Shares of Symbotic Inc. (SYM) slipped over 12% on Thursday morning after it reported first-quarter results and issued a second-quarter outlook.
SYM is currently trading at $27.08, down 3.84 or 12.42%, on the Nasdaq. The stock opened its trading at $26.00 after closing Wednesday at $30.92. The stock has traded between $17.11 and $50.40 in the past 52-week period.
Revenues for the first quarter rose to $486.7 million from $359.9 million last year. Net loss for the quarter was $3.5 million or $0.03 per share, compared to a loss of $2.8 million or $0.03 per share last year.
Looking forward to the second quarter, Symbotic expects revenue of $510 million to $530 million, and adjusted EBITDA of $26 million to $30 million.
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