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Irobot, the company behind the vacuum cleaners of Roomba, issued a warning of “substantial doubt” on the future of the company.
On Wednesday, the company reported “a substantial doubt about the company’s ability to continue as a continuous concern for a period of at least 12 months from the date of the issue of its consolidated financial statements in 2024” because it published its annual financial results.
Irobot generated $ 681.0 million in revenue during the year 2024, a drop of more than 23% compared to the previous year. Its annual net loss was $ 145.5 million.
Irosive of vacuum cleaners seen in a target superstore. (Alex Tai / Sopa Images / Lightrocket via Getty Images / Getty Images)
Earlier in the week, he had revealed a multitude of New robot vacuum cleaners which should arrive on the market from March 18, including the Robot Roomba 205 Dustcomompactor Vac, the Robot Roomba 205 Dustcomompactor and others.
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“Nothing guarantees that the launching of new products will succeed due to potential factors, including, but without limiting itself, consumer demand, competition, macroeconomic conditions and pricing policies,” said Irobot, giving a “substantial” warning.
The company based in Massachusetts experienced “aggressive competition” in the EMEA, Japan and the United States in 2024, according to its annual report.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| Irbt | Irobot Corp. | 3.06 | -1.00 |
-24.75% |
The company also revealed on Wednesday that a credit agreement it had had been changed for a few years. This decision involves including $ 3.6 million fees, according to a dry file.
At the beginning of last year, the manufacturer of Roomba launched an “operational restructuring” which, according to her, would help “to position the company for stabilization in the current environment, while focusing on profitability and by making the main growth initiatives progress to extend its market share in the level of level and premium segments”. Irobot unveiled this initiative shortly after and Amazon agreed to cancel a purchase project of the Crosscha manufacturer by the electronic commerce giant.
Amazon puts an end to the acquisition of Irobot due to regulatory obstacles
The agreement had faced the obstacles of European antitrust regulators.
IROBOT said on Wednesday that he had reduced his marketing costs and made its products Less expensive, among other measures, in the context of restructuring. These efforts helped him see a “significant” decrease in operating expenses from one year to the next in 2024, according to the company.
Robot Robot vacuum cleaners manufactured by Irobot are displayed on a shelf in a bed bath and beyond the store in Larkspur, California, August 5, 2022. (Justin Sullivan / Getty Images / Getty Images)
The company said that it had started to study a “wide range of alternatives” for its activities thanks to a “formal strategic journal”. Refinancing of debt And the transactions were among the measures it mentioned that it evaluated.
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However, Irobot noted that his board of directors “did not put a calendar for the conclusion of this examination, and nothing guarantees that the exploration of strategic alternatives will lead to agreements or transactions”.
The company has been working since 1990. Its very first Sorba Vacuum made its debut in 2002.
