IRobot (IRBT) came out with a quarterly loss of $1.96 per share versus the Zacks Consensus Estimate of a loss of $1.77. This compares to loss of $1.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.73%. A quarter ago, it was expected that this robotics technology company would post a loss of $2.03 per share when it actually produced a loss of $1.53, delivering a surprise of 24.63%.Over the last four quarters, the company ...

Revenue and Sales Performance - Q2 2024 revenue declined to $166.4 million, a 29.7% decrease compared to Q2 2023 revenue of $236.6 million[5] - Revenue for the three months ended June 29, 2024 was $166.361 million, a decrease from $236.568 million in the same period in 2023[21] - Total revenue for the three months ended June 29, 2024, was $166.361 million, a decrease from $236.568 million in the same period last year[27] - Domestic revenue for the three months ended June 29, 2024, was $84.364 million, compared to $130.958 million in the prior year period[27] - International revenue for the three months ended June 29, 2024, was $81.997 million, down from $105.610 million in the same period last year[27] - Revenue from mid-tier and premium robots represented 76% of total robot sales in Q2 2024, down from 84% in the same period last year[8] - Total robot units shipped for the three months ended June 29, 2024, were 574,000, a decrease from 831,000 in the prior year period[27] - Average gross selling price for robot units for the three months ended June 29, 2024, was $330, compared to $347 in the same period last year[27] Gross Margin and Profitability - GAAP gross margin for Q2 2024 was 16.5%, down from 22.6% in Q2 2023, impacted by an $18.4 million non-recurring charge related to inventory write-offs[5][6] - GAAP gross margin for the three months ended June 29, 2024, was 16.5%, compared to 22.6% in the same period last year[34] - Non-GAAP gross margin for the three months ended June 29, 2024, was 16.7%, down from 23.2% in the prior year period[34] - GAAP Gross Profit guidance for Q3-24 is $72 - $76 million, with a Gross Margin of 33% - 34%[39] - Non-GAAP Gross Profit guidance for Q3-24 is $72 - $76 million, with a Gross Margin of 33% - 34%[39] Operating Expenses and Losses - GAAP operating loss for the three months ended June 29, 2024, was $61.068 million, compared to $71.056 million in the same period last year[34] - Non-GAAP operating loss for the three months ended June 29, 2024, was $48.203 million, an improvement from $50.485 million in the prior year period[34] - GAAP Operating Expenses for FY-24 are projected to be $267 - $271 million[39] - Non-GAAP Operating Expenses for FY-24 are projected to be $291 - $295 million[39] - Research and development expenses for the six months ended June 29, 2024 were $57.108 million, compared to $79.240 million in the same period in 2023[21] - Selling and marketing expenses for the six months ended June 29, 2024 were $69.696 million, compared to $98.072 million in the same period in 2023[21] Net Loss and Cash Flow - Net loss for the six months ended June 29, 2024 was $62.039 million, compared to a net loss of $161.912 million in the same period in 2023[21] - GAAP Net Loss for the six months ended June 29, 2024, was $(62,039) million, compared to $(161,912) million for the same period in 2023[36] - Non-GAAP Net Loss for the six months ended June 29, 2024, was $(100,581) million, compared to $(85,215) million for the same period in 2023[36] - GAAP Net Loss Per Share guidance for Q3-24 is $(0.40) - $(0.30)[39] - Non-GAAP Net Loss Per Share guidance for Q3-24 is $(0.11) - $(0.01)[39] - Net cash used in operating activities for the six months ended June 29, 2024 was $20.233 million, compared to $58.111 million in the same period in 2023[25] - The company expects to generate modest positive cash flow from operations during the second half of 2024[14] Inventory and Assets - Inventory as of June 29, 2024, totaled $101.4 million, a 41% reduction compared to Q2 2023[7] - Inventory decreased to $101.365 million as of June 29, 2024 from $152.469 million as of December 30, 2023[23] - Non-GAAP Days in Inventory for the six months ended June 29, 2024, was 67 days, compared to 86 days for the same period in 2023[36] - Total assets decreased to $585.939 million as of June 29, 2024 from $733.698 million as of December 30, 2023[23] Cash and Liabilities - Cash and cash equivalents decreased to $108.513 million as of June 29, 2024 from $185.121 million as of December 30, 2023[23] - Total current liabilities decreased to $221.644 million as of June 29, 2024 from $287.147 million as of December 30, 2023[23] - Days Sales Outstanding for the six months ended June 29, 2024, was 37 days, compared to 28 days for the same period in 2023[36] Headcount and Compensation - The company reduced its total headcount by 35% since year-end 2023[7] - Headcount as of June 29, 2024, was 726, a decrease from 1,139 in the prior year period[27] - Stock-based compensation for the six months ended June 29, 2024 was $12.458 million, compared to $16.505 million in the same period in 2023[21] Product Launches and Distribution - The company introduced the Roomba Combo 10 Max robot + AutoWash Dock, its most advanced product, in July 2024[4][10] - The Roomba Essential series achieved full distribution coverage, launching in 14,000 stores across all regions[9] Revenue and Gross Margin Guidance - Q3 2024 revenue is expected to be between $217 million and $223 million, with a GAAP gross margin of 33% to 34%[12] - Full-year 2024 revenue is revised to $765 million to $800 million, with a GAAP gross margin of 27% to 28%[13]

