2024 Q1 Form 10-K Financial Statement

#000115916724000008 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $150.0M $307.5M $890.6M
YoY Change 10.55% -43.09%
Cost Of Revenue $113.9M $249.4M $694.4M
YoY Change 23.6% -31.57%
Gross Profit $36.10M $58.13M $196.2M
YoY Change -23.92% -64.35%
Gross Profit Margin 24.07% 18.9% 22.03%
Selling, General & Admin -$24.00M $78.58M $310.8M
YoY Change -14.39% -20.1%
% of Gross Profit -66.47% 135.17% 158.42%
Research & Development $33.88M $26.95M $144.1M
YoY Change -34.94% -10.69%
% of Gross Profit 93.84% 46.36% 73.44%
Depreciation & Amortization $5.812M $11.39M $32.79M
YoY Change -41.17% -1.56%
% of Gross Profit 16.1% 19.6% 16.71%
Operating Expenses $24.20M $110.4M $460.3M
YoY Change -23.77% -16.53%
Operating Profit $11.90M -$52.23M -$264.1M
YoY Change -23.6% 23909.09%
Interest Expense $5.500M $0.00 $10.60M
YoY Change -100.0% -64.74%
% of Operating Profit 46.22%
Other Income/Expense, Net -$3.185M -$4.758M -$28.98M
YoY Change 386.01% -198.61%
Pretax Income $8.715M -$56.99M -$293.1M
YoY Change -17.82% -1136.12%
Income Tax $100.0K $6.603M $11.66M
% Of Pretax Income 1.15%
Net Earnings $8.607M -$63.59M -$304.7M
YoY Change -50.46% -1102.67%
Net Earnings / Revenue 5.74% -20.68% -34.21%
Basic Earnings Per Share $0.31 -$11.01
Diluted Earnings Per Share $0.30 -$2.28 -$11.01
COMMON SHARES
Basic Shares Outstanding 27.96M shares 27.87M shares 27.68M shares
Diluted Shares Outstanding 28.27M shares 27.68M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.4M $185.1M $185.1M
YoY Change 106.64% -21.06%
Cash & Equivalents $118.4M $185.1M $185.1M
Short-Term Investments
Other Short-Term Assets $40.86M $48.51M $48.51M
YoY Change -42.29% -20.59%
Inventory $133.3M $152.5M $152.5M
Prepaid Expenses
Receivables $39.32M $79.39M $79.39M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $371.9M $465.5M $465.5M
YoY Change -35.87% -41.04%
LONG-TERM ASSETS
Property, Plant & Equipment $34.33M $40.40M $60.04M
YoY Change -39.86% -48.46%
Goodwill $169.7M $175.1M
YoY Change 9.76%
Intangibles $4.682M $5.044M
YoY Change -53.93%
Long-Term Investments $11.00M $11.40M $11.40M
YoY Change -28.75% -30.06%
Other Assets $18.64M $19.51M $28.02M
YoY Change -48.78% -53.6%
Total Long-Term Assets $254.3M $268.2M $268.2M
YoY Change -14.17% -32.08%
TOTAL ASSETS
Total Short-Term Assets $371.9M $465.5M $465.5M
Total Long-Term Assets $254.3M $268.2M $268.2M
Total Assets $626.1M $733.7M $733.7M
YoY Change -29.34% -38.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.2M $178.3M $178.3M
YoY Change -23.52% -29.04%
Accrued Expenses $93.84M $98.00M $98.00M
YoY Change 16.17% -23.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $207.4M $287.1M $287.1M
YoY Change -31.7% -27.43%
LONG-TERM LIABILITIES
Long-Term Debt $168.6M $201.5M $201.5M
YoY Change
Other Long-Term Liabilities $19.80M $20.95M $48.56M
YoY Change -4.06% -29.39%
Total Long-Term Liabilities $214.7M $250.1M $250.1M
YoY Change 345.75% 263.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.4M $287.1M $287.1M
Total Long-Term Liabilities $214.7M $250.1M $250.1M
Total Liabilities $422.1M $537.2M $537.2M
YoY Change 12.74% 14.86%
SHAREHOLDERS EQUITY
Retained Earnings -$96.69M -$105.3M
YoY Change -137.14%
Common Stock $302.0M $291.0M
YoY Change 17.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $204.1M $196.5M $196.5M
YoY Change
Total Liabilities & Shareholders Equity $626.1M $733.7M $733.7M
YoY Change -29.34% -38.05%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $8.607M -$63.59M -$304.7M
YoY Change -50.46% -1102.67%
Depreciation, Depletion And Amortization $5.812M $11.39M $32.79M
YoY Change -41.17% -1.56%
Cash From Operating Activities $1.400M -$1.193M -$114.8M
YoY Change -95.43% 259.09%
INVESTING ACTIVITIES
Capital Expenditures $118.0K -$238.0K $2.862M
YoY Change -94.05% -90.44%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 -$33.00K $233.0K
YoY Change -111.79% -97.84%
Cash From Investing Activities -$118.0K $205.0K -$3.095M
YoY Change -105.51% -93.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $34.95M
YoY Change
Cash From Financing Activities -$29.94M -830.0K $185.4M
YoY Change -101.51% -224.88%
NET CHANGE
Cash From Operating Activities $1.400M -1.193M -$114.8M
Cash From Investing Activities -$118.0K 205.0K -$3.095M
Cash From Financing Activities -$29.94M -830.0K $185.4M
Net Change In Cash -$27.74M -1.818M $69.94M
YoY Change -107.21% -130.25%
FREE CASH FLOW
Cash From Operating Activities $1.400M -$1.193M -$114.8M
Capital Expenditures $118.0K -$238.0K $2.862M
Free Cash Flow $1.282M -$955.0K -$117.7M
YoY Change -95.68% 90.09%

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CY2023 us-gaap Nature Of Operations
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<div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:3.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:94.062%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nature of the Business</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iRobot Corporation ("iRobot" or the "Company") designs, builds and sells robots and home innovations that make life better. The Company's portfolio of home robots and smart home devices features proprietary technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. iRobot's durable and high-performing robots are designed using the close integration of software, electronics and hardware. The Company’s revenue is primarily generated from product sales through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers and through value-added distributors and resellers worldwide. </span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Subsequent Events</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As previously disclosed, on August 4, 2022, the Company entered into an Agreement and Plan of Merger (the "Original Merger Agreement") with Amazon.com, Inc., a Delaware corporation ("Parent" or "Amazon"), and Martin Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Amazon ("Merger Sub"), providing for, among other things, the merger of Merger Sub with and into iRobot, with the Company surviving the merger as a wholly owned subsidiary of Parent (the "Merger", and, together with the other transactions contemplated by the Merger Agreement (as defined below), (the "Transactions"). On July 24, 2023, iRobot, Amazon and Merger Sub entered into an amendment to the Original Merger Agreement (the "Amendment", and the Original Merger Agreement, as amended and supplemented by the Amendment, the "Merger Agreement"). The Amendment adjusted the merger consideration to reflect the incurrence of the Term Loan (see Note 9, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional information).