iRobot Expanding Direct-to-Consumer Product and Service Offerings

Rhea-AI Summary

iRobot Corp. (NASDAQ: IRBT) announced the launch of the iRobot H1 handheld vacuum, designed for hard-to-reach spaces like couches and stairs. This product is part of the company's strategy to enhance direct-to-consumer sales, which doubled in Q4 2020, contributing 11% of total revenue. The company has also introduced extended warranties through iRobot Protect and Protect+, attracting positive customer feedback. Approximately 9.7 million customers are connected to iRobot, reflecting an 80% growth in its customer base during 2020.

Positive

• Launch of the iRobot H1 handheld vacuum enhances product diversity.
• Direct-to-consumer sales doubled in Q4 2020, generating 11% of total revenue.
• Customer base grew over 80% to 9.7 million in 2020.
• Positive early feedback on new membership and extended warranty services.

Negative

• None.

BEDFORD, Mass., April 6, 2021 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced it is diversifying its product offerings with the introduction of the iRobot H1 handheld vacuum for cleaning hard-to-reach areas like couches, curtains and stairs. The company also reported continued progress in its efforts to offer new services that provide customers with greater purchase protection and flexibility, such as its Protect and Protect+ extended warranties, and positive early test results from iRobot Select, its robot-as-a-service membership program.

As previously reported, iRobot's direct-to-consumer sales more than doubled in the fourth quarter and generated 11% of total 2020 revenue while the company continued to enjoy strong demand from major retailers worldwide. During 2020, iRobot's connected customer base grew over 80% to 9.7 million customers. The introduction of a new premium handheld vacuum and broad commercial availability of extended warranty packages are the latest milestones in the company's efforts to build stronger, more enduring direct relationships with its customers and nurture the lifetime value of these relationships.

"We have always believed that the future of vacuuming is a Roomba robot and a cordless vacuum for hard-to-reach places. The H1 handheld vacuum complements our existing product lineup by offering customers a premium iRobot solution for cleaning beyond the floor. It also represents the first product introduction that leverages our enhanced direct-to-consumer capabilities, allowing for another efficient way to bring new products to market," said Colin Angle, chairman and CEO of iRobot. "We've also been delighted with the frequency at which customers are adding extended warranty coverage when they purchase robots directly from us. In addition, we have been pleased thus far by the overwhelmingly positive response from our small-scale pilots of new premium membership and care services."

iRobot H1 Handheld Vacuum

The iRobot H1 handheld vacuum rounds out a Roomba^® or Braava^® robot user's cleaning routine by tackling spaces like couches and stairs. It includes three specialized accessories: a motorized upholstery tool, a crevice tool and a 2-in-1 combination tool for quick dusting anywhere. The handheld vacuum's adjustable power setting provides strong suction for heavier messes and a lower suction option for daily touchups and longer run time. Dust and pollen stay trapped by a dual filtration system that includes a high-efficiency exhaust filter.   

The iRobot H1 handheld vacuum is available for purchase in the U.S. ($249.99) on www.irobot.com. Availability in other markets is not being announced at this time.

iRobot Protect and Protect+ Extended Warranties

iRobot Roomba and Braava robots are sold with a limited, one-year warranty. U.S. customers can now extend their warranties with iRobot Protect for an additional one-year or three-year term that covers the robot and its battery, along with free shipping and on-demand access to experts who help customers get the most from their robots. Additional information about iRobot Protect is available on www.irobot.com/protection-plan/protect. Alternatively, U.S. customers can purchase iRobot Protect+, which not only extends the length of warranty by either one or three years including free shipping and on-demand access to experts, but also includes accidental damage coverage. Accidental damage coverage begins from the date of purchase and is active through the length of the extended warranty. Additional information about iRobot Protect+ is available on www.irobot.com/protection-plan/protect-plus.

About iRobot Corporation
iRobot, the leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home. iRobot created the home robot cleaning category with the introduction of its Roomba^® Robot Vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 30 million robots worldwide. iRobot's product line, including the Roomba^® and the Braava^® family of mopping robots, feature proprietary technologies and advanced concepts in cleaning, mapping and navigation. iRobot engineers are building an ecosystem of robots and technologies to enable the smart home. For more information about iRobot, please visit www.irobot.com.

For iRobot Investors

Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to iRobot Corporation's expectations concerning product launches, service offerings, as well as management's plans, objectives and strategies. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K.

 

 

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SOURCE iRobot Corporation

FAQ

What is the iRobot H1 handheld vacuum?

The iRobot H1 handheld vacuum is designed for cleaning hard-to-reach areas like couches and stairs, featuring specialized accessories and various suction settings.

When was the iRobot H1 handheld vacuum launched?

The iRobot H1 handheld vacuum was launched on April 6, 2021.

How much does the iRobot H1 cost?

The iRobot H1 is available for purchase at $249.99.

What are iRobot Protect and Protect+ warranties?

iRobot Protect and Protect+ are extended warranty options that offer additional coverage for Roomba and Braava robots, including accidental damage protection.

How has iRobot's customer base changed?

iRobot's connected customer base grew over 80% to 9.7 million customers during 2020.