Roomba-Maker Warns Investors It Could Die, Stock Craters

iRobot’s stock fell nearly 40% early Wednesday after the maker of robot vacuums told investors that it has “substantial doubt about the company’s ability to continue.” Sales were down 44% in the last quarter over the year prior, though the company hopes a slew of new Roombas introduced this week will help stem the decline. Roomba is synonymous with robot vacuums, having first introduced the product back in 2002. But today, the market is saturated with comparable products from companies like Roborock, Shark, and Xiaomi, which make similar robot vacuums at prices often undercutting iRobot. The company was slow to release a combination mop and vacuum robot, and customers often complain that the Roomba’s vSLAM mapping and detection technology is not as good as laser-based alternatives. Newer models do have some nice features, like an option to program them to sweep only specific areas of the home, like the kitchen. Of course, however, Roombas still cannot ascend stairs. Robot vacuums are ... Read full article.