor, plus a specified net profit amount; (ii) for software maintenance and support; and (iii) for spare parts and other miscellaneous expenses. The initial term of the commercial agreement with GreenBox expires on July 23, 2027, subject to a two-year extension by GreenBox if, at the end of the initial term, project SOWs (as defined in the commercial agreement) have not been executed with respect to our systems with an aggregate purchase price of GreenBox’s purchase commitment. At any time, either party may terminate the commercial agreement in the event of insolvency of the other party or a material breach of the other party that has not been cured.
Research and Development
We have invested over $1 billion in developing technology for our systems, which is protected by approximately 1,100 issued and/or pending patents. Our engineers have extensive robotics and software experience and have been working on our product portfolio for over 15 years. We conduct our research and development at our headquarters in Wilmington, Massachusetts.
Our research and development activities generate a continuous cycle of meaningful innovations and currently include programs in the following areas:
• Expand our capabilities and improve our technology : We aim to continuously advance our hardware and software development to offer better solutions to our customers that benefit their needs. Specifically, we intend to continue innovating our robust A.I.-powered robots alongside our proprietary software to continue to help our customers optimize operational efficiency. For example, we recently announced our next-generation storage and performance-improving power technology for our SymBot™® mobile robots.
• Expand system offerings : As our existing customers’ needs shift and expand, we will innovate, evolve and be flexible. We will continue to innovate our existing systems as well as introduce new offerings in specific areas for which we do not have a solution, such as tailoring our systems to handle non-ambient foods. This will not only allow us to deepen our penetration within existing customers, but also grow our customer base in adjacent applications.
Sales and Marketing
We go to market via a direct sales model. Given the size, complexity, and value of our systems, our sales have come from long-term discussions between our management team and senior-level executives at our customers. As we progress, we intend to accelerate our sales cycle as we begin to expand our marketing efforts and transition from a small number of very large transactions to more widespread adoption of our systems.
Manufacturing and Suppliers
We operate a repair/service facility center with engineering support in Wilmington, Massachusetts. The repair operation ensures customer uptime. It also services deployed Bots and components needing repairs. The engineering and prototype areas focus on innovation. It is staffed with a mix of permanent and temporary employees to manage peak workload and can operate two shifts when needed. We manufacture with third-party contract manufacturers, which has allowed us to efficiently scale production capabilities, optimize resources, and foster agility in meeting growing market demand.
We also purchase lifts, fixed place robots, conveyors, and steel racking equipment from a wide range of vendors to complete our systems.
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Intellectual Property
Our ability to drive innovation in the robotics and A.I. automation markets depends in part upon our ability to protect our core technology and the intellectual property therein and thereto. We seek to protect our intellectual property rights in our core technology through a combination of patents, trademarks, copyrights, and trade secrets. This includes the use of non-disclosure and invention assignment agreements with our contractors and employees and the use of non-disclosure agreements with our customers, vendors, business partners and universities.
Unpatented research, development, know-how, and engineering skills make an important contribution to our business and core technology, but we pursue patent protection when we believe it is possible and consistent with our overall strategy for safeguarding our intellectual property. As of September 27, 2025, we had over 650 issued patents in 17 countries and over 410 additional patents pending worldwide. Our issued patents are scheduled to expire between January 2026 and March 2044.
Employees and Human Capital Resources
Our employees are critical to our success and innovation. As of September 27, 2025, we employed approximately 2,000 full-time employees, including approximately 1,950 based in the United States. Approximately 30% of our employees are based at, or out of, our Wilmington, Massachusetts headquarters. Approximately half are located across customer sites where they install, commission, and maintain our systems. We also engage consultants and contractors, as needed, to supplement our permanent workforce.
Nearly half of our employees are engaged in engineering, research and development, and related technical functions. Our workforce brings decades of collective experience across automation, robotics and supply chain disciplines.
We believe our relationship with our employees is strong. We have not experienced any work stoppages. None of our employees are subject to a collective bargaining agreement or represented by a labor union.
Our human capital objectives include, as applicable, recruiting, developing, motivating and retaining a high-performing, diverse workforce. Our incentive plans are designed to attract and retain top talent and to align compensation with our performance through a combination of cash, equity and other benefits.
As a leader in warehouse automation, we are committed to building a vibrant and diverse global robotics organization. We foster a culture that celebrates the uniqueness of each and every employee, enabling diverse perspectives to drive innovation and problem solving as we reimagine the supply chain industry.
Talent Attraction
Our success depends on attracting, developing and retaining exceptional talent to build future technical and leadership capability. We continue to invest in initiatives to recruit top professionals in robotics, A.I. and industrial automation, while expanding early-career and leadership development programs that strengthen our future workforce. Through university partnerships and our internship and cooperative education programs, we engage students across technology and operations disciplines by providing hands-on experience and building a pipeline of talent aligned with our evolving business needs. As A.I. continues to reshape our industry, we anticipate continued competition for skilled professionals. Our strategy focuses on positioning us as a destination for top talent, while developing the expertise and leadership required to sustain innovation and growth in a rapidly changing market.
