iRobot Corporation (IRBT) declined after-hours after announcing its results for the fourth quarter and fiscal 2021. IRBT values at $61.52, losing more than 15% compared to yesterday’s closing price. The stock closed at $72.91 at the end of the last trading session. The stock volume traded in the last trading session was around 1.25 million shares. The current market cap of the company is around $1.97 billion.
IRBT: Q4 and Fiscal 2021 Key Financials
- iRobot Corporation (IRBT) revenue in Q4 2021 was $455.4. It is a decline of 16% as compared to the $544.8 million revenue of Q4 in 2020. Fiscal year revenue was $1.565 billion, and it is an increase of 9% compared to the $1.430 billion revenue in fiscal 2020.
- The Q4 2021 net loss per share was ($1.17), compared to $0.46 in the Q4 of 2020. For fiscal 2021, net income per share was $1.08 compared to $5.14 of fiscal 2020.
Key milestones achieved in 2021
- iRobot concluded 2021 with 14.0 million customers, up 44% from fiscal 2020.
- iRobot continued to improve its Genius Home Intelligence Platform in Q4 2021 and created USP through its software.
- In fiscal 2021 iRobot passed the 40 million robots sold mark.
- On November 15th, 2021, iRobot acquired Aeris Cleantec AG, a rapidly expanding provider of high-end air purifiers.
IRBT CEO’s remarks about fiscal 2021
We provided fourth-quarter financial results within the constraints we set in late October, said iRobot CEO, Colin Angle. Despite supply chain issues, we made considerable strategic progress in 2021. With Aeris in November, we expanded product diversity and supply chain continuity, resilience, and agility while increasing the connected client base by 44%.
Conclusion
The 2022 outlook of the company seems aggressive. They are focusing on increasing revenue and growth. The company wants to increase its connected customer base by 44% in 2022. The company targets a revenue increase between 12% to 18% and EPS between 12% to 49%.
