Income Taxes (Tables)

12 Months Ended

Sep. 28, 2024

Income Tax Disclosure [Abstract]

Schedule Components of Income/(Loss) Before Provision for Income Taxes

The components of income/(loss) before provision for income taxes are as follows (in thousands):

	Year Ended
	September 28, 2024		September 30, 2023		September 24, 2022
Income/(Loss) before income tax expense:
U.S.	$	(81,301)	$	(216,891)	$	(144,119)
Foreign	841		4,377		5,030
Total	$	(80,460)	$	(212,514)	$	(139,089)

Schedule of Provision for Income Taxes

The provision (benefit) for income taxes consists of the following for each of the periods presented (in thousands):

	Year Ended
	September 28, 2024		September 30, 2023
Current:
Federal	$	—	$	—
State	244		307
International	51		(13)
Total current taxes	$	295	$	294
Deferred:
Federal	$	—	$	—
State	—		—
International	3,917		(4,914)
Total deferred taxes	$	3,917	$	(4,914)
Provision (benefit) for Income Taxes	$	4,212	$	(4,620)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the expected U.S. Federal income tax rate to the effective tax rate for the years ended September 28, 2024, September 30, 2023, and September 24, 2022 (dollars in thousands):

	September 28, 2024				September 30, 2023				September 24, 2022
Loss before income tax	$	(80,460)			$	(212,514)			$	(139,089)
Tax on pre-tax loss	(16,860)		21	%	(44,628)		21	%	(29,209)		21	%
Loss not subject to tax	14,175		(18)	%	39,497		(19)	%	27,767		(20)	%
State income tax rate	(2,051)		3	%	(3,363)		2	%	(744)		1	%
Permanent differences	769		(1)	%	992		—	%	46		—	%
Adjustment for foreign income tax rate differential	45		—	%	241		—	%	1,346		(1)	%
Credits	(2,763)		3	%	(1,218)		1	%	(374)		—	%
Valuation allowance	(5,341)		7	%	3,187		(1)	%	1,168		(1)	%
Impact on foreign activity	(398)		—	%	575		—	%	—		—	%
Return to provision	5		—	%	88		—	%	—		—	%
Adjustment for rate changes	16,620		(21)	%	—		—	%	—		—	%
Other	11		—	%	9		—	%	—		—	%
Total income tax	$	4,212	(5)	%	$	(4,620)	2	%	$	—	—	%

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of the Company’s net deferred tax assets as of September 28, 2024 and September 30, 2023 (in thousands):

	Year Ended
	September 28, 2024		September 30, 2023
Deferred tax assets:
Net operating losses	$	49,735	$	21,703
Investment in Symbotic Holdings, LLC	600,917		439,547
Tax Receivable Agreement	32,065		24,574
Other	264		409
Credits	9,269		7,184
Total deferred tax assets before valuation allowance	692,250		493,417
Valuation allowance	(690,231)		(486,920)
Total deferred tax assets after valuation allowance	2,019		6,497
Deferred tax liabilities:
Foregone FTC	(178)		(575)
ROU asset	(125)		(286)
Foreign R&D credit recapture	(722)		(718)
Total deferred tax liabilities	(1,025)		(1,579)
Net deferred tax asset	$	994	$	4,918

Schedule of Valuation Allowance

Activity related to the valuation allowance for the periods presented was as follows (in thousands):

	For the year ended
	September 28, 2024		September 30, 2023		September 24, 2022
Beginning balance	$	486,920	$	168,308	$	12,608
Recorded to additional paid-in capital	208,629		315,425		152,985
Recorded to other comprehensive income	—		—		—
Recorded to income tax expense	(5,318)		3,187		2,715
Ending balance	$	690,231	$	486,920	$	168,308