Revenue Performance: In Q1 2024, iRobot generated $150 million in revenue, marking a 6% decline from the previous year and a significant 50% decrease sequentially. The downturn in Japan was notable, with a reported 16% reduction attributed to currency challenges, a situation exacerbated by a 34-year low for the yen.
Gross Margin: The company's gross margin improved slightly to 24.6%, up from 23.7% in Q1 2023, aided by improved cost efficiencies.
Operating Income: iRobot reported an operating loss of $40 million, an improvement from a $62 million loss in Q1 2023, indicating positive effects from cost-cutting measures.
Net Income: The net income for the quarter was $8.6 million, translating to an EPS of $0.31, compared to a significant net loss in the previous period.
Cash Flow: The company achieved narrow operating cash flow of $1.4 million, influenced by one-time proceeds from an Amazon termination fee. However, cash reserves decreased to $118 million.