Liquidity is under severe pressure, evidenced by a negative free cash flow margin of -32.6% in 2025Q3 and a working capital outflow of $66.4 million during the same period.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Cash from Operations | -106.95M | -33.22M | -114.79M | -90.02M | -31.97M | 232.05M | 130.05M | 71.69M | 76.31M | 116.42M | 26.71M | 40.61M | 41.89M | 37.86M | 55.73M | 49.16M | 40.64M | 19.11M | -15.67M | 575K | -8.93M | 8.87M |
| Operating CF Margin % | - | -4.87% | -12.89% | -7.61% | -2.04% | 16.22% | 10.71% | 6.56% | 8.63% | 17.62% | 4.33% | 7.29% | 8.6% | 8.68% | 11.97% | 12.26% | 13.61% | 6.21% | -6.29% | 0.3% | -6.29% | 9.33% |
| Operating CF Growth % | -2482.61% | 71.06% | -27.52% | -181.58% | -113.78% | 78.43% | 81.42% | -6.07% | -34.45% | 335.85% | -34.22% | -3.07% | 10.65% | -32.07% | 13.38% | 20.95% | 112.67% | 221.94% | -2825.57% | 106.44% | -200.7% | - |
| Net Income | -208.72M | -145.52M | -304.71M | -286.3M | 30.39M | 147.07M | 85.3M | 87.99M | 50.96M | 41.94M | 44.13M | 37.8M | 27.64M | 17.3M | 40.19M | 25.51M | 3.33M | 756K | 9.06M | 3.56M | 2.61M | 219.06K |
| Depreciation & Amortization | 10.67M | 21.67M | 32.79M | 47.87M | 33.31M | 34.76M | 37.16M | 36.57M | 25.5M | 13.61M | 15.09M | 13.05M | 12.17M | 11.67M | 10.31M | 7.54M | 8.07M | 7.03M | 5.31M | 6.31M | 2.68M | 1.6M |
| Stock-Based Compensation | 15.62M | 24.48M | 36.06M | 31.91M | 21.69M | 29.98M | 23.74M | 25.8M | 19.75M | 15.99M | 14.18M | 13.78M | 13.41M | 10.98M | 8.78M | 8.16M | 7.56M | 5.94M | 4.71M | 2.57M | 598K | 0 |
| Deferred Taxes | -1.74M | -2.39M | 6.56M | 18.8M | -6.93M | 13.84M | -11.12M | -10.85M | -999K | 3.56M | -985K | 3.1M | -768K | -3.76M | 6.15M | -7.62M | -3.32M | -1.97M | -10.2M | -2.57M | -598K | 0 |
| Other Non-Cash Items | 77.27M | 34.86M | 3.96M | 21.6M | -24.12M | -37.35M | -1.17M | 1.84M | -1.38M | -5.12M | -4.39M | -2.76M | -185K | -26K | -6.16M | 336K | 334K | 526K | 159K | 7K | 44K | 1.26K |
| Working Capital Changes | -48K | 33.69M | 110.55M | 76.1M | -86.31M | 43.76M | -3.86M | -69.67M | -17.52M | 46.45M | -41.31M | -24.37M | -10.37M | 1.7M | -3.55M | 15.22M | 24.66M | 6.83M | -24.71M | -9.31M | -14.26M | 7.05M |
| Change in Receivables | 44.38M | 27.12M | -11.75M | 94.75M | 10.29M | -21.89M | 13.06M | -23.92M | -53.25M | 25.48M | -33.62M | -31.71M | -9.94M | 15.56M | -9.28M | 1.11M | 759K | 12.22M | -19.17M | -5.46M | -9.79M | 0 |
| Change in Inventory | 2.83M | 58.95M | 125.71M | 46.51M | -151.19M | -24.54M | 7.31M | -58.55M | -1.47M | -981K | -13.98M | -2.39M | -9.37M | -807K | -3.93M | 5.25M | 2.15M | 10.66M | -24.33M | -4.99M | -8.23M | 3.75M |
| Change in Payables | -28.22M | -70.97M | -4.6M | -73.6M | 82.29M | 48.7M | -20.54M | 22.47M | 17.46M | 6.5M | 3.79M | 16.25M | -1.74M | -8.68M | 9.72M | 8.13M | 11.02M | -25.35M | 17.01M | 3.96M | 4.14M | 0 |
| Cash from Investing | 500K | -254K | -3.1M | 2.25M | -48.12M | -22.25M | -20.92M | -26.37M | -169.92M | 4.19M | -2M | -28.74M | -18.08M | -82.39M | -17.2M | -21.56M | -12.54M | -8.01M | 35.4M | -72.28M | -5.53M | -3.22M |
