IRobot Faces Financial Struggles After Failed Amazon Deal

iRobot Corp, the maker of Roomba vacuums, is facing significant financial difficulties, leading to a record stock selloff as it announced a strategic review to explore potential sales or debt refinancing options. The company reported a 44% drop in Q4 revenue and widened losses, contributing to substantial doubt about its ability to continue operating. This review follows a failed acquisition by Amazon due to antitrust concerns and a significant restructuring effort that included a 50% reduction in headcount. Despite launching its largest product line to date, iRobot's future remains uncertain due to competitive pressures and macroeconomic challenges. Financial advisors Canaccord Genuity and BofA Securities have been engaged to assist with the strategic evaluation. iRobot has not set a timetable for completing this review, raising investor concerns about its viability in the coming year.