IROBOT (IRBT) Company Report

iRobot Corporation (IRBT) entered a Restructuring Support Agreement (RSA) for its secured lender and primary contract manufacturer, Picea, to acquire the company through a court-supervised pre-packaged chapter 11 process.
iRobot voluntarily commenced the chapter 11 process on December 14, 2025, with an expected completion by February 2026.
Upon completion, iRobot will become a private company wholly owned by Picea, and its common stock will no longer be listed on Nasdaq.
Holders of iRobot's common stock are expected to experience a total loss on their investment and will not receive any equity in the reorganized company.

Dec 15, 2025, 11:02 AM

iRobot Announces Acquisition by Picea Through Chapter 11 Process

IRBT

M&A

Delisting/Listing Issues

Legal Proceedings

iRobot has entered into a Restructuring Support Agreement with its secured lender and key supplier, Picea, for Picea to acquire the company through a court-supervised chapter 11 process.
The company has voluntarily commenced a pre-packaged chapter 11 process and expects to complete it by February 2026.
Under the agreement, Picea will receive 100% of the equity interests in iRobot, which will result in the company becoming a private entity wholly owned by Picea, and its common stock will be delisted from The Nasdaq Stock Market LLC.
Holders of iRobot's common stock are expected to not receive any recovery on their investment, experiencing a total loss.

Dec 14, 2025, 11:57 PM

iRobot's Primary Manufacturer Acquires Company Debt, Extends Waivers Amidst Going Concern Doubts

IRBT

M&A

Profit Warning

Debt Issuance

On November 24, 2025, Santrum Hong Kong Co., Limited, a subsidiary of iRobot's primary manufacturer Picea, acquired all rights and interests of iRobot's lenders, assuming $190.7 million in outstanding principal and interest.
As of November 24, 2025, iRobot owed Picea $161.5 million for manufacturing, with $90.9 million past due, and the companies are engaged in discussions for a resolution.
Santrum extended the waiver of iRobot's covenant obligations, including providing an auditor's report without a going concern qualification for fiscal year 2024, until January 15, 2026, and deferred a $5.1 million cash interest payment until the same date.
iRobot's auditor's report for FY 2024 expresses substantial doubt about the company's ability to continue as a going concern, and the company has drawn down all available capital, indicating that a transaction outside of bankruptcy is unlikely and stockholders would likely receive no recovery.

Dec 1, 2025, 9:02 PM

iRobot Corp. Reports Q3 2025 Financial Results with Significant Revenue Decline and Liquidity Concerns

IRBT

Earnings

Profit Warning

Demand Weakening

iRobot Corp. reported a significant decline in revenue for the third quarter ended September 27, 2025, totaling $145.8 million, down from $193.4 million in the prior-year period.
The company posted a GAAP net loss per share of ($0.62) and a Non-GAAP net loss per share of ($0.23) for Q3 2025, compared to a GAAP net loss of ($0.21) and Non-GAAP net income of $0.03 in Q3 2024.
CEO Gary Cohen attributed the revenue shortfall to continuing market headwinds, ongoing production delays, and unforeseen shipping disruptions, which led to increased cash usage and pressured profitability.
As of September 27, 2025, cash and cash equivalents totaled $24.8 million, a decrease from $40.6 million as of June 28, 2025, and the company stated it has no sources upon which it can draw for additional capital.
Revenue declined across all major geographical regions in Q3 2025 compared to the prior year, with the U.S. declining 33%, EMEA declining 13%, and Japan declining 9%.

Nov 6, 2025, 9:18 PM

iRobot Reports Third Quarter 2025 Financial Results

IRBT

Earnings

Profit Warning

Demand Weakening

iRobot reported revenue of $145.8 million for the third quarter ended September 27, 2025, a significant decrease from $193.4 million in the prior-year period, falling below internal expectations due to continuing market headwinds, production delays, and shipping disruptions.
The company posted a GAAP net loss per share of ($0.62) for Q3 2025, compared to a net loss per share of ($0.21) in Q3 2024.
Cash and cash equivalents declined to $24.8 million as of September 27, 2025, from $40.6 million as of June 28, 2025, with the company indicating it has no sources for additional capital.
Revenue declined across all geographical regions in Q3 2025, with the U.S. experiencing a 33% decrease, EMEA a 13% decrease, and Japan a 9% decrease compared to the prior-year period.