Related Party Transactions |
9 Months Ended |
|---|---|
Jun. 27, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions ASC Topic 850, Related Party Disclosures (“ASC Topic 850”) provides guidance for the identification of related parties and the disclosure of related party transactions. Related parties are generally defined as (i) affiliates of the Company; (ii) owners of more than 10% of the voting interests of the Company and members of their immediate families; (iii) management of the Company and members of their immediate families; (iv) other parties which directly or indirectly control, are controlled by, or are under common control with the Company; or (v) other parties who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company assesses related parties each reporting period. For the period ended June 27, 2026, the Company determined that C&S Wholesale Grocers, Inc. (“C&S”), Exol, and certain current holders of Symbotic Holdings were each a related party under ASC Topic 850. The following transactions were related party transactions under ASC Topic 850. Aircraft Time Sharing Agreement In December 2021 and May 2022, the Company entered into aircraft time-sharing agreements with C&S with respect to private aircraft owned by them, whereby the Company’s executives may utilize two C&S aircraft on an as-needed and as-available basis, with no minimum usage being required. As there is no defined period of time stated within these aircraft time-sharing agreements, the Company does not consider these to meet the definition of a lease, and as such, records payments in the period in which the obligation for the payment is incurred. For the three months ended June 27, 2026 and June 28, 2025, the Company incurred expense of $1.0 million and $0.3 million, respectively, related to these aircraft time-sharing agreements. For the nine months ended June 27, 2026 and June 28, 2025, the Company incurred expense of $1.7 million and $1.1 million, respectively, related to these aircraft time-sharing agreements. Usage of Facility and Employee Services The Company has a license arrangement with C&S whereby C&S is providing receiving and logistics services for the Company within a C&S distribution facility. The arrangement also provides for C&S employees assisting with certain of the Company’s operations. For the three months ended June 27, 2026 and June 28, 2025, the Company incurred expense of $0.4 million and $0.3 million, respectively, related to this arrangement. For the nine months ended June 27, 2026 and June 28, 2025, the Company incurred expense of $1.2 million and $1.0 million, respectively, related to this arrangement. Operating Lease Agreements In fiscal year 2025, the Company entered into lease agreements with C&S for the lease of warehouse space in Plant City, FL and Coppell, TX. The Company’s estimated lease term for these lease agreements is for 2 years. Combined, the Company recognized $0.6 million and less than $0.1 million in rent expense for the three months ended June 27, 2026 and June 28, 2025, respectively. Combined, the Company recognized $1.8 million and $0.1 million in rent expense for the nine months ended June 27, 2026 and June 28, 2025, respectively. Customer Contracts The Company has customer contracts with C&S relating to System implementations, software maintenance services and the operations of Systems. For the three months ended June 27, 2026 and June 28, 2025, revenue of $2.4 million and $4.8 million was recognized, respectively, relating to these customer contracts. For the nine months ended June 27, 2026 and June 28, 2025, revenue of $6.4 million and $10.0 million was recognized, respectively, relating to these customer contracts. There was $2.4 million unbilled accounts receivable and accounts receivable due from C&S at June 27, 2026 and September 27, 2025. There was $1.3 million and $0.5 million of deferred revenue related to contracts with C&S at June 27, 2026 and September 27, 2025, respectively. Exol The Company has a customer contract relating to System implementations and shared services with Exol. For the three months ended June 27, 2026 and June 28, 2025, revenue of $41.1 million and $26.4 million was recognized, respectively, relating to this customer contract. For the nine months ended June 27, 2026 and June 28, 2025, revenue of $130.6 million and $34.0 million was recognized, respectively, relating to this customer contract. There was $31.3 million and $0.6 million unbilled accounts receivable and accounts receivable due from the customer contract at June 27, 2026, and September 27, 2025, respectively. There was $3.4 million and $13.1 million accounts receivable due from the Exol Service Agreement (defined below) at June 27, 2026 and September 27, 2025, respectively. There was $122.8 million and $142.7 million of deferred revenue related to contracts with Exol at June 27, 2026 and September 27, 2025, respectively. The transaction price allocated to performance obligations that are unsatisfied as of June 27, 2026 was $11.6 billion. Cash funding of $23.4 million and $24.4 million was made by the Company to Exol in relation to the VIE (as further described in Note 16, Variable Interest Entities) for the three months ended June 27, 2026 and June 28, 2025, respectively. Cash funding of $73.2 million and $31.1 million was made by the Company to Exol in relation to the VIE for the nine months ended June 27, 2026 and June 28, 2025, respectively. Non-cash funding in the form of a stock contribution of $4.2 million and $6.9 million was made by the Company to Exol for the three and nine months ended June 28, 2025. No non-cash funding was made for the three and nine months ended June 27, 2026. Tax Distributions to Symbotic Holdings LLC Partners Pursuant to the Second Amended and Restated Limited Liability Company Agreement of Symbotic Holdings, Symbotic LLC makes pro rata tax distributions to the holders of Symbotic Holdings’ units in an amount sufficient to fund all or part of their tax obligations with respect to the taxable income of Symbotic Holdings that is allocated to them. There were no material tax distributions made by the Company to or on behalf of its members for the three months ended June 27, 2026 or June 28, 2025. For the nine months ended June 27, 2026 and June 28, 2025, there were $1.2 million of tax distributions made by the Company to or on behalf of its members, of which $1.2 million and $1.1 million was distributed to or on behalf of those who met the definition of a related party in accordance with ASC Topic 850, respectively.
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