iRobot -9.5% AH on revenue miss, soft Q4 guidance


On top of missing Q3 revenue estimates, iRobot (IRBT) is guiding for Q4 revenue of $124M-$129M and EPS of $0.06-$0.11, mostly below a consensus of $129M and $0.17.

Home robot sales (91% of revenue) rose 16% Y/Y in Q3 after growing at a 20% clip in Q2. Defense robot sales tumbled 62%, thanks partly (but not entirely) to the government shutdown.

International robot sales (68% of total) rose 19% Y/Y, and U.S. robot sales 9%. iRobot's home robot ASP was $225, unchanged Q/Q and up $2 Y/Y.

Gross margin was 43.4%, down 390 bps Q/Q and 290 bps Y/Y. Opex +20% Y/Y vs. a 1% rev. drop.

Q3 results, PR

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