Identifying stocks to sell is crucial for investors who want to keep their capital. That might mean occasionally rebalancing one’s portfolio, or if the situation is grave enough, some stocks might need to be cut completely out. And, with how bullish the tech industry is right now, I bet most of you are holding a few tech stocks in your portfolio because they’re great for profits. That being said, a sudden market downturn can also lead to massive (and disproportionate) sell-offs in the tech industry, so it m ...

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against iRobot Corporation (NASDAQ: IRBT) on behalf of long-term stockholders following a class action complaint that was filed against iRobot on March 8, 2024 with a Class Period from August 5, 2022 to January 26, 2024. Our investigation concerns whether the board of directors of iRobot have breached their fiduciary duties to the company. iRobot des ...

iRobot's first AutoWash™ Dock adds automatic mop pad washing and self-cleaning for a more hands-free customer experiencePowered by iRobot OS Intelligence, new Enhanced Dirt Detect™Technology recognizes and cleans the dirtiest areas even moreBEDFORD, Mass., July 23, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today introduced its most advanced robot vacuum and mop, the Roomba Combo® 10 Max Robot + AutoWash™ Dock. The newly designed 2-in-1 Roomba Combo 10 Max brings independ ...

BEDFORD, Mass., July 18, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that it will issue its second-quarter 2024 financial results after market close on Tuesday, August 6, 2024. The earnings press release will be posted to the company's investor relations website at https://investor.irobot.com/news-releases. On August 7, the company will host a live conference call and webcast to review the financial results and to discuss the company's outlook.Conference ca ...

As the field of robotics progresses and enters more and more industries, robotics stocks are becoming increasingly promising investments.AI machine learning (ML) are some of the critical aspects that have formed the basis of robotics today. The advancements in these technologies are allowing the robots to do more and work more efficiently.The application of robotics technology is on the rise in various industries such as manufacturing, healthcare, supply chain and even in sales. Some of them include industr ...

Beano5 iRobot Corp. (NASDAQ:IRBT) used to be one of my go-to stocks in assessing the robotics theme. The company introduced the first Roomba robot vacuum in 2002, and I can still remember the novelty of seeing that little spinning robot vacuum in action. However, the company dropped off my radar after Amazon (AMZN) agreed to purchase the iRobot in August 2022, and I stopped following the company. To my surprise, I was recently browsing through stock charts of Consumer Discretionary stocks when I came ac ...

BEDFORD, Mass., June 13, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, announced the addition of Julien Mininberg, former chief executive officer of Helen of Troy, to its board of directors. Mr. Mininberg brings a wealth of global consumer product experience in areas including sales, marketing, retail, finance, mergers and acquisitions, organizational restructuring, strategic planning and corporate turnarounds.iRobot announced the addition of Julien Mininberg to its board of ...

BEDFORD, Mass., June 11, 2024 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that it granted equity awards on June 7, 2024 as a material inducement to the employment of the company's newly-hired Chief Executive Officer, Gary S. Cohen. Notice of Issuance of Inducement Grant In connection with the appointment of Mr. Cohen as Chief Executive Officer effective May 6, 2024, iRobot granted Mr. Cohen employment inducement awards consisting of (a) 290,000 time-based restri ...