Americans haven't been to the moon since 1972. Why? It’s […]
iRobot Corp. announced on December 14, 2025, that it has filed for bankruptcy. The company will be taken private by Shenzhen Picea Robotics, a key supplier and lender.
This decision comes after years of financial difficulties for the robotic vacuum maker.
Colin Angle, co-founder and former CEO of iRobot, expressed his disappointment regarding the bankruptcy filing.
He described the situation as 'profoundly disappointing' and 'a tragedy for consumers.' Angle emphasized that this outcome was avoidable and detrimental to the robotics industry and the American innovation economy.
In a court filing, iRobot reported having between $100 million and $500 million in assets and liabilities.
The company owes nearly $100 million to Picea Robotics and has additional debts including $5.8 million to GXO Logistics and about $3.4 million to U.S. Customs and Border Protection for unpaid tariffs.
Following the bankruptcy announcement, shares of iRobot plummeted by more than 72% on December 15, 2025.
The company has faced increasing competition from rivals such as Anker, Ecovacs, and Roborock, which have been gaining market share with lower-priced products.
iRobot has struggled with supply chain issues that have impacted its ability to deliver products. The company’s financial outlook worsened after Amazon abandoned its planned $1.7 billion acquisition in January 2024, citing regulatory scrutiny from the European Union and the U.S. Federal Trade Commission.
After the deal fell through, iRobot laid off 31% of its staff and Angle stepped down as CEO and board chair.
Gary Cohen, the current CEO of iRobot, stated that the restructuring plan under Shenzhen Picea Robotics aims to secure the company's long-term future. Although the bankruptcy proceedings are underway, iRobot has assured customers that product functionality and support will continue as usual.
The company reported third-quarter sales of $145.8 million for 2025, down nearly 25% from $193.4 million in the same period last year. iRobot currently holds around $190 million in debt, which adds to the challenges it faces moving forward.
Americans haven't been to the moon since 1972. Why? It’s […]
Flashback: The U.S. dollar fell more than 10% in the […]
Over the last few years, the global economy has started […]
Every time you ask ChatGPT a question or stream a […]
In 2024, Africa attracted $97 billion in foreign direct investment […]
In late March 2025, Tesla (TSLA) unveiled humanoid robots that […]
Earlier in 2025, the U.S. government bought a 15% stake […]
Most budgets fail within the first month. Not because people […]
The True Cost of Homeownership Most people drastically underestimate what […]
What Is a REIT? A Real Estate Investment Trust (REIT) […]
