Since taking out that mortgage from the Carlyle Group and dealing with growing competitors from Chinese language producers, iRobot has not discovered a technique to turn into worthwhile once more and says it expects to incur losses for “the foreseeable future.” With no clear path to paying off the debt, the long run seems bleak for the inventor of the robotic vacuum.
In its quarterly monetary report printed March 12, the corporate, which noticed its income within the U.S. drop by 47 % within the fourth quarter, stated it had “initiated a proper strategic evaluation to guage a broad vary of alternate options, together with, however not restricted to, exploring a possible sale or strategic transaction and refinancing our debt.”
If its new line of merchandise is just not a hit, which the report notes is completely attainable as a result of “shopper demand, competitors, macroeconomics situations and tariff insurance policies,” and no different recourse is discovered to repay its debt, iRobot says the corporate could also be unable to proceed past 12 months.