{"schemaVersion":1,"research":true,"symbol":"sym","name":"Symbotic","topic":"moat","path":"/stock/sym/moat","status":"published","version":4,"updatedAt":"2026-10-17T21:52:43.313Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"Symbotic has a narrow moat supported by integrated hardware and software, long maintenance commitments, and contractual restrictions on cancellation. These create customer dependency and protect contracted economics. Pricing power is qualified: cost pass-through and specified profit arrangements help, but fixed or capped fees limit flexibility, and rising gross profit does not establish unrestricted pricing power. Deployment growth supports commercial traction, while the 2026 component recall demonstrates execution risk. The passages do not establish durable technological superiority or a wide moat.","advantages":[{"mechanism":"switching_costs","claim":"Integrated hardware and essential software, followed by long maintenance relationships, create switching friction. Contracts without termination for convenience reinforce this advantage during deployment.","durability":"The substantial majority of maintenance contracts run for 15 years, and disclosed Walmart arrangements require at least 20 years of support payments. This supports a long contractual relationship, although it does not guarantee competitive strength or renewal after expiry.","risks":"Performance failures can permit backlog termination. Fixed or capped pricing, replacement costs, technological change, and dependency on Walmart can weaken the economics despite customer commitment. Management's expectation of high retention is not a measured retention result.","invalidation":"The thesis would weaken materially if customers terminated meaningful contracted deployments for performance failures, replaced operating systems with competing solutions, declined maintenance continuation at expiry, or obtained concessions that eliminated protected project economics.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5","e6","e7","e8","e9"],"counterEvidenceIds":["e10","e11","e12","e13","e14","e15"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Remaining Performance Obligations: September 27, 2025 backlog","excerpt":"Remaining Performance Obligations (i.e., backlog) As of September 27, 2025, we had approximately $22.5 billion of backlog of orders from our customers, of which approximately 12% is expected to be recognized as revenue in fiscal year 2026."},{"id":"e2","sourceId":"filing-1","location":"Remaining Performance Obligations: termination for convenience","excerpt":"Our contracts that we use to determine this backlog do not contain termination for convenience clauses."},{"id":"e3","sourceId":"filing-1","location":"Remaining Performance Obligations: termination conditions","excerpt":"Outside of insolvency, or specific change in control provisions, most of our backlog can only be terminated if we do not deliver the systems with its defined performance standards."},{"id":"e4","sourceId":"filing-2","location":"Revenue: interdependence of hardware and essential software","excerpt":"The hardware and essential software are each not capable of being distinct because our customers cannot benefit from the hardware or software on their own."},{"id":"e5","sourceId":"filing-2","location":"Software Maintenance and Support: payment and contract duration","excerpt":"Fees for Software Maintenance and Support are typically payable in advance on a quarterly, or annual basis over the term of the Software Maintenance and Support contract, which term can range from one to 15 years, but for a substantial majority of our Software Maintenance and Support contracts is 15 years."},{"id":"e6","sourceId":"filing-3","location":"Walmart commercial arrangements: implementation and support payment terms","excerpt":"For each System, Walmart pays us: • the cost of implementation, including the cost of material and labor, plus a specified net profit amount, subject in certain cases to a capped cost amount; • for software maintenance and support for a minimum of 20 years following preliminary acceptance of the System and with annual renewals thereafter; and • for spare parts."},{"id":"e7","sourceId":"filing-2","location":"Nine-month gross profit discussion: additional operating systems under maintenance","excerpt":"The increase in Software Maintenance and Support gross profit is driven by the revenue from the additional Operational Systems which are under Software Maintenance and Support contracts for the nine months ended June 27, 2026, as compared to the nine months ended June 28, 2025, while costs to perform our maintenance and support services remained relatively flat."},{"id":"e8","sourceId":"filing-1","location":"Remaining Performance Obligations: steel cost pass-through","excerpt":"For example, in most cases, increases in steel prices are passed on to the customer, preserving our gross profit."},{"id":"e9","sourceId":"filing-2","location":"Nine-month Systems gross profit discussion: value capture and deployment growth","excerpt":"The increase in Systems gross profit is primarily driven by our capture of the increasing value we are driving for customers as well as the 77 Systems in Deployment during the nine months ended June 27, 2026, as compared to 46 Systems in Deployment during the nine months ended June 28, 2025."