iRobot Corp. (IRBT), a robotics company, on Monday announced a decline in its preliminary revenue for the fourth-quarter of 2024, amidst higher spending.
iRobot expects to report fourth-quarter revenue of around $171 million, lower than $307.5 million, reported for the same period last year.
Quarterly operating loss is projected to be around $59 million, with adjusted operating loss of approximately $47 million.
The preliminary result reflects higher-than-anticipated seasonal promotional spending to stimulate sell-through prior to its 2025 new product launches.
In addition, the firm recorded an incremental non-recurring charge in the fourth quarter of $8 million related to the write-off of excess component inventory and losses on non-cancelable purchase commitments. This is as part of its transition to a new product development paradigm with its contract manufacturers.
These had an impact on the company's fourth-quarter gross margin and operating loss performance.
Looking ahead to the full-year 2025, with the benefit of lower product costs and reduced development timelines, iRobot expects enhanced margins and improved profitability with a return to year-over-year top-line growth as it introduces new and revitalized products.
Further, the company anticipates the second half of 2025 to be stronger than the first half of the year as its product lineup ramps up.
IRBT was down at 9.09 percent at $9.50 in the pre-market trade on the Nasdaq.
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