IRBT
iRobot Corporation
Q3 2024 Report
iRobot Corporation (IRBT) Financial Results Report for Q3 2024: Charting the Path to Recovery...
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Executive Summary
In Q4 2023, iRobot Corporation reported a revenue of $308 million, reflecting a decline of 14% year-over-year. This downturn is attributed to sluggish consumer demand and increased competition across regions, notably a 20% drop in U.S. revenues. The company maintained a gross margin of 19%, though down 5 percentage points from the previous year, primarily due to price reductions and increased promotional costs. iRobot's management, during the earnings call, underlined their commitment to a restructuring plan aimed at stabilizing operations and sustaining innovation, projecting gross margin improvements to between 32% and 34% for fiscal 2024. Despite a challenging market landscape, the company's strategic pivots and focus on cost efficiency position it for potential recovery moving forward.
Key Performance Indicators
Revenue
297.42M
QoQ: 59.75% | YoY:-16.89%
Gross Profit
50.65M
17.03% margin
QoQ: 5.49% | YoY:-40.57%
Operating Income
-70.76M
QoQ: -18.94% | YoY:16.57%
Net Income
-63.59M
QoQ: 19.71% | YoY:24.38%
EPS
-2.28
QoQ: 20.28% | YoY:25.73%
Revenue Trend
Margin Analysis
Key Insights
Revenue: $308M (down 14% YoY), Gross Margin: 19% (down 5% YoY), Operating Income: -$45M, Net Income: -$63.59M. For full year 2023, revenue amounted to $891M (down 25%), with a net loss per share of $7.73. Key ratios as of Q4 2023 include Current Ratio: 1.621, Quick Ratio: 1.090, EBITDA Margin: -14.78%....