iRobot Corporation (IRBT) has failed to impress investors with its recent operational performance due to decreased demand for products. Also, given the company’s extensive international presence, foreign currency headwind is an added uncertainty.Headquartered in Bedford, MA, iRobot designs and manufactures robots for home cleaning, most notably the Roomba vacuum cleaner. It also produces devices for mopping, such as the Braava. The products are primarily sold via several distribution channels, which include ...

Robotics continues to pique investors’ interest, and even more so as we enter a new age of artificial intelligence technologies. Automation has been a significant catalyst for the space. Whether we’re talking about manufacturing, logistics, surgical procedures, or everyday household tasks, robotics has helped to drive efficiencies and make life easier.From an investor’s point of view, exposure to public companies that work in robotic automation just makes sense from an economic perspective, particularly whe ...

BEDFORD, Mass., Aug. 12, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, announced the addition of Michael J. Loparco to its board of directors. Mr. Loparco brings to the board extensive public company and global technology leadership experience in areas including consumer product and smart home innovation, manufacturing, global supply chain, mergers and acquisitions, design, enterprise IT, retail and robotics.iRobot announced the addition of Michael J. Loparco to its board of ...

BEDFORD, Mass., Aug. 12, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, will participate in the 13th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech 1x1 Conference on Monday, August 19. The company's management team, including iRobot Chief Executive Officer Gary Cohen and Chief Financial Officer Julie Zeiler, will be available for one-on-one virtual meetings with investors. For more information, please contact iRobot's investor relations team via [email protect ...

iRobot Corporation (IRBT) reported second-quarter 2024 adjusted loss of $1.96 per share, wider than the Zacks Consensus Estimate of a loss of $1.77 per share. The reported figure compares unfavorably with the year-ago quarter’s net loss of $1.42 per share.Revenue DetailsiRobot generated revenues of $166.4 million, which missed the Zacks Consensus Estimate of $168 million. On a year-over-year basis, revenues decreased 29.7% due to lower sales across all product categories.Sales derived from premium and mid-t ...

iRobot Corporation (NASDAQ:IRBT) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants David Calusdian - IR, Sharon Merrill Advisors Gary Cohen - CEO Julie Zeiler - EVP & CFO Conference Call Participants Mike Latimore - Northland Capital Markets Operator Welcome to the iRobot Second Quarter 2024 Financial Results Conference Call. At this time, all participants have been placed in a listen-only mode. A question-and-answer session will follow the company's prepared remarks. [Operator ...

R Q2 2024 Financial Results August 7, 2024 Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which relate to, among other things: the Company's expectations regarding future financial performance, including with respect to third quarter and fiscal year 2024 revenue, gross margin, operating loss ...

IRobot (IRBT) came out with a quarterly loss of $1.96 per share versus the Zacks Consensus Estimate of a loss of $1.77. This compares to loss of $1.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.73%. A quarter ago, it was expected that this robotics technology company would post a loss of $2.03 per share when it actually produced a loss of $1.53, delivering a surprise of 24.63%.Over the last four quarters, the company ...

