Warehouse automation firm Symbotic has acquired autonomous forklift developer Fox Robotics, increasing its attain into dock automation and broadening its potential buyer base.
The acquisition was disclosed throughout Symbotic’s fiscal first-quarter 2026 earnings name. Monetary phrases of the deal weren’t disclosed.
Fox Robotics makes a speciality of autonomous forklift vehicles used to maneuver pallets between warehouses and loading docks. Based on Symbotic, the corporate has about 25 prospects, a few of whom should not at present Symbotic shoppers.
Rick Cohen, CEO of Symbotic, stated the acquisition aligns with the corporate’s technique of coordinating a number of robotic programs throughout the provision chain.
“We not too long ago closed the acquisition of Fox Robotics, a frontrunner in autonomous forklift options,” stated Cohen. “This acquisition additional enhances our technique of using our software program to orchestrate robots that transfer items by means of the provision chain from the dock door on the warehouse to the person buyer order from the shop.”
Increasing automation past warehouse programs
Symbotic is finest identified for its large-scale warehouse automation platforms, which use fleets of autonomous robots to maneuver and kind stock in distribution facilities.
By buying Fox Robotics, the corporate is aiming to increase automation into one other space of logistics – the loading dock – the place forklifts stay extensively used.
Cohen described the dock as a doubtlessly giant marketplace for automation.
“What we preferred about Fox is that they’ve 25 completely different prospects. A variety of these prospects should not Symbotic prospects at the moment,” he stated. “It offers us a chance to enter a brand new buyer base.”
He added that autonomous forklifts could possibly be bought independently of Symbotic’s full warehouse automation programs.
“We predict it is a market the place we might promote folks dock automation separate from even warehouse automation,” Cohen stated. “So we expect it is a very large market.”
Trade analysts have additionally instructed that the acquisition might permit Symbotic to broaden its portfolio into smaller logistics initiatives.
Based on Reuben Scriven, analysis supervisor at Work together Evaluation, the transfer allows Symbotic to broaden its providing.
He stated the acquisition “expands its automation footprint throughout the distribution heart’s 4 partitions” and will make automation accessible to prospects that will not require – or be capable to afford – a full warehouse automation system.
Sturdy monetary outcomes
The acquisition announcement got here alongside robust quarterly outcomes from Symbotic.
The corporate reported income of $630 million, representing a 29 % improve 12 months over 12 months, pushed by expanded system deployments and growth work associated to new automation options.
Symbotic additionally reported GAAP internet revenue of $13 million, in contrast with a internet lack of $17 million in the identical quarter a 12 months earlier, marking the corporate’s first interval of GAAP profitability.
Adjusted EBITDA reached $67 million, greater than tripling from $18 million within the prior-year quarter.
The corporate stated its rising put in base can also be contributing to increased recurring income streams. Software program income elevated 97 % 12 months over 12 months to $10.9 million, whereas operational companies income rose 68 % to $28.8 million.
Symbotic now has 57 programs in deployment, with three programs transitioning from deployment to operational standing through the quarter.
Rising scale of robotic operations
Cohen highlighted the dimensions of the corporate’s robotic programs through the name, noting that Symbotic’s robots processed greater than 2 billion instances in 2025.
The robots additionally logged almost 200 million miles through the 12 months.
“As finest we will inform, this can be essentially the most traveled totally autonomous automobile fleet on the earth,” Cohen stated.
Walmart stays key buyer
Symbotic’s largest buyer is retail large Walmart, which has labored carefully with the corporate on warehouse automation and e-commerce achievement programs.
Symbotic stated growth work with Walmart continues to advance, together with new automated programs designed for accelerated on-line pickup and supply facilities.
The corporate’s present backlog stands at $22.3 billion, reflecting long-term contracts for system deployments.
Automation technique broadens
The Fox Robotics acquisition displays Symbotic’s broader technique of increasing its expertise platform to deal with extra facets of logistics operations.
Cohen stated the corporate is continuous to develop new robotic programs and should pursue extra acquisitions to handle different components of the warehouse workflow.
“We have a look at ourselves actually as an answer supplier,” he stated. “Lots of the automation folks have a look at themselves as {hardware} suppliers.”
He added that Symbotic plans to maintain investing closely in analysis and growth whereas exploring new applied sciences and partnerships.
