iRobot Q2 2022 Earnings Report
Key Takeaways
iRobot reported a decrease in revenue for the second quarter of 2022, alongside a significant GAAP operating loss. The company is undergoing restructuring to better align its cost structure with near-term revenue expectations. iRobot has entered into a definitive agreement to be acquired by Amazon.
Second-quarter revenue was $255.4 million, down from $365.6 million in the same period last year.
GAAP operating loss was $63.9 million, compared to a $3.0 million loss in the second quarter of 2021.
GAAP net loss per share was $1.60, versus a net loss per share of $0.10 in the prior year's quarter.
iRobot is being acquired by Amazon for $61.00 per share in cash, valuing the transaction at approximately $1.7 billion.
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iRobot Revenue by Geographic Location
Forward Guidance
iRobot has withdrawn its prior 2022 financial expectations and long-term financial targets due to the pending acquisition by Amazon and ongoing disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income