iRobot reports Q1 non-GAAP EPS ($1.53), consensus ($2.00)

Reports Q1 revenue $150.0M, consensus $144.98M. “We exceeded our financial expectations for the first quarter as our team executed on our restructuring plan to significantly improve iRobot’s near-term operations,” said Glen Weinstein, who served as iRobot’s interim CEO until Cohen’s appointment. “Our plan is designed to stabilize the business in the current market environment without sacrificing longer-term growth initiatives. In the first quarter, we took aggressive actions to simplify our cost structure, implement a more sustainable business model and focus on our core value drivers.”