IROBOT CORP SEC 10-Q Report
iRobot Corp, a leading global consumer robot company, has released its Form 10-Q report for the second quarter of fiscal year 2025. The report highlights significant financial and operational metrics, reflecting the company's ongoing efforts to navigate market challenges and leverage new product innovations.
Financial Highlights
Total Revenue: $127.6 million, a decrease of 23.3% from $166.4 million in the same period last year, primarily due to a decline in domestic and international revenue.
Gross Profit: $38.3 million, an increase of 39.4% from $27.5 million in the same period last year, with a gross margin improvement to 30.0% from 16.5%, driven by better cost profiles of new products and the absence of prior year inventory charges.
Operating Loss: ($36.7) million, improved from ($61.1) million in the same period last year, reflecting cost reductions and restructuring efforts.
Net Loss: ($22.8) million, improved from ($70.6) million in the same period last year, with a net loss margin of (17.9)% compared to (42.5)% previously.
GAAP Net Loss Per Diluted Share: ($0.68), improved from ($2.41) in the same period last year, reflecting the impact of cost control measures and strategic restructuring.
Business Highlights
Revenue Segments: The company's revenue for the first half of fiscal 2025 was significantly impacted by a decline in consumer sentiment and spending, leading to lower orders from retailers and distributors. The newly launched suite of robots accounted for 49% of total revenue, indicating a shift from legacy products to new offerings.
Geographical Performance: Domestic revenue declined by 36.1%, while international revenue saw a decrease of 19.5%. The EMEA region experienced a 22.1% decline, whereas Japan's revenue decreased by 7.5% for the six months ended June 28, 2025.
Sales Units: Total robot units shipped decreased by 10.1% for both the three and six months ended June 28, 2025, compared to the same periods in 2024. The average gross selling price for robot units also decreased, reflecting competitive market pressures.
New Product Launches: In March 2025, the company announced its largest new product launch, including a suite of new floor cleaning robots with advanced features and a new Roomba Home app. The Roomba 105 Vac Robot series, Roomba 205 DustCompactor series, Roomba Plus 405 Combo Robot + AutoWash Dock, and Roomba Plus 505 Combo Robot + AutoWash Dock were introduced, with most products available to consumers by early April.
Future Outlook: The company anticipates that its extensive patent portfolio and proprietary technologies will enable faster time to market and reduced costs and risks associated with product development. The iRobot Elevate strategy is expected to facilitate a turnaround by aligning cost structures with revenue expectations and focusing on key innovations and consumer needs.
SEC Filing: IROBOT CORP [ IRBT ] - 10-Q - Aug. 07, 2025