Good afternoon, everyone. I love the afternoon spot because I've been talking all day, so I get a chance to really raise my voice. My name is Gary Cohen. I am CEO of iRobot. I've been here for nine months already. Time has really flown. My background is consumer products, many years with some of the most iconic brands and consumer, but I also have significant turnaround experience, which is why I joined iRobot. I'm going to also introduce Karian Wong, and then we'll take you through the iRobot story. Hi, everyone. I'm Karian Wong. I've been with iRobot since 2017, starting as a Chief Accounting Officer, handling the accounting and tax organization, and most recently in the interim CFO role in the beginning of December. All right, we'll get through the forward-looking statement comments. Why did I join iRobot? iRobot was the category creator in robotic floor cleaning. We have a significant global iconic brand and a strong history of innovation. But we also have significant growth opportunity, which we want to talk to you about. The category is prime for rebounding and growth. And one of the main reasons I joined, like Karian here, is we have a very strong, passionate team that want to be part of this turnaround story. Briefly, on the left, you can see our most recent information in terms of our market cap and enterprise value. We just did a pre-release this morning, and we announced that our cash at the end of the year is approximating $134 million, so a significant improvement as we end the year. iRobot's been around for about 30 years. It was founded by MIT colleagues back in the '90s. Roomba, the brand, the first iRobot brand, was invented in 2002, and we became a pure consumer products company in 2016. Post the Amazon acquisition termination, I became the first outside CEO, and I joined this past May, and when I joined, I created a comprehensive turnaround plan called iRobot Elevate that I'll take you through right now. Our goal is to create shareholder value in any way we can, most importantly focusing on getting our financial house in order. That includes reducing our operating expenses, reducing our operating income losses, reducing our cash flow losses, and improving our gross margins so that we become a true consumer products growth story. It's all about getting consumer insights and focusing on this iconic brand that we have so we can develop new products and innovate and bring products to market faster. We've reduced the size of the company by 50%, and there's significant cost opportunities that we have to be able to improve our profitability and our top-line growth, and because we have reduced the size of our company, it's imperative that we retain and develop our best talent. Let me tell you a little bit about the iRobot transformation story. We had many years where we had several gaps in both market and consumer opportunities. We had a high fixed cost R&D model where we directed everything with our contract manufacturers. We told them what piece parts to buy. We had a lot of people in our headquarters that were doing engineering drawings, a very high cost R&D model. Also, we were working on a lot of non-core ideas, so as Karian will explain in a minute, we had significant R&D expenses everywhere. When the COVID run-up happened, our category took off. We grew actually at twice the rate of other home goods categories. The problem is we invested in overheads, assuming we're going to be a $2 billion company, and that never happened. We also had product costs that were over-engineered, so as a result, our gross margins weren't competitive. When you factor all that in, it was a recipe for significant operating income losses. We've spent the better part of the last year unwinding all of that so we can become what is our model today, a consumer-focused, marketing-driven company with an asset-light model that will allow us to innovate and get to market faster. We're going to focus on consumer insights. We're going to hold our OEM relationships much more accountable for developing products so we can get better margins. And we've reduced overhead costs significantly. And it's all about delighting the consumer with consumer-driven innovation. We have seven items of why iRobot will win again. We call this our reasons to believe that we've taken our employees through as well as our investors. I'll take you through a page on each of these items right now. Number one, we have a leading global brand with a large install base in a very now growing market. iRobot brand itself resonates with consumers and customers. We have strong market share in many of our markets. Importantly, even in markets where competitors have come in, we have strong brand ratings and awareness, favorability, consideration, and trust. And what gives us the confidence of growth is the expected category rebound, focusing on a couple of factors. One, starting in Europe right now, there are what's called multifunctional cleaning devices. The category emerged over a couple of years ago where first it was vacuum only, and then it was vacuum and mopping together. Now you can buy premium products at significant premium prices that will clean these mop pads for you. They will clean the mop pads and wash the mop pads. They will air dry the mop pads, and some of the more expensive products will heat the mop pads. These products are helping fuel double-digit growth in our European markets, and we're not playing. We just launched our first multifunctional cleaning device at the end of the fourth quarter in 