Still bleeding cash and handcuffed by Carlyle debt burden, iRobot can’t save the business by shipping jobs to China.
Amazon CEO doesn’t think it will remain a going concern much longer:
https://www.cnbc.com/amp/2024/04/11/amazon-ceo-jassy-spurns-regulators-after-failed-irobot-deal.html
Amazingly accurate posts here. You all predicted exactly what would happen.
They lost $60M in 2Q 24 and have just $108.5M of cash on hand. I don’t think they’ll last much longer.
New CEO is starting to fire the executive level folks. I see a whole new management team in a few months. I also see another huge layoff coming soon. It will take a miracle for iRobot to survive. Competition is much more fierce in this market and iRobot is burning cash too fast. I give them until 2025.
I work for one of their suppliers and we’re not getting paid. That’s the first shoe to drop.
They’ve lagged in innovation for too many years. Everyone has already surpassed them. Moving R&D and manufacturing to China will not help and will take years to make any impact.