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Irobot Corporation

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Last Updated: 02 July 2021

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Bedford, Mass., June 15 2020 / PRNewswire / - iRobot Corp., Leader in consumer robots, today provided an update on its business. The company has experienced stronger - than - expected orders during the second quarter as consumers worldwide are increasingly relying on Roomba Robot vacuums and Braava Robot mops to address their home floor care needs. Among highlights: iRobot anticipates second - quarter 2020 revenue of between $260 million and $270 million versus prior expectations for second - quarter 2020 revenue to be down modestly from first - quarter 2020 revenue of $193 million. The company's expected second - quarter 2020 top - line performance reflects robust order growth for premium products, namely Roomba i7 Series and s9 Series, and Braava jet m Series. Geographically, quarterly US revenue is anticipated to grow in the mid - single digit range on a percentage basis over last year's second quarter. International revenue for the second quarter is expected to decline modestly as solid growth in Japan is likely to be more than offset by softness in Europe. Companies anticipate that substantially higher - than - anticipated second - quarter revenue, aided to a lesser extent by better - than - planned gross margin and diligent expense management, will result in a return to operating profitability for the quarter. This compares with prior expectations for a sizeable second - quarter non - GAAP loss from operations. Year - to - date sell - through growth on unit basis through end of May has strengthened in the US due to accelerated purchasing over the past two months, and remains positive in EMEA. Companies have enjoyed double - digit sell - through growth in Japan in each of the past four weeks, although year - to - date sell - through has remained negative. Our anticipated second - quarter 2020 financial performance will be substantially better than we originally expect, state Colin Angle, iRobot's chairman and chief executive officer. We have experienced strong demand thus far in the second quarter, particularly in the US, with solid growth in our premium products. Maintaining a clean home has become a higher priority for many consumers as COVID - 19 has forced people to spend more time in their homes. Our floor cleaning robots have become true partners to millions of customers around the globe, enabling them to keep their homes tidy while freeing them to focus on other priorities, which may now include working from home, childcare and home schooling. Angle conclude, healthy US sell - through dynamics that we 've observe, combined with steps we 've taken to manage costs, further reinforce our view that our second - half 2020 performance will show meaningful improvement over first - half levels. We move forward with improved business momentum although there is still considerable uncertainty about prospects for economic recovery in different parts of the world, which continues to limit our visibility to timing and magnitude of future orders. Give these dynamics, we continue to expect lower 2020 annual revenue versus prior year. We expect to share additional insight into our anticipated full - year 2020 financial performance when we report our second - quarter results in late July. About iRobot Corp. Irobot, leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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Irobot is the company behind the popular Roomba robotic vacuum, but they also make robots for the military and health care industry. Their robots are used as unmanned ground vehicles and as first responders in HazMat response units. Ava 500 video collaboration robots bring telepresence and mobility to the business and medical worlds. Not bad for a company that started out 25 years ago as a team of three from MIT. Today, iRobot is a company with over 600 employees around the world, comprised of passionate, mission - driven builders, according to Russ Campanello, Executive Vice President of Human Resources and Corporate Communications. With so many different types of applications and industries serve, we ask for some insight into how iRobot seeks out and hires top tech talent.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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