iRobot Corp. (IRBT) Says It's Expanding Direct-to-Consumer Product and Service Offerings

iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced it is diversifying its product offerings with the introduction of the iRobot H1 handheld vacuum for cleaning hard-to-reach areas like couches, curtains and stairs. The company also reported continued progress in its efforts to offer new services that provide customers with greater purchase protection and flexibility, such as its Protect and Protect+ extended warranties, and positive early test results from iRobot Select, its robot-as-a-service membership program.

As previously reported, iRobot's direct-to-consumer sales more than doubled in the fourth quarter and generated 11% of total 2020 revenue while the company continued to enjoy strong demand from major retailers worldwide. During 2020, iRobot's connected customer base grew over 80% to 9.7 million customers. The introduction of a new premium handheld vacuum and broad commercial availability of extended warranty packages are the latest milestones in the company's efforts to build stronger, more enduring direct relationships with its customers and nurture the lifetime value of these relationships.

"We have always believed that the future of vacuuming is a Roomba robot and a cordless vacuum for hard-to-reach places. The H1 handheld vacuum complements our existing product lineup by offering customers a premium iRobot solution for cleaning beyond the floor. It also represents the first product introduction that leverages our enhanced direct-to-consumer capabilities, allowing for another efficient way to bring new products to market," said Colin Angle, chairman and CEO of iRobot. "We've also been delighted with the frequency at which customers are adding extended warranty coverage when they purchase robots directly from us. In addition, we have been pleased thus far by the overwhelmingly positive response from our small-scale pilots of new premium membership and care services."

iRobot H1 Handheld Vacuum

The iRobot H1 handheld vacuum rounds out a Roomba® or Braava® robot user's cleaning routine by tackling spaces like couches and stairs. It includes three specialized accessories: a motorized upholstery tool, a crevice tool and a 2-in-1 combination tool for quick dusting anywhere. The handheld vacuum's adjustable power setting provides strong suction for heavier messes and a lower suction option for daily touchups and longer run time. Dust and pollen stay trapped by a dual filtration system that includes a high-efficiency exhaust filter.

The iRobot H1 handheld vacuum is available for purchase in the U.S. ($249.99) on www.irobot.com. Availability in other markets is not being announced at this time.

iRobot Protect and Protect+ Extended Warranties

iRobot Roomba and Braava robots are sold with a limited, one-year warranty. U.S. customers can now extend their warranties with iRobot Protect for an additional one-year or three-year term that covers the robot and its battery, along with free shipping and on-demand access to experts who help customers get the most from their robots. Additional information about iRobot Protect is available on www.irobot.com/protection-plan/protect. Alternatively, U.S. customers can purchase iRobot Protect+, which not only extends the length of warranty by either one or three years including free shipping and on-demand access to experts, but also includes accidental damage coverage. Accidental damage coverage begins from the date of purchase and is active through the length of the extended warranty. Additional information about iRobot Protect+ is available on www.irobot.com/protection-plan/protect-plus.

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