iRobot Corporation (NASDAQ:IRBT) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET

Company Participants

David Calusdian - IR, Sharon Merrill Advisors
Gary Cohen - CEO
Julie Zeiler - EVP & CFO

Conference Call Participants

Mike Latimore - Northland Capital Markets
Chris Grenga - Needham

Operator

Hello, everyone, and welcome to this iRobot’s Third Quarter 2024 Financial Results Conference Call. At this time, all participants have been placed in a listen-only mode and a question-and-answer session will follow the company's prepared remarks. Please note that today's call is being recorded.

And I would now like to turn the call over to David Calusdian from the company's Investor Relations firm, Sharon Merrill Advisors. Please go ahead, sir.

David Calusdian

Thank you, Jen, and good morning, everyone. Joining me on today's call are Gary Cohen, iRobot's CEO; and Julie Zeiler, Executive Vice President and CFO. At the outset,

I would like to remind everyone that today's discussion will include forward-looking statements regarding future events and future financial performance. These statements reflect the company's views as of today only and should not be considered as representing its 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 the company's filings with the SEC.

Related to the company's financial disclosures during this conference call, the speakers will reference certain non-GAAP financial measures as defined by SEC Regulation G, including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP operating income and loss and non-GAAP net income and loss per share. Management believes that these non-GAAP financial results provide additional transparency into iRobot's underlying operating performance and potential. Definitions of these non-GAAP financial measures and reconciliations of each of these non-GAAP financial measures to the most directly-comparable GAAP measure are provided in the earnings presentation included in the Q3 2024 earnings conference call event details, which is available on the company's website at www.irobot.com.

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

On today's call, Gary will briefly cover the company's quarterly results, review important strategic milestones and outline the company's expectations for the fourth quarter. Julie will review iRobot's financial results and provide additional insights regarding the company's full-year outlook. Gary will then provide closing remarks before we open the call for questions.