Why iRobot Stock Is Trading Lower During Wednesday's After-Hours Session

Shares of IRobot Corp. IRBT tanked following the release of its Q4 earnings report showing a miss on both EPS and sales accompanied with in-line guidance for fiscal year 2022.

The company reported a 16% decline in year-over-year Q4 revenue to $455.4 million though noted that full-year 2021 revenue showed a 9% year-over-year increase to $1.565 billion. Management noted ongoing semiconductor chip constraints and shipping delays which “impacted our ability to fulfill approximately more than $35 million in orders” and acted as headwinds on earnings results. 

IRobot Chairman and CEO Colin Angle anticipates continued supply chain issues in the first two quarters of 2022 but sees “substantial improvement in profitability and accelerated EPS expansion” into the later half of the year. In particular, he highlighted this quarter’s growth of “our connected customer base by 44%” as well as a few notable other developments including:

• Succeeded in differentiating IRobot floor care robots through superior software intelligence
• Took transformative steps to optimize the company’s go-to market strategy
• Acquired Aeris during November in order to diversify the product portfolio

IRobot Corp. is a US-based consumer robot company with a portfolio of solutions including cleaning, mapping and navigation, human-robot interaction, and physical solutions.

At the time of publication, shares of IRobot were trading 9.09% lower during after hours at $66.28. The stock has a 52-week low of $58.44 and a 52-week high of $137.79.