</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the "Termination Agreement"). The termination of the Merger Agreement was approved by the Company’s Board of Directors. In accordance with the terms of the Termination Agreement, Amazon made a cash payment to the Company in the previously agreed amount of $94.0 million (the "Parent Termination Fee") on January 29, 2024. As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon, the Company made a payment of $18.8 million for professional fees incurred in connection with the Transactions. In accordance with the terms of the Credit Agreement, the Company applied $35.0 million to repay a portion of the Term Loan. The remaining $40.0 million of the Parent Termination Fee will be set aside in a restricted account to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory. See Note 9, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for additional information.</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 17, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Subsequent Events</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for additional events and details.</span></div>
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<div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company operates and reports using a 52-53 week fiscal year ending on the Saturday closest to December 31. Accordingly, the Company’s fiscal quarters end on the Saturday that falls closest to the last day of the third month of each quarter. As used in the Annual Report on Form 10-K, "fiscal 2023" refers to the 52-week fiscal year ending December 30, 2023, "fiscal 2022" refers to the 52-week fiscal year ended December 31, 2022, and "fiscal 2021" refers to the 52-week fiscal year ended January 1, 2022.</span></div>
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CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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11400000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
15100000 usd
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
100 employee
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.08
CY2023 us-gaap Advertising Expense
AdvertisingExpense
87700000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
146600000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
147200000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
178600000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
99400000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:5pt;margin-top:5pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Significant Customers</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially expose the Company to concentrations of credit risk consist of accounts receivable and cash and cash equivalents. Management believes its credit policies are prudent and reflect normal industry terms and business risk. At December 30, 2023 and December 31, 2022, one customer accounted for 17.3% and 16.6%, respectively, of the Company's accounts receivable balance. For the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022, there was one customer that accounted for 10% or more of total revenue, representing 24.0%, 22.6% and 21.8%, of the Company's total revenue, respectively.</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains its cash in bank deposit accounts and money market funds at high quality financial institutions. The individual balances, at times, may exceed federally insured limits. These deposits may be redeemed upon demand, and management believes that the financial institutions that hold the Company’s cash and cash equivalents are financially sound and, accordingly, minimal credit risk exists with respect to cash and cash equivalents. </span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 30, 2023, the financial institutions that accounted for 10% or more of total cash and cash equivalents were as follows:</span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.414%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.350%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.352%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 30,<br/>2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,<br/>2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Institution A</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Institution B</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">—%</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Institution C</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">—%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Institution D</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">—%</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Supplier</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company relies on third parties for the supply and manufacture of its products, as well as third-party logistics providers for the distribution of its products. In instances where these parties fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to customers on time, if at all. For the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, approximately 79%, 51% and 45%, respectively, of the Company's finished goods purchased during each year were from one vendor.</span></div>
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
85 employee
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.07
CY2023Q4 irbt Restructuring Liability
RestructuringLiability
700000 usd
irbt Number Of Sublease Agreements
NumberOfSubleaseAgreements
2 sublease_agreement
CY2023 irbt Property Plant And Equipment And Operating Lease Right Of Use Asset Impairment Loss
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetImpairmentLoss
4000000 usd
CY2022 irbt Property Plant And Equipment And Operating Lease Right Of Use Asset Impairment Loss
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetImpairmentLoss
3400000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3000000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2300000 usd
CY2023 irbt Property Plant And Equipment Impairment Loss
PropertyPlantAndEquipmentImpairmentLoss
1000000 usd
CY2022 irbt Property Plant And Equipment Impairment Loss
PropertyPlantAndEquipmentImpairmentLoss
1100000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-304710000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-286295000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
30390000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27676000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27214000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27687000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
475000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27676000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27214000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28162000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-11.01
