iRobot says there is “substantial doubt” about it as a “going concern”

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Ars Technica 13h ago

iRobot says there is “substantial doubt” about it as a “going concern” - Ars Technica

Quick Summary:

After Amazon bid failure, firm cut 50% of staff and is launching new robots.

The company saw revenue drop 47 percent in the fourth quarter, it is actively seeking to renegotiate its largest loans, and it has launched a "formal strategic review" to consider refinancing, sale, or other alternatives.iRobot's fortunes have changed dramatically since 2022, when Amazon announced a $1.7 billion bid to buy the struggling but prominent firm.

Investors took iRobot at its word, and its stock price had fallen nearly 40 percent as of 10:20 am Wednesday from the day before.