Roomba maker says ‘substantial doubt’ about future of company

IROBOT, the company behind the Roomba voids, issued a “big doubt” warning about the company’s future.

The company put on Wednesday that “a major doubt about the company’s ability to continue as continuous issues for a period of no less than 12 months from the date of issuing its unified financial data 2024”, as its financial results were set for the entire year.

IROBOT achieved revenue of $ 681.0 million in the fiscal year 2024, a decrease of more than 23 % compared to the previous year. Its annual loss was 145.5 million dollars.

IROBOT vacuum cleaner seen in the target Superstore. (Alex Tai/SOPA Images/Lightrockket via Getty Images/Getty Images)

Earlier this week, it revealed a large number of new robot voids that are scheduled to reach the market as of March 18, including Roomba 205 DustCcompactor Robot and Roomba 205 DustCCCCONPACTOR Combo Robot and others.

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“There can be no guarantee that the launch of the new product will be successful due to potential factors, including, but not limited to, the demand for consumer, competition, macroeconomic conditions, and customs tariff policies,” said IROBOT warns “fundamental suspicion.”

The Massachusetts -based company has witnessed a “aggressive competition” in Europe, the Middle East, Africa and the United States during 2024, according to its annual report.

The company also revealed on Wednesday that a credit agreement had been amended two years ago. This step includes incurring $ 3.6 million fees, according to the SEC report.

Early last year, Roomba Maker began a “operational restructuring” that it said would help “put the company to settle in the current environment, focusing on profitability and enhancing the main growth initiatives to expand its market share in medium and medium sectors.” IROBOT revealed this initiative shortly after that, Amazon agreed to cancel a proposed purchase of the Roomba manufacturer by the e -commerce giant.

The Amazon ends the acquisition of IROBOT because of organizational obstacles

The deal was competing with obstacles from European monopoly organizers.

IROBOT said on Wednesday that it reduced marketing costs and made its products less expensive, among other measures, as part of the restructuring. These efforts helped see a “meaningful” decrease in operating expenses on an annual basis in 2024, according to the company.

Roomba Robot voids made by IROBOT are displayed on a shelf in the bed bath and outside the store in Larkspur, California, on August 5, 2022. (Justin Sullivan / Getty Emokires / Getty Emoz)

The company said that it started looking at a “wide range of alternatives” for its work through an “official strategy review”. Debt and transactions were among the measures he mentioned that it was an evaluation.

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However, Irobot noted that the board of directors “did not specify a timetable for the conclusion of this review, and there could be no guarantee that exploring strategic alternatives would lead to any agreements or transactions.”

The company has been operating since 1990. The first vacuum appeared in Roomba in 2002.