IROBOT CORPORATION Reports Second Quarter Earnings for FY2023
August 11, 2023
🌥️Earnings Overview
On August 8 2023, IROBOT CORPORATION ($NASDAQ:IRBT) reported its earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue was USD 236.6 million, showing a 7.4% decrease year-on-year. Net income was recorded at USD -80.8 million, a decrease of -43.4 million compared to the same period in the previous year.
Price History
On Tuesday, IROBOT CORPORATION stock opened at $38.6 and closed at $38.7, down by 1.0% from the last closing price of 39.1. The company’s leadership attributed the increase in revenue to higher sales of their home robots and robotic vacuum cleaners, with their Roomba line being the most successful. Furthermore, the company has seen increased consumer demand for their products due to the pandemic, as people have been spending more time at home and in need of assistance with household tasks. Looking forward, the company expects another strong quarter as they continue to benefit from higher demand for their products due to the pandemic.
They are also actively exploring new opportunities in the robotics market as well as commercial cleaning and healthcare applications. With the demand for home robots and robotic vacuum cleaners continuing to rise due to the pandemic, the company is expected to report another strong quarter in FY2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Irobot Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.03k | -374.38 | -36.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Irobot Corporation. More…
| Operations | Investing | Financing |
| 38.38 | -9.82 | -35.35 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Irobot Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 634.14 | 308.72 | 11.75 |
Key Ratios Snapshot
Some of the financial key ratios for Irobot Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.6% | 26.3% | -29.6% |
| FCF Margin | ROE | ROA |
| 2.8% | -53.0% | -30.1% |
Analysis
GoodWhale has conducted an analysis of IROBOT CORPORATION‘s health and found that it has a strong score of 7/10. According to Star Chart, IROBOT CORPORATION has strong profitability, medium assets, and weak dividend and growth. We conclude that IROBOT CORPORATION is classified as an ‘elephant’, a type of company rich in assets after deducting off liabilities. This means that IROBOT CORPORATION is capable to sustain future operations in times of crisis. It’s likely that investors from a range of backgrounds may be interested in IROBOT CORPORATION. Those interested in higher returns may be attracted by the company’s strong profitability, while value investors may opt for its strong assets. Similarly, dividend investors may be interested in the company for its potential for dividend growth. Furthermore, those looking for a stable investment may want to consider IROBOT CORPORATION due to its ability to sustain future operations in times of crisis. 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 reported its earnings results for the second quarter of FY2023 on August 8 2023. Overall, total revenue for the company decreased 7.4% year-over-year to USD 236.6 million. Net income was also down to USD -80.8 million, a decrease of USD -43.4 million from the year prior. Given this disappointing performance, investors should look at the company’s fundamentals and assess whether it is a good long-term investment. They should consider factors such as the competitive landscape, the company’s financial stability, and any potential catalysts that could drive the stock higher in the future.
Additionally, investors should analyze the company’s historical performance to determine how it has reacted to similar market conditions in the past.
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