Symbotic is a company that makes robots and software to help with warehouses and supply chain. They recently shared some news about how they did in the last three months. They made more money than people expected, but they also lost some money instead of making a profit. This made some people worried, so the value of the company's stock went down by 17.12% after the news. Read from source...

Bearish

Symbotic Inc (SYM) shares are tumbling in Monday's after-hours session on the heels of the company's third-quarter financial results. The company reported an earnings loss of 2 cents per share, missing estimates for positive earnings of 1 cent per share. The company had $870 million in cash, cash equivalents and marketable securities at quarter's end, down $81 million from the end of the prior quarter. Symbotic's CEO Rick Cohen commented on the results, saying, "Our system gross margin fell below expectations due to elongated construction schedules and implementation costs." The company expects fourth-quarter revenue to be in the range of $455 million to $475 million, with adjusted EBITDA of $28 million to $32 million.