It has been about a month since the last earnings report for iRobot (IRBT) . Shares have lost about 8.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is iRobot due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. iRobot Incurs Narrower-Than-Expected Net Loss in Q1iRobo ...

Can its new CEO orchestrate a turnaround?Shares of autonomous vacuum cleaner company iRobot (IRBT 3.67%) were up 12.3% during May, according to data provided by S&P Global Market Intelligence. While that was enough to outpace the nearly 5% for the S&P 500, shareholders might still be disappointed with the final outcome of the month considering the stock was up more than 50% at one point.It's hard to pinpoint the biggest factor that sent iRobot up more than 50% in early May but it was possibly the news of it ...

Turnaround plays are risky options, although they do possess a lot of potential upside if they go well.When Amazon's deal to acquire iRobot (IRBT 3.12%) fell through earlier this year, it was as if the air was let out of the robot vacuum maker's stock. Almost in an instant, shares went over a cliff. The company has been struggling to gain traction ever since. Its sales have been declining, the business is struggling to stay out of the red, and cash burn is also a concern. After all of this, iRobot's stock i ...

Could this stock really have 200% upside?Warren Buffett is one of the greatest investors of all time but he's not stingy with his knowledge. On the contrary, he wants to be remembered as a teacher. And in 1988, he used his annual letter to shareholders of Berkshire Hathaway to educate investors on something called merger arbitrage.In short, merger arbitrage happens when a stock trades at a price that is lower than what another company has already agreed to pay in a takeover. The first question that Buffett ...

There are some key robotics stocks for investors to buy in May, amid the broader indices like the Nasdaq surging upwards. Some analysts expect the rally for tech stocks in general will continue.The robotics stocks to buy mentioned in this article are powerful names, and I believe they will continue to deliver strong gains to investors. Those who get in early will reap the rewards. Investing a substantial amount in these companies could lead to seven-figure returns later on, as the growth potential of these ...

iRobot got a meme-stock bump, but don't robotically follow the crowd and end up making a hasty choice.iRobot (IRBT -4.85%) stock has been a somewhat volatile investment option in the consumer goods space. The company is mainly known for one product line, the Roomba robotic vacuum cleaner. If iRobot sells a lot of Roombas, its investors clean up, so to speak. If they don't, iRobot's stock performance tends to suck, and not in a good vacuum-y way. Since mid-2021, it's been more of a sucking sound.But what do ...

iRobot Corporation (IRBT) reported first-quarter 2024 adjusted loss of $1.53 per share, narrower than the Zacks Consensus Estimate of a loss of $2.03. The reported figure compares favorably with the year-ago quarter’s net loss of $1.67.Revenue DetailsiRobot generated revenues of $150 million in the reported quarter, beating the Zacks Consensus Estimate of $139 million. On a year-over-year basis, revenues decreased 6.4% due to lower sales across all product categories.Sales derived from premium and mid-tier ...

The robotic cleaning device specialist reported first-quarter earnings Tuesday afternoon.iRobot (IRBT 11.88%) investors had a great Wednesday morning as shares gained 10.7% compared to a modest drop in the S&P 500. However, the consumer tech company, which specializes in robotic home cleaning devices, is still in deeply negative territory for the year. Its shares are down by more than 70% in 2024 so far, while the market is up 9%.Wednesday's boost came as investors became a little less pessimistic about iRo ...

Financial Data and Key Metrics Changes - In Q1 2024, the company generated revenue of $150 million, a decline of 6% year-over-year, with a gross margin of 24.6%, an improvement from 23.7% in Q1 2023 [9][20][22] - The operating loss for Q1 was $40 million, compared to an operating loss of $62 million in the same period last year [22] - The net loss per share was $1.53, reflecting ongoing restructuring efforts and market challenges [23] Business Line Data and Key Metrics Changes - 2-in-1 products accounted for 45% of total robot sales in Q1 2024, while accessory revenue grew 8% year-over-year, representing approximately 12% of total revenue [21] - Revenue from mid-tier and premium robots represented 81% of total robot sales, down from 88% in the prior year, indicating a shift towards more competitively priced products [21] Market Data and Key Metrics Changes - Geographically, revenue declined by 3% in EMEA, 4% in the U.S., and 16% in Japan, with the latter impacted by a 34-year low in the yen against the dollar [20] - Direct-to-consumer (D2C) sales grew 3% year-over-year, with North America and EMEA showing 12% growth, while Japan experienced a 13% decline [21] Company Strategy and Development Direction - The company is focused on a restructuring plan aimed at stabilizing operations while pursuing long-term growth initiatives, including simplifying the cost structure and enhancing product offerings [10][18] - A new CEO has been appointed to lead the transformational strategy, emphasizing innovation and operational excellence [7][8] Management's Comments on Operating Environment and Future Outlook - Management noted a highly competitive environment with sluggish consumer durable goods markets, but expressed confidence in the company's ability to stabilize and grow [35][36] - The company anticipates a revenue decline in the first half of 2024, with expectations for modest positive cash flow in Q3 and Q4 [26][39] Other Important Information - The company reduced its workforce by approximately 330 employees, representing 30% of total staff, as part of its restructuring efforts [23] - Cash and cash equivalents at the end of Q1 were $118 million, a decline of $67 million from the previous quarter [24] Q&A Session Summary Question: Can you elaborate on the competitive dynamics in the marketplace? - Management acknowledged a very aggressive and competitive environment, with variations across regions, and noted ongoing efforts to reengage retail partners [35][36] Question: Should we anticipate any cash infusion or is current cash sufficient for working capital needs? - Management emphasized a focus on liquidity and cash management, aiming for modest positive cash flow in the latter half of the year [39]

| --- | --- | |------------------------------|-------------------| | Contacts: | | | Karian Wong | Charlie Vaida | | Investor Relations | Media Relations | | iRobot Corp. | iRobot Corp. | | (781) 430-3003 | (781) 430-3182 | | investorrelations@irobot.com | cvaida@irobot.com | iRobot Reports First-Quarter 2024 Financial Results Gary Cohen, Former Gillette, Timex and Energizer Executive, Named as Company's New CEO Company Updates Outlook for Full Year 2024 BEDFORD, Mass. - iRobot Corp. (NASDAQ: IRBT), a leade ...