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.52
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.10
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-11.01
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.52
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
18400000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
23200000 usd
CY2023Q4 irbt Refundliabilityproductreturns
Refundliabilityproductreturns
24600000 usd
CY2023Q4 irbt Refundliabilityothercreditsandincentives
Refundliabilityothercreditsandincentives
95300000 usd
CY2022Q4 irbt Refundliabilityproductreturns
Refundliabilityproductreturns
49200000 usd
CY2022Q4 irbt Refundliabilityothercreditsandincentives
Refundliabilityothercreditsandincentives
106500000 usd
CY2023 us-gaap Revenues
Revenues
890580000 usd
CY2022 us-gaap Revenues
Revenues
1183383000 usd
CY2022 us-gaap Revenues
Revenues
1564987000 usd
CY2023Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
77112000 usd
CY2022Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
60268000 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
3006000 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
6569000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
18702000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
24140000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
14500000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13500000 usd
CY2023 irbt Number Of Sublease Agreements
NumberOfSubleaseAgreements
3 sublease_agreement
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0417
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y11M12D
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
6024000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
6622000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
8510000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
2582000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
3644000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
3633000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
1276000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
0 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3048000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2268000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
CY2023 us-gaap Lease Cost
LeaseCost
10378000 usd
CY2022 us-gaap Lease Cost
LeaseCost
12534000 usd
CY2022 us-gaap Lease Cost
LeaseCost
12143000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
7781000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8187000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
8762000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
683000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6287000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1115000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year One
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearOne
5172000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6092000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
556000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Two
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearTwo
5536000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6055000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
572000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Three
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearThree
5483000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5909000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
589000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Four
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearFour
5320000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5474000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
607000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Five
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearFive
4867000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7574000 usd
CY2023Q4 irbt Lessor Operating Lease Payment To Be Received After Year Five
LessorOperatingLeasePaymentToBeReceivedAfterYearFive
840000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueAfterYearFive
6734000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
37391000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
4279000 usd
CY2023Q4 irbt Lessee Operating Lease Liability Payments Net Of Sublease Income Due
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDue
33112000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4566000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32825000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5216000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27609000 usd
CY2023 irbt Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Derivative instruments (Note 10)
CY2022 irbt Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Derivative instruments (Note 10)
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
4900000 usd
CY2023 irbt Property Plant And Equipment Impairment Loss
PropertyPlantAndEquipmentImpairmentLoss
1000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
0 usd
CY2023Q4 irbt Operating Lease Right Of Use Asset Fair Value Disclosure
OperatingLeaseRightOfUseAssetFairValueDisclosure
1500000 usd
CY2023Q4 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
0 usd
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
11100000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2300000 usd
CY2022 irbt Property Plant And Equipment Impairment Loss
PropertyPlantAndEquipmentImpairmentLoss
1100000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
5500000 usd
CY2022Q4 irbt Operating Lease Right Of Use Asset Fair Value Disclosure
OperatingLeaseRightOfUseAssetFairValueDisclosure
1600000 usd
CY2022Q4 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
600000 usd
CY2022 irbt Equity Securities Without Readily Determinable Fair Value Impairment Loss Quarterly Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossQuarterlyAmount
3900000 usd
CY2023 irbt Equity Securities Without Readily Determinable Fair Value Impairment Loss Quarterly Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossQuarterlyAmount
3900000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159288000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
166760000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
118893000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
105851000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
40395000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60909000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1400000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
2800000 usd
CY2023 us-gaap Depreciation
Depreciation
26300000 usd
