Symbotic has acquired autonomous forklift developer Fox Robotics in a transfer that broadens its logistics robotics choices. Monetary particulars concerning the acquisition weren’t disclosed. Symbotic introduced the deal throughout its Q1 2026 earnings name.
Symbotic founder and CEO Rick Cohen stated the Fox Robotics acquisition provides Symbotic entry to a broader market in autonomous materials dealing with and the likelihood to introduce new options even past present warehouse automation.
Fox Robotics was based in 2017 in Austin, Texas. The variety of prospects it has is unclear. By itself web site, Fox Robotics says it “presently has 100+ FoxBot autonomous forklifts put in at 54 buyer websites throughout the U.S. and Canada.” In the course of the Symbotic earnings name, nevertheless, Cohen stated Fox Robotics has 25 prospects and “principally what they’re doing is pilots.”
Cohen stated most of Fox Robotics’ prospects should not Symbotic prospects. However it seems the 2 corporations share one massive buyer: Walmart. In the course of the earnings name, Cohen stated Fox Robotics is promoting to Symbotic’s largest buyer. That buyer is Walmart.
“The attention-grabbing factor with Fox [Robotics] is our massive buyer has 1000’s of fork vans. However there are many different prospects. The CPG producers, their amenities, the place they really don’t do as a lot guide choice, however they nonetheless transfer pallets from the warehouse to the vans. They unload items to their warehouses.
“So what I’m enthusiastic about is that we’re searching for extra alternatives to work together with prospects and acquisitions is a pleasant option to do it to introduce them as we speak to the availability chain folks and we make these robots extra profitable, they construct credibility and belief in Symbotic as an answer supplier. A few of [Fox Robotics’] greatest prospects should not Symbotic prospects. Now. Hope they are going to be sooner or later,” Cohen stated through the earnings name.
Walmart has lengthy been Symbotic’s largest buyer. Some estimates have Walmart accounting for almost 90% of Symbotic’s income as of early 2026. Symbotic in 2025 acquired Walmart Superior Techniques & Robotics, which initially was Alert Innovation. Walmart acquired Alert Innovation in 2022 to develop in-store automation for e-grocery achievement, however Walmart bought this enterprise to Symbotic in January 2025 to concentrate on broader functions.
Fox Robotics’ FoxBot autonomous forklift. | Credit score: Fox Robotics
Walmart introduced in 2024 that, after a 16-month pilot, it rolled out 19 autonomous forklifts throughout 4 high-tech distribution facilities.
“Some M&A might be a approach of buying prospects and getting far more interplay with the purchasers,” Cohen stated through the earnings name. “Within the Fox acquisition, we will promote guided fork vans to much more folks than we will promote a Symbotic system to. I imply, we may promote two guided fork vans to Joe’s, , pizza warehouse.
“However there’s folks like DHL and different folks which can be very focused on area that they’re working exams on, quite a lot of the large CPG corporations. So, we’re these form of acquisitions. So, we checked out Fox and stated, this can be a very, very massive potential buyer base. Smaller gross sales per transaction however starting to indicate prospects how they’ll take into consideration reorienting their warehouse.”
Symbotic reported first quarter income of $630 million, up 29% year-over-year, and internet earnings of $13 million, in contrast with a internet lack of $17 million within the first quarter of fiscal yr 2025. The corporate stated adjusted EBITDA reached $67 million, up from $18 million within the first quarter of fiscal yr 2025.
Money and money equivalents totaled $1.8 billion on the finish of the primary quarter of fiscal yr 2026, reflecting a $574 million enhance from the prior quarter, which incorporates $424 million of internet proceeds from a follow-on providing.
“We’re off to a powerful begin this fiscal yr,” stated Cohen. “Our operational execution and product innovation are yielding tangible financial advantages for each our prospects and us.”
