Roomba robot vacuums made by iRobot are displayed on a shelf at a Bed Bath and Beyond store in Larkspur, California, on Aug. 5, 2022.
Shares of iRobot plunged 33% on Monday after the company warned its search for a buyer has hit a substantial roadblock and its financial condition remains dire.
The Roomba maker has been vying to sell itself since March, but last week, the only remaining potential buyer withdrew from the process following a "lengthy period of exclusive negotiations," iRobot disclosed in a regulatory filing.
iRobot's future has remained uncertain after Amazon abandoned its planned $1.7 billion acquisition of the company in January 2024, citing regulatory scrutiny.
Since then, iRobot has struggled to generate cash and pay off debts, and in March warned there's "substantial doubt" about its ability to stay in business.
Amazon CEO Andy Jassy called regulators' efforts to block the deal a "sad story," arguing it would've allowed iRobot to scale and compete against rapidly growing rivals, such as China-based Anker, Ecovacs and Roborock.