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Apr 01, 2023
iRobot Q1 2023 Earnings Report
iRobot's financial performance declined due to muted orders and lower gross profit margin.
Key Takeaways
iRobot reported a significant decrease in revenue for Q1 2023 compared to the same period last year, with notable declines across all geographic regions. The company experienced a GAAP operating loss and a decrease in cash and cash equivalents. Despite cost reduction efforts, the company's financial results were impacted by decreased revenue and a lower gross profit margin.
Revenue for Q1 2023 was $160.3 million, a decrease from $292.0 million in the same period last year.
GAAP operating loss for Q1 2023 was ($81.3) million, compared to ($23.3) million in the same period last year.
GAAP net loss per share for Q1 2023 was ($2.95), compared to ($1.12) in the same period last year.
Cash and cash equivalents were $47.9 million as of April 1, 2023, compared to $117.9 million at the end of 2022.
Revenue by Geographic Location
Forward Guidance
iRobot will not hold a financial results conference call, and its practice of providing full-year financial guidance remains suspended due to the pending transaction with Amazon.com, Inc.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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