IRobot's market cap dropped by about $50 million, or 20%, after its CEO warned that "higher-than-anticipated seasonal promotional spending" is leading to bigger losses for the fourth quarter of 2024.
The Bedford-based robotic vacuum cleaner maker (Nasdaq: IRBT) is not expected to give its fourth-quarter and full-year financial report until late February, but the company put out a statement Monday morning ahead of a presentation later in the day at the ICR Conference 2025 in Orlando. The company is also scheduled for a presentation Wednesday at the Needham Growth Conference in New York City.
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