},{"id":"e10","sourceId":"filing-1","location":"Backbone of Commerce: management retention expectation","excerpt":"We believe this will result in high rates of customer retention."},{"id":"e11","sourceId":"filing-2","location":"Revenue: cost-plus, fixed and capped System fees","excerpt":"Fees for Systems are typically either cost-plus fixed fee amounts, fixed, or in certain cases, subject to a capped cost amount that are due based on the achievement of a variety of milestones beginning at contract inception through final acceptance."},{"id":"e12","sourceId":"filing-2","location":"Warranty: component replacement program and targeted recall","excerpt":"Activity related to the warranty accrual is as follows (in thousands): Three Months Ended Nine Months Ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025 Balance at beginning of period $ 81,575 $ 45,725 $ 43,607 $ 31,935 Provision 266 4,121 42,049 22,629 Warranty usage (2,727) (2,458) (6,542) (7,176) Balance at end of period $ 79,114 $ 47,388 $ 79,114 $ 47,388 In the second quarter of fiscal year 2026, following monitoring and testing that identified performance trends requiring further evaluation, the Company initiated a replacement program for certain System components, including a targeted recall."},{"id":"e13","sourceId":"filing-2","location":"Warranty: additional replacement and repair liability","excerpt":"The Company recorded an additional liability of $34.3 million as of March 28, 2026, representing estimated costs associated with component replacements within the structure and related repairs."},{"id":"e14","sourceId":"filing-1","location":"Risk factors: technological change","excerpt":"•If we fail to adapt and respond effectively to rapidly changing technology, evolving industry standards and changing business needs, requirements or preferences, our systems may become less competitive."},{"id":"e15","sourceId":"filing-2","location":"Forward-looking statement cautions: Walmart dependency and competition","excerpt":"Forward-looking statements made in this Quarterly Report on Form 10-Q also include, but are not limited to, statements with respect to: •the future performance of Symbotic’s business and operations; •expectations regarding revenues, expenses, adjusted EBITDA and anticipated cash needs; •expectations regarding cash flow, liquidity and sources of funding; •expectations regarding capital expenditures; •the anticipated benefits of Symbotic’s leadership structure; •the effects of pending and future legislation; ii •the effects of inflation, prevailing price levels, exchange rates, changes in trade agreements and trade protection measures including tariffs and other economic factors; •the direct and indirect effects of geopolitical conditions in the United States and in global economies, including those resulting from acts of war and conflicts and responses to such events; •business disruption; •disruption to the business due to Symbotic’s dependency on Walmart; •increasing competition in the warehouse automation industry; •any delays in the design, production or launch of Symbotic’s systems and products; •the failure to meet customers’ requirements under existing or future contracts or customers’ expectations as to price or pricing structure; •any defects in new products or enhancements to existing products; •the fluctuation of operating results from period to period due to a number of factors, including the pace of customer adoption of Symbotic’s new products and services and any changes in its product mix that shift too far into lower gross margin products; and •any consequences associated with joint ventures and legislative and regulatory actions and reforms."},{"id":"e16","sourceId":"filing-2","location":"Business overview: issued and pending patent portfolio as of September 27, 2025","excerpt":"Our intellectual property is protected by a portfolio of approximately 1,100 issued and/or pending patents as of September 27, 2025."},{"id":"e17","sourceId":"filing-2","location":"Nine-month Systems gross profit discussion: execution, tariffs and warranty expense","excerpt":"The increase in Systems gross profit was further driven by continued strong project execution and cost discipline, partially offset by increased tariff expenses as tariff regulations continue to evolve, and increased warranty expense."},{"id":"e18","sourceId":"filing-2","location":"Warranty: no additional third-quarter charges","excerpt":"No additional charges were recorded in the third quarter of fiscal year 2026."},{"id":"e19","sourceId":"filing-1","location":"Liquidity: September 27, 2025 cash balance","excerpt":"As of September 27, 2025, we have a cash and cash equivalents balance of $1,245.0 million."},{"id":"e20","sourceId":"filing-1","location":"Liquidity: historical operating cash flows and equity funding","excerpt":"Contractual Obligations and Commitments and Liquidity Outlook Our cash flows from operations along with equity infusions have historically been sufficient to fund our operating activities and other cash requirements."},{"id":"e21","sourceId":"filing-2","location":"Commitments: June 27, 2026 purchase obligations","excerpt":"As of June 27, 2026, the purchase commitments covered by these arrangements are $1.1 billion in the aggregate, of which $1.0 billion are less than one year."