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iRobot | 8-K: Current report

SEC announcement ·  Mar 12 04:40
Summary by Futu AI
On March 11, 2024, iRobot Corporation, a leader in consumer robots, released its financial expectations for Q1 2024 and reaffirmed its full-year outlook for 2024. The company anticipates Q1 revenue between $137 to $142 million with a gross margin of 22% to 23%, and an operating income ranging from $7 to $11 million. The non-GAAP adjustments are expected to result in a net loss per share of ($2.13) to ($2.00). For the full year, iRobot expects revenue of $825 to $865 million and a gross margin of 31% to 33%. The operating loss is projected to be between ($41) to ($29) million, with a net loss per share of ($3.13) to ($2.70) on a GAAP basis and ($3.73) to ($3.30) on a non-GAAP basis. The company predicts a decline in revenue in the first half of 2024 compared to the first half of 2023, with a mid-single-digit percentage revenue improvement in the second half of the year. The press release also included a cautionary statement regarding forward-looking statements and detailed explanations of the non-GAAP financial measures.
On March 11, 2024, iRobot Corporation, a leader in consumer robots, released its financial expectations for Q1 2024 and reaffirmed its full-year outlook for 2024. The company anticipates Q1 revenue between $137 to $142 million with a gross margin of 22% to 23%, and an operating income ranging from $7 to $11 million. The non-GAAP adjustments are expected to result in a net loss per share of ($2.13) to ($2.00). For the full year, iRobot expects revenue of $825 to $865 million and a gross margin of 31% to 33%. The operating loss is projected to be between ($41) to ($29) million, with a net loss per share of ($3.13) to ($2.70) on a GAAP basis and ($3.73) to ($3.30) on a non-GAAP basis. The company predicts a decline in revenue in the first half of 2024 compared to the first half of 2023, with a mid-single-digit percentage revenue improvement in the second half of the year. The press release also included a cautionary statement regarding forward-looking statements and detailed explanations of the non-GAAP financial measures.
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