IRobot Corp. Provides Earnings Guidance for the First Quarter Ending March 30, 2024; Reiterates Earnings Guidance for the Fiscal Year Ending December 28, 2024; Provides Revenue Guidance for the First Half and Second Half of 2024
March 11, 2024 at 08:05 pm
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iRobot Corp. provided earnings guidance for the first quarter ending March 30, 2024, reiterated earnings guidance for the fiscal year ending December 28, 2024 and provided revenue guidance for the first half and second half of 2024. For the first quarter, the company expects revenue of $137 million - $142 million, Operating Income to be $7 million ? $11 million and Net Loss Per Diluted Share to be $0.22 ? $0.09.
For the year, the company expects revenue of $825 million - $865 million, Operating loss to be $41 million ? $29 million and Net Loss Per Diluted Share to be $3.13 ? $2.70.
For the first half of 2024, revenue is expected to decline in the high teens to low 20s percentage range compared to the first half of 2023, with second quarter expected to be the weaker quarter year-over-year as the Company expects a shifting of orders into third quarter.
For the second half of 2024, the Company anticipates a mid-single-digit percentage improvement in revenue compared to the second half of 2023.
iRobot Corporation is a global consumer robot company. The Company designs, builds, sells and supports durable robots through the integration of software, electronics and hardware. Its portfolio of home robots and smart home devices features technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. Its products include Roomba Combo, Roomba, Braava, Braava jet and Root. It offers the Braava family of automatic floor mopping robots, which are designed for hard-surface floors. It also sells Roomba accessories and consumables, including the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the clean base, filters, brushes and batteries. It also provides ongoing customer service and support through the iRobot HOME App. The Company offers its products through distributor and retail sales channels, as well as the online store on its Website and through its Home App.
IRobot Corp. Provides Earnings Guidance for the First Quarter Ending March 30, 2024; Reiterates Earnings Guidance for the Fiscal Year Ending December 28, 2024; Provides Revenue Guidance for the First Half and Second Half of 2024