Revenue Performance - Total revenue for the nine months ended September 30, 2023, was $583.0 million, a decline of 29.4% from $825.5 million for the same period in 2022[91]. - Domestic revenue decreased by $150.9 million, or 34.3%, while international revenue declined by $91.6 million, or 23.7%[91]. - Total revenue for the three months ended September 30, 2023, was $186,176 thousand, a decrease from $278,191 thousand in the same period last year, representing a decline of 33.1%[95]. - Revenue for the three months ended September 30, 2023 decreased by $92.0 million to $186.2 million, a decline of 33.1% compared to $278.2 million for the same period in 2022[102]. - Domestic revenue for the three months ended September 30, 2023 decreased by $61.3 million, or 41.7%, while international revenue decreased by $30.7 million, or 23.4%[103]. Profitability and Loss - Gross profit for the three months ended September 30, 2023, was $48.0 million, with a gross margin of 25.8%[94]. - Operating loss for the nine months ended September 30, 2023, was $(211.8) million, with an operating margin of (36.3)%[94]. - Non-GAAP gross profit for the three months ended September 30, 2023, was $49,414 thousand, down from $78,322 thousand year-over-year, reflecting a decrease of 36.9%[95]. - Non-GAAP operating loss for the three months ended September 30, 2023, was $(40,649) thousand, compared to $(34,520) thousand in the same period last year, indicating a worsening of 17.8%[98]. - GAAP net loss for the three months ended September 30, 2023, was $(79,205) thousand, compared to $(128,366) thousand in the same period last year, showing an improvement of 38.3%[98]. - Non-GAAP net loss per diluted share for the three months ended September 30, 2023, was $(2.82), compared to $(1.78) in the same period last year, indicating a decline of 58.4%[98]. - Operating loss for the three months ended September 30, 2023 was $(32.0) million, compared to $(24.6) million in the same period in 2022[104]. - Net loss for the three months ended September 30, 2023 was $(42.5) million, or (42.5)%, compared to $(46.1) million, or (46.1)%, in the same period in 2022[104]. Expenses and Cost Management - Research and development expenses decreased by $4.2 million, or 10.1%, to $37.2 million in the three months ended September 30, 2023[107]. - Selling and marketing expenses decreased by $18.5 million, or 30.7%, to $41.7 million in the three months ended September 30, 2023[108]. - General and administrative expenses decreased by $3.2 million, or 10.0%, to $28.4 million for the three months ended September 30, 2023, compared to $31.5 million for the same period in 2022[109]. - General and administrative expenses increased by $5.7 million, or 6.7%, to $90.2 million for the nine months ended September 30, 2023, compared to $84.6 million for the same period in 2022[109]. - Operating expenses were reduced by $70.5 million for the nine months ended September 30, 2023, compared to the same period last year[120]. Cash Flow and Financing - Cash and cash equivalents were $189.6 million as of September 30, 2023, with working capital of $231.5 million, a slight decrease from $232.1 million as of December 31, 2022[113]. - Net cash used in operating activities for the nine months ended September 30, 2023, was $113.6 million, primarily due to a net loss of $241.1 million[115]. - Net cash used in investing activities for the nine months ended September 30, 2023, was $3.3 million, mainly for the purchase of machinery and tooling for new products[116]. - Net cash provided by financing activities for the nine months ended September 30, 2023, was $186.2 million, primarily from proceeds of the Term Loan[116]. - The company entered into a $200.0 million senior secured term loan credit facility on July 24, 2023, with total proceeds of $188.2 million net of debt issuance costs[117]. Inventory and Orders - Inventory balance as of September 30, 2023, was $244.5 million, a reduction of $40.7 million from the end of fiscal 2022[91]. - Outstanding purchase orders as of September 30, 2023, totaled approximately $205.5 million, including $102.5 million related to inventory purchases[121]. Workforce and Restructuring - The company reduced its workforce by approximately 246 employees since the end of fiscal 2021, representing a total reduction of 18%[91]. - The company reduced its workforce by approximately 246 employees since the end of fiscal 2021, representing a total reduction of 8% and 7% of the workforce in two restructuring initiatives[120]. Product Development - New product introductions in September 2023 included the Roomba Combo i5+, j5+, and j9+, enhancing the product lineup[89]. Market Conditions and Future Outlook - The company anticipates that product availability issues will continue to impact revenue performance, with some orders shifted to the fourth quarter of 2023[103]. - The company plans to continue evaluating its critical accounting policies and estimates, particularly regarding the fair value of the Term Loan, which may significantly impact future valuations[99].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________ FORM 10-Q ______________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED July 1, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-36414 _________________________________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________ FORM 10-Q ______________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED April 1, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-36414 ________________________________________ ...

