iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, announced today it will issue its fourth-quarter 2023 financial results after market close on Monday, February 26, 2024. The earnings press release will be posted at https://investor.irobot.com/news-releases.
The European Union is making life a lot more challenging for businesses across the globe, raising the stakes for companies that interact with the world's third-largest economy.
The collapse of iRobot's $1.4 billion sale to Amazon will test the cash-strapped robot vacuum cleaner maker's ability to repay a $200 million loan it took from private equity firm Carlyle Group last year. Regulatory filings shed light on how the terms of the Carlyle loan that iRobot accepted last July to tide itself over during the deal's regulatory review are weighing on its finances and have added to the pressure to cut costs. The Bedford, Massachusetts-based company said on Monday its agreement with Carlyle requires it to set aside $75 million out of a $94 million deal break-up fee it will receive from Carlyle towards repaying the loan.