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) 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.
iRobot Corp. (NASDAQ: IRBT) has announced its participation in two upcoming virtual investor conferences in May 2021. The first will take place on May 18 at the Needham & Co. Virtual Technology & Media Conference at 1:30 p.m. ET. The second event is scheduled for May 26 at the J.P. Morgan Global Technology, Media and Communications Conference at 11:10 a.m. ET. Key executives participating include Julie Zeiler, Andrew Kramer, and Colin Angle. For more details, visit their investor relations page.
iRobot Corp. (NASDAQ: IRBT) reported a strong first quarter for 2021, achieving $303.3 million in revenue, a 58% increase year-over-year. The growth was driven by robust demand across geographical regions, with notable 40% growth in the U.S. and 74% in EMEA. The company affirmed its full-year revenue guidance of $1.67 - $1.71 billion while managing rising operational costs. iRobot's non-GAAP EPS improved to $0.41, compared to a loss last year. The company also announced a $50 million stock repurchase plan to enhance shareholder value.
iRobot Corp. (NASDAQ: IRBT) announced it will release its first-quarter financial results on May 3, 2021, after market close. A conference call for investors to discuss these results and the company's outlook is scheduled for May 4, 2021, at 8:30 a.m. ET. Interested parties can access the call via telephone or through a live webcast on iRobot's investor relations site. The call will include a Q&A session for investors. The recorded version will be available for replay until May 11, 2021.
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.
iRobot Corp. (NASDAQ: IRBT) launched new coding resources via iRobot Education on April 5, 2021, to enhance STEM education access. This initiative coincides with National Robotics Week and introduces social-emotional learning (SEL) lessons, coding in Python, and multi-language support for the iRobot Coding App. New features include a 3D Root coding robot simulator to facilitate remote learning. CEO Colin Angle emphasized these tools aim to foster inclusivity and support students in developing coding skills for future STEM careers.
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