NEW YORK, March 17, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of iRobot Corporation ("iRobot" or the "Company") (NASDAQ: IRBT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether iRobot and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.[Click here for information about joining the class action]On March 12, 2025, iRobot ...

iRobot Corporation (IRBT) reported fourth-quarter 2024 adjusted loss of $2.06 per share, wider than the Zacks Consensus Estimate of a loss of $1.45 per share. The reported figure compares favorably with the year-ago quarter’s net loss of $1.82 per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.IRBT’s Revenue DetailsiRobot generated revenues of $172 million, which missed the Zacks Consensus Estimate of $191 million. On a year-over-year basis, revenues declined 44.1% due to dec ...

iRobot (IRBT -35.66%) stock has fallen 35% after the company issued a "going concern" warning, raising doubts about its ability to stay in business over the next year.What happened?The company behind the popular Roomba vacuums revealed severe financial instability, highlighting declining revenue and mounting losses. iRobot has now withdrawn its 2025 financial guidance and canceled its scheduled earnings call, a move that often signals worsening conditions.The company's net loss widened to $77.1 million in i ...

Roomba vacuum cleaner maker iRobot, a former $1.4 billion buyout target of Amazon, raised concerns on Wednesday about its ability to stay in business.Shares of the company fell more than 35%, extending a multi-year decline from its pandemic-era peak.“Given macroeconomic and tariff-related uncertainties, there is substantial doubt about iRobot’s ability to continue as a going concern,” iRobot said in a statement.Roomba maker iRobot was a former $1.4 billion buyout target of Amazon. The deal was scrapped due ...

Core Insights - iRobot's shares dropped over 30% after the company expressed "substantial doubt" about its ability to continue operations due to financial struggles following the abandonment of a $1.7 billion acquisition by Amazon [1][3] Financial Performance - iRobot's fourth-quarter revenue fell 44% year-over-year to $172 million, missing estimates of $180.8 million, with a net loss of $77.1 million or $2.52 per share [4] - Excluding a one-time manufacturing transition charge, the loss was $2.06 per share, which exceeded the projected loss of $1.73 per share by analysts [4] Restructuring Efforts - The company has laid off 51% of its workforce since the end of 2023 and is attempting to revitalize revenue by launching eight new Roomba models [2] - iRobot has initiated a strategic review of its business, considering options such as refinancing debt and exploring a potential sale [6] Market Challenges - iRobot faces challenges including limited consumer demand, tariff uncertainties, and increased competition from rapidly growing robotic vacuum companies based in China [3][8] - The failed acquisition by Amazon was partly due to regulatory scrutiny from both the European Union and the U.S. Federal Trade Commission [7][9]

iRobot Corporation (IRBT) recently introduced advanced Roomba vacuums and two-in-one vacuum and mop solutions. This marks the company’s most advanced collection of Roomba vacuums in its 35-year history.These advanced models are equipped with innovative features like upgraded suction power, advanced ClearView Lidar Navigation for faster mapping and PrecisionVision AI Technology for precise cleaning. They also come with capabilities including automatic carpet detection, object sensing and avoidance and improv ...

Consumer robot company iRobot, maker of the Roomba robot vacuum, said in a Wednesday (March 12) earnings release that there is “substantial doubt” about its ability to continue as a going concern.The company’s board of directors has initiated a formal strategic review in which they will consider a potential sale or strategic transaction, refinancing the company’s debt and other alternatives, iRobot said in the release.In another press release issued Wednesday, iRobot said it added to its board of directors ...

Company Overview - Proactive is a provider of fast, accessible, informative, and actionable business and finance news content aimed at a global investment audience [2] - The company operates with a focus on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] Content Production - Proactive's content is produced independently by experienced and qualified news journalists, ensuring high-quality reporting [2] - The news team is strategically located in key finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Financial Performance and Projections - iRobot expects Q4 2024 revenue of approximately $171 million, with a GAAP operating loss of ($59) million and a non-GAAP operating loss of ($47) million[1] - The company anticipates improved margins and profitability in 2025 due to lower product costs and reduced development timelines[2] - iRobot expects to return to year-over-year top-line growth in 2025, with stronger performance in the second half driven by new product launches[2] - iRobot expects Q1 2025 results to reflect a transitional period for its product line[2] Non-Recurring Charges and Adjustments - The company recorded an incremental non-recurring charge of $8 million in Q4 2024 related to excess component inventory write-offs and non-cancelable purchase commitments[2] - Non-GAAP adjustments for Q4 2024 include $7 million in stock-based compensation and $5 million in restructuring costs, totaling $12 million in adjustments[16] Cash Position and Restructuring - iRobot ended fiscal 2024 with approximately $134 million in cash and cash equivalents, exceeding internal forecasts[1] - iRobot exceeded its 2024 operating expense restructuring targets while investing in growth areas[2] Product Development and Launches - The company plans to introduce new and revitalized products in 2025, with product launches scheduled to excite consumers and improve the consumer experience[2] Upcoming Events - The company will present at the ICR Conference 2025 and the 27th Annual Needham Growth Conference in January 2025[3]

