Bullish indicating open at $55-$60, IPO prices at $37
BEDFORD, Mass. - iRobot Corp. (NASDAQ:IRBT), currently trading at $3.28 and showing signs of undervaluation according to InvestingPro analysis, announced Friday it will launch a new multi-platform marketing campaign on June 16, its first since 2023. The campaign featuring the tagline "Roomba. Made for This" will air on streaming services including Hulu, Amazon Prime Video, Peacock, and Paramount+.
The television spots, created by The Boathouse agency, showcase the Roomba vacuum cleaner handling challenging cleaning scenarios including messes created by children, a slime-shooting volcano, a dog, and a ketchup bottle.
"This is more than just an ad campaign," said Athena Kasvikis, Senior Vice President and Chief Marketing Officer at iRobot. "It’s an acknowledgment of our legacy of developing innovative floor cleaning technology that helps make your life just a little easier."
The campaign follows iRobot’s introduction of new Roomba vacuums and 2-in-1 vacuum and mop products earlier this year. These products feature debris-compacting systems and retractable dual-spinning mop pads, according to the company’s press release statement.
iRobot, which introduced its first Roomba robot vacuum in 2002, reports it has sold more than 50 million robots worldwide. The company indicated additional new products are planned for release later in 2025.
In other recent news, iRobot Corporation has extended its waiver period with lenders, as detailed in a recent SEC filing. The company has amended its Credit Agreement, pushing the waiver period to August 14, 2025, allowing it to bypass certain covenant obligations. As part of this amendment, iRobot made a $4 million prepayment and issued stock warrants to lenders for 5% of its outstanding shares. Additionally, iRobot announced changes to its board of directors’ compensation structure, introducing a quarterly cash retainer for committee members and replacing stock awards with cash payments starting in June 2025. This move is part of a strategy to attract and retain experienced professionals. In another development, Dr. Ruey-Bin Kao will not seek re-election to iRobot’s Board of Directors. The company confirmed that Dr. Kao’s decision is not due to any disagreements with its operations or policies. These changes highlight iRobot’s ongoing strategic adjustments and governance updates.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.