Thu, Apr. 23, 2:08 PM
- Shares of iRobot (IRBT +6.3%) take back some ground lost earlier this week after the company's Q1 earnings and guidance disappointed.
- Volume on iRobot is 2X normal activity.
- Earlier this month, activist investor Red Mountain Capital Partners disclosed a 5.1% stake in iRobot and pressed the company to narrow its focus to the Roomba product.
- Previously: iRobot -6.2% due to soft guidance (April 21)
- Previously: iRobot beats by $0.06, beats on revenue (April 21)
- SEC Form 13D
Tue, Apr. 21, 5:37 PM
Tue, Apr. 21, 4:16 PM
- Though iRobot (NASDAQ:IRBT) beat Q1 estimates, it's guiding for Q2 revenue of $143M-$146M and EPS of $0.02-$0.06, well below a consensus of $156.9M and $0.31.
- Full-year guidance is for revenue of $625M-$635M and EPS of $1.25-$1.35; the former is in-line with a $629.4M consensus, but the latter is mostly below a $1.34 consensus. Prior EPS guidance was $1.25-$1.45.
- iRobot states its full-year outlook reflects "our confidence that Home Robot revenue will grow 11-13% driven by growth in the United States and China, and our incremental marketing investments to strengthen awareness and support our international partners."
- Shares have fallen to $31.15 AH.
- Q1 results, PR
Tue, Apr. 21, 4:02 PM
Mon, Apr. 20, 5:35 PM
Thu, Mar. 19, 12:33 PM
- 11 months after announcing a $50M buyback program good from May 2014 to April 2015, iRobot (IRBT -1.2%) has launched a similar buyback good from May 2015 to April 2016.
- The buyback is good for repurchasing ~5% of shares at current levels. Worth noting: In spite of last year's authorization, the home robot maker spent just $1.7M on buybacks in 2014.
Wed, Mar. 18, 8:42 AM
- Shares of iRobot (NASDAQ:IRBT) are under pressure in early trading after Raymond James drops its rating a level.
- The investment firm went to an Outperform position from the loftier perch of Strong Buy.
- iRobot issued guidance below expectations this year and has made a push to diversify with competition increasing in key product areas.
- Previously: iRobot -6.9% on revenue miss, light guidance (Feb. 04 2015)
- Previously: iRobot wants FCC to approve robotic lawn mower (Feb. 10 2015)
- IRBT -2.1% premarket to $31.40.
Tue, Feb. 10, 7:25 PM
- Jetsons fans and haters of lawn maintenance work rejoice: iRobot (NASDAQ:IRBT) has petitioned the FCC (.pdf) to waive a rule prohibiting the use of fixed wireless infrastructure, so that it can "obtain equipment certification for and market a robotic lawn mower."
- Product development is still in its early stages. The mower will be battery-powered, and rely on portable beacons in the yard that will "transmit to the robot to map out and stay within the designated mowing area."
- Looking to temper safety concerns, iRobot promises its robotic mower "will reduce deaths and injuries related to lawn mowing, will reduce emissions and noise pollution, and will improve quality of life."
- Investors can hope the product will also improve iRobot's top line: The Roomba maker is less than a week removed from providing soft Q1 and full-year sales guidance.
- Meanwhile, Google's (NASDAQ:GOOG) Boston Dynamics defense robot unit (acquired in 2013) is showing off Spot, a 160-pound robotic dog that can walk, trot, climb steps, and (judging by a video clip) stay on its feet after being kicked.
Thu, Feb. 5, 9:12 AM
Wed, Feb. 4, 5:35 PM
Wed, Feb. 4, 4:24 PM
- iRobot (NASDAQ:IRBT) is guiding for Q1 revenue of $114M-$117M and EPS of $0.08-$0.10, below a consensus of $133.8M and $0.27. Full-year guidance is for revenue of $625M-$635M and EPS of $1.25-$1.45, mostly below a consensus of $643.1M and $1.44.
- The company notes overseas home robot growth will be "tempered" by macro and forex issues. Home robot sales are expected to rise 11%-13% in 2015 (mid-teens in U.S.), and defense/security robot sales are expected to grow for the first time since 2011.
- Q4 home robot sales +24% Y/Y to $134.1M. Defense/security robots +48% to $24.1M.
- Gross margin rose to 47.9% from 46.6% a year ago (helped EPS beat estimates in spite of the revenue miss). GAAP operating expenses rose 17% to $63.6M (compares with 26% rev. growth). $1.7M was spent on buybacks.
- Shares are down to $29.75 AH, putting them right near a 52-week low of $29.73. JPMorgan's downgrade was well-timed.
- Q4 results, PR
Wed, Feb. 4, 4:04 PM
Tue, Feb. 3, 5:35 PM
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Wed, Jan. 14, 12:01 PM
- JPMorgan has downgraded iRobot (NASDAQ:IRBT) to Underweight ahead of its Feb. 4 Q4 report, and cut its target by $4 to $34. The Roomba maker is now less than $1.50 removed from its 52-week low of $29.73.
- CFO Alison Dean presents at 3:30PM ET today at a Needham conference (webcast). Samsung introduced a new robot vacuum cleaner (the POWERbot VR9000) last week at CES.
Dec. 19, 2014, 7:27 AM
Nov. 20, 2014, 9:51 AM
- Canaccord has launched coverage on robot vendors iRobot (IRBT +1.3%) and Adept Technology (ADEP +4.9%), as well as 3D measurement/imaging device maker FARO Technologies (FARO +1.9%), with Buy ratings. Its targets are respectively $45, $11, and $65.
- Separately, Adept has announced the hiring of Michael Jellen, formerly a Danaher exec, to be its VP for North America.
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