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Jul 03, 2021
iRobot Q2 2021 Earnings Report
Second-Quarter Revenue Grew 31% Despite Supply Chain Challenges; Company Updated Full-Year 2021 Outlook Due to Semiconductor Chip Shortage; Company Announced Plans to Execute a $100 million Accelerated Share Repurchase
Key Takeaways
iRobot Corp. announced its financial results for the second quarter ended July 3, 2021. Revenue for the second quarter of 2021 was $365.6 million, an increase of 31% from $279.9 million in the second quarter of 2020. The company's second-quarter 2021 GAAP operating loss was $3.0 million, compared with GAAP operating income of $70.3 million in the second quarter of 2020.
Revenue for the second quarter of 2021 was $365.6 million, an increase of 31% from $279.9 million in the second quarter of 2020.
The company’s second-quarter 2021 GAAP operating loss was $3.0 million, compared with GAAP operating income of $70.3 million in the second quarter of 2020.
iRobot’s GAAP net loss per share was $0.10 for the second quarter of 2021, compared with GAAP net income per share of $2.07 in the second quarter of 2020.
As of July 3, 2021, the company’s cash, cash equivalents and short-term investments were $415.8 million
Revenue by Geographic Location
Forward Guidance
iRobot has updated its full-year 2021 GAAP and non-GAAP financial expectations, all of which were most recently provided on May 3, 2021. The updated outlook reflects the company’s results to date and anticipated performance during the second half of the year as well as the impact of an anticipated tariff exclusion and anticipated share repurchase activities.
Positive Outlook
- Revenue: $1.55 - $1.62 billion
- Gross Profit: $609 - $642 million
- Non-GAAP Gross Profit: $612 - $645 million
- Non-GAAP Operating Income: $80 - $110 million
- Non-GAAP Net Income Per Diluted Share: $2.25 - $3.15
Historical Earnings Impact
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Avg. Return Before/After Earnings
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