Symbotic Inc.

Good day and thank you for standing by. Welcome to the Symbiotic Second Quarter 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Charlie Anderson, Symbotic's Vice President of Investor Relations. Please go ahead.

Thank you. Welcome to Symbotic's second quarter of fiscal 2025 financial results webcast. I'm Charlie Anderson, Symbotic's 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 can differ materially. Please refer to our Form 10-K, including the risk factors. We undertake no obligation to update any forward-looking statements. 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.symbiotic.com. On today's call, we are joined by Rick Cohen, Symbiotics founder, chairman, and chief executive officer, and Carol Hibbert, Symbiotics chief financial officer. These executives will discuss our second quarter fiscal year 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 second quarter, we delivered strong results, both financially and operationally. Our revenue grew by 40% year over year, and our gross margins expanded significantly, reflecting our focus on project execution while controlling costs and delivering high-quality deployments. Carol will give more detail on the level of improvements in her remarks, but at a high level, the changes we have made to improve our deployment processes are beginning to pay off. These include a more streamlined and predictable workflow and installation, closer coordination with contractors by insourcing construction management, and a strong emphasis on quality management principles to minimize errors and rework, among others. With stronger project execution, we are well-positioned to access future growth and are adding talent to do so. That includes Brian Alexander, our new Senior Vice President Commercial, who joined us recently from Huff Group, where he served in roles including Chief Operating Officer and Chief Marketing Officer, serving multiple Fortune 500 clients with specialized supply chain solutions. Additionally, Greenbox, our warehouse as a service joint venture with SoftBank, recently hired Ashraf Chowdhury as CEO. Oshkosh joins Greenbox from Siva Logistics, where he oversaw the third largest contract logistics business in the world as its global managing director. Greenbox also began a third site during the quarter, and we remain excited about our prospects. During the quarter, we also closed our acquisition of Walmart Advanced Systems and Robotics, or ASR, which expands our product portfolio to include a micro-fulfillment solution, both by ambient and perishable environments. Beyond this addition, we have compelling innovation on our roadmap to deliver even more value to our customers while also building upon the progress we've made to deploy systems more efficiently. I'm excited to share more in the coming quarters. In summary, Symbotic is in an advantageous position going forward. We have a strong multi-year opportunity with nearly $23 billion in backlog, Our margins have expanded due to improved execution, and we continue to attract impressive talent. I want to close my remarks by thanking our customers for their continued trust, our team for their strong execution, and our investors for their support of our company. Now, Carol will discuss our financial results and outlook.