iRobot Corporation Reports Q1 Results

iRobot Corp. (NASDAQ: IRBT) get a heads start on Wednesday, 4/26/2017. The significant gain is due to the release of their Q1 reports, as they announced before market open, that they achieved 32% Year over Year (YOY) consumer revenue YOY as they experience growth across all regions.

As Collin Angle, CEO and chairman of iRobot states, “We also achieved an important strategic initiative with the completion of purchase of our Japanese distributor shortly after the close of the first quarter. Based on our Q1 results…we are increasing our full-year financial expectations. We now expect 2017 revenue of $780 to $790 million, EPS of between $1.45 and $1.70 and operating income of $60-$70 million.”

Revenue for Q1 2017 was 168.5 million compared to that of 130.8 million of Q1 in 2016. Net income for the first quarter of 2017 was $16.4 million compared to $3.9 million for the Q1 of 2016 and adjusted EBITDA for the first quarter of 2017 at $30.2 million compared with $1.41 million in the first quarter of 2016. iRobot presented that they also achieved international revenue growth of 29% in Q1 2017, which is based on their China revenue up 23%; Japan was up 21% and EMEA was up 36% from a year ago.

iRobot, the leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home. iRobot created the home robot cleaning category with the introduction of its Roomba® Vacuuming Robot in 2002. Today, iRobot is a global enterprise that has sold more than 15 million robots worldwide. iRobot's product line, including the Roomba and the Braava™ family of mopping robots, feature proprietary technologies and advanced concepts in cleaning, mapping and navigation. iRobot's engineers are building an ecosystem of robots and data to enable the smart home.

Leave a Comment