IRBT
iRobot Corporation
Q3 2024 Report
iRobot Corporation (IRBT) Financial Results Report for Q3 2024: Charting the Path to Recovery...
Read full report
Executive Summary
In a challenging third quarter for 2023, iRobot Corporation reported revenues of $186.2 million, representing a decline of 33.1% year-over-year (YoY) and a further drop of 21.3% quarter-over-quarter (QoQ). The company continued to face supply chain pressures, which impacted its ability to deliver products effectively and serve customer demand. As a consequence, iRobot posted a net loss of $79.2 million, marking a substantial shift in profitability towards negative net margins of approximately -42.5%. Furthermore, management remains optimistic about future product innovations and strategic initiatives that could bolster sales; however, the path to recovery appears precarious given current operational challenges and market dynamics.
Key Performance Indicators
Revenue
186.18M
QoQ: -21.30% | YoY:-33.08%
Gross Profit
48.01M
25.79% margin
QoQ: -10.26% | YoY:-37.16%
Operating Income
-59.49M
QoQ: 16.27% | YoY:12.98%
Net Income
-79.21M
QoQ: 1.97% | YoY:38.30%
EPS
-2.86
QoQ: 2.39% | YoY:39.28%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue:** $186.18 million - **YoY Change:** -33.1% - **QoQ Change:** -21.3%
- **Gross Profit:** $48.01 million - **Gross Profit Margin:** 25.79%
- **Operating Income:** -$59.50 million - **Operating Income Margin:** -31.96%
- **Net Income:** -$79.20 million - **Net Income Margin:** -42.54%
- **EPS:** -$2.86