IROBOT CORPORATION Reports Second Quarter Earnings for 2023 Fiscal Year

🌥️Earnings Overview

On August 8 2023, IROBOT CORPORATION ($NASDAQ:IRBT) reported their financial results for Q2 FY2023 (ending June 30 2023). Total revenue decreased 7.4% year-on-year to USD 236.6 million, while net income saw a larger decrease, going from -43.4 million in the same period last year to -80.8 million.

Price History

On Tuesday, IROBOT CORPORATION released its second quarter earnings report for the 2023 fiscal year. The stock opened the day at $38.6 and closed at $38.7, representing a 1.0% decrease from its prior closing price of $39.1. IROBOT CORPORATION has been able to maintain consistent growth thanks to its successful strategies for marketing and developing its products for the home and commercial robotics markets. Looking forward, IROBOT CORPORATION expects to build upon its success in the upcoming quarters and continues to focus on expanding its presence in the global robotics market. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Irobot Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Irobot Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Irobot Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Irobot Corporation are shown below. More…

Analysis

GoodWhale conducted an in-depth analysis of the health of IROBOT CORPORATION to determine its financial capabilities. Our Star Chart showed that IROBOT CORPORATION had a strong profitability and medium asset strength, but was weak in its dividend and growth. Despite this, we found that IROBOT CORPORATION had a high health score of 7/10, which indicated that it has the capacity to sustain operations even during a financial crisis. Based on our overall evaluation, we classified IROBOT CORPORATION as an ‘elephant’ because it had sufficient assets to cover off its liabilities. This makes it an attractive option for investors who are looking for long-term stability and returns. Additionally, IROBOT CORPORATION’s high health score means that investors need not worry about the company’s financial capability in the near future. More…

Peers

The competition among iRobot Corp and its competitors is fierce. All of the companies are striving to be the best in the industry and to provide the best products and services to their customers. Each company has its own strengths and weaknesses, and it is up to the customer to decide which company is the best fit for their needs.

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Summary

IROBOT CORPORATION‘s second quarter of fiscal year 2023 saw total revenue of USD 236.6 million, a 7.4% decrease from the same period the year prior. Net income for the quarter was reported to be USD -80.8 million, a decrease from -43.4 million in the same period last year. This indicates that the company’s overall profitability is declining, making it a less attractive investment option. Investors should be wary of the company as it continues to struggle to maintain consistent profitability, and may want to look elsewhere for more robust returns.