},{"id":"e22","sourceId":"filing-2","location":"Variable interest entities: Exol investment, funding commitments and exposure","excerpt":"The Company’s recorded investments in the unconsolidated VIE and related estimated maximum exposure to loss are as follows (in thousands): 29 Table of Contents June 27, 2026 Investments in Unconsolidated VIE Symbotic's Maximum Exposure to Loss Exol $ 140,468 $ 1,491,341 The Company calculated its maximum exposure to loss of $1,491.3 million while considering its equity investment in the VIE, any amounts owed to the Company for services which may have been provided, and future funding commitments of $1,487.9 million."},{"id":"e23","sourceId":"filing-2","location":"Variable interest entities: contractual termination reimbursement offset","excerpt":"If the VIE’s commitment under the Exol Commercial Agreement was taken into consideration, there would be no maximum exposure to loss presented as the VIE’s commitment under the Exol Commercial Agreement exceeds the Company’s future funding commitments."},{"id":"e24","sourceId":"filing-2","location":"Income taxes: three previous fiscal years of cumulative pre-tax losses","excerpt":"The Company has a history of cumulative pre-tax losses for the three previous fiscal years which it believes represents significant negative evidence in evaluating whether its deferred tax assets are realizable."},{"id":"e25","sourceId":"filing-3","location":"Executive compensation: actual fiscal 2025 annual grant mix","excerpt":"In fiscal year 2025, the annual grants for senior executives were made in late January 2025 and were comprised of 67% RSUs and 33% PSUs."},{"id":"e26","sourceId":"filing-3","location":"Executive compensation: PSU metrics and performance periods","excerpt":"PSUs are also designed to balance long-term value creation with an immediate focus on delivering key financial results, ensuring alignment with both near-term objectives and our sustained growth strategy as follows: PSU Weight Performance Metrics Weight Performance Period Award Payout Cumulative Revenue (1) FY25 – FY27 Any awards earned will vest after end of three-year period Cumulative Adjusted Free Cash Flow (2) Revenue FY25 Any awards earned will vest on third anniversary of grant date Adjusted Free Cash Flow (3) (1) We define “Cumulative Revenue” as total revenue over a three-year period."},{"id":"e27","sourceId":"filing-3","location":"Executive compensation: adjusted free cash flow definition","excerpt":"We define it as “Adjusted EBITDA” less purchases of property and equipment and capitalization of internal use software development costs."},{"id":"e28","sourceId":"filing-3","location":"Executive compensation: fiscal 2025 PSU performance determination","excerpt":"PSUs Earned for Fiscal Year 2025 Based on the results, the Compensation Committee determined that 92% of the target PSUs for the fiscal year 2025 portion of the 2025-2027 award (weighted 30%) were earned for the performance cycle."},{"id":"e29","sourceId":"filing-3","location":"Executive compensation: future vesting of earned PSUs","excerpt":"These PSUs will vest as settled in shares of our common stock on the third anniversary of the grant date."},{"id":"e30","sourceId":"filing-3","location":"Executive compensation: CEO fiscal 2025 compensation","excerpt":"Cohen did not receive any cash or equity compensation from us for his services as our Chairman or as our President and CEO for fiscal year 2025."},{"id":"e31","sourceId":"filing-3","location":"Corporate governance: board independence determination","excerpt":"Our board of directors has determined that all members of the board of directors, except Richard Cohen, are independent directors, including for purposes of the rules and regulations of the SEC and Nasdaq."},{"id":"e32","sourceId":"filing-1","location":"Independent auditor report: adverse internal control opinion","excerpt":"We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company’s internal control over financial reporting as of September 27, 2025, based on criteria established in the 2013 Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), and our report dated November 24, 2025 expressed an adverse opinion."},{"id":"e33","sourceId":"filing-2","location":"Controls and procedures: continuing material weakness","excerpt":"Notwithstanding the material weakness in internal control over financial reporting, our management, including our Chief Executive Officer and Chief Financial Officer, have concluded that our consolidated financial statements present fairly, in all material respects, our financial position, results of our operations and our cash flows for the periods presented in this Quarterly Report on Form 10-Q, in conformity with U.S."},{"id":"e34","sourceId":"filing-2","location":"Controls and procedures: remediation implementation and planned ERP solution","excerpt":"Material Weakness Remediation Plan Management has developed a remediation plan, which it began implementing during fiscal year 2025, that includes the following elements: •redesign of the operational processes and evidence requirements for the receipt of goods and services, with a focus on data around documenting the timing of the receipt of goods and services; 48 Table of Contents •implementing additional compensating controls over the timing of the receipt of goods and services, with a continued focus on milestone related expenses; •training of the employees of the organization receiving goods and services; and •implementing a long term ERP system solution to manage vendors which will automate certain aspects of goods and services receipts in fiscal year 2027."