|iRobot Reports Strong Second-Quarter Financial Results|
"Our outstanding second-quarter results exceeded our expectations. Based on our Q2 results, and our outlook for the rest of 2017, fueled by positive momentum in
"Our increased expectations reflect our increased confidence that U.S. and EMEA momentum will continue and that full-year revenue in those regions will grow roughly 30% and high-teens percent respectively.
"With our increased expectations for full-year revenue, we plan to reinvest a portion of the incremental profitability to capitalize on the strong U.S. and EMEA momentum and ensure our continued product leadership in a rapidly growing, competitive marketplace. We will make incremental S&M investments to further promote our Braava family of robots, building on the momentum we have seen over the past couple of quarters. In addition, we will make additional investments in R&D to accelerate our product roadmap in anticipation of new product launches in 2018."
Management provides the following expectations with respect to the fiscal year ending
(In $millions except Earnings Per Share)
*See detailed schedule at end of earnings release
Second-Quarter Conference Call
A live, audio broadcast of the conference call also will be available at:
For iRobot Investors
This press release includes Adjusted EBITDA, which is a non-GAAP financial measure as defined by SEC Regulation G. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation expense, net merger, acquisition and divestiture (income) expense, net intellectual property litigation expense, and restructuring expense. A reconciliation between net income and Adjusted EBITDA is provided in the financial tables at the end of this press release.
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Elise Caffrey, Investor Relations, iRobot Corp., (781) 430-3003, email@example.com; Matthew Lloyd, Media Relations, iRobot Corp., (781) 430-3720, firstname.lastname@example.org