Symbotic Inc.

Good day, and thank you for standing by. Welcome to Symbiotics' fourth quarter and fiscal year 2022 results webcast. At this time, all participants, on a listen-only note, after the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you need to press star 1-1 on your telephone. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jeff Evanson. Please go ahead.

Thank you, Victor. Hello, everyone. Welcome to Symbiotic's fourth quarter and fiscal year 2022 results webcast. I'm Jeff Evanson, Vice President of Investor Relations and Corporate Development. 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 Symbiotics, 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, certain financial measures may be discussed 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 has been furnished to the SEC and is available in the investor relations section of our website and in our filings with the SEC. These non-GAAP measures may not be comparable to measures used by other issuers. Today, we will provide guidance for the first quarter, including revenue and adjusted EBITDA. We're not providing guidance for net loss today, which is the most comparable gap financial measure to adjusted EBITDA. We're not able to provide reconciliations of adjusted EBITDA to gap financial measures because certain items required for such reconciliations are outside of our control or cannot be reasonably predicted, such as the provision for stock-based compensation. On today's call, we're joined by Rick Cohen, Symbiotics founder and chief executive officer, and Tom Ernst, Symbiotics chief financial officer. These executives will discuss our fourth quarter and fiscal year 2022 results, followed by Q&A. And with that, I'll turn it over to Rick. Rick? Thank you, Jeff.

2022 has been an incredible year. We went public in June, and over the past year, we've signed new contracts to increase our backlog to over $11 billion, and we added a new customer with a multi-site contract as well. Our team has responded with incredible effort and passion, and in August, we gave every full-time employee shares in Symbotic. We're all partners here. The proof is in our quarterly results. Fourth quarter revenue more than doubled compared to a year ago, and gross profit and adjusted EBITDA both reached record levels. Our roadmap is clear. We are facing the challenges of hypergrowth, and we are executing well and very focused on customer deliverables of quality and speed. The market for our systems is huge, and demand is growing with repeat orders from new and existing customers that are battling for our capacity. The global supply chain is undergoing transformational change, and as the innovation leader, we are benefiting from a variety of trends. Traditional big tech is laying off while we are hiring. Our supplier network is improving and supply chain shortages are going away, just as we are increasing orders and partnerships, and demand for our systems is increasing because we solve critical problems in providing people with the necessities of life, like food, like clothing, and like household goods. During the quarter, we significantly increased internal manufacturing output. We also accelerated system deployments. and secured Tier 1 partner capacity to grow even faster, while we remain focused on our internal and external innovations. As announced in our earnings release, I am returning to the role of Chief Executive Officer. When reflecting on our critical next phase of growth, we determined that a single point of leadership is the best way to lead Symbotic. I'd like to take this opportunity to thank Michael Leparco for his many contributions, including advancing our partner network and helping us to scale for future growth. 2023 is off to a great start, and we're excited about our future. Now, Tom will discuss our financial performance and our outlook. Tom?