2024, so significant opportunity for growth. These products are now coming into the United States. We and one of our competitors just launched a product in Q4 2024. They're going to be coming. They're going to help fuel category growth. Number two, it's now been four or five years since the post-COVID run-up. Many consumers are ready to buy new products. And with these new premium-priced products that are going to delight consumers, we know that they're going to be ready to buy new products. And finally, it's still a relatively low household penetration category. In many of our markets, it's less than 20%. So with our new product lineup, with these new premium-priced products, we know that the category will rebound and take off. So we're very optimistic about the category opportunity. One of the strengths of iRobot is our extensive global omnichannel distribution network. We really are distributed everywhere. If you look at the nameplates below, you know Amazon, Costco, Walmart, Best Buy, we're in home goods centers. We own retail in Japan where we're very prominently displayed. Half our business is D2C and e-commerce. The other half is retail, so we have to play where our consumers are. Many of them go to retail, and they buy products. Sometimes they go shopping, and they buy products online at our retail, so we have to partner and be everywhere. In fact, our direct-to-consumer business doubled in the last couple of years. Importantly, at retail, we have clear and prominent merchandising, prominent visibility. We invest in premium merchandising displays so we get the best shelf space possible to showcase our products, and in many of our countries, we have dedicated merchandising reps who not only keep the shelves clean, launch our new products, but they also recommend products to consumers. Number three, we have a highly valued intellectual property portfolio. We have patents not only in robotic vacuums, but also in mopping and other categories, and also a lot on software and software navigation. In fact, we are very aggressive in protecting our portfolio. If you saw from our Q3 results, we had a negotiated settlement recently. Our new model of keeping all of our high innovation in our Boston headquarters will allow us to continue to develop IP as we bring new products to market. What we've done fundamentally is taken what we call a high fixed cost R&D center and turned it into an asset-light model so we can get to market faster with better products. This is allowing us to improve our gross margins. We launched several products in the fourth quarter of 2024 that were margin accretive as part of this new model. Importantly, our entire 2025 lineup will be launched at margin accretive gross margins based on this new model. How did we do that? As I said, it's giving our OEMs much more latitude in what they can buy and how they make products. It's also getting our fixed costs down, getting our R&D and supply chain costs down to industry standards. And that is allowing us to half the amount of time that it takes to get products to market. We've forged new relationships with many of our OEM partners. And importantly, all the product that comes from the United States no longer comes from China. So it's coming from other markets. And we've diversified our supply chain now where we produce products in China, Malaysia, and Vietnam. Our focus is on leading innovation. So these are some of the products we just launched in 2024, as I said, that all have margin improvements versus the products that they replaced. And we'll continue to close technology gaps that we had versus competitors as we bring out our 2025 new product lineup. And that's really what we're most excited about. So we've got a core group of folks in Boston. We call them iRobot Labs, and they're working on innovation and IP. We're now partnering with OEMs, our own partners as well as third parties who work in China to be able to execute software and engineering and work with our OEM partners. We are totally revamping our new product lineup in 2025 with margin accretive new products that have features that delight consumers. And then we'll continue to build upon those products with very much of a consumer-centric mindset, delighting consumers at every touchpoint, including upgrading our app for all of our new products in 2025. What gives me great delight, and I wish I had this in some of my prior consumer products, we have a proprietary data set that really sets us apart from most categories. To get the best user experience of our product, you have to use an app, and that interface allows us to get information on consumers, how they use the product, how often they use the product, where they clean, how often they clean, and it also gives us machine learning capabilities where on some of our premium products with cameras, we can actually detect where there are obstacles and give feedback to consumers and give them real-time information in terms of how they can best clean their products, and that makes the cleaning experience much better for them, so we have millions of robots that are connected to this app on a regular basis. We have billions of historical cleaning jobs, hundreds of millions of maps that are created, and these mapping exercises give people the best experience of using our products, so this data set is very critical to us and is something that we're going to be leveraging going forward as we develop new products, and as I mentioned, we have an experienced, energized, focused team that want to be part