iRobot stock reels on wider than expected loss, sharp revenue decline
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iRobot (NASDAQ:IRBT) shares slumped in Tuesdayâs extended session after the Roomba manufacturer missed Q1 expectations.

The Massachusetts-based robotics company reported a $1.67 per share loss, $0.35 wider than analysts had anticipated, as revenue dropped over 45% year over year to miss estimates as well. The company noted that revenue in the US declined more than 50%, owing in part to âcertain large orders from an e-tailer customerâ that occurred in Q1 2022. These large orders have been shifted to Q2 in 2023, per the quarterly update.

Shares of iRobot Corporation (IRBT) moved 7.65% after the miss on top and bottom lines for Q1.

Moving forward in 2023, the company offered no comment on expectations due to a pending deal with Amazon (AMZN).

âIn light of the pending transaction with Amazon.com, Inc., which was announced on August 5, 2022, iRobot will not hold a financial results conference call, and its practice of providing full-year financial guidance remains suspended,â the company explained.