Irobot - IRBT STOCK NEWS

iRobot (NASDAQ: IRBT) has announced an inducement grant of equity awards to its newly appointed Senior Vice President and General Counsel, Kevin Lanouette. The award, effective March 21, 2025, consists of 120,000 time-based restricted stock units (RSUs) that will vest over a three-year period, contingent on Lanouette's continuous employment.

The inducement award was granted outside iRobot's standard equity incentive plan and was approved by the company's Board of Directors in compliance with Nasdaq Listing Rule 5635(c)(4). The grant serves as a material inducement to Lanouette's employment, which commenced on January 17, 2025.

iRobot (NASDAQ: IRBT) has appointed Neal P. Goldman as an independent director to its Board of Directors, expanding the board to nine members, with eight being independent directors. Goldman, currently CEO and Managing Member of SAGE Capital Investments and Chairman at Talos Energy, brings extensive experience in strategic planning, financial management, and corporate turnaround consulting.

Goldman's background includes leadership roles at notable firms, including serving as Managing Director at Och Ziff Capital Management and Founding Partner at Brigade Capital Management, where he helped grow assets under management to over $12 billion. The appointment comes at a important time as iRobot executes its Elevate strategy to reclaim its position as a global innovation leader in consumer robots.

iRobot (NASDAQ: IRBT) has reported its Q4 and full-year 2024 financial results, highlighting progress on its 'iRobot Elevate' turnaround strategy. The company has implemented significant operational restructuring, reducing headcount by over 50% to 541 employees and decreasing inventory from $152.5M to $76.0M year-over-year.

Q4 2024 saw revenue declines across major markets: 47% in the U.S., 34% in Japan, and 44% in EMEA. The company's cash position stood at $134.3M as of December 28, 2024. iRobot announced its largest product launch in history, introducing new Roomba series models available from March 18, 2025.

Notably, the Board of Directors has initiated a strategic review to evaluate alternatives, including potential refinancing or sale. The company's 10-K filing will indicate substantial doubt about its ability to continue as a going concern for the next 12 months.

iRobot (NASDAQ: IRBT) has announced its largest product launch ever with a new suite of Roomba® floor cleaning robots. The launch, set for March 18, 2025, introduces multiple series including the Roomba® 105 Vac Robot with 70x more suction power, Roomba® 205 DustCompactor™ series, and premium Plus 405 and 505 Combo Robots with AutoWash™ Docks.

Key innovations include ClearView™ Lidar Navigation, PrecisionVision™ AI Technology, automatic carpet detection, and the DustCompactor™ system that stores debris for months. The Plus 505 model features PerfectEdge® Technology for corner cleaning and a self-maintaining dock system.

The products will be available in North America and select European markets, accompanied by a new marketing campaign 'Roomba. Made for This' across TV, digital, and social media platforms. Retail distribution begins March 23, 2025.

iRobot Corp. (NASDAQ: IRBT) has announced its upcoming fourth-quarter and full-year 2024 financial results conference call, scheduled for Wednesday, March 12, at 8:30 a.m. ET. The company will release its earnings report and supplemental financial information prior to the call.

Investors and interested parties can access the live conference call via telephone at 1-800-245-3047 (alternate number: 1-203-518-9765) using the conference ID IRBTQ424. Additionally, a live webcast will be available on the company's investor relations website at investor.irobot.com/financial-information/quarterly-results, with an archived version accessible shortly after the event concludes.

iRobot (NASDAQ: IRBT) has released preliminary Q4 2024 financial results, expecting revenue of approximately $171 million, with a GAAP operating loss of around ($59) million and non-GAAP operating loss of ($47) million. The company reports cash and cash equivalents of approximately $134 million at fiscal year-end 2024.

The results were impacted by higher seasonal promotional spending and an $8 million non-recurring charge related to excess inventory write-off and losses on non-cancelable purchase commitments. CEO Gary Cohen highlighted the company's fundamental changes in robot innovation, development, and manufacturing processes.

Looking ahead to 2025, iRobot anticipates returning to year-over-year growth with new product launches, expecting stronger performance in the second half. The company projects enhanced margins and improved profitability, though Q1 2025 will remain transitional. The company exceeded its 2024 operating expense restructuring targets while maintaining investment in growth areas.

iRobot Corp. (NASDAQ: IRBT) has appointed Kevin Lanouette as Senior Vice President and General Counsel, effective January 17, 2025. He succeeds Tonya Drake, who will transition to an advisory role until March 7, 2025. Lanouette joins from OutsideGC, a Boston-based law firm, where he was a Partner specializing in strategic legal counsel across technology, software, and healthcare sectors.

Prior to OutsideGC, Lanouette served as Assistant General Counsel at Analog Devices from 2006 to 2020, where he managed corporate, SEC, securities matters, IP licensing, M&A, and compliance issues. CEO Gary Cohen emphasized Lanouette's experience in complex corporate matters as valuable for executing strategic initiatives and achieving profitable growth. Lanouette holds degrees from the University of Maine and Harvard Law School.

iRobot (NASDAQ: IRBT) has announced an equity award as an employment inducement for its newly appointed Senior Vice President and Chief Human Resources Officer, Jules Connelly. The award consists of 120,000 time-based restricted stock units (RSUs), granted on December 6, 2024. The RSUs will vest over three years, contingent on Connelly's continued employment. This inducement award was approved by iRobot's Board of Directors on November 4, 2024, in compliance with Nasdaq Rule 5635(c)(4), and was granted outside the company's regular equity incentive plan.

iRobot (NASDAQ: IRBT) has announced its management team's participation in three upcoming investor conferences. The company will present at the Raymond James TMT and Consumer Conference in New York on December 9, 2024, at 3:00 p.m. ET, the ICR Conference 2025 in Orlando on January 13, 2025, at 2:30 p.m. ET, and the 27th Annual Needham Growth Conference in New York on January 15, 2025, at 8:45 a.m. ET.

CEO Gary Cohen and CFO Karian Wong will be available for one-on-one meetings with investors during these events. Live webcasts will be accessible on iRobot's investor relations website, with archived versions available post-event.