iRobot Corp. (IRBT) Issues 2024 Guidance

iRobot Corp. (NASDAQ: IRBT) today announced its GAAP and non-GAAP financial expectations for the first quarter ending March 30, 2024, and reiterated its previously announced financial outlook for the fiscal year ending December 28, 2024 ahead of meetings with institutional investors.
First Quarter 2024 Outlook
iRobot is providing GAAP and non-GAAP financial expectations for the first quarter ending March 30, 2024. A detailed reconciliation between the Company’s GAAP and non-GAAP expectations is included in the attached financial tables.
First Quarter 2024:

Metric
GAAP
Adjustments
Non-GAAP
Revenue
$137 - $142 million
—
$137 - $142 million
Gross Margin
22% to 23%
~1%
23% to 24%
Operating Income (Loss)
$7 – $11 million
~($54) million
($47) – ($43) million
Net Loss Per Share
($0.22) – ($0.09)
~($1.91)
($2.13) – ($2.00)

Reiterates 2024 Financial Outlook
iRobot is reiterating its GAAP and non-GAAP financial expectations for the fiscal year ending December 28, 2024 as well as first half and second half color, previously announced in its fourth-quarter and year-end 2023 news release on February 26, 2024. A detailed reconciliation between the Company’s GAAP and non-GAAP expectations is included in the attached financial tables.
Fiscal Year 2024:

Metric GAAP Adjustments Non-GAAP
Revenue $825 - $865 million — $825 - $865 million
Gross Margin 31% to 33% ~1% 32% to 34%
Operating Loss ($41) – ($29) million ~($17) million ($58) – ($46) million
Net Loss Per Share ($3.13) – ($2.70) ~($0.60) ($3.73) – ($3.30)

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