---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-017523"
form_type: "8-K"
ticker: null
cik: "0001159167"
company_name: "IROBOT CORP"
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T15:45:14.898061+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# iRobot and Amazon terminate merger; $94M fee; CEO exits; 350 layoffs; FY23 revenue -25%

## Summary
- Amazon pays iRobot $94M termination fee after EU regulatory blockage; merger mutually ended Jan 28.
- Colin Angle steps down as CEO and Chairman; Glen Weinstein appointed Interim CEO; Andrew Miller becomes Chairman.
- Operational restructuring cuts ~350 employees (31% of workforce); expects $12-13M restructuring charges in Q1/Q2 2024.
- Preliminary FY23 revenue $891M (-25% YoY); GAAP op. loss $265-285M; non-GAAP op. loss ~$200M; cash $185M.
- $35M of termination fee to repay Carlyle term loan; remainder set aside for loan repayments or inventory.

## SEC filing metadata
- accession: 0001193125-24-017523
- form_type: 8-K
- cik: 0001159167
- company_name: IROBOT CORP
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.02, 2.02, 2.04, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/d741198d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-017523
- JSON: https://secwatch.observer/filing/0001193125-24-017523.json
- Plain text: https://secwatch.observer/filing/0001193125-24-017523.txt

## Key facts
- Earnings Releases
  IROBOT CORP reported preliminary financial results for fiscal year ended December 30, 2023.
  - Period: fiscal year ended December 30, 2023
  - Result: preliminary results
  source text: On January 29, 2024, the Company announced preliminary financial results for the fiscal year ended December 30, 2023. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- Executive change
  Glen D. Weinstein was appointed as Interim Chief Executive Officer at IROBOT CORP.
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: Appointment of Interim Chief Executive Officer On January 28, 2024, the Board appointed Glen D. Weinstein as the Company’s Interim Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- Executive change
  Colin Angle changed role as Chairman of the Board at IROBOT CORP.
  - Action: stepped down
  - Role: Chairman of the Board
  source text: On January 28, 2024, Colin Angle stepped down as Chief Executive Officer and chairman of the Board of Directors of the Company (“Board”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- Executive change
  Colin Angle changed role as Chief Executive Officer at IROBOT CORP.
  - Action: stepped down
  - Role: Chief Executive Officer
  source text: On January 28, 2024, Colin Angle stepped down as Chief Executive Officer and chairman of the Board of Directors of the Company (“Board”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- Material Agreements
  IROBOT CORP terminated Merger Agreement with Amazon.com, Inc. valued at ninety-four million dollars ($94,000,000) (effective 2024-01-28).
  - Action: termination
  - Agreement: merger
  - Counterparty: Amazon.com, Inc.
  - Value: ninety-four million dollars ($94,000,000)
  - Effective: 2024-01-28
  source text: On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the “Termination Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm
- Restructurings & Charges
  IROBOT CORP announced a restructuring with charges of $12 million to $13 million affecting global workforce (approximately 350 employees).
  - Type: restructuring
  - Charge: $12 million to $13 million
  - Affected area: global workforce
  - Headcount: approximately 350 employees
  source text: On January 29, 2024, following the termination of the Merger Agreement, the Company announced it will implement an operational restructuring plan that is expected to include an overall reduction of approximately 350 employees, which represents 31% of the Company’s global workforce as of December 30, 2023. In connection with this workforce reduction, the Company expects to record restructuring charges of approximately $12 million to $13 million in the first two quarters of 2024 primarily relating to severance packages and related benefits, with the majority of the restructuring charges anticipated in the first quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1159167/000119312524017523/0001193125-24-017523-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.