Talent Management
Developing and retaining exceptional talent is essential to achieving our business priorities and delivering braggingly happy customers. We take a strategic approach to talent management. We focus on understanding the capabilities required for today’s needs and tomorrow’s growth and investing to build them across our workforce. This includes disciplined assessment of key talent and ongoing discussions at the leadership and board of directors levels to maintain visibility into our talent landscape.
Our talent practices span the employee lifecycle, balancing engagement with leadership and technical development to equip employees for evolving business demands. We make targeted investments such as bespoke coaching and upskilling for high-potential individuals along with broad, programmatic investments to develop our future leaders. We also invest in scalable, on-demand learning and launched a regular employee listening cadence, including companywide pulse surveys, to strengthen engagement and build a culture where top talent can join, grow, and stay.
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Competitive Pay and Benefits
At Symbotic, we have designed our compensation plans to attract and retain the best talent in the industry. Our goal is to drive employee performance by aligning incentive pay with short and long-term company results. Our employee benefit programs are comprehensive and competitive, and we continuously evaluate them to ensure that they are competitive and effective.
Government Regulations
Compliance with various governmental regulations has an impact on our business, including our capital expenditures, earnings and competitive position, which can be material. We incur costs to monitor and take actions to comply with governmental regulations that are applicable to our business, which include, among others, laws, regulations and permitting requirements of federal, state and local authorities, including related to environmental, health and safety, anti-corruption and export controls.
Environmental Matters
We are subject to domestic and foreign environmental laws and regulations governing our operations including, but not limited to, emissions into the air and water and the use, handling, disposal and remediation of hazardous substances. A certain risk of environmental liability is inherent in our production activities, operation of our system and the disposal of our system. These laws and regulations govern, among other things, the generation, use, storage, registration, handling and disposal of chemicals and waste materials, the presence of specified substances in electrical products, the emission and discharge of hazardous materials into the ground, air or water, the cleanup of contaminated sites, including any contamination that results from spills due to our failure to properly dispose of chemicals and other waste materials and the health and safety of our employees.
Export and Trade Matters
We are subject to anti-corruption laws and regulations imposed by governments around the world with jurisdiction over our operations, including the U.S. Foreign Corrupt Practices Act, as well as the laws of the countries where we do business. We are also subject to various trade restrictions, including trade and economic sanctions and export controls, imposed by governments around the world with jurisdiction over our operations. For example, in accordance with trade sanctions administered by the U.S. Department of Treasury’s Office of Foreign Assets Control and export controls administered by the U.S. Department of Commerce, we are prohibited from engaging in transactions involving certain persons and certain designated countries or territories, including Cuba, Iran, Syria, North Korea and the Crimea Region of Ukraine. In addition, our system may be subject to export regulations that can involve significant compliance time and may add additional overhead cost to our system. In recent years the United States government has a renewed focus on export matters. For example, the Export Control Reform Act of 2018 and regulatory guidance thereunder have imposed additional controls and may result in the imposition of further additional controls, on the export of certain “emerging and foundational technologies.” Our current and future system may be subject to these heightened regulations, which could increase our compliance costs.
See “Risk Factors—Other Risks—We are subject to U.S. and foreign anti-corruption and anti-money laundering laws and regulations and could face criminal liability and other serious consequences for violations, which could adversely affect our business, financial condition and results of operations” for additional information about the anti-corruption and anti-money laundering laws that may affect our business.
Employment Matters
We are subject to federal, state, local and foreign laws and regulations relating to the protection of our employees. In addition to the requirements of the state and local governments of the communities in which we operate, we must comply with federal health and safety regulations, the most significant of which are enforced by Occupational Safety and Health Administration (“OSHA”).
While we believe that we comply with all applicable worker safety regulations in the U.S. as governed by OSHA and our global sites meet all local regulations for worker safety, we cannot ensure that our compliance program will prevent the violation of one or more laws or regulations, or that a violation by us or an employee will not result in the imposition of a monetary fine.
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Data Privacy
Because we handle, collect, store, receive, transmit and otherwise process certain personal information of users and employees, we are also subject to federal, state and foreign laws related to the privacy and protection of such data, including the California Consumer Privacy Act and the General Data Protection Regulation of the European Union. The scope of data privacy laws and regulations worldwide continues to evolve, and we anticipate that the number of data privacy laws and the scope of individual data privacy and protection rights will increase.
We have developed internal compliance programs in an effort to comply with legal and regulatory requirements for the warehouse automation industry and with respect to data privacy and security. For example, our compliance programs include product design safety reviews, which includes review of privacy and cybersecurity. While we are firmly committed to full compliance with all applicable laws and have developed appropriate policies and procedures in order to comply with the requirements of the evolving regulatory regimes, we cannot ensure that our compliance program will prevent the violation of one or more laws or regulations, or that a violation by us or an employee will not result in the imposition of a monetary fine.
Available Information
Our internet address is www.symbotic.com. Our website and the information contained therein or linked thereto are not part of this Annual Report. We make available free of charge through our internet website our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements, registration statements and amendments to those reports filed or furnished pursuant to the Exchange Act of 1934, as amended (the “Exchange Act”) as soon as reasonably practicable after we electronically file such material with, or furnish them to the SEC. The SEC maintains a website that contains reports, proxy statements and other information regarding issuers that file electronically with the SEC. These materials may be obtained electronically by accessing the SEC’s website at www.sec.gov.