iRobot Corp
NASDAQ:IRBT
iRobot Corp
iRobot Corp. is a robot company, which engages in designing and building robots. The company is headquartered in Bedford, Massachusetts and currently employs 1,372 full-time employees. The company went IPO on 2005-11-09. The firm designs, builds, sells and supports durable robots through the close integration of software, electronics and hardware. Its portfolio of home robots and smart home devices features technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. Its products include Roomba, Braava, H1 Handheld Vacuum, Aeris Air Purifiers, Root and iRobot Create 2. The company offers the Braava family of automatic floor mopping robots, which is designed for hard-surface floors. The company also provides ongoing customer service and support through the iRobot HOME App. The firm's consumer robots are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through the Company's own Website and application, dedicated e-commerce Websites, and through distributors and resellers worldwide.
iRobot Corp. is a robot company, which engages in designing and building robots. The company is headquartered in Bedford, Massachusetts and currently employs 1,372 full-time employees. The company went IPO on 2005-11-09. The firm designs, builds, sells and supports durable robots through the close integration of software, electronics and hardware. Its portfolio of home robots and smart home devices features technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. Its products include Roomba, Braava, H1 Handheld Vacuum, Aeris Air Purifiers, Root and iRobot Create 2. The company offers the Braava family of automatic floor mopping robots, which is designed for hard-surface floors. The company also provides ongoing customer service and support through the iRobot HOME App. The firm's consumer robots are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through the Company's own Website and application, dedicated e-commerce Websites, and through distributors and resellers worldwide.
Revenue: Q3 revenue increased to $193.4 million, up from $186.2 million last year, but overall results missed the company’s prior expectations due to ongoing market and competitive headwinds.
Margins: Gross margin expanded to 32.4% from 26.5% a year ago, reflecting successful cost reductions and favorable product mix.
Restructuring: Operating expenses dropped 47% year-over-year, helped by workforce reductions (now cut by roughly 50% in 2024) and disciplined spending, including a onetime $13.5 million IP settlement benefit.
Guidance Cut: Full-year outlook was lowered, with revenue now expected between $685 million and $710 million, and gross margin of 25% to 26%.
2025 Outlook: Management expects a return to year-over-year revenue growth in 2025, especially in the second half as new margin-accretive products ramp up.
Leadership Changes: CFO Julie Zeiler and CHRO Russ Campanello will retire; their successors are internal appointments.
Product Pipeline: Multiple new and refreshed products launched or planned, all expected to support improved margins and growth.
