Irobot Corp

NASDAQ:IRBT   3:59:57 PM EDT
59.93
+0.22 (+0.37%)
4:52:48 PM EDT: $59.90 -0.03 (-0.05%)
Layoffs, Restructuring / Reorganization, Earnings Announcements

iRobot Reports Q2 Non-GAAP Loss Per Share Of $0.35

Published: 08/05/2022 12:49 GMT
Irobot Corp (IRBT) - Irobot Reports Second-quarter 2022 Financial Results.
Q2 Non-GAAP Loss per Share $0.35.
Q2 GAAP Loss per Share $1.60.
Revenue for Q2 of 2022 Was $255.4 Million, Compared With $365.6 Million in Q2 of 2021.
In Process of Initiating a Restructuring of Its Operations.
Restructuring Expected to Deliver Net Savings in Range of About $5 Million to $10 Million in 2022, About $30 Million to $40 Million in 2023.
Restructuring Actions Expected to Result in Net Reduction of About 140 Employees, Which Represents 10% of Workforce As of July 2, 2022.
In Conjunction With Workforce Reduction, Expects to Record Restructuring Charges Totaling Between $5 Million and $6 Million Over Next 2 Quarters.
Plans to Complete Restructuring Activities in Support of Rationalization of Its Global Facilities During Q3 of 2022.
Plans to Use Its On-hand Inventory to Help Fulfill Anticipated Orders Over Coming Quarters.
Q2 Earnings per Share View $-1.55, Revenue View $303.1 Million -- Refinitiv Ibes Data (analyst estimates).
Revenue is expected to be $422.45 Million
Adjusted EPS is expected to be $1.25

Next Quarter Revenue Guidance is expected to be $491.79 Million
Next Quarter EPS Guidance is expected to be $1.55

More details on our Analysts Page.