Irobot Stock Price, News & Analysis

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.

iRobot Corp (NASDAQ: IRBT) announced key executive transitions, with CFO Julie Zeiler and CHRO Russ Campanello set to retire effective December 2, 2024. Karian Wong, current SVP and principal accounting officer, will succeed as CFO, while Jules Connelly will become the new CHRO. Both retiring executives will remain in advisory roles through March 28, 2025. Wong brings over 25 years of auditing and accounting experience, including seven years at iRobot, while Connelly, who joined in 2017, has extensive experience in HR processes and employee engagement. The transitions align with the company's Elevate turnaround strategy aimed at reclaiming iRobot's position as a global innovation leader in consumer robots.

iRobot (NASDAQ: IRBT) reported Q3 2024 financial results with revenue of $193.4 million, up from $186.2 million in Q3 2023. The company achieved GAAP gross margin of 32.2% and non-GAAP gross margin of 32.4%, representing a 590-basis-point improvement year-over-year. Despite progress in margin expansion and operating expense reduction, including a 41% headcount reduction since 2023, the company faced persistent market and competitive challenges. U.S. revenue increased 23%, while Japan and EMEA declined 20% and 11% respectively. The company revised its full-year 2024 outlook, projecting revenue between $685-$710 million and expects to improve profitability in 2025.

iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, has announced its upcoming third-quarter 2024 earnings conference call scheduled for Wednesday, November 6, 2024, at 8:30 a.m. ET. The company will release its financial results and supplemental financial information prior to the call.

Investors and interested parties can access the conference call via phone at 1-800-274-8461 (alternate: 1-203-518-9814) using the Conference ID: IRBTQ324. Additionally, a live webcast of the call will be available on the company's investor relations website.

The earnings press release will be posted on iRobot's investor relations website at https://investor.irobot.com/news-releases. An archived version of the broadcast will be made available shortly after the live event concludes.

iRobot Corp. (NASDAQ: IRBT) has launched the Roomba Combo® 2 Essential and Roomba® Vac 2 Essential robots in North America. These new models, priced at $424.99 and $399.99 respectively, offer 2x cleaning power compared to the original Essential series and feature an AutoEmpty™ dock for hands-free cleaning for up to 60 days.

The Roomba Combo 2 Essential includes a 4-Stage Cleaning System with stronger suction, multiple brushes, and a microfiber mop pad. It offers four suction levels and three mopping water levels. Both models have enhanced navigation, can recharge and resume cleaning, and are compatible with the iRobot Home App and voice assistants.

The robots are powered by iRobot OS, offering features like Clean While I'm Away and Clean Map® Reports. The AutoEmpty dock uses sealed bags that can capture particles as small as 0.7 microns.

iRobot Corp. (NASDAQ: IRBT) has announced the granting of equity awards to its newly-hired President and Chief Operating Officer, Jeff Engel, as a material inducement to his employment. The awards, approved by iRobot's Board of Directors on September 6, 2024, consist of:

188,955 time-based restricted stock units (RSUs) vesting over a three-year period, subject to continuous employment.

181,545 performance-based restricted stock units (PSUs) vesting in three tranches over a four-year performance period, based on continuous employment and achievement of iRobot's common stock price milestones.

These inducement awards were granted outside iRobot's equity incentive plan, in accordance with Nasdaq Listing Rule 5635(c)(4).

iRobot Corp. (NASDAQ: IRBT) has appointed Michael J. Loparco to its board of directors. Loparco brings over 25 years of experience in consumer product innovation, manufacturing, global supply chain, and robotics. He recently served as CEO of Symbotic, leading its successful IPO, and previously held key positions at Jabil Inc., including CEO of the Electronics Manufacturing Services segment. Loparco's expertise spans smart home appliances, consumer electronics, and complex supply chain management across 25 countries. His familiarity with iRobot's product portfolio and extensive leadership experience in technology and manufacturing are expected to be valuable assets as the company pursues its transformation and strategic initiatives.