iRobot, the company behind the Roomba brand of robotic vacuum cleaners, has reported a revenue of $172 million in the fourth quarter of 2024, a significant decrease of nearly half (47%) from the previous quarter where they earned $307.5 million. With a loss of $61 million, the company is facing financial challenges.
Of concern is iRobot’s cash on hand, which is at $134.3 million. While this has increased from the third quarter of 2024, the company is still planning to launch four new models of robotic vacuum cleaners in North America and Europe. However, their financial report acknowledges substantial doubt about the business’s ability to continue for the next 12 months.
At the beginning of 2024, Amazon’s failed acquisition of iRobot led to a 31% workforce reduction and further financial instability. The company is exploring strategic alternatives, such as selling the business or finding new shareholders, but no decisions have been disclosed at this time.
TLDR: iRobot’s revenue dropped significantly in the fourth quarter of 2024, leading to financial challenges and uncertainty about the company’s future.
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