Welcome to our dedicated page for iRobot Corporation news (Ticker: IRBT), a resource for investors and traders seeking the latest updates and insights on iRobot Corporation stock.
iRobot Corporation (NASDAQ: IRBT), founded in 1990 by roboticists from the Massachusetts Institute of Technology, is a leading provider of consumer robots. The company is renowned for its innovative home robots that transform the way people clean. iRobot’s flagship product, the Roomba® robot vacuum, has sold over 50 million units globally and is celebrated for its advanced cleaning, mapping, and navigation capabilities.
iRobot's product portfolio extends beyond the Roomba, including the iRobot Braava® family of mopping robots and the Roomba Combo® series that combines vacuuming and mopping functions. The company’s solutions leverage state-of-the-art technologies to create thoughtful and intelligent home innovations aimed at making life easier for consumers.
Recently, iRobot has been undergoing significant structural and leadership changes. In early 2024, the company announced a major operational restructuring plan to align its cost structure with market conditions, focusing on profitability and strategic growth. This restructuring includes a workforce reduction of 31%, cost-saving measures, and a renewed emphasis on iRobot's most profitable segments.
Concurrently, iRobot has experienced a leadership transition. Colin Angle, the long-standing Chairman and CEO, has stepped down. Glen Weinstein, the Executive Vice President and Chief Legal Officer, was appointed as the interim CEO, and Andrew Miller became the Chairman of the Board. In May 2024, Gary Cohen, an executive with a robust background in corporate turnarounds, was named the new CEO.
Financially, iRobot reported a challenging 2023 with a 25% revenue decline year-over-year, primarily due to supply chain issues and global conflicts. However, the company remains optimistic, expecting a more stable financial outlook in 2024. Innovations like the new Roomba Combo Essential, an affordable robot vacuum and mop, aim to boost sales and brand loyalty.
iRobot's commitment to innovation continues as it focuses on enhancing product performance and expanding its market presence. The company’s strategic initiatives and new leadership are expected to pave the way for sustainable value creation and profitability.
iRobot Corp. (NASDAQ: IRBT) will participate in the Bank of America 2022 Global Technology Conference on June 8, 2022, at 3:45 p.m. ET. Key executives, including Julie Zeiler, CFO, and Andrew Kramer, VP of Investor Relations, will represent the company. This event highlights iRobot's leadership in consumer robotics, known for creating the Roomba vacuum and selling over 40 million robots globally. For more details, visit the event link: iRobot Event Details.
iRobot Corp. (NASDAQ: IRBT) has launched iRobot OS, an advanced version of its Genius Home Intelligence platform. This new operating system enhances the user experience, enabling over 2.7 million cleaning missions daily worldwide from a growing base of 20 million connected devices. iRobot OS features enhanced voice command recognition with approximately 600 commands and is specifically designed for pet owners, with unique capabilities to identify and avoid obstacles, including solid pet waste. The Roomba j7 Series has become the top-selling robot in the US and Japan since its launch in September 2021.
iRobot Corp. (NASDAQ: IRBT) reported its Q1 2022 financial results, revealing revenue of $292 million, down from $303.3 million in Q1 2021. The company saw strong revenue growth of 33% in the U.S. and 25% in Japan, but faced a 44% decline in EMEA. Despite an operating loss of $23.3 million, iRobot plans to increase the high end of its FY22 EPS guidance to between ($0.37) - $0.23. A tariff exclusion and effective cost management helped mitigate losses. The company aims for revenue growth in North America while adjusting expectations for EMEA due to inflation and consumer confidence issues.
iRobot Corp. (NASDAQ: IRBT) will release its first-quarter 2022 financial results after market close on May 4, 2022. A conference call to discuss these results and the company’s outlook is scheduled for May 5, 2022, at 8:30 a.m. ET. Investors can join the call by dialing 785-424-1734 and using conference ID 31564. The call details and a live webcast will be available on iRobot’s investor relations website. iRobot has sold over 40 million robots worldwide since launching its Roomba® in 2002, focusing on home innovations.
iRobot Corp. (NASDAQ: IRBT) has launched the iRobot Genius 4.0 Home Intelligence software update for its Roomba and Braava jet cleaning robots. Key features include Imprint Smart Mapping for Roomba i3 and i3+ series, Siri integration, and enhanced object detection for the j7 series, now recognizing clothing and towels. The Roomba i3 and i3+ will be rebranded as i3 EVO models, priced starting at $349 and $549 respectively. The update aims to improve customization and control for users, enhancing overall cleaning experiences.
iRobot Corp. (NASDAQ: IRBT) reported its fourth-quarter and full-year results for 2021, revealing a 16% decline in Q4 revenue to $455.4 million and a 9% growth in total annual revenue of $1.565 billion. Despite facing supply chain challenges and a GAAP operating loss of $44.9 million in Q4, the company grew its connected customer base by 44%. Looking ahead, iRobot anticipates solid top-line growth in 2022 with expectations of improving profitability in the latter half of the year as supply chain issues ease. They project revenue between $1.75 billion and $1.85 billion for the next fiscal year.
iRobot Corp. (NASDAQ: IRBT) will release its fourth-quarter and full-year 2021 financial results on February 9, 2022. Following this, the company will host a live webcast and conference call on February 10 at 8:30 a.m. ET to discuss the results and provide an outlook for 2022. The call can be accessed via phone or streamed on iRobot’s investor website. An archive of the call will be available after the live event.
iRobot Corp. (NASDAQ: IRBT) has announced its participation in the Needham & Company 24th Annual Virtual Growth Conference on January 13, 2022. The presentation will be led by key executives including Julie Zeiler, CFO, and Andrew Kramer, VP of Investor Relations. The event is scheduled for 2:00 p.m. ET and will provide insights into iRobot's advancements in consumer robotics. For further details, visit the event link.
iRobot Corp. (NASDAQ: IRBT) announces participation in two investor events this December. The first event is the Raymond James Technology Conference on December 6, 2021, at 2:10 p.m. ET, featuring executives Colin Angle, Julie Zeiler, and Andrew Kramer. The second event, iRobot 2021 Virtual Investor Day, is scheduled for December 9, 2021, at 9:00 a.m. ET, showcasing presentations by the executive leadership. Interested investors should register in advance. For more details, visit iRobot’s investor relations website.
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