},{"id":"e35","sourceId":"filing-3","location":"Related party transactions: CEO relationship with C&S","excerpt":"C&S Wholesale Grocers, Inc. (“C&S”) Our founder, Chair, President and CEO, Richard Cohen, also serves as the executive chairman of C&S; and he and trusts for the benefit of his family are the substantial majority stockholders of that company."},{"id":"e36","sourceId":"filing-3","location":"Audit committee: compliance with service pre-approval procedures","excerpt":"No services were provided to us by Grant Thornton LLP other than in accordance with the pre-approval policies and procedures described above since the adoption of those policies and procedures in 2024."},{"id":"e37","sourceId":"filing-2","location":"Revenue: predominantly perpetual on-premise software licenses","excerpt":"The substantial majority of our software is sold as a perpetual on-premise license, however, we do sell an immaterial amount of term-based on-premise licenses."}],"changes":["No comparable previous version."],"limitations":["Assessment uses only the supplied passages. Source dates are filing dates: November 24, 2025, January 16, 2026, and August 5, 2026; operating observations retain their stated reporting periods.","No company is identified as a competitor in the supplied passages. Customers, partners and companies mentioned in executive biographies are not treated as competitors.","The patent count combines issued and pending patents and does not establish enforceability, technological superiority or exclusion of substitutes. A separate intangible-assets moat is not established.","No network effect, structural cost advantage or efficient-scale barrier is demonstrated. Market-size estimates and future micro-fulfillment development are potential opportunities.","Retention is assessed indirectly from contractual duration, integrated systems and additional operating systems under support. Customer retention rates, replacement frequency and renewal outcomes are absent.","Pricing evidence consists of contractual protections and management's qualitative attribution of gross profit growth to value capture. Comparable realized prices, concessions and independently separated price effects are absent.","Capital discipline evidence is incomplete: the supplied passages omit comprehensive recent cash flow, dilution and investment-return data. The September 2025 cash balance is not a June 2026 liquidity measure.","The proxy supplies actual compensation and governance disclosures, but not sufficient Symbotic ownership or voting-control detail. Earned PSUs awaiting future vesting are not treated as vested awards.","Most evidence is issuer disclosure. The auditor's adverse internal control opinion provides direct contrary evidence; generic risk factors are treated as possible erosion channels, not realized failures."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Hardware and essential software are interdependent, maintenance contracts generally extend 15 years, and backlog contracts exclude termination for convenience. These establish switching friction and contractual protection without relying on margins.","evidenceIds":["e2","e3","e4","e5"]},{"criterion":"durability","grade":2,"rationale":"Long support commitments support persistence, but performance-based termination remains possible and the targeted recall demonstrates a concrete vulnerability. Contract duration does not prove lasting technological leadership.","evidenceIds":["e3","e5","e6","e12","e13"]},{"criterion":"customer_dependency","grade":3,"rationale":"Customers cannot benefit from the hardware or essential software separately, and additional operating systems are generating maintenance revenue under long contracts. Dependency is demonstrated structurally; actual replacement costs and renewal rates are undisclosed.","evidenceIds":["e4","e5","e7"]},{"criterion":"erosion_resilience","grade":2,"rationale":"Cost pass-through and growing supported installations provide protection. Replacement liabilities and tariff expense show that protection is incomplete. No additional third-quarter recall charge is favorable but does not establish that the issue is permanently resolved.","evidenceIds":["e7","e8","e13","e17","e18"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Disclosed Walmart payment terms include implementation costs plus specified profit, while management attributes part of actual Systems gross profit growth to capturing customer value. This supports qualified economic capture, assessed indirectly; fixed and capped arrangements and absent comparable price data prevent a stronger conclusion.","evidenceIds":["e6","e9","e11"]},{"criterion":"retention","grade":3,"rationale":"Long maintenance commitments, non-cancellable backlog subject to specified exceptions, and additional operating systems under support demonstrate customer commitment and continued engagement. This is indirect operating and contractual evidence, not a measured retention or renewal rate.","evidenceIds":["e2","e3","e5","e7"]},{"criterion":"margin_resilience","grade":2,"rationale":"Steel pass-through, specified profit arrangements and increased support gross profit with relatively flat support costs protect economics. Tariffs and the realized