iRobot closed a solid second quarter 2021

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For the second quarter of 2021 iRobot reached a revenue of 365.6 million dollar, an increase of 31% from 279.9 million dollar in the second quarter of 2020. The growth primarily reflected healthy demand from retailers in North America and from the company’s retail and distribution partners in Emea. Revenue for the first half of 2021 recorded a 668.9 million dollar versus 472.4 million in the first half of 2020. The second-quarter 2021 revenue performance was highlighted by 40% growth in the U.S., 29% in Emea and 7% in Japan over the prior year period. Mid-tier and premium robots, which accounted for 82% of total quarterly robot sales, marked a 42% revenue growth.

Colin Angle, chairman and chief executive officer of iRobot

«We delivered a solid second-quarter financial performance – explains Colin Angle, chairman and chief executive officer of iRobot – as we navigated an increasingly challenging supply chain environment. Our results were generally in line with our plans entering the quarter despite 17 million dollar in orders that we could not fulfill due to Covid-related disruptions to shipping activities in southern China in late June. Revenue grew 31% over last year’s second quarter primarily due to strong orders for our mid-tier and premium floor cleaning robots from retailers in North America and from our retail and distribution partners across Emea.»

Many actions have been made by the company to strengthen e-commerce activities. iRobot estimates that the second-quarter 2021 revenue to support e-commerce, which spans the company’s own website and app, dedicated e-commerce websites and the online arms of traditional retailers, grew by 20% over the second quarter of 2020 and represented 66% of second-quarter 2021 revenue. iRobot’s direct-to-consumer (DTC) revenue reached 45 million dollar, recording an increase of 36% compared the prior year’s second quarter.

The company also reported some difficulty with the supply chain. «The semiconductor chip shortage, which continues to disrupt a wide range of industries -said Angle – is constraining our ability to fulfill anticipated second-half orders.. To manage through this short-term turbulence, we are focused on carefully managing channel and product mix, adjusting promotional activities, qualifying new alternative suppliers, optimizing inventory levels and reducing our second-half spending plans. As we balance investing for the future with cost management discipline, we anticipate that our second-half profitability will be aided by the expected reinstatement of a tariff exclusion covering all of 2021. Accordingly, we have updated our 2021 outlook to reflect these and other dynamics.»

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