Robot became synonymous with home robots when it introduced the Roomba vacuum over 20 years ago, eventually selling 50 million models and becoming an acquisition target for Amazon. But the company gave investors a stark warning Wednesday,

After its latest financial figures were worse than forecast, the company said there’s “substantial doubt” it can survive another 12 months.

Robot’s stock fell as much as 40% early Wednesday after the maker of robot vacuums told investors that it has “” Sales were down 44% in the last three months of 2024 at $172 million versus $307 million the year prior,

Robot warned investors of a going concern to maintain enough assets to operate and pay its debts, and said it has initiated a strategic review of the business.

Robot has announced its new range of Roomba robot vacuum cleaners. Featuring four new models, the new iRobot Roomba series marks the first time that the brand has introduced LiDAR navigation. Pre-orders are expected to open on 18th March,

The loss-making company was once valued at $3.56 billion in 2021, driven by pandemic-fueled demand. It is now worth less than $200 million.