iRobot reported Q2 2024 revenue of $166.4 million, down 29.7% YoY, with net loss widening to $70.6 million from $80.8 million last year. Gross margin declined to 16.5% from 22.6%, impacted by $18.4 million in inventory and purchase commitment charges. The company's operating loss was $61.1 million compared to $71.1 million in Q2 2023.Following the termination of its merger agreement with Amazon in January 2024, iRobot received a $94 million termination fee and launched a comprehensive restructuring plan. The plan includes reducing workforce by 31%, scaling back non-core activities, and transitioning to a new contract manufacturing model. Operating expenses decreased by $55 million or 23% in H1 2024 compared to prior year, excluding one-time benefits.The company is executing its "iRobot Elevate" strategy focused on improving financial performance and brand positioning while launching innovative products. Cash and equivalents stood at $108.5 million, with an additional $41.9 million in restricted cash. Management continues to manage inventory levels, which decreased by $51.1 million to $101.4 million from year-end 2023, as part of efforts to align with current business conditions.

iRobot reported Q2 2024 revenue of $166.4 million, down 29.7% YoY, with net loss widening to $70.6 million from $80.8 million last year. Gross margin declined to 16.5% from 22.6%, impacted by $18.4 million in inventory and purchase commitment charges. The company's operating loss was $61.1 million compared to $71.1 million in Q2 2023.Following the termination of its merger agreement with Amazon in January 2024, iRobot received a $94 million termination fee and launched a comprehensive restructuring plan. The plan includes reducing workforce by 31%, scaling back non-core activities, and transitioning to a new contract manufacturing model. Operating expenses decreased by $55 million or 23% in H1 2024 compared to prior year, excluding one-time benefits.The company is executing its "iRobot Elevate" strategy focused on improving financial performance and brand positioning while launching innovative products. Cash and equivalents stood at $108.5 million, with an additional $41.9 million in restricted cash. Management continues to manage inventory levels, which decreased by $51.1 million to $101.4 million from year-end 2023, as part of efforts to align with current business conditions.