NASDAQ$IRBTQ
iRobot Corp. · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported Q4 and full year 2022 financial results.
iRobot reported a decrease in revenue for Q4 2022 to $357.9 million, compared to $455.4 million in Q4 2021. The GAAP operating loss was ($84.8) million, compared to ($44.9) million in Q4 2021. GAAP net loss per share was ($3.07), compared to ($1.17) in Q4 2021.
- Q4 2022 revenue was $357.9 million, a decrease from $455.4 million in Q4 2021, impacted by lower orders from retailers and distributors in North America and EMEA.
- GAAP operating loss for Q4 2022 was ($84.8) million, compared to ($44.9) million in Q4 2021, reflecting lower revenue and decreased gross profit margin due to increased promotional activities.
- GAAP net loss per share was ($3.07) for Q4 2022, compared to ($1.17) for Q4 2021.
- As of December 31, 2022, cash, cash equivalents, and short-term investments totaled $117.9 million.
Headline financials
Revenue & EPS history
iRobot · Revenue · Quarterly
$358M
Forward guidance
iRobot anticipates that the decline in 2023 GAAP and non-GAAP operating expenses will range from mid-single digits to low double-digits on a percentage basis from 2022 GAAP and non-GAAP levels.
Tailwinds
- The company plans to reduce its workforce by approximately 7%, or approximately 85 employees, primarily by streamlining certain functions across the company.
- iRobot’s 2023 operating plan incorporates scaled back working media and other demand-generation activities.
- Limited investment in non-robotic product categories.
- Minimal new hiring plans in 2023.
- iRobot expects to record restructuring charges of approximately $4 million in the first quarter of 2023.
Headwinds
- Market conditions will remain challenging into 2023.
- The company has initiated a new restructuring program that is expected to deliver net annualized savings of approximately $14 million.
- iRobot has temporarily reduced robot production at its contract manufacturing partners in China and Malaysia.
- Orders are expected to be relatively muted during the first quarter of 2023 due in part to the shifting of certain orders into the second quarter of 2023.
- Decline in 2023 GAAP and non-GAAP operating expenses will range from mid-single digits to low double-digits on a percentage basis from 2022 GAAP and non-GAAP levels.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q4 2022
-2.8%
Avg return
Earnings day
-7.4%
Avg return
5 days after
-6.6%
Avg return
30 days after
37%
23 / 62 earnings
Positive
+26.4%
Q1 2024
Best reaction
-35.7%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.0% | -14.8% | +36.4% | |
| Q2 2025 | -7.1% | -19.0% | -23.3% | |
| Q1 2025 | -6.5% | -10.9% | +15.1% | |
| Q4 2024 | -35.7% | -40.2% | -67.3% | |
| Q3 2024 | -33.5% | -30.8% | -14.3% | |
| Q2 2024 | +1.4% | -20.5% | -33.4% | |
| Q1 2024 | +26.4% | +48.7% | +5.7% | |
| Q4 2023 | +1.3% | -3.7% | -26.2% | |
| Q3 2023 | -5.9% | -10.8% | +20.7% | |
| Q2 2023 | -0.5% | -3.5% | -4.8% | |
| Q1 2023 | -5.9% | -11.5% | +5.3% | |
| Q4 2022 | -0.3% | -0.7% | +5.8% | |
| Q3 2022 | -3.6% | -4.1% | -9.9% | |
| Q2 2022 | +19.3% | +19.2% | +18.1% | |
| Q1 2022 | +0.1% | -7.0% | -15.3% | |
| Q4 2021 | -10.8% | -8.2% | -18.2% | |
| Q3 2021 | +6.3% | — | — | |
| Q2 2021 | -2.5% | — | — | |
| Q1 2021 | -11.6% | — | — | |
| Q3 2020 | -8.6% | — | — | |
| Q2 2020 | -7.8% | — | — | |
| Q1 2020 | +5.6% | — | — | |
| Q4 2019 | +20.2% | — | — | |
| Q3 2019 | -12.0% | — | — | |
| Q2 2019 | -19.3% | — | — | |
| Q1 2019 | -22.0% | — | — | |
| Q4 2018 | +10.0% | — | — | |
| Q3 2018 | -11.3% | — | — | |
| Q2 2018 | +13.7% | — | — | |
| Q1 2018 | -4.8% | — | — | |
| Q4 2017 | -31.3% | — | — | |
| Q3 2017 | -13.0% | — | — | |
| Q2 2017 | +17.8% | — | — | |
| Q1 2017 | +15.5% | — | — | |
| Q4 2016 | -13.8% | — | — | |
| Q3 2016 | +9.9% | — | — | |
| Q2 2016 | +4.5% | — | — | |
| Q1 2016 | +9.1% | — | — | |
| Q4 2015 | -17.0% | — | — | |
| Q3 2015 | -5.1% | — | — | |
| Q2 2015 | -0.9% | — | — | |
| Q1 2015 | -6.3% | — | — | |
| Q4 2014 | -9.6% | — | — | |
| Q3 2014 | +17.6% | — | — | |
| Q2 2014 | -4.5% | — | — | |
| Q1 2014 | -8.7% | — | — | |
| Q4 2013 | +12.7% | — | — | |
| Q3 2013 | -3.4% | — | — | |
| Q2 2013 | -13.1% | — | — | |
| Q1 2013 | +14.9% | — | — | |
| Q4 2012 | -10.6% | — | — | |
| Q3 2012 | -19.3% | — | — | |
| Q2 2012 | +16.5% | — | — | |
| Q1 2012 | -5.0% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | +0.4% | — | — | |
| Q2 2011 | -15.1% | — | — | |
| Q1 2011 | -15.1% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | +4.7% | — | — |
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