iRobot Corporation (IRBT) shares rallied 24.7% in the last trading session to close at $9.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.5% loss over the past four weeks.iRobot’s rally is largely driven by optimism over investments in higher-value robotics, machine learning and complex mechanical design. Solid product offerings, innovation capabilities and operational initiatives bode well for the comp ...

BEDFORD, Mass., Dec. 3, 2024 /PRNewswire/ -- iRobot Corporation (NASDAQ: IRBT), a leader in consumer robots, today announced that the company's management team will present at the following investor conferences:Raymond James TMT and Consumer ConferenceDate: Monday, December 9, 2024Location: New York, NYPresentation: 3:00 p.m. ETICR Conference 2025Date: Monday, January 13, 2025Location: Orlando, FLPresentation: 2:30 p.m. ET27th Annual Needham Growth ConferenceDate: Wednesday, January 15, 2025Location: New Yo ...

iRobot Corporation (IRBT) reported third-quarter 2024 adjusted loss of 3 cents per share, narrower than the Zacks Consensus Estimate of a loss of 5 cents per share. The reported figure compares favorably with the year-ago quarter’s net loss of $2.82 per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.IRBT’s Revenue DetailsiRobot generated revenues of $193.4 million, which missed the Zacks Consensus Estimate of $218 million. On a year-over-year basis, revenues increased 3.9% du ...

iRobot Corporation (NASDAQ: IRBT ) reported Q3 results that showed decent improvement in margins y/y, but market participants ignored all the good because the company lowered its guidance substantially. This led to a 35% decline in share price. I wanted to delve deeperMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more tha ...

In Brief Roomba maker iRobot is laying off 105 employees — about 16% of the company’s workforce, — according a U.S. Securities and Exchange Commission filing. The company says the cuts are part of an “operational restructuring plan.” Since the start of 2024, the company has reduced its global workforce by approximately 50%.The latest cuts come after iRobot slashed roughly 350 jobs — about 31% of its workforce — earlier this year. The cuts were made after plans for an Amazon acquisition fell through. Amazo ...

Financial Data and Key Metrics - Q3 2024 revenue totaled $193.4 million, up from $186.2 million in Q3 2023, driven by the timing of certain large orders [23] - Gross margin expanded by 590 basis points year-over-year to 32.4% in Q3 2024, compared to 26.5% in Q3 2023 [9][26] - Operating expenses decreased by 47% year-over-year to $47.7 million in Q3 2024, including a one-time benefit of $13.5 million from an IP litigation settlement [27][28] - Operating income improved to $15.1 million in Q3 2024, compared to an operating loss of $40.6 million in Q3 2023 [31] - Net income per share was $0.03 in Q3 2024, compared to a net loss per share of $2.82 in Q3 2023 [32] Business Line Data and Key Metrics - Two-in-one products represented 57% of total robot sales in Q3 2024 [25] - Mid-tier and premium robots (MSRP $300+) accounted for 79% of total robot sales in Q3 2024, slightly down from 80% in Q3 2023 [25] - Direct-to-consumer (D2C) sales decreased by 1% year-over-year, representing 19% of total revenue in Q3 2024 [25] Market Data and Key Metrics - Revenue increased by 23% in the US, declined by 20% in Japan, and declined by 11% in EMEA in Q3 2024 [24] - Japan's revenue decline was partly due to the weak yen, with a 15% decline excluding foreign currency impact [24] - EMEA is already seeing a return to growth, while the US is expected to return to growth in 2025 [17] Company Strategy and Industry Competition - The company is executing its iRobot Elevate strategy, focusing on operational and organizational changes, new product launches, and gross margin expansion [7][8][15] - iRobot Labs was established to accelerate innovation and reduce time-to-market, leveraging global engineering talent and partnerships [11] - The company has reduced its global workforce by approximately 50% since the start of 2024 to improve efficiency and reduce costs [12] - New product launches, such as the Roomba Combo 2 Essential and Roomba Vac 2 Essential, are expected to drive revenue growth and margin improvement in 2025 [13][14] Management Commentary on Operating Environment and Future Outlook - The company expects a challenging macroeconomic environment to persist through the holiday season, leading to a reset of full-year guidance [10][35] - Full-year 2024 revenue is expected to be in the range of $685 million to $710 million, with gross margin between 25% and 26% [36] - The company anticipates returning to year-over-year organic top-line growth in 2025, driven by new product launches and a revitalized product lineup [39] - Gross margin expansion and improved cash flow from operations are expected to continue in 2025 [17] Other Important Information - The company announced executive leadership changes, with CFO Julie Zeiler and CHRO Russ Campanello retiring, and Karian Wong and Jules Connelly stepping into their roles [18][19] - The company plans to participate in investor conferences, including the Raymond James TMT and Consumer Conference and the Needham Growth Conference [40] Q&A Session Summary Question: Gross Margin Expectations for 2025 - The company expects to launch new products with a stronger margin profile in 2025 but has not provided explicit guidance yet [45] Question: Growth Expectations for 2025 - The company anticipates year-over-year top-line growth for full-year 2025, with stronger performance in the second half as the product lineup ramps up [46] Question: Market Forecast for 2025 - Growth in 2025 is expected to be driven by premium multifunctional products in EMEA and the US, as well as a recovery in the US market after pandemic-related declines [47][48] Question: Essentials Line Impact on Gross Margins - The essentials line is expected to contribute to gross margin improvements, with newer products offering enhanced features and functions [51] Question: Customer Conversations Post-Amazon Process - The company has positive relationships with retailers and is working to secure permanent and expanded retail distribution, with upcoming line reviews determining future placements [52]

IRobot (IRBT) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.05 per share. This compares to loss of $2.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 160%. A quarter ago, it was expected that this robotics technology company would post a loss of $1.77 per share when it actually produced a loss of $1.96, delivering a surprise of -10.73%.Over the last four quarters, ...

EX-99.1 Contacts: Karian Wong Charlie Vaida Investor Relations Media Relations iRobot Corp. iRobot Corp. (781) 430-3003 (781) 430-3182 investorrelations@irobot.com cvaida@irobot.com iRobot Reports Third-Quarter 2024 Financial Results Continues to Make Progress on "iRobot Elevate" Strategy Revises Full-year 2024 Outlook BEDFORD, Mass., November 6, 2024 - iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the third quarter ended September 28, 2024. "We continue ...

BEDFORD, Mass., Nov. 6, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that Julie Zeiler, the company's chief financial officer, and Russ Campanello, the company's chief human resources officer, will retire, effective December 2, 2024. Karian Wong, iRobot's senior vice president and principal accounting officer, will succeed Ms. Zeiler as chief financial officer, and Jules Connelly, the company's former senior director of human resources, will succeed Mr. Camp ...

Continues to Make Progress on "iRobot Elevate" StrategyRevises Full-year 2024 OutlookBEDFORD, Mass., Nov. 6, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the third quarter ended September 28, 2024."We continue to make progress on our turnaround strategy," said Gary Cohen, iRobot's CEO. "In the third quarter, we expanded our non-GAAP gross margin by 590 basis points year over year and improved our use of operating cash. However, our ...