Financial Performance - Total revenue for fiscal 2024 was $681.8 million, a decline of 23.4% from $890.6 million in fiscal 2023[205]. - Domestic revenue decreased by $95.8 million, or 22.4%, while international revenue declined by $112.9 million, or 24.4%[205]. - Gross profit for fiscal 2024 was $142.4 million, with a gross margin of 20.9%, compared to $196.4 million and 22.0% in fiscal 2023[215]. - Operating loss for fiscal 2024 was $103.0 million, with an operating margin of (15.1)%, compared to a loss of $264.1 million and (29.7)% in fiscal 2023[215]. - GAAP Net Loss for fiscal 2024 was $(145,518,000), down from $(304,710,000) in fiscal 2023, reflecting a decrease of 52.3%[225]. - Non-GAAP Net Loss for fiscal 2024 was $(162,519,000), compared to $(214,047,000) in fiscal 2023, indicating a reduction of 24.1%[225]. - Total operating loss for fiscal 2023 was $264.1 million, while the operating loss for fiscal 2024 was reduced to $103.0 million, despite a revenue decline of 23%[355][356]. Cost Management - The operational restructuring plan resulted in a total reduction of $126.4 million in operating expenses for fiscal 2024 compared to the prior fiscal year[208]. - Research and development expenses for fiscal 2024 were $93.3 million, a decrease from $143.5 million in fiscal 2023, reflecting the company's operational restructuring plan[257]. - Selling and marketing expenses for fiscal 2024 were $138.8 million, down from $199.3 million in fiscal 2023, indicating cost-cutting measures in response to declining revenue[255]. - General and administrative expenses decreased by $121.2 million, or 116.4%, to ($17.1) million in fiscal 2024, which is (2.5)% of revenue, down from 11.7% in fiscal 2023[267]. - Restructuring and other expenses increased by $25.8 million, or 315.8%, to $33.9 million in fiscal 2024, representing 5.0% of revenue, compared to 0.9% in fiscal 2023[270]. Workforce and Restructuring - The company initiated a workforce reduction of approximately 440 employees, representing 40% of its global workforce as of December 30, 2023[208]. - A restructuring plan was implemented, resulting in a workforce reduction of approximately 440 employees, or 40% of the global workforce[356]. - The operational restructuring plan initiated in January 2024 aims to drive profitability through workforce reduction and targeted marketing expenditures[261]. Product Development and Market Strategy - The company launched new products including the Roomba Combo Essential and Roomba Combo 10 Max, enhancing cleaning capabilities and accessibility[204]. - The company expects to participate more fully in the robotic floorcare market segment with new product launches planned for 2025[205]. - The company plans to continue investing in software intelligence and robotics to enhance product offerings and address emerging market trends[257]. - The company announced the largest product launch in its history on March 11, 2025, with expectations of margin-accretive new products supporting year-over-year revenue growth[302]. Cash Flow and Liquidity - Cash and cash equivalents as of December 28, 2024, totaled $134.3 million, down from $185.1 million a year ago[300]. - Net cash used in operating activities for fiscal 2024 was $33.2 million, driven by a net loss of $145.5 million, partially offset by non-cash charges of $78.6 million[286]. - The company has an outstanding term loan of $200.6 million as of December 28, 2024, with a maturity date of July 24, 2026[301]. - The company anticipates improved cash flow from operations driven by the new product launch and restructuring actions[360]. Going Concern and Strategic Review - There is substantial doubt about the company's ability to continue as a going concern due to potential reduced demand and challenging macroeconomic conditions[304]. - The auditor's report expresses substantial doubt about the company's ability to continue as a going concern, resulting in a breach of the Going Concern Covenant[305]. - The iRobot Board of Directors has initiated a formal strategic review to explore potential sales or refinancing options for the Company's debt[366]. Inventory and Allowances - Inventory was reduced to $76.0 million as of December 28, 2024, compared to $152.5 million a year ago, reflecting careful management to align with near-term revenue expectations[300]. - The allowance for product returns as of December 28, 2024, was recorded at $14.6 million, reflecting management's expectations based on historical data[332]. - The allowance for product returns decreased to $14.6 million as of December 28, 2024, from $24.7 million as of December 30, 2023[374].