CY2022 us-gaap Depreciation
Depreciation
32500000 usd
CY2022 us-gaap Depreciation
Depreciation
31100000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1400000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2200000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2300000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
173292000 usd
CY2022Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
28410000 usd
CY2022 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-583000 usd
CY2022 us-gaap Finite Lived Intangible Assets Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
0 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15361000 usd
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-4985000 usd
CY2022 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-1789000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
167724000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11260000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6532000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
7381000 usd
CY2023 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
316000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
175105000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5044000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
68059000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
63015000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5044000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
74273000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
63013000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11260000 usd
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5462000 usd
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97999000 usd
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11800000 usd
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CY2022 us-gaap Standard Product Warranty Accrual Payments
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26795000 usd
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34803000 usd
CY2023Q4 irbt Accrued Interest Current
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4500000 usd
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250000000 jpy
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51700000 usd
CY2023 us-gaap Revenues
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CY2022 us-gaap Revenues
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5000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2022Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
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CY2022 us-gaap Stock Repurchased And Retired During Period Shares
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1645172 shares
CY2022 us-gaap Stock Repurchased And Retired During Period Value
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150000000 usd
CY2023Q4 irbt Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Plans
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3 plan
CY2023Q4 irbt Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Plans
SharebasedCompensationArrangementBySharebasedPaymentAwardNumberOfPlans
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2495000 shares
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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900000 shares
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CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022Q4 us-gaap Standard Product Warranty Accrual
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CY2022Q1 us-gaap Standard Product Warranty Accrual
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CY2023 irbt Payments For Contractual Obligations
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CY2022Q4 us-gaap Standard Product Warranty Accrual
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CY2022Q1 us-gaap Standard Product Warranty Accrual
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CY2021Q1 us-gaap Standard Product Warranty Accrual
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24392000 usd
CY2023 us-gaap Standard Product Warranty Accrual Warranties Issued
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18706000 usd
CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
22155000 usd
CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
42430000 usd
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CY2023 us-gaap Defined Contribution Plan Cost Recognized
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3900000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
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3800000 usd
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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0.50
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2023 us-gaap Income Tax Reconciliation Tax Credits
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CY2022 us-gaap Income Tax Reconciliation Tax Credits
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CY2022 us-gaap Income Tax Reconciliation Tax Credits
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4160000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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CY2023 irbt Effective Income Tax Rate Reconciliation Executive Compensation
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CY2022 irbt Effective Income Tax Rate Reconciliation Executive Compensation
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 irbt Income Taxes Accrued Interest
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1800000 usd
CY2022Q4 irbt Income Taxes Accrued Interest
IncomeTaxesAccruedInterest
1200000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
10100000 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Revenues
Revenues
890580000 usd
CY2022 us-gaap Revenues
Revenues
1183383000 usd
CY2022 us-gaap Revenues
Revenues
1564987000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023 dei Auditor Firm
AuditorFirmId
238

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
irbt-20231230_cal.xml Edgar Link unprocessable
0001159167-24-000008-index-headers.html Edgar Link pending
0001159167-24-000008-index.html Edgar Link pending
0001159167-24-000008.txt Edgar Link pending
0001159167-24-000008-xbrl.zip Edgar Link pending
ex97230801clawbackpolicyap.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
irbt-12302023x10kex211.htm Edgar Link pending
irbt-12302023x10kex231.htm Edgar Link pending
irbt-12302023x10kex311.htm Edgar Link pending
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irbt-20231230_def.xml Edgar Link unprocessable
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irbt-20231230_htm.xml Edgar Link completed
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