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iRobot Q1 2025 Earnings Report
iRobot reported its financial results for the first quarter ended March 29, 2025, showing a decrease in revenue and a net loss, while continuing its turnaround strategy and new product launches.
Key Takeaways
iRobot Corp. announced its financial results for the first quarter ended March 29, 2025, reporting a revenue of $101.6 million, a significant decrease from $150.0 million in the prior-year period. The company posted a net loss of $87.3 million, or $2.84 per diluted share, compared to a net income of $8.6 million, or $0.30 per diluted share, in Q1 2024. Despite the financial downturn, iRobot continued its 'iRobot Elevate' turnaround strategy, initiated its largest new product launch, and achieved a significant reduction in operating expenses and production costs.
Revenue for Q1 2025 was $101.6 million, a decrease from $150.0 million in Q1 2024.
The company reported a GAAP net loss of $87.3 million ($2.84 per diluted share) and a Non-GAAP net loss of $60.0 million ($1.95 per diluted share).
iRobot continued its 'iRobot Elevate' turnaround strategy and initiated its largest new product launch in its history.
The company achieved a significant reduction in operating expenses and production costs by transforming its R&D and supply chain model.
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iRobot Revenue by Segment
iRobot Revenue by Geographic Location
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CapyFin.com2-in-1 Revenue
CapyFin.comRevenue by Geographic Location
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CapyFin.com Forward Guidance
iRobot expects to see solid sales traction later in 2025, supporting year-over-year revenue growth, gross-margin expansion, and improved cash flow from operations. The company is not providing a 2025 outlook at this time due to an ongoing strategic review.
Positive Outlook
- Expects to see an uptick in sales later in the year as availability of new Roomba® vacuums and 2-in-1 vacuums and mops expands.
- Anticipates solid sales traction later this year to support year-over-year revenue growth in 2025.
- Remains on track to deliver gross-margin expansion this year.
- Remains on track to deliver improved cash flow from operations this year.
- New products and lower overall cost structure are expected to drive improved profitability over the long term.
Challenges Ahead
- The company is not providing a 2025 outlook at this time due to the ongoing strategic review.
- The Board has not set a timetable for the conclusion of the strategic review, and there is no assurance that it will result in any transactions or outcomes.
- The company does not intend to disclose developments relating to the strategic review process until further disclosure is appropriate or necessary.
- Q1 2025 revenue was impacted by additional promotional spending to stimulate sell-through of legacy products.
- Ongoing competitive challenges are impacting revenue, which the company is addressing with new product launches.
Revenue & Expenses
Visualization of income flow from segment revenue to net income