iRobot reported Q2 2024 revenue of $166.4M, down 30% from $236.6M in Q2 2023, with net loss widening to $70.6M. The results were impacted by challenging consumer spending, heightened competition, and an $18.4M manufacturing transition charge. Gross margin declined to 16.5% from 22.6% year-over-year.The company has made significant progress in its restructuring efforts, reducing headcount by 35% since end-2023, cutting inventory by 41% YoY to $101.4M, and strengthening its balance sheet. Cash and equivalents stood at $108.5M, with an additional $40.5M in restricted cash. The company launched new products including the Roomba Combo 10 Max robot with AutoWash Dock.For fiscal 2024, iRobot revised its outlook downward, now expecting revenue of $765-800M and GAAP operating loss of $56-42M. The company projects modest positive cash flow from operations in H2 2024 and plans significant technological enhancements across its product line in 2025.

iRobot reported Q2 2024 revenue of $166.4M, down 30% from $236.6M in Q2 2023, with net loss widening to $70.6M. The results were impacted by challenging consumer spending, heightened competition, and an $18.4M manufacturing transition charge. Gross margin declined to 16.5% from 22.6% year-over-year.The company has made significant progress in its restructuring efforts, reducing headcount by 35% since end-2023, cutting inventory by 41% YoY to $101.4M, and strengthening its balance sheet. Cash and equivalents stood at $108.5M, with an additional $40.5M in restricted cash. The company launched new products including the Roomba Combo 10 Max robot with AutoWash Dock.For fiscal 2024, iRobot revised its outlook downward, now expecting revenue of $765-800M and GAAP operating loss of $56-42M. The company projects modest positive cash flow from operations in H2 2024 and plans significant technological enhancements across its product line in 2025.