Not even Roomba can clean up its parent company’s mess

iRobot’s has “substantial doubt” about the future of the company.

Transcript

00:00Roomba, the floor cleaning robot, has found a mess it might not even be able

00:04to clean up. Parent company iRobot says it has substantial doubt about the

00:09company's ability to continue. This news comes a little more than a year after

00:14Amazon agreed to acquire the company for 1.7 billion dollars. That deal, however,

00:19fell through due to concerns raised by European regulators. Despite the gloomy

00:24outlook, iRobot has continued to turn out new products. Just this week, the company

00:28released eight new Roombas, marking the largest product launch in iRobot's 30

00:33year history. CEO Gary Cohen remains optimistic, telling investors the new

00:38product line should begin to support year-over-year revenue growth in 2025. The

00:43company hopes the launch will boost revenue. However, it'll be an uphill

00:48battle. In its most recent earnings report, iRobot revealed revenue was down

00:5247% in the U.S. from the same period a year ago. Shares of the company are down

00:57more than 60% over the last 12 months. That'll do it for your daily briefing

01:02from the New York Stock Exchange. I'm Caroline Woods with The Street.