Symbotic Inc. (SYM) Q1 2024 Earnings Call Transcript

Symbotic Inc. (NASDAQ:SYM) Q1 2024 Earnings Conference Call February 5, 2024 5:00 PM ET

Company Participants

Jeff Evanson - Vice President, Investor Relations and Corporate Development
Richard B. Cohen - Chairman of the Board and Chief Executive Officer
Carol Hibbard - Chief Financial Officer

Conference Call Participants

Piyush Avasthy - Citigroup
Ross Sparenblek - William Blair
Matt Summerville - D.A. Davidson
Mark Delaney - Goldman Sachs
Nicole DeBlase - Deutsche Bank
Chris Snyder - UBS
Jim Ricchiuti - Needham and Company
Ken Newman - KeyBanc Capital Markets
Joe Giordano - TD Cowen
Greg Palm - Craig-Hallum
Derek Soderberg - Cantor Fitzgerald
Rob Mason - Baird

Operator

Thank you for standing by, and welcome to Symbotic's First Quarter Fiscal 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentations, there'll be a question-and-answer session. [Operator Instructions] Please be advised that today's call is being recorded.

At this time, I'd like to turn the call over to Jeff Evanson, Vice President of Investor Relations. Please go ahead.

Jeff Evanson

Thanks, Val. Hello, everyone. 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 a result of the 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