replacement liability demonstrate offsets. The passages do not provide a comprehensive margin history.","evidenceIds":["e6","e7","e8","e13","e17"]},{"criterion":"contractual_freedom","grade":2,"rationale":"Pass-through provisions protect selected input costs, but fixed fees, capped costs and specified profit amounts constrain repricing. Predominantly perpetual software licensing does not establish recurring license repricing rights; maintenance escalation rights are undisclosed.","evidenceIds":["e6","e8","e11","e37"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Historical funding sufficiency and the September 2025 cash balance provide positive context, but equity funding, cumulative losses, substantial purchase obligations and Exol funding commitments make the record mixed. Exol termination reimbursement is a contractual offset, not proof of recoverability or realized investment returns.","evidenceIds":["e19","e20","e21","e22","e23","e24"]},{"criterion":"incentive_alignment","grade":2,"rationale":"Actual fiscal 2025 grants combine RSUs and PSUs, with revenue and adjusted free cash flow performance metrics. Earned PSUs remain subject to future vesting. The adjusted cash metric is EBITDA less specified investment spending rather than actual operating cash flow. CEO compensation was zero, but ownership alignment is not established by that fact.","evidenceIds":["e25","e26","e27","e28","e29","e30"]},{"criterion":"execution","grade":2,"rationale":"The increase from 46 to 77 systems in deployment and additional operating systems under maintenance demonstrate delivery progress indirectly. The targeted recall and $34.3 million replacement liability are realized execution setbacks; management's description of strong execution is not accepted without these qualifications.","evidenceIds":["e7","e9","e12","e13","e17","e18"]},{"criterion":"governance","grade":2,"rationale":"The disclosed independent board majority and observed audit-service pre-approval compliance provide safeguards. The adverse internal control opinion, continuing material weakness and CEO relationship with a related-party customer materially qualify them. Remediation plans are not evidence of completed remediation, and voting-control coverage is incomplete.","evidenceIds":["e31","e32","e33","e34","e35","e36"]}]}],"qualityPolicy":"quality-scores-2","basisHash":"cd1df34c12db683f21fc831f9530c32843cabe7f1e2a67d8587376a2190d2f19","updatedAt":"2026-10-17T21:52:43.313Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1837240/000183724025000278/sym-20250927.htm","publishedAt":"2025-11-24","sha256":"2b99eb89aa95c958d37bc0cced167e7cbba8e5a6454b11353d4bf493dbe5e43e","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1837240/000183724026000043/sym-20260627.htm","publishedAt":"2026-08-05","sha256":"2ca49ee79b8d1aa7529fddd1973f4966ab4dd880fb5bc12d1cee21423880668c","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1837240/000119312526015381/sym-20260116.htm","publishedAt":"2026-01-16","sha256":"cf856bf77433a340eab79a6f84a6c429be6e912c7a94cb06a08518fa3c437a83","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:2a47082ab4bbbab0c46d59dccc1f5e07733e10362df6d3622aa8af59a5d6edb5","usage":{"input_tokens":51587,"cached_input_tokens":0,"cache_write_input_tokens":0,"output_tokens":4050,"reasoning_output_tokens":206},"basisSupplement":{"previousHash":"23f81afbfd1c5a8f2e7d09be15c40be4038d58e8edc4b48ed4161312b6493117","checkedAt":"2026-10-18T16:49:32.080Z","rule":"dated historical and missing inputs only; accepted observations and research date retained"}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":null,"operating_margin":null,"roic":null,"fcf_margin":null,"sbc_revenue":null},"issues":{"pe":"A validated closing price in the reporting currency is unavailable for this period.","peg":"A validated closing price in the reporting currency is unavailable for this period.","ps":"A validated closing price in the reporting currency is unavailable for this period.","pfcf":"A validated closing price in the reporting currency is unavailable for this period.","pfcf_growth":"A validated closing price in the reporting currency is unavailable for this period.","pocf":"A validated closing price in the reporting currency is unavailable for this period.","pb":"A validated closing price in the reporting currency is unavailable for this period.","fcf_yield":"A validated closing price in the reporting currency is unavailable for this period.","earnings_yield":"A validated closing price in the reporting currency is unavailable for this period.","ev_sales":"A validated closing price in the reporting currency is unavailable for this period.","ev_ebitda":"A validated closing price in the reporting currency is unavailable for this period.","capex":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc_ocf":"Operating cash flow is zero or negative, so this ratio is undefined.","eps":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","gross_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","operating_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","net_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","ebitda_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","ocf_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","capex_intensity":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc_revenue":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"The matching period one year earlier is unavailable.","roce":"The matching period one year earlier is unavailable.","roiic":"The matching period one year earlier is unavailable.","roe":"The matching period one year earlier is unavailable.","roa":"The matching period one year earlier is unavailable.