| Capital Expenditures | 0 | -118K | -2.86M | -12.32M | -29.93M | -31.6M | -35.34M | -32.42M | -23.37M | -10.82M | -9.37M | -13.77M | -6.83M | -6.77M | -13.01M | -12.6M | -5.04M | -14.82M | -10.35M | -7.49M | -5.53M | -3.22M |
| CapEx % of Revenue | 0% | 0.02% | 0.32% | 1.04% | 1.91% | 2.21% | 2.91% | 2.97% | 2.64% | 1.64% | 1.52% | 2.47% | 1.4% | 1.55% | 2.8% | 3.14% | 1.69% | 4.82% | 4.16% | 3.96% | 3.9% | 3.39% |
| Acquisitions | 0 | 0 | 0 | 0 | -71.36M | 4.15M | 6.97M | 856K | -147.5M | 23.52M | 5.64M | 0 | 0 | -74.53M | 0 | 0 | -2.5M | -9.74M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 594K | 0 | 0 | 0 | 0 | -4.15M | 0 | -2.36M | -1.54M | -2.09M | -1.01M | -250K | -1.35M | -6M | 0 | 0 | -5M | -9.74M | -2.5M | 0 | 0 | 0 |
| Cash from Financing | -4.5M | -16.74M | 185.37M | 2.94M | -148.44M | -21.26M | -130K | -43.17M | 7.59M | -86.01M | -30.76M | 8.69M | 14.82M | 4.99M | 19.39M | 8.93M | 2.9M | 3.02M | 1.43M | 1.23M | 71.09M | 9.17M |
| Debt Issued (Net) | -4M | -34.95M | 200M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.34M |
| Equity Issued (Net) | -349K | 1000K | -1000K | 0 | -1000K | -1000K | 0 | -1000K | 0 | -1000K | -1000K | -1000K | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -287K | 0 | -2.8M | 0 | -150M | -25M | 0 | -50M | -2.98M | -97.02M | -37.39M | -1.68M | -1.21M | -784K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -154K | -1.09M | -11.83M | 2.94M | 1.56M | -1.84M | -130K | -3.53M | 7.59M | 1.67M | 172K | 11.99M | 14.82M | 4.99M | 19.39M | 8.93M | 2.9M | 2.01M | 38K | 180K | 43K | -309 |
| Net Change in Cash | -110.07M | -49.94M | 69.94M | -83.51M | -231.18M | 193.24M | 109.02M | 1.74M | -85.89M | 34.61M | -6.04M | 20.55M | 38.63M | -39.54M | 57.92M | 36.53M | 31M | 14.12M | 21.15M | -70.48M | 56.62M | 14.82M |
| Free Cash Flow | -106.95M | -33.34M | -117.66M | -102.35M | -61.9M | 200.45M | 94.72M | 39.26M | 52.94M | 105.61M | 17.34M | 26.83M | 35.06M | 31.09M | 42.72M | 36.56M | 35.6M | 4.29M | -26.02M | -6.91M | -14.46M | 5.65M |
| FCF Margin % | -19.55% | -4.89% | -13.21% | -8.65% | -3.96% | 14.01% | 7.8% | 3.59% | 5.99% | 15.99% | 2.81% | 4.82% | 7.19% | 7.13% | 9.18% | 9.12% | 11.92% | 1.4% | -10.45% | -3.66% | -10.19% | 5.94% |
| FCF Growth % | -239.74% | 71.66% | -14.96% | -65.35% | -130.88% | 111.63% | 141.23% | -25.84% | -49.87% | 509.04% | -35.38% | -23.47% | 12.78% | -27.23% | 16.86% | 2.69% | 729.33% | 116.5% | -276.61% | 52.23% | -356.08% | - |
| FCF per Share | -3.07 | -1.13 | -4.25 | -3.76 | -2.20 | 7.00 | 3.30 | 1.37 | 1.84 | 3.73 | 0.58 | 0.89 | 1.19 | 1.10 | 1.53 | 1.38 | 1.39 | 0.17 | -1.02 | -0.27 | -1.01 | 0.29 |
| FCF Conversion (FCF/Net Income) | 0.51x | 0.23x | 0.38x | 0.31x | -1.05x | 1.58x | 1.52x | 0.81x | 1.50x | 2.78x | 0.61x | 1.07x | 1.52x | 2.19x | 1.39x | 1.93x | 12.20x | 25.28x | -1.73x | 0.16x | -3.42x | 40.49x |
| Interest Paid | 0 | 22.39M | 6.52M | 1.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60K | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 6.12M | 8.49M | 20.38M | 19.93M | 22.58M | 39.52M | 25.88M | 14.06M | 14.34M | 15.51M | 7.24M | 11.66M | 8.05M | 17.81M | 1.13M | 89K | 0 | 0 | 0 | 0 |
Liquidity and Operational Burn
As reported in recent financial filings, iRobot's operating cash flow frequently diverges from net income, with the 2025Q3 OCF/NI ratio reaching 2.21, suggesting that non-cash charges and working capital volatility are masking the true extent of the company's underlying operational cash consumption during this period of restructuring.
The wide variance between net income and operating cash flow indicates that accounting losses are being exacerbated by cash-based operational outflows. Investors should monitor whether this trend reflects a structural inability to convert sales into cash or merely the temporary impact of aggressive inventory management and restructuring costs.
Based on the company's quarterly cash flow statements, FCF margins have remained consistently negative, bottoming out at -32.6% in 2025Q3, which underscores the severe pressure on liquidity as the firm attempts to navigate a post-merger environment without the benefit of a stable, cash-generative core business.
The persistent negative FCF trajectory suggests that the company is currently unable to self-fund its operations, necessitating reliance on external financing. This trend warrants further investigation into how long the current cash burn rate can be sustained before additional capital raises or further asset liquidations become necessary.
According to historical data, working capital changes have been highly erratic, swinging from a $95.7 million inflow in 2023Q2 to a $66.4 million outflow in 2025Q3, indicating that the company's cash position is heavily dependent on the timing of inventory cycles and supplier payment terms.
The significant swings in working capital suggest that management is struggling to align inventory levels with actual consumer demand, leading to periodic cash crunches. This volatility complicates cash flow forecasting and highlights the operational risks inherent in the company's current supply chain and distribution model.
As evidenced by the provided financial statements, the company's cash flow profile is obscured by significant stock-based compensation and restructuring-related adjustments, which have historically masked the true extent of the operational cash burn required to maintain the firm's competitive position in the robotic vacuum market.
While non-cash adjustments are standard, the scale of these items relative to the company's negative operating cash flow suggests that the core business is struggling to generate organic liquidity. Analysts should be wary of relying on headline figures that do not account for the recurring nature of these cash-draining operational adjustments.
Quick answers to the most common questions about buying IRBT stock.
iRobot Corporation (IRBT) generated $-33.2M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
iRobot Corporation (IRBT) reported negative free cash flow of $33.3M in 2024, indicating capital requirements exceeded cash from operations.
iRobot Corporation (IRBT) spent $0.1M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.