Revenue Performance - Total revenue for fiscal 2022 was $1,183.4 million, a decline of 24.4% from $1,565.0 million in fiscal 2021[78] - Domestic revenue decreased by $139.1 million, or 18.4%, while international revenue declined by $242.5 million, or 29.9%[79] - Revenue for fiscal 2022 decreased 24.4% to $1,183.4 million from $1,565.0 million in fiscal 2021, primarily due to a 25.3% decrease in total robots shipped and macroeconomic trends affecting consumer spending[98] - The company experienced a revenue decline of 24% in fiscal 2022 compared to fiscal 2021, primarily due to lower orders from retailers and distributors in the U.S. and EMEA[125] Profitability and Margins - Gross profit for fiscal 2022 was $350.1 million, down from $550.3 million in fiscal 2021[83] - Non-GAAP gross margin for fiscal 2022 was 29.4%, compared to 35.3% in fiscal 2021[84] - GAAP gross profit for the same period was $350,093 thousand, resulting in a gross margin of 29.4%, down from 35.3% the previous year[94] - Gross profit decreased by $200.2 million, or 36.4%, to $350.1 million in fiscal 2022, with a gross margin of 29.6%, down from 35.1% in fiscal 2021[103] - The gross margin decreased by 5.5 percentage points in fiscal 2022, largely due to pricing changes and higher promotional activity[103] Operating Loss and Expenses - Non-GAAP operating loss for fiscal 2022 was $(240.4) million, compared to $(1.1) million in fiscal 2021[83] - Total operating expenses increased to $590,476 thousand, up from $551,399 thousand in the prior year, driven by higher research and development costs[94] - Operating loss increased to (20.3)% of revenue in fiscal 2022, compared to (0.1)% in fiscal 2021, indicating a significant deterioration in operational performance[98] - Total operating expenses rose to 49.9% of revenue in fiscal 2022, up from 35.2% in fiscal 2021, driven by increased research and development and marketing expenses[98] Research and Development - Research and development expenses increased to 14.1% of revenue in fiscal 2022, up from 10.3% in fiscal 2021, reflecting ongoing investment in software and hardware development[98] - Research and development expenses increased by $5.2 million, or 3.2%, to $166.5 million, representing 14.1% of revenue in fiscal 2022[106] - Research and development expenses in fiscal 2021 were $161.3 million, which was 10.3% of revenue[106] Workforce and Restructuring - The company reduced its workforce by approximately 185 employees, representing about 15% of its workforce, as part of restructuring efforts[125] - The company has reduced its workforce by 203 employees since the end of fiscal 2021 and anticipates net cost savings of approximately $42.0 million in 2023 from restructuring actions[126] Cash Flow and Liquidity - As of December 31, 2022, the company reported cash and cash equivalents of $117.9 million, down from $234.5 million as of January 1, 2022, reflecting a decline of 50%[125] - The company has a $150.0 million secured revolving line of credit, with no outstanding borrowings as of December 31, 2022[123] - The company is managing liquidity by reducing discretionary spending and optimizing production volumes with contract manufacturers[126] Future Outlook - Future outlook includes a focus on enhancing product offerings and expanding market presence through strategic initiatives[88] - The company anticipates a slight increase in research and development expenses in absolute dollars and as a percentage of revenue for fiscal 2023[105] - Selling and marketing expenses are expected to decrease in fiscal 2023 due to planned reductions in working media and headcount[107] Merger and Acquisition - The merger agreement with Amazon will result in each share of common stock being converted into $61.00 in cash[80] - The company entered into a Merger Agreement with Amazon for the acquisition of iRobot, with various operational covenants in place[118] Inventory and Purchase Orders - As of December 31, 2022, the inventory balance was $285.3 million, a reduction of $133.8 million from the third quarter of fiscal 2022, equating to 95 days of inventory[126] - The company has outstanding purchase orders totaling approximately $151.5 million, with $18.5 million being non-cancellable without penalty, a decrease of $23.4 million from the prior year[128]

iRobot Corp (NASDAQ:IRBT) Q1 2022 Earnings Conference Call May 5, 2022 8:00 AM ET Company Participants Andrew Kramer - VP, IR Colin Angle - Founder, Chairman & CEO Julie Zeiler - EVP & CFO Conference Call Participants Michael Latimore - Northland Capital Markets James Ricchiuti - Needham & Company Paul Chung - JPMorgan Chase & Co. Asiya Merchant - Citigroup John Babcock - Bank of America Merrill Lynch Operator Good day, and thank you for standing by. Welcome to iRobot's First Quarter 2022 Financial Results ...

iRobot Corporation (NASDAQ:IRBT) Q4 2021 Earnings Conference Call February 10, 2022 8:30 AM ET Company Participants Andrew Kramer - Vice President of Investor Relations Colin Angle - Chairman & Chief Executive Officer Julie Zeiler - Executive Vice President & Chief Financial Officer Conference Call Participants Asiya Merchant - Citi John Babcock - Bank of America Chris Grenga - Needham & Company Ben Rose - Battle Road Research Operator Good day, and thank you for standing by. Welcome to the Q4 and Full Year ...