The robotic vacuum has made inroads into the overall vacuum market since Roomba's inception in 2002 and now constitutes about 15% of the global industry (defined as vacuums over $200 apiece), up from 5% in 2009.
IRobot's SUGV has reportedly garnered positive reviews from in-field military users, which could bode well for the product after setbacks in government spending.
Because of its scalable cost structure, iRobot should be able to continue expanding profitability as deliveries increase. Read more
Some of iRobot's planned product offerings, such as robots for cleaning pools and doing other household chores, may enter more-established markets with less opportunity for growth.
Although we like that management and directors own a substantial portion of shares, these insiders have been rapidly selling shares since the initial lock-up period ended in early 2006.
IRobot faces substantial competition for its military robotics from British firm QinetiQ, which manufactures the Talon (which competes against iRobot's PackBot) and the Dragon Runner 10 (which competes against the FirstLook). Read more
Three former Massachusetts Institute of Technology researchers--current CEO Colin Angle, former chairwoman Helen Greiner, and former chief technology officer Rodney Brooks--founded iRobot in 1991. We think Angle's pay over the past several years has Read more
Based in Bedford, Mass., and founded by MIT researchers, iRobot designs small, artificially intelligent consumer and military robots. The company's most successful products Read more
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