|Over a week ago|
iRobot reports Q3 non-GAAP EPS ($1.78), consensus $1.68 » 08:3211/0811/08/22
Reports Q3 revenue…
Reports Q3 revenue $278.2M, consensus $422.45M. The company's Q3 revenue performance was primarily impacted by lower orders from retailers and distributors in North America and EMEA as part of their ongoing efforts to rebalance inventory levels and, to a much lesser extent, the impact of changes in foreign exchange rates. As of October 1 the company's cash, cash equivalents and short-term investments were $89.6M compared with $63.4M as of July 2.
|Over a month ago|
iRobot announces favorable ruling in patent dispute against SharkNinja » 16:0710/1110/11/22
iRobot announced that…
iRobot announced that Administrative Law Judge Maryann McNamara issued an initial determination in favor of iRobot in the company's patent infringement action against SharkNinja Operating LLC and its related entities at the International Trade Commission. The ruling recommended a limited exclusion order in International Trade Commission Investigation No.337-TA-1252, finding that Shark has infringed valid claims of multiple iRobot asserted patents. The initial determination recommends that the ITC issue an order barring the importation of various infringing SharkNinja robotic cleaning products. Judge McNamara's initial determination and recommended remedy is now before the ITC Commissioners, with a final determination expected by February 2023. If the recommended remedy is approved by the ITC Commissioners, the exclusion order as to the infringing products will go into effect upon publication of the Commissioners' final determination, regardless of further appeals. This is iRobot's second time securing an exclusion order against respondents at the ITC, and second time asserting a lawsuit against SharkNinja. A related district court case involving the patents in this lawsuit will remain pending until the conclusion of the ITC case.
SharkNinja 'pleased' with ITC initial determination against iRobot » 10:2710/1010/10/22
SharkNinja Operating LLC,…
SharkNinja Operating LLC, a subsidiary of JS Global (JGLCF), announced that the International Trade Commission issued its initial determination in an ongoing patent case brought by iRobot (IRBT) against SharkNinja, "largely in SharkNinja's favor." The initial determination found for SharkNinja, and against iRobot, on two of the four remaining patents asserted by iRobot, and one claim of the remaining two patents, SharkNinja said in a statement. None of SharkNinja's AI Ultra products and none of SharkNinja's auto-empty robot products were found to infringe any valid patent claim, the comapny added. The initial determination found for iRobot on certain claims of two patents, which were "asserted against a small subset of SharkNinja's product line," it says. The initial determination is non-final, and is subject to review by the International Trade Commission, which should be completed by the beginning of February 2023. SharkNinja said it is "pleased with the outcome of the Initial Determination with respect to the issues on which it prevailed."
ITC judge rules some iRobot patents infringed by SharkNinja, Bloomberg reports » 15:3910/0710/07/22
iRobot prevailed in the…
iRobot prevailed in the first round in its attempt to block U.S. imports of robotic vacuums sold by JS Global's SharkNinja, Bloomberg's Christopher Yasiejko reports. International Trade Commission judge Maryjoan McNamara said that SharkNinja's robotic vacuums infringe two valid patents of four that the Roomba maker asserted, the author notes. Reference Link
ITC judge rules some iRobot patents infringed by SharkNinja, Bloomberg reports 14:4010/0710/07/22
Senators Warren, Jones ask FTC to block Amazon from buying iRobot » 10:5609/2909/29/22
U.S. Senator Elizabeth…
U.S. Senator Elizabeth Warren announced that she and Representatives Mondaire Jones, Katie Porter, Mark Pocan, Pramila Jayapal, and Jesus "Chuy" Garcia sent a letter to the Federal Trade Commission calling on the agency to oppose Amazon's (AMZN) proposed $1.65B acquisition of iRobot (IRBT), citing concerns about "Amazon's anticompetitive practices that put consumers and their privacy at risk." "I have serious concerns about the Amazon-iRobot deal - dominant companies like Amazon shouldn't be allowed to just buy their way out of competing. The FTC should oppose this proposed merger to protect competition, lower consumer prices, and rein in Amazon's well-documented anticompetitive activities," said Senator Warren. Reference Link
Senators Warren, Jones ask FTC to block Amazon from buying iRobot 10:5409/2909/29/22
iRobot, Amazon receive request for additional information from FTC » 11:5109/2009/20/22
In a regulatory filing,…
In a regulatory filing, iRobot (IRBT) disclosed that the company and Amazon (AMZN) each received a request for additional information and documentary materials from the FTC in connection with the FTC's review of the Merger. The Second Request is a next step in the regulatory review process. The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after iRobot and Amazon have substantially complied with the Second Request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Both parties expect to promptly respond to the Second Request and to continue to work cooperatively with the FTC in its review of the Merger. Completion of the Merger remains subject to the expiration or termination of the waiting period under the HSR Act and the satisfaction or waiver of the other closing conditions specified in the Merger Agreement.
Amazon.com may be more open to M&A under CEO Jassy, says DA Davidson » 09:2309/1209/12/22
DA Davidson analyst Tom…
DA Davidson analyst Tom Forte keeps his Buy rating and $151 price target on Amazon.com (AMZN) after the company disclosed a purchase of warehouse automation firm Cloostermans on Friday. With this purchase as well as the iRobot (IRBT) acquisition announced last month, Amazon is making a "concerted effort" into the robotics / automation market, the analyst tells investors in a research note. Forte further maintains that Amazon.com may be more open to acquisitions under its new CEO Andy Jassy than it was under founder Jeff Bezos.
|Over a quarter ago|
Amazon's iRobot, One Medical deals show hunt for fourth 'pillar,' Bloomberg says » 05:4408/0908/09/22
AMZN, IRBT, ONEM
Amazon's (AMZN) planned acquisitions of iRobot (IRBT) and One Medical (ONEM) are symbolic of CEO Andy Jassy's hunt for a so-called fourth "pillar," beyond AWS, Prime, and Marketplace, Bloomberg's Brad Stone reports. Reference Link