iRobot Q1 rev $150M, GAAP EPS $0.30 (non-GAAP loss $1.53); names Gary Cohen CEO; cuts FY outlook

IROBOT CORP

2024-Q1 EPS reported $0.30 revenue$150,014,000

Revenue $150.0M, down 6% YoY; GAAP net income per share $0.30 vs loss ($2.95); non-GAAP net loss per share ($1.53) vs ($1.67).
Appoints Gary Cohen (former Gillette, Timex CEO) as new CEO to lead turnaround.
Completed 30% workforce reduction (~330 employees); restructuring charge $14M in Q1, expects $9M more in 2024.
Updates full-year 2024 guidance: revenue $815-860M, non-GAAP net loss per share ($3.13)-($2.71); cites yen weakness and product timing.
Launched Roomba Combo Essential ($275) and Roomba Vac Essential, first products under new contract manufacturing model.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

IROBOT CORP reported first quarter ended March 30, 2024 results: revenue $150.0 million, EPS $0.30. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $150.0 million
EPS: $0.30
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the first quarter ended March 30, 2024. First-Quarter Financial Highlights • Revenue of $150.0 million, compared with $160.3 million in Q1 of 2023. • GAAP net income per share was $0.30 compared with GAAP net loss per share of ($2.95) in Q1 of 2023. • Non-GAAP net loss per share

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Source: SEC EDGAR

accession 0001159167-24-000034

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