2023-05-09 16:44:00 ET
iRobot ( NASDAQ: IRBT ) shares slumped in Tuesday’s 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 “certain large orders from an e-tailer customer” 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 ).
“In 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,” the company explained .
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iRobot stock reels on wider than expected loss, sharp revenue decline