Irobot Stock Price, News & Analysis

iRobot Corp. (NASDAQ: IRBT) reported a third-quarter 2022 revenue of $278.2 million, down 37% year-over-year, attributed to decreased orders amid inventory adjustments by retailers. Revenue from the first nine months of 2022 totaled $825.5 million, compared to $1,109.5 million in 2021. The company faced a GAAP operating loss of $68.4 million versus a profit of $40.5 million in Q3 2021. Inventory levels increased to $419 million, indicating potential sales challenges ahead. Despite these challenges, iRobot's Roomba Combo™ j7+ was well-received and it anticipates restructuring savings of $30 million in 2023.

iRobot Corp. (NASDAQ: IRBT) announced on October 11, 2022, that Administrative Law Judge Maryann McNamara ruled in its favor in a patent infringement case against SharkNinja at the ITC. The ruling suggests a limited exclusion order to bar imports of infringing SharkNinja robotic cleaning products. The final determination by ITC Commissioners is expected by February 2023. CEO Colin Angle highlighted the ruling as validation of iRobot's patent strength. This is iRobot's second exclusion order against SharkNinja, with a related district court case still pending.

iRobot Corp has launched the Roomba Combo™ j7+, the first truly hands-free 2-in-1 vacuum and mop, designed to prevent wet carpet messes. This innovative robot utilizes a fully retractable mop pad, allowing simultaneous vacuuming and mopping in one go. Powered by iRobot OS 5.0, the device enhances cleaning capabilities with advanced object recognition and voice command features. Priced at $1,099, the Roomba Combo j7+ is available for pre-sale in North America from September 27, with shipments beginning on October 4.

iRobot Corp. (NASDAQ: IRBT) reported a revenue decline to $255.4 million in Q2 2022, down from $365.6 million in Q2 2021, primarily due to unexpected order reductions and cancellations from retailers. The company posted a GAAP operating loss of $63.9 million and a GAAP net loss per share of $1.60. In a separate announcement, iRobot confirmed its acquisition by Amazon.com, Inc. (NASDAQ: AMZN) for $61.00 per share, valuing the deal at approximately $1.7 billion. iRobot plans restructuring actions expected to yield $5 million to $10 million in savings for 2022.

Amazon (NASDAQ:AMZN) has announced a definitive merger agreement to acquire iRobot (NASDAQ:IRBT) for $61 per share, totaling approximately $1.7 billion, including net debt. The acquisition is pending shareholder and regulatory approval, with iRobot's CEO Colin Angle remaining post-acquisition. This merger aims to enhance Amazon's product offerings in smart home innovations, capitalizing on iRobot's expertise in robotic cleaning solutions that have gained customer loyalty since the launch of Roomba in 2002.

Amazon announced a definitive merger agreement to acquire iRobot for $61 per share, valuing the deal at approximately $1.7 billion. iRobot, known for its innovative cleaning products like the Roomba, aims to enhance customer experiences through this partnership. Both companies emphasize their shared commitment to innovation and customer satisfaction. The transaction awaits approval from iRobot's shareholders and regulatory clearance. Colin Angle will continue as CEO post-acquisition.

iRobot Corp. (NASDAQ: IRBT) will release its second-quarter 2022 financial results after market close on August 9, 2022. A live webcast and conference call is scheduled for August 10 at 8:30 a.m. ET to discuss the results and company outlook. Interested investors can join via the company’s IR website. Following the call, an archived version will be available for replay. iRobot is a leader in consumer robotics, known for its Roomba vacuum and various smart home innovations.

iRobot Corp. (NASDAQ: IRBT) will participate in the Bank of America 2022 Global Technology Conference on June 8, 2022, at 3:45 p.m. ET. Key executives, including Julie Zeiler, CFO, and Andrew Kramer, VP of Investor Relations, will represent the company. This event highlights iRobot's leadership in consumer robotics, known for creating the Roomba vacuum and selling over 40 million robots globally. For more details, visit the event link: iRobot Event Details.

iRobot Corp. (NASDAQ: IRBT) has launched iRobot OS, an advanced version of its Genius Home Intelligence platform. This new operating system enhances the user experience, enabling over 2.7 million cleaning missions daily worldwide from a growing base of 20 million connected devices. iRobot OS features enhanced voice command recognition with approximately 600 commands and is specifically designed for pet owners, with unique capabilities to identify and avoid obstacles, including solid pet waste. The Roomba j7 Series has become the top-selling robot in the US and Japan since its launch in September 2021.