iRobot Corporation (NASDAQ:IRBT) Q4 2023 Earnings Conference Call February 27, 2024 8:30 AM ET

Company Participants

Karian Wong - Chief Accounting Officer

Glen Weinstein - Interim Chief Executive Officer

Julie Zeiler - Executive Vice President & Chief Financial Officer

Conference Call Participants

Jim Ricchiuti - Needham & Company

Asiya Merchant - Citi

Operator

Welcome to the iRobot Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be opened for your questions following the presentation. [Operator Instructions]

I would now like to turn the call over to Karian Wong, Chief Accounting Officer. Please go ahead.

Karian Wong

Thank you, Jamie, and good morning, everybody.

Joining me on today's call are iRobot's Interim CEO, Glen Weinstein, and Executive Vice President and CFO, Julie Zeiler.

Before I set the agenda for today's call, I would like to remind everyone that today's discussion will include forward-looking statements regarding future events and our future financial performance. These statements reflect our views as of today only and should not be considered as representing our views as of any subsequent date. These statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations reflected in the forward-looking statements. A discussion of these risk factors is fully detailed under the caption Risk Factors in our filings with the SEC.

Related to our financial disclosure, during this conference call, we will reference certain non-GAAP financial measures as defined by SEC Regulation G, including non-GAAP gross margin, non-GAAP operating expense, non-GAAP operating loss and non-GAAP net loss per share. We believe that our non-GAAP financial results help provide additional transparency into iRobot's underlying operating performance and potential. Our definitions of these non-GAAP financial measures and reconciliations of each of these non-GAAP financial measures to the most directly-comparable GAAP measures are provided in the financial tables at the end of the fourth quarter 2023 and full year 2023 financial results press release we issued last evening, which is available on our website at www.irobot.com.

Also unless stated otherwise, our fourth quarter and full year 2023 financial metrics as well as the financial metrics provided in our outlook that will be discussed on today's conference call will be on a non-GAAP basis only and all historical comparisons are with the fourth quarter of 2022 and full year of 2022.

For today's call, our agenda will be as follows: Glen will briefly cover the company's quarterly and annual financial results, review important strategic milestones and outline our expectations for 2024; Julie will review our financial results in detail and offer additional insight into our 2024 guidance; then, we'll conclude our commentary with some closing remarks about prospects over the longer-term; after that, we'll open the call for questions.