Welcome to our dedicated page for Irobot news (Ticker: IRBT), a resource for investors and traders seeking the latest updates and insights on Irobot 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) and Bona have announced an exclusive partnership to enhance their robotic mopping solutions. The collaboration will introduce Bona Hardwood Floor Cleaner, Bona Hard-Surface Cleaner, and Bona PowerPlus Microfiber Deep Cleaning Pad designed specifically for the iRobot Braava jet m6. These products will be available in select retailers in the U.S. and Canada, as well as online. Additionally, new Braava jet m6 orders will start including these co-branded solutions in Q4 2021, fully transitioning by Q1 2022.
iRobot Corp. (NASDAQ: IRBT) will release its third-quarter 2021 financial results after market close on October 27, 2021. Following this, a live conference call will take place on October 28 at 8:30 a.m. ET to discuss the results and future outlook. Interested investors can listen to the call via the company's website. A replay of the conference call will be available until November 4. iRobot is recognized for pioneering the home robot cleaning market with products like Roomba and Braava, having sold over 30 million robots globally.
iRobot Corp. (NASDAQ: IRBT) has expanded its subscription-based iRobot Select membership program to include the Roomba j7+ vacuum. For a $99 activation fee and $29 monthly subscription, members receive a premium cleaning experience, including automatic accessory replenishment and dedicated support. This program allows for robot upgrades every three years and has received positive feedback from customers since its pilot a year ago. iRobot aims to enhance customer satisfaction with personalized service and an innovative cleaning solution.
Stockperks has launched a new initiative to offer shareholder perks for three public companies: SmileDirectClub (SDC), iRobot (IRBT), and Delek US Holdings (DK). This platform aims to enhance engagement between companies and retail investors, allowing these firms to recognize and communicate with their individual investors throughout the year. Agnies Watson, President of Stockperks, emphasized the need for effective investor relations and expressed excitement about this innovative approach. More information about the perks and the Stockperks platform can be found on their official website.
iRobot Corp. (NASDAQ: IRBT) has launched the Roomba j7+ robot vacuum, featuring advanced iRobot Genius™ 3.0 Home Intelligence. This new model enhances user control and cleaning performance through personalized features like PrecisionVision Navigation, which enables the robot to recognize and avoid obstacles, including cords and pet waste. The Roomba j7+ can automatically clean when users leave home and offers smart map customization. Priced starting at $849, it is available for purchase in North America and will be introduced to Europe in 2022.
iRobot Corp. (NASDAQ: IRBT) has announced its participation in two investor conferences this September. The first event is the Colliers Securities 2021 Institutional Investor Conference on September 9, 2021, featuring executives Julie Zeiler and Andrew Kramer. The second is the Citi 2021 Global Technology Virtual Conference on September 13, 2021, where Colin Angle and Andrew Kramer will speak at 8:50 a.m. ET. No webcasting will be available for these events. For more details, visit the official investor relations page.
iRobot Corp. (NASDAQ: IRBT) reported a 31% revenue growth in Q2 2021, totaling $365.6 million, driven by strong demand in North America and EMEA despite facing a $17 million order shortfall due to pandemic-related shipping disruptions. The company anticipates ongoing challenges from semiconductor shortages affecting second-half orders. iRobot updated its full-year guidance, predicting revenue between $1.55 - $1.62 billion and earnings per share of $2.25 - $3.15. The company also announced a $100 million share repurchase to boost shareholder value.
iRobot Corp. (NASDAQ: IRBT) has scheduled to release its second-quarter 2021 financial results on July 28, 2021, after market close. A live webcast and conference call will take place on July 29, 2021, at 8:30 a.m. ET, to discuss these results and outlook. Interested investors can join the call by dialing 213-358-0894 with conference ID 1444896. An archived version of the webcast will be available shortly after the event. iRobot continues to lead in consumer robots, having sold over 30 million robots globally since the launch of its first Roomba in 2002.
iRobot Corp. (NASDAQ: IRBT) has announced its participation in the Bank of America 2021 Global Technology Conference set for June 8, 2021. The presentation, scheduled for 3:15 p.m. ET, will feature key executives including Colin Angle, Julie Zeiler, and Andrew Kramer. The event will be hosted online, and details can be accessed through the provided link. iRobot, known for its innovative home robots like the Roomba, continues to lead the consumer robot market with over 30 million robots sold globally.
iRobot Corp. (NASDAQ: IRBT) has appointed Faris Habbaba as its new executive vice president and chief research and development officer, effective June 7, 2021. Habbaba, with extensive experience from Zebra Technologies and Motorola Solutions, will oversee iRobot's global R&D efforts, focusing on advancing technologies integral to the company's product roadmap. iRobot has sold over 30 million robots globally and has an installed customer base of nearly 11 million, indicating significant growth potential in the consumer robot market.
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