iRobot (IRBT -35.66%) stock has fallen 35% after the company issued a "going concern" warning, raising doubts about its ability to stay in business over the next year.
The loss-making company was once valued at $3.56 billion in 2021, driven by pandemic-fueled demand. It is now worth less than $200 million.
Shares of iRobot plunged more than 30% on Wednesday after the Roomba maker said there's "substantial doubt" about its ability to stay in business. The Roomba maker faces mounting debt and sputtering revenue growth, as well as heightened competition from robotic vacuum makers based in China.
Consumer robot company iRobot, maker of the Roomba robot vacuum, said in a Wednesday (March 12) earnings release that there is “substantial doubt” about its ability to continue as a going concern.
iRobot Corporation (NASDAQ:IRBT) shares plummeted more than 35% after the company expressed "substantial doubt about the company's ability to continue" operations over the next 12 months. The Roomba-maker said in a statement that there is “no assurance that the new product launches will be successful due to potential factors, including, but not limited to consumer demand, competition, macroeconomic conditions, and tariff policies.
The maker of the Roomba robotic vacuum cleaner said there's “substantial doubt” about its ability to stay in business.
Goldman Brings Proven Record of Overseeing Successful Operational and Financial Transformations Expands Size of Board to Nine Directors BEDFORD, Mass. , March 12, 2025 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced the addition of Neal P.
Continues to Make Progress on "iRobot Elevate" Strategy Board of Directors Initiates Review of Strategic Alternatives BEDFORD, Mass. , March 12, 2025 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the fourth quarter and full year ended December 28, 2024.
Largest Product Launch in iRobot History BEDFORD, Mass. , March 11, 2025 /PRNewswire/ -- iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced the availability of a suite of new technologically-innovative Roomba® vacuums and 2-in-1 vacuums and mops with advanced features, ranging from debris-compacting systems to extending and retractable dual-spinning mop pads that tackle stubborn messes.
IRBT reports fourth-quarter 2024 preliminary results, wherein its revenues and operating results missed the guidance.