iRobot has financial trouble after canceled deal with Amazon
14.03.25
Robot vacuum maker iRobot has faced serious financial difficulties and said its future is at risk. The company has begun a strategic review of its options, including refinancing its debt or selling its business.
iRobot’s problems have worsened after it scrapped a deal with Amazon to acquire the company for $1 billion. The European Commission raised antitrust concerns, forcing Amazon to pull out of the deal, leaving iRobot without financial support.
The company reported a net loss of $77.1 million for the fourth quarter of 2023. Although its cash reserves increased from the previous quarter to $134 million, they are still lower than a year earlier. Part of this amount was withdrawn from restricted reserves for inventory purchases.
Amid losses, iRobot is trying to stay in the market by betting on new products, but recognizes the risks associated with demand, competition and economic conditions. The company is looking for ways to overcome the crisis, including the possibility of attracting investors or selling the business.
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