iRobot has new Roombas, but it doesn't sound confident it'll be around to sell them

iRobot, the creator of the Roomba and the company that popularized robot vacuums in the first place, told investors on Wednesday that it has "substantial doubt about [its] ability to continue." Beyond declining sales — the company reported that revenue decreased 47 percent in the US over the prior year in its fourth quarter earnings — iRobot is also struggling to pay off its debts. The company took on a $200 million bridge loan to stay afloat while it waited for its $1.7 billion acquisition deal with Amazon to be approved, which it's still paying off. The European Commission ultimately investigated the acquisition in 2023, and rather than address its concerns, Amazon terminated the deal and paid out its $94 million termination fee. That wasn't enough to eliminate iRobot's problems, though. The company now plans to review its options and see if it can find another way to stick it out, including "refinancing the company's debt and exploring a potential sale or strategic transaction." ... Read full article.