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Jul 02, 2022
iRobot Q2 2022 Earnings Report
iRobot's financial performance declined due to unanticipated order reductions and delays from retailers, as well as lower DTC sales and foreign exchange impacts. The company announced a definitive agreement to be acquired by Amazon.
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.
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iRobot has withdrawn its prior 2022 financial expectations and long-term financial targets due to the pending acquisition by Amazon and ongoing disruptions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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