iRobot Shares Drop on Weak Preliminary 4Q Results

Dow Jones

Jan 13

By Dean Seal

Shares of iRobot fell after the company said preliminary results for fourth-quarter revenue were looking lower than anticipated.

The stock was down 13% at $9.09 in premarket trading Monday. Shares were trading at $29.98 this time a year ago.

The Roomba maker said it expects to post $171 million in revenue for the fourth quarter, down from $307.5 million in the same quarter a year earlier and below analyst projections for $187.8 million, according to FactSet.

The company also is guiding for an operating loss of $59 million, or a loss of $47 million when adjusted for one-time items.

Chief Executive Gary Cohen said the results reflect higher-than-expected spending on seasonal promotions to offload some inventory prior to new product launches this year. iRobot also incurred a non-recurring $8 million charge to write off excess component inventory and losses on non-cancelable purchase commitments.

The company said it expects to return to revenue growth in 2025, with a stronger second half of the year as its product lineup ramps up.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 13, 2025 09:10 ET (14:10 GMT)

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Shares were trading at $29.98 this time a year ago. \n\n\n  The Roomba maker said it expects to post $171 million in revenue for the fourth quarter, down from $307.5 million in the same quarter a year earlier and below analyst projections for $187.8 million, according to FactSet. \n\n\n  The company also is guiding for an operating loss of $59 million, or a loss of $47 million when adjusted for one-time items. \n\n\n  Chief Executive Gary Cohen said the results reflect higher-than-expected spending on seasonal promotions to offload some inventory prior to new product launches this year. iRobot also incurred a non-recurring $8 million charge to write off excess component inventory and losses on non-cancelable purchase commitments. \n\n\n  The company said it expects to return to revenue growth in 2025, with a stronger second half of the year as its product lineup ramps up. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 13, 2025 09:10 ET (14:10 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}