BEDFORD, Mass., June 13, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, announced the addition of Julien Mininberg, former chief executive officer of Helen of Troy, to its board of directors. Mr. Mininberg brings a wealth of global consumer product experience in areas including sales, marketing, retail, finance, mergers and acquisitions, organizational restructuring, strategic planning and corporate turnarounds.iRobot announced the addition of Julien Mininberg to its board of ...

BEDFORD, Mass., June 11, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that it granted equity awards on June 7, 2024 as a material inducement to the employment of the company's newly-hired Chief Executive Officer, Gary S. Cohen. Notice of Issuance of Inducement Grant In connection with the appointment of Mr. Cohen as Chief Executive Officer effective May 6, 2024, iRobot granted Mr. Cohen employment inducement awards consisting of (a) 290,000 time-based restri ...

It has been about a month since the last earnings report for iRobot (IRBT) . Shares have lost about 8.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is iRobot due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. iRobot Incurs Narrower-Than-Expected Net Loss in Q1iRobo ...

Can its new CEO orchestrate a turnaround?Shares of autonomous vacuum cleaner company iRobot (IRBT 3.67%) were up 12.3% during May, according to data provided by S&P Global Market Intelligence. While that was enough to outpace the nearly 5% for the S&P 500, shareholders might still be disappointed with the final outcome of the month considering the stock was up more than 50% at one point.It's hard to pinpoint the biggest factor that sent iRobot up more than 50% in early May but it was possibly the news of it ...

Turnaround plays are risky options, although they do possess a lot of potential upside if they go well.When Amazon's deal to acquire iRobot (IRBT 3.12%) fell through earlier this year, it was as if the air was let out of the robot vacuum maker's stock. Almost in an instant, shares went over a cliff. The company has been struggling to gain traction ever since. Its sales have been declining, the business is struggling to stay out of the red, and cash burn is also a concern. After all of this, iRobot's stock i ...

Could this stock really have 200% upside?Warren Buffett is one of the greatest investors of all time but he's not stingy with his knowledge. On the contrary, he wants to be remembered as a teacher. And in 1988, he used his annual letter to shareholders of Berkshire Hathaway to educate investors on something called merger arbitrage.In short, merger arbitrage happens when a stock trades at a price that is lower than what another company has already agreed to pay in a takeover. The first question that Buffett ...

There are some key robotics stocks for investors to buy in May, amid the broader indices like the Nasdaq surging upwards. Some analysts expect the rally for tech stocks in general will continue.The robotics stocks to buy mentioned in this article are powerful names, and I believe they will continue to deliver strong gains to investors. Those who get in early will reap the rewards. Investing a substantial amount in these companies could lead to seven-figure returns later on, as the growth potential of these ...

iRobot got a meme-stock bump, but don't robotically follow the crowd and end up making a hasty choice.iRobot (IRBT -4.85%) stock has been a somewhat volatile investment option in the consumer goods space. The company is mainly known for one product line, the Roomba robotic vacuum cleaner. If iRobot sells a lot of Roombas, its investors clean up, so to speak. If they don't, iRobot's stock performance tends to suck, and not in a good vacuum-y way. Since mid-2021, it's been more of a sucking sound.But what do ...

Core Viewpoint - iRobot Corporation reported a narrower adjusted loss per share of $1.53 for Q1 2024, compared to the Zacks Consensus Estimate of a loss of $2.03 and a net loss of $1.67 in the same quarter last year [1] Revenue Details - iRobot generated revenues of $150 million in Q1 2024, exceeding the Zacks Consensus Estimate of $139 million, but reflecting a 6.4% year-over-year decline due to lower sales across all product categories [2] - Premium and mid-tier robots accounted for 81% of total robot revenues, down from 88% in the year-ago quarter [2] - Total product units shipped were 456 thousand, a 4.6% increase year-over-year, while average selling prices decreased by 13.9% [2] - Revenues from solo and other products were $94 million, down 30.4% year-over-year, with units shipped declining by 28.4% [2] - Revenues from 2-in-1 products increased by 124% year-over-year to $56 million, with units shipped rising from 63 thousand to 189 thousand [2] Regional Performance - Domestic operations contributed 45.9% of revenues, totaling $68.9 million, which is a 4.3% decline year-over-year [3] - International revenues decreased by 8.2% year-over-year to $81.1 million [3] Margin Profile - Cost of revenues decreased by 7.8% year-over-year to $113.9 million, while adjusted gross profit was $36.9 million, down 2.6% year-over-year [4] - Adjusted gross margin expanded by 90 basis points to 24.6% [4] - Research and development expenses were $33.9 million, down 17.9% year-over-year, and selling and marketing expenses fell by 30.1% to $29.7 million [4] - Adjusted operating loss was $40 million, an improvement from $62.3 million in the prior year, with an adjusted operating margin of (26.6%) compared to (38.9%) in the year-ago quarter [4] Balance Sheet and Cash Flow - As of the end of Q1 2024, iRobot had cash and cash equivalents of $118.4 million, down from $185.1 million at the end of Q4 2023 [5] - Total long-term liabilities decreased to $214.7 million from $250.1 million at the end of Q4 2023 [5] - The company generated net cash of $1.44 billion from operating activities, a significant increase from a net cash outflow of $94.5 million in the prior-year period [5] - Capital expenditures for property and equipment fell by 91.9% year-over-year to $118 million [5] Outlook - For Q2 2024, iRobot expects net sales between $167 million and $172 million, down from $237 million in the same quarter last year [6] - Adjusted gross margin is projected to be between 24% and 25%, with an expected adjusted loss per share of $1.74 to $1.81, higher than the adjusted loss of $1.42 in the previous year [6] - For the full year 2024, net sales are forecasted to be between $815 million and $860 million, a decrease from $891 million reported in 2023 [6][7] - Adjusted gross margin for the full year is anticipated to be between 31% and 33%, with an adjusted loss per share projected between $2.71 and $3.13, which is an improvement from an adjusted loss of $7.73 in 2023 [7]

The robotic cleaning device specialist reported first-quarter earnings Tuesday afternoon.iRobot (IRBT 11.88%) investors had a great Wednesday morning as shares gained 10.7% compared to a modest drop in the S&P 500. However, the consumer tech company, which specializes in robotic home cleaning devices, is still in deeply negative territory for the year. Its shares are down by more than 70% in 2024 so far, while the market is up 9%.Wednesday's boost came as investors became a little less pessimistic about iRo ...