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Equity is zero or negative, so this ratio is undefined.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","diluted_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","basic_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","dilution":"The matching period one year earlier is unavailable.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2022","end":"2022-09-24","values":{"gross_margin":16.79504206892832,"operating_margin":-23.659558545925247,"roic":null,"fcf_margin":-28.011737500674183,"sbc_revenue":4.526791974542905},"issues":{"pe":"Trailing earnings is zero or negative, so this ratio is undefined.","peg":"Two complete TTM earnings bases and their diluted share counts are required for year-over-year growth.","pfcf":"Trailing free cash flow is zero or negative, so this ratio is undefined.","pfcf_growth":"Two complete TTM FCF bases and their diluted share counts are required for year-over-year growth.","pocf":"Trailing operating cash flow is zero or negative, so this ratio is undefined.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","sbc_fcf":"Free cash flow before SBC deduction is zero or negative, so this ratio is undefined.","sbc_ocf":"Operating cash flow is zero or negative, so this ratio is undefined.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","debt_fcf":"Trailing free cash flow is zero or negative, so this ratio is undefined.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","dilution":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2023","end":"2023-09-30","values":{"gross_margin":16.122053784080258,"operating_margin":-18.967771866723425,"roic":null,"fcf_margin":18.277478543042644,"sbc_revenue":13.104612066877902},"issues":{"pe":"Trailing earnings is zero or negative, so this ratio is undefined.","peg":"Prior-year TTM earnings per diluted share is zero or negative; a growth-adjusted multiple is undefined.","pfcf_growth":"Prior-year TTM FCF per diluted share is zero or negative; a growth-adjusted multiple is undefined.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Equity is zero or negative, so this ratio is undefined.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2024","end":"2024-09-28","values":{"gross_margin":13.738333802152916,"operating_margin":-6.52759035868333,"roic":null,"fcf_margin":-5.60984107295746,"sbc_revenue":6.274987011926658},"issues":{"pe":"Trailing earnings is zero or negative, so this ratio is undefined.","peg":"Prior-year TTM earnings per diluted share is zero or negative; a growth-adjusted multiple is undefined.","pfcf":"Trailing free cash flow is zero or negative, so this ratio is undefined.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pocf":"Trailing operating cash flow is zero or negative, so this ratio is undefined.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","sbc_fcf":"Free cash flow before SBC deduction is zero or negative, so this ratio is undefined.","sbc_ocf":"Operating cash flow is zero or negative, so this ratio is undefined.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","debt_fcf":"Trailing free cash flow is zero or negative, so this ratio is undefined.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2025","end":"2025-09-27","values":{"gross_margin":18.808396553151375,"operating_margin":-5.118379721236429,"roic":null,"fcf_margin":null,"sbc_revenue":8.186131961857154},"issues":{"pe":"Trailing earnings is zero or negative, so this ratio is undefined.","peg":"Prior-year TTM earnings per diluted share is zero or negative; a growth-adjusted multiple is undefined.","pfcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","pfcf_growth":"Prior-year TTM FCF per diluted share is zero or negative; a growth-adjusted multiple is undefined.","fcf_yield":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","ev_sales":"Reported borrowing balances are unavailable in the extracted statements for this period.","ev_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","capex":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","capex_intensity":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Trailing EBITDA is zero or negative, so this ratio is undefined.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1837240/000183724025000278/sym-20250927.htm","publishedAt":"2025-11-24","sha256":"2b99eb89aa95c958d37bc0cced167e7cbba8e5a6454b11353d4bf493dbe5e43e","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1837240/000183724026000043/sym-20260627.htm","publishedAt":"2026-08-05","sha256":"2ca49ee79b8d1aa7529fddd1973f4966ab4dd880fb5bc12d1cee21423880668c","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1837240/000119312526015381/sym-20260116.htm","publishedAt":"2026-01-16","sha256":"cf856bf77433a340eab79a6f84a6c429be6e912c7a94cb06a08518fa3c437a83","dateKind":"filed"}],"history":[{"version":4,"updatedAt":"2026-10-18T16:49:32.080Z","verdict":"narrow","value":null},{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"narrow","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"narrow","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}