Symbotic Inc.

Thank you for standing by and welcome to Symbiotics' fourth quarter and fiscal 2024 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. To remove yourself from the queue, press star 1 1 again. I would now like to hand the call over to Charlie Anderson, VP, Investor Relations. Please go ahead.

Thank you. Hello. Welcome to Symbiotics' fourth quarter 2024 financial results webcast. I'm Charlie Anderson, Symbiotics' VP of Investor Relations. Some of the statements that we make today regarding our business operations and financial performance may be considered forward-looking. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our Form 10-K, including the risk factors. We undertake no obligation to update any forward-looking statement. In addition, during this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's press release, which is distributed and available to the public through our Investor Relations website, located at ir.symbiotic.com. On today's call, we are joined by Rick Cohen, Symbiotics founder, chairman, and chief executive officer, and Carol Hibbard, Symbiotics chief financial officer. These executives will discuss our fourth quarter and full year fiscal 2024 results and our outlook, followed by Q&A. With that, I'll turn it over to Rick to begin. Rick?

Thank you, Charlie. Good afternoon, and thank you for joining us to review our most recent results. With a strong finish to the year, delivering on our commitment to quickly return to high growth, and historical gross margin levels. This was highlighted by completing a record number of system deployments in the fourth quarter, reflecting solid project execution. System starts also reaccelerated to a record level. For the full year, we grew revenue 55%, more than double the number of sites in operation, and more than doubled our software revenue, reflecting our ability to convert our backlog and scale. Importantly, we expect to maintain a high rate of year-over-year revenue growth while continuing to stabilize our gross margin in our first quarter. Carol will expand on this in the guidance. On the customer front, we recently announced a new customer, Walmex. By expanding into a new geography, Mexico, we are now officially executing on all five of the growth vectors laid out at our investor day in May. namely customer penetration and expansion, new verticals, new products, and now new geographies. Working with WOMX drives home the point that our solution can deliver significant ROI for customers in new geographies and further expands our addressable market. We believe customers in these geographies see the value of our palletizing and transportation savings on top of labor savings. The bottom line is that the number of opportunities we see for our technology portfolio continues to expand, and I'm excited by what that means in both the short and long term for my fellow shareholders. Turning to Greenbox, I'm pleased to report Greenbox continues to make progress building out its team, customer pipeline, and site network. This quarter, we began deployment on a second Greenbox location, this time in the state of Georgia. On the innovation front, we highlighted last quarter that we added vision capabilities to SIMBOTS at customer sites. Among other features, vision gives our customers the ability to perform teleops, which enables remote bot control for enhanced productivity. We have now successfully demonstrated this capability at multiple sites and view it as a key differentiator. We're making targeted investments in both people and products given the expanding opportunities we see in both new products and new geographies to augment our growth. In summary, this quarter we delivered on our commitment to quickly return to higher system gross margin, strong top line growth, and reaccelerate system starts. Our key objectives for 2025 are scaling for growth and investing in our innovation engine, all while maintaining a focus on delivering high-quality systems for our customers. By doing so, we look forward to another year of strong top-line growth, a significant rise in completed sites as our deployment process improves, and expanding profitability. I want to thank our entire team for their efforts, our customers for their trust, and our investors for their support. Now, Carol will discuss our financial results and outlook. Carol?