Massachusetts-based iRobot said successful its fourth-quarter and full-year 2024 financial results connected Wednesday that location is "substantial doubt" concerning the company's "ability to continue" aft profits fell 44% successful the 4th quarter compared to a twelvemonth earlier.
"iRobot has defined the robotic floorcare class for much than 30 years, and we stay committed to increasing and evolving our business crossed smart location categories amidst a move operating landscape, said Gary Cohen, iRobot CEO in a release. "As we move ahead, we will proceed to return decisive action to reclaim our position arsenic the manufacture leader and build connected iRobot's beardown instauration centered astir our globally recognized, iconic brand, Roomba."
The shaper of the celebrated Roomba robot vacuum said that the committee is considering a "strategic reappraisal of alternatives for the business" owed to the company's failed planned merger pinch Amazon past year.
That acquisition, which was group to costs $1.7 billion, fell done owed to a threat from European Union regulators to artifact the deal.
Still, iRobot revealed the largest merchandise launch successful the company's 30-year history Tuesday pinch 8 caller Roombas, though, successful the note, the institution said it isn't counting connected occurrence owed to respective "factors" including, "consumer demand, competition, macroeconomic conditions, and tariff policies."
The company's CEO, however, remains much positive.
"Yesterday, we announced the largest merchandise motorboat successful iRobot's history, amended positioning iRobot arsenic the leader successful the class that we created," Cohen said. "Importantly, this beardown pipeline of breakthrough caller products is expected to beryllium margin-accretive compared to our bequest products and should statesman to support year-over-year gross maturation successful 2025."
In the last year, iRobot has reduced its headcount by 50%.
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