of a turnaround, and that's what is most exciting to me, that we have people that really want to be part of this story, like Karian, folks that are really committed to making this turnaround work, so Elevate is all about developing robust innovation roadmap to give us that growth beyond this year, and it's really about fundamentally changing the way we do business. That will restore profitability, get us back to operating income, get us back to top-line growth, and eventually getting back to positive cash flow. And that's what it's all about. We're starting to see that evidence in the P&L now. We're in 2025, and it's really been a very short time period to get to where we are now, but I'm very excited about where we're going. So with that, I'm going to let Karian take you through the financial update. Thank you, Gary. As Gary mentioned, iRobot Elevate, one of the top priorities is to improve our financial performance. And if you look at the key items, they are improving gross margin, adjusting and re-architecting our operating expense to the size of our current business, and then ultimately generate cash flow positive in the long run. And if you look at 2024, we have made significant progress against the restructuring target that we set earlier in 2024 after the terminations of the merger agreement with Amazon. And during 2024, we have reduced our headcount by almost 50%. And how did we do that? We did that by re-engineering the way we do business, streamline our business, and improve efficiency. And then in addition, earlier this year in 2024, we set a very aggressive target to reduce our sales and marketing expense. In 2023, our sales and marketing expense was 22% of our revenue, a lot higher than our industry benchmark and for the size of our business. We worked diligently during the year, and through Q3, we have reduced the expenses by $38 million, representing about 19% of revenue. Earlier this morning, in the release, we confirmed that we are exceeding our target on expense reductions that we set out earlier this year. If you look at R&D expense, in 2023, our R&D expense was about 15% of revenue. Through Q3 of this year, we have reduced our expenses by $33 million, which represents roughly about 10% of revenue. We continue to make progress to resize our expense structure to align with the industry market and also the size of our business. On the gross margin side, Gary mentions that one of the top priorities is to margin expansion. The three products that we launched this year in 2024, all of which have improved margins compared to the product that was replaced. For the 2025 new product that we're launching under the operating model that Gary has discussed, all of them are going to have margin accretions in 2025, which we're very excited about. Now, on the balance sheet side, we continue to make progress in strengthening our balance sheets. You've seen that on the inventory side. We've made tremendous improvements from 2022, where in Q3, our inventory was elevated to almost over $400 million. And through the last couple of years, we worked diligently to make sure that we improve our working capital efficiency and reduce our inventory balance. At the end of Q3, it was about $149 million, and we'll provide more details during our Q4 earnings call. But the improvement in Q3 resulted in a much improved state in inventory. And we also made tremendous improvements on our cash, reducing cash burn. Earlier this morning, we talked about our expected cash to end at around $134 million, which included the restricted cash of $40 million that we received during Q4, but it's significantly improved, continued to improve our cash burn from Q4 to Q3. With the launch of 2025 and also our insights of a more robust return to growth, which we also expect to see in the U.S., we're expecting top-line growth in 2025, with the second half being stronger than the first half as we ramp up our product launches. Q1 will continue to represent a transition period as we ramp up our product line for next year. We're very excited with 2025 and really confident with the prospect that's going to bring for 2025 as we continue to improve our iRobot Elevate journey. With that, Gary. Thanks. We believe iRobot is positioned for success. We've got a market leader with an iconic brand and innovative products powered by a talented team of ingenious engineers and designers. We have a near-term plan for improving operational performance, and you've seen a lot of the reductions we've made in operating expenses, cutting costs, implementing what we need as a sustainable model, and improving our operations, putting in strong governance while we prioritize getting back to growth. It's about stabilizing the business, and we feel that we've made significant progress there. We're making focused investments to drive long-term growth, investing in higher-value, premium-priced robots, launching those to take advantage of the strong distribution that we already have, and it's really transforming our go-to-market strategy, leveraging our omnichannel and making sure we work with existing partners and optimize our marketing spend wherever we go. Turnarounds take time. It's been nine months since I joined. I'm very pleased with the progress that we've made. I think about our turnaround in four stages. Stage one is financial turnaround, getting our financial house in order. We're still in phase one. Phase two is all about launching these new products that are margin accretive to get us back to growth. We see the line