Symbotic Inc.

Hello, and welcome to Symbiotic First Quarter 2025 Financial Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask the question during the session, you would need to press star 11 on your telephone. You would then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. I would now like to turn the conference over to Charlie Anderson, Vice President of Investor Relations. You may begin.

Thank you. Hello. Welcome to Symbiotics' first quarter 2025 financial results webcast. I'm Charlie Anderson, Symbiotics' Vice President 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 earnings press release, which is distributed and available to the public through our investor relations website, located at ir.symbotic.com. On today's call, we are joined by Rick Cohen, Symbotic's founder, Chairman and Chief Executive Officer, and Carol Hibbard, Symbiotics Chief Financial Officer. These executives will discuss our first quarter fiscal 2025 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. In the first quarter, we continued to deliver high growth while enhancing our technology position. Last quarter, I highlighted that our key objectives for our fiscal year 2025 were scaling for growth and investing in our innovation engine while delivering high-quality systems to our customers. And that by doing so, we would look forward to another year of strong top-line growth and expanding profitability. On the scaling front, we believe we have made good progress building out the team to support growth and deployment. Deployment execution is critical for our company, and we are seeing progress from the change we made last year, bringing more of the deployment functions in-house. In addition, we continue to focus on project execution and schedule. In terms of investing in innovation, we recently brought aboard a new CTO, James Kupfer. James brings a wealth of experience in robotics and software, with relevant leadership experience at Toyota and Google. James and the team are working on several exciting initiatives, notably new simulation tools intended to allow us to deploy new features more rapidly. This capability was bolstered by our acquisition of OmniLabs during the quarter, which allowed us to add software assets and tools that accelerate our simulation efforts company-wide. Having a strong technology position is at the core of our acquisition of Walmart's advanced systems and robotics business and the related commercial agreement to automate Walmart's store-level accelerated pickup and delivery centers, or APDs. As I noted a few weeks ago when we announced the deal, we see this acquisition as giving Symbotic arguably the industry's strongest collection of products, talent, and intellectual property for supply chain automation. Our goal is to help customers automate all the way from the manufacturing plane to the store and eventually to the consumer. We closed this transformative acquisition last week and have already begun our integration efforts. As a reminder, we will first be in a development phase which will include the building of prototypes. This is a logical extension of our core technology and Walmart is committed to deploying our technology in 400 stores over a multi-year period, representing over $5 billion of future backlog, provided we meet key performance criteria during this phase. Stepping back, we've closed three acquisitions in the last seven months, which we believe sets us apart as a leader in this space. Further, Walmart's selection of us to automate their APDs is a strong acknowledgement of our capabilities. Our technical talent continues to grow, and we remain focused on expanding our profitability. I want to close my remarks by thanking our team for their hard work this quarter, our customers for their continued trust, and our investors for their support of our company. Now, Carol will discuss our financial results and outlook. Carol?