- iRobot press release ( NASDAQ: IRBT ): Q3 Non-GAAP EPS of -$1.78 misses by $3.03 .
- Revenue of $278.2M (-36.9% Y/Y) misses by $144.25M .
- The company's inventory balance was $419M, or 191 days, as of October 1, 2022, versus $354M, or 116 days, at the end of the third quarter one year ago. The increase in inventory primarily reflected higher on-hand inventory levels entering the quarter and the impact of relatively soft orders during the quarter as retailers and distributors in North America and EMEA took actions to reduce their own inventory levels.
- iRobot plans to use its on-hand inventory to help fulfill anticipated fourth-quarter 2022 orders.
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iRobot Non-GAAP EPS of -$1.78 misses by $3.03, revenue of $278.2M misses by $144.25M