Financial Performance - In Q3 2024, iRobot reported revenue of 193.4million,a3.9186.2 million in Q3 2023[4] - The non-GAAP gross margin improved by 590 basis points year-over-year, reaching 32.4% compared to 26.5% in Q3 2023[7] - GAAP operating expenses decreased to 55.1millioninQ32024from107.5 million in Q3 2023, reflecting a significant reduction in costs[4] - iRobot's GAAP net loss per share improved to (0.21)inQ32024,comparedto(2.86) in Q3 2023[6] - Revenue for the three months ended September 28, 2024, was 193,435thousand,a3.4186,176 thousand for the same period in 2023[22] - Gross profit for the three months ended September 28, 2024, was 62,377thousand,comparedto47,996 thousand for the same period in 2023, representing a 30.2% increase[22] - Operating income for the three months ended September 28, 2024, was 7,257thousand,asignificantimprovementfromalossof59,494 thousand in the same period last year[22] - Net loss for the nine months ended September 28, 2024, was 68,410thousand,comparedtoanetlossof241,117 thousand for the same period in 2023[24] - Non-GAAP gross profit for the three months was 62.8million,comparedto49.4 million in the same period last year, reflecting a significant improvement[31] - GAAP operating income was 7.3million,comparedtoalossof59.5 million in the same quarter last year[31] - Non-GAAP operating income for the three months was 15.1million,arecoveryfromalossof40.6 million in the same period last year[31] Revenue Breakdown - Revenue from mid-tier and premium robots accounted for 79% of total robot sales in Q3 2024, slightly down from 80% in the same period last year[10] - In Q3 2024, revenue increased by 23% in the U.S., while it declined by 20% in Japan and 11% in EMEA compared to the prior year[9] - Domestic revenue increased to 105.1million,up2385.8 million year-over-year, while international revenue decreased by 12% to 88.3million[25]−Totalrobotunitsshippedreached732,a17313 from 331year−over−year[25]CostManagementandRestructuring−iRobothasreduceditstotalheadcountby4119,630 thousand, a decrease from 37,336thousandinthesameperiodlastyear[22]−SellingandmarketingexpensesforthethreemonthsendedSeptember28,2024,were29,270 thousand, down from 41,558thousandinthesameperiodlastyear[22]−Thecompanyisfocusingonstrategicinitiativesandcostrestructuringtoenhanceoperationalefficiencyandproductivity[28]CashandAssets−AsofSeptember28,2024,iRobot′scashandcashequivalentstotaled99.4 million, down from 108.5millionattheendofQ22024[7]−Cashandcashequivalentsattheendoftheperiodwere99,447 thousand, down from 189,649thousandattheendofthesameperiodlastyear[24]−TotalassetsasofDecember30,2023,were733,698 thousand, with total liabilities of 537,211thousand[23]FutureGuidance−iRobotplanstoachievearevenuerangeof685 million to 710millionforthefullfiscalyear2024[16]−GAAPGrossProfitguidanceforQ42024isprojectedtobebetween42 million and 54million,withafullyearguidanceof168 million to 179million[34]−Non−GAAPGrossMarginforQ42024isexpectedtobebetween24(43) million and (34)million,whileforFY2024,itisprojectedtobebetween(84) million and (75)million[34]−Non−GAAPOperatingLossforQ42024isexpectedtobebetween(31) million and (22)million,andforFY2024,itisprojectedtobebetween(104) million and (95)million[34]−GAAPNetLossPerShareforQ42024isprojectedtobebetween(1.88) and (1.58),whileforFY2024,itisexpectedtobebetween(4.27) and (3.96)[34]−Non−GAAPNetLossPerShareforQ42024isestimatedtobebetween(1.50) and (1.20),andforFY2024,itisprojectedtobebetween(4.91) and $(4.60)[34] - The number of shares used in diluted per share calculation for Q4 2024 is approximately 30.6 million[34] Operational Metrics - Days sales outstanding increased to 48 days, compared to 36 days in the previous period[32]
iRobot(IRBT)2024-11-06 11:19