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iRobot(IRBT) - 2024 Q4 - Annual Results
IRBTiRobot(IRBT)2025-03-12 11:16

Financial Performance and Projections - iRobot expects Q4 2024 revenue of approximately 171million,withaGAAPoperatinglossof(171 million, with a GAAP operating loss of (59) million and a non-GAAP operating loss of (47)million[1]−Thecompanyanticipatesimprovedmarginsandprofitabilityin2025duetolowerproductcostsandreduceddevelopmenttimelines[2]−iRobotexpectstoreturntoyear−over−yeartop−linegrowthin2025,withstrongerperformanceinthesecondhalfdrivenbynewproductlaunches[2]−iRobotexpectsQ12025resultstoreflectatransitionalperiodforitsproductline[2]Non−RecurringChargesandAdjustments−Thecompanyrecordedanincrementalnon−recurringchargeof47) 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 7millioninstock−basedcompensationand7 million in stock-based compensation and 5 million in restructuring costs, totaling 12millioninadjustments[16]CashPositionandRestructuring−iRobotendedfiscal2024withapproximately12 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]