iRobot closed Q3 with a revenue increase by 22%


iRobot, the company of the famous Roomba and Braava vacuum cleaners, announced its financial results for the third quarter 2017. During the period, total revenue grew 22% over Q3 last year.
«Based on our Q3 results, and on our Q4 outlook fueled by continued positive momentum in the United States and in EMEA, where growth is accelerating – said Colin Angle, chairman and chief executive officer of iRobot – we are increasing our full-year 2017 financial expectations. The U.S. and EMEA are now expected to grow 40% and 45% respectively for the full year.»
iRobot expectations for the end of 2017 are to reach a revenue of 870 to 880 million dollar, a 33 34% increase over 2016 consumer revenue, operating income of between 55 and 65 million dollar, and EPS of between 1.65 and 2.00 dollar, including the impact of our recent European distributor acquisition.
«U.S. household penetration of robotic vacuum cleaners – continued Colin Angle – is still less than 10%, so there is plenty of runway domestically and even more overseas. With the leading global segment share, at a time when adoption is accelerating, we are in an excellent position to capitalize on the momentum to drive future growth.»