iRobot Corp. announced its financial results for the second quarter ended June 28, 2025, on August 7, 2025, reporting revenue of $127.6 million. This represents a 23.3% decline compared to $166.4 million in Q2 2024, driven by a decrease in total robots shipped and average selling price.
The company reported a GAAP net loss per share of ($0.68) and a non-GAAP net loss per share of ($0.27), showing improvement from ($2.41) and ($1.96) respectively in Q2 2024. Gross margin improved significantly to 30.0% GAAP and 30.2% non-GAAP, compared to 16.5% and 16.7% in Q2 2024, primarily due to the absence of substantial inventory write-downs.
Despite gross margin expansion and tightened operating expenses, CEO Gary Cohen stated that performance fell short of expectations due to persistent market headwinds and delays in scaling new product sales. The company's cash position continued to decline, posing ongoing challenges to liquidity and operational flexibility.
iRobot further amended its existing term loan on August 6, 2025, to extend the covenant waiver to September 19, 2025. The Board's strategic review of alternatives for the business remains ongoing, and the company has suspended its practice of providing financial guidance and will not host an earnings conference call.
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