Revenue and Sales Performance - Q2 2024 revenue declined to $166.4 million, a 29.7% decrease compared to Q2 2023 revenue of $236.6 million[5] - Revenue for the three months ended June 29, 2024 was $166.361 million, a decrease from $236.568 million in the same period in 2023[21] - Total revenue for the three months ended June 29, 2024, was $166.361 million, a decrease from $236.568 million in the same period last year[27] - Domestic revenue for the three months ended June 29, 2024, was $84.364 million, compared to $130.958 million in the prior year period[27] - International revenue for the three months ended June 29, 2024, was $81.997 million, down from $105.610 million in the same period last year[27] - Revenue from mid-tier and premium robots represented 76% of total robot sales in Q2 2024, down from 84% in the same period last year[8] - Total robot units shipped for the three months ended June 29, 2024, were 574,000, a decrease from 831,000 in the prior year period[27] - Average gross selling price for robot units for the three months ended June 29, 2024, was $330, compared to $347 in the same period last year[27] Gross Margin and Profitability - GAAP gross margin for Q2 2024 was 16.5%, down from 22.6% in Q2 2023, impacted by an $18.4 million non-recurring charge related to inventory write-offs[5][6] - GAAP gross margin for the three months ended June 29, 2024, was 16.5%, compared to 22.6% in the same period last year[34] - Non-GAAP gross margin for the three months ended June 29, 2024, was 16.7%, down from 23.2% in the prior year period[34] - GAAP Gross Profit guidance for Q3-24 is $72 - $76 million, with a Gross Margin of 33% - 34%[39] - Non-GAAP Gross Profit guidance for Q3-24 is $72 - $76 million, with a Gross Margin of 33% - 34%[39] Operating Expenses and Losses - GAAP operating loss for the three months ended June 29, 2024, was $61.068 million, compared to $71.056 million in the same period last year[34] - Non-GAAP operating loss for the three months ended June 29, 2024, was $48.203 million, an improvement from $50.485 million in the prior year period[34] - GAAP Operating Expenses for FY-24 are projected to be $267 - $271 million[39] - Non-GAAP Operating Expenses for FY-24 are projected to be $291 - $295 million[39] - Research and development expenses for the six months ended June 29, 2024 were $57.108 million, compared to $79.240 million in the same period in 2023[21] - Selling and marketing expenses for the six months ended June 29, 2024 were $69.696 million, compared to $98.072 million in the same period in 2023[21] Net Loss and Cash Flow - Net loss for the six months ended June 29, 2024 was $62.039 million, compared to a net loss of $161.912 million in the same period in 2023[21] - GAAP Net Loss for the six months ended June 29, 2024, was $(62,039) million, compared to $(161,912) million for the same period in 2023[36] - Non-GAAP Net Loss for the six months ended June 29, 2024, was $(100,581) million, compared to $(85,215) million for the same period in 2023[36] - GAAP Net Loss Per Share guidance for Q3-24 is $(0.40) - $(0.30)[39] - Non-GAAP Net Loss Per Share guidance for Q3-24 is $(0.11) - $(0.01)[39] - Net cash used in operating activities for the six months ended June 29, 2024 was $20.233 million, compared to $58.111 million in the same period in 2023[25] - The company expects to generate modest positive cash flow from operations during the second half of 2024[14] Inventory and Assets - Inventory as of June 29, 2024, totaled $101.4 million, a 41% reduction compared to Q2 2023[7] - Inventory decreased to $101.365 million as of June 29, 2024 from $152.469 million as of December 30, 2023[23] - Non-GAAP Days in Inventory for the six months ended June 29, 2024, was 67 days, compared to 86 days for the same period in 2023[36] - Total assets decreased to $585.939 million as of June 29, 2024 from $733.698 million as of December 30, 2023[23] Cash and Liabilities - Cash and cash equivalents decreased to $108.513 million as of June 29, 2024 from $185.121 million as of December 30, 2023[23] - Total current liabilities decreased to $221.644 million as of June 29, 2024 from $287.147 million as of December 30, 2023[23] - Days Sales Outstanding for the six months ended June 29, 2024, was 37 days, compared to 28 days for the same period in 2023[36] Headcount and Compensation - The company reduced its total headcount by 35% since year-end 2023[7] - Headcount as of June 29, 2024, was 726, a decrease from 1,139 in the prior year period[27] - Stock-based compensation for the six months ended June 29, 2024 was $12.458 million, compared to $16.505 million in the same period in 2023[21] Product Launches and Distribution - The company introduced the Roomba Combo 10 Max robot + AutoWash Dock, its most advanced product, in July 2024[4][10] - The Roomba Essential series achieved full distribution coverage, launching in 14,000 stores across all regions[9] Revenue and Gross Margin Guidance - Q3 2024 revenue is expected to be between $217 million and $223 million, with a GAAP gross margin of 33% to 34%[12] - Full-year 2024 revenue is revised to $765 million to $800 million, with a GAAP gross margin of 27% to 28%[13]

Identifying stocks to sell is crucial for investors who want to keep their capital. That might mean occasionally rebalancing one’s portfolio, or if the situation is grave enough, some stocks might need to be cut completely out. And, with how bullish the tech industry is right now, I bet most of you are holding a few tech stocks in your portfolio because they’re great for profits. That being said, a sudden market downturn can also lead to massive (and disproportionate) sell-offs in the tech industry, so it m ...