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,

Earlier this week, we heard that iRobot was scrapping almost its entire robot vacuum range and replacing it with four shiny new models. It's a bold move, but I think necessary, given how far iRobot was starting to lag behind the rest of the best robot vacuums on the market.

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

iRobot, maker of the Roomba autonomous vacuum, has suffered over the past few years from slumping sales, failed new products, and an aborted takeover attempt by Amazon.

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.