iRobot’s revenue has tanked and it’s almost out of cash

iRobot’s revenue has tanked and it’s almost out of cash

Things continue to look bleak for the original robot vacuum maker. iRobot’s third-quarter results, released last week, show that revenue is down and “well below our internal expectations due to continuing market headwinds, ongoing production delays, and unforeseen shipping disruptions,” said Gary Cohen, iRobot CEO, in a press release. This meant they had to spend more cash and are now down to under $25 million. “At this time, the Company has no …