After a proposed acquisition by Amazon fell through and ahead of meetings with institutional investors, iRobot Corp. announced its financial expectations for the first quarter ending March 30, 2024, and the company reiterated its previously announced financial outlook for the fiscal year ending December 28, 2024.
In the first quarter, iRobot, maker of Roomba and Braava robotic floor cleaning appliances, reported it expects to post revenues of $137 million to $142 million, operating income of $7 million to $11 million and an adjusted operating loss of $47 million to $43 million when accounting for one-time events iRobot forecasts net loss per share of 22 cents to nine cents and adjusted net loss per share of $2.13 to $2.
For the fiscal year, iRobot said it expects revenues of $825 million to $865 million, an operating loss of between $41 million to $29 million and an adjusted net loss of $58 million to $46 million. iRobot forecasts a net loss per share of $3.13 to $2.70 and an adjusted net loss per share of $3.73 to $3.30.
In the first half of fiscal 2024, the company noted it expects revenue to decline in the high teens to low 20s percentage range compared to the first half of fiscal 2023, with the second quarter anticipated as the weaker period year-over-year as the company expects a shifting of orders into the third quarter.
For the second half of the year, iRobot reported it expects a mid-single-digit percentage improvement in revenue versus the second half of 2023, it stated.
