Reported Q: Q1 2024 Rev YoY: -6.4% EPS YoY: +110.5% Move: +0.00%
iRobot Corporation
IRBT
$0.0540 0.00%
Exchange NASDAQ Sector Consumer Cyclical Industry Furnishings Fixtures Appliances
Q1 2024
Published: May 8, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for IRBT

Reported

Report Date

May 8, 2024

Quarter Q1 2024

Revenue

150.01M

YoY: -6.4%

EPS

0.30

YoY: +110.5%

Market Move

+0.00%

Previous quarter: Q4 2023

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Earnings Highlights

  • Revenue of $150.01M down 6.4% year-over-year
  • EPS of $0.30 increased by 110.5% from previous year
  • Gross margin of 24.1%
  • Net income of 8.61M
  • "'We will continue to look at opportunities to drive for that modest return to profitability and modest positive cash flow in both Q3 and Q4.' - Julie Zeiler" - Julie Zeiler
IRBT
iRobot Corporation

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Executive Summary

iRobot Corporation's Q1 2024 results reflect a strategic response to ongoing market challenges, including aggressive competition and shifts in consumer spending patterns. The company reported revenues of $150 million, a 6% year-over-year decline, driven primarily by a 16% drop in revenue from Japan due to unfavorable currency fluctuations. Amidst these pressures, iRobot is implementing a robust restructuring plan to enhance operational efficiency and reduce costs, positively impacting gross margins which improved to 24.6%. Following the appointment of Gary Cohen as the new CEO, the company is poised for a turnaround with a clear focus on innovation and core product segments. Investors should keep an eye on cash flow management and liquidity improvements as iRobot implements these significant operational changes.

Key Performance Indicators

Revenue
Decreasing
150.01M
QoQ: -49.56% | YoY: -6.41%
Gross Profit
Decreasing
36.10M
24.10% margin
QoQ: -28.72% | YoY: -1.23%
Operating Income
Increasing
11.90M
QoQ: 116.82% | YoY: 114.64%
Net Income
Increasing
8.61M
QoQ: 113.53% | YoY: 110.61%
EPS
Increasing
0.31
QoQ: 113.60% | YoY: 110.51%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q3 2024 193.44 -0.21 +3.9% View
Q2 2024 166.36 -2.41 -29.7% View
Q1 2024 150.01 0.30 -6.4% View
Q4 2023 297.42 -2.28 -16.9% View
Q3 2023 186.18 -2.86 -33.1% View