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iRobot Reports Second - Quarter 2021 Financial Results Second - Quarter Revenue Grew 31 % Despite Supply Chain Challenges ; Company Updates Full - Year 2021 Outlook Due to Semiconductor Chip Shortage ; Company Announces Plans to Execute a $ 100 million Accelerated Share Repurchase BEDFORD , Mass . , July 28 , 2021 / PRNewswire / -- iRobot Corp. ( NASDAQ : IRBT ) , a leader in consumer robots , today announced its financial results for the second quarter ended July 3 , 2021 . Robot Colin Angle , chairman and chief executive officer of iRobot , stated , " We delivered a solid second - quarter financial performance as we navigated an increasingly challenging supply chain environment . Our results were generally in line with our plans entering the quarter despite $ 17 million in orders that we could not fulfill due to COVID - related disruptions to shipping activities in southern China in late June . Revenue grew 31 % over last year's second quarter primarily due to strong orders for our mid - tier and premium floor cleaning robots from retailers in North America and from our retail and distribution partners across EMEA . " " Overall , retailer demand trends and consumer interest in our products remain favorable , " continued Angle . " However , the semiconductor chip shortage , which continues to disrupt a wide range of industries , is constraining our ability to fulfill anticipated second - half orders . To manage through this short - term turbulence , we are focused on carefully managing channel and product mix , adjusting promotional activities , qualifying new alternative suppliers , optimizing inventory levels and reducing our second - half spending plans . As we balance investing for the future with cost management discipline , we anticipate that our second - half profitability will be aided by the expected reinstatement of a tariff exclusion covering all of 2021. Accordingly , we have updated our 2021 outlook to reflect these and other dynamics . " Angle concluded , " Despite this temporary supply chain headwind , we remain confident in our strategic direction . Although visibility is limited right now , we believe our efforts to enhance our supply chain resiliency will help lead to improved availability of components starting in the beginning of next year and steadily strengthen as we move into the second half of 2022. With household penetration still low , a growing global connected customer base and many exciting growth initiatives now underway or in the advanced planning stages , we believe that our exit trajectory for the second half of 2022 in combination with continued strategic progress will set the stage for sustaining solid annual top - line expansion that can be converted into improving double - digit operating profit margins , substantial EPS growth , and robust operating cash flow generation . Our upcoming plan to execute a $ 100 million Accelerated Share Repurchase agreement demonstrates our confidence in our strategic direction and in our ability to capitalize on the exciting opportunities that lie ahead . " Financial Performance Highlights Revenue for the second quarter of 2021 was $ 365.6 million , an increase of 31 % from $ 279.9 million in the second quarter of 2020. The growth primarily reflected healthy demand from retailers in North America and from the company's retail and distribution partners in EMEA . Revenue for the first half of 2021 was $ 668.9 million versus $ 472.4 million in the first half of 2020 . The second - quarter 2021 revenue performance was highlighted by 40 % growth in the U.S. , 29 % in EMEA and 7 % in Japan over the prior year period . 42 % revenue growth in mid - tier and premium robots , which accounted for 82 % of total quarterly robot sales . We estimate that iRobot's second - quarter 2021 revenue to support e - commerce , which spans the company's own website and app , dedicated e - commerce websites and the online arms of traditional retailers , grew by 20 % over the second quarter of 2020 and represented 66 % of second - quarter 2021 revenue . iRobot's direct - to - consumer ( DTC ) revenue of $ 45 million grew 36 % from the prior year's second quarter . The company's second - quarter 2021 GAAP operating loss was $ 3.0 million , compared with GAAP operating income of $ 70.3 million in the second quarter of 2020. Second - quarter 2021 non - GAAP operating income of $ 9.0 million compared with non - GAAP operating income of $ 40.5 million in the same period one year ago . The company's second - quarter 2020 GAAP and non - GAAP operating profitability benefited from the timing and impact of receiving an exclusion from Section 301 tariffs . GAAP operating income for the first six months of 2021 was $ 3.3 million , compared with GAAP operating income of $ 50.1 million in the first half of 2020. First - half 2021 non - GAAP operating income was $ 23.9 million versus non - GAAP operating income of $ 26.1 million in the same period one year ago . iRobot's GAAP net loss per share was $ 0.10 for the second quarter of 2021 , compared with GAAP net income per share of $ 2.07 in the second quarter of 2020. Non - GAAP net income per share was $ 0.27 for the second quarter of 2021 versus non - GAAP second - quarter 2020 net income per share of $ 1.06 . First - half 2021 GAAP net income per share was $ 0.16 , compared with $ 1.42 in the first half of 2020. First - half 2021 non - GAAP net income per share was $ 0.68 , compared with $ 0.73 in the first half of 2020 . As of July 3 , 2021 , the company's cash , cash equivalents and short - term investments were $ 415.8 million , compared with $ 500.8 million as of April 3 , 2021 and $ 483.7 million at the end of 2020. The company , which has no debt , also has access to an unsecured revolving line of credit of $ 150 million , with an additional $ 75 million accordion feature . Second - Quarter and Recent Business Highlights During the second quarter of 2021 , the company repurchased 446,954 shares of common stock at an average purchase price of $ 111.85 per share , totaling approximately $ 50 million . On June 3 , 2021 , iRobot announced the appointment of Faris Habbaba as EVP and Chief Research and Development Officer . For the 7th consecutive year , RoombaⓇ was a featured product in Amazon's Prime Day event , which was held on June 21-22 , 2021. Roomba was cited by Amazon as a top - selling product . The company's community of engaged , connected customers who have opted - in to its digital communications grew to 11.6 million , an increase of 67 % from the second quarter of 2020 . Roomba and Braava were cited as best - in - class floor cleaning robots in Consumer Reports ( North America ) , Fortune ( North America ) , TechRadar ( EMEA - United Kingdom ) , Xataka ( EMEA – Spain ) , Lee ( Japan ) and Story ( Japan ) . iRobot is planning to hold an Investor Day later this year . Additional details about this event will be made publicly available in advance . Share Repurchase Plans iRobot also announced that it plans to enter into an accelerated share repurchase ( " ASR " ) agreement to repurchase $ 100 million of its common stock , subject to the terms of the ASR agreement . The planned ASR is expected to be executed next month . The company will fund the ASR from cash on hand . iRobot plans to file a Current Report on Form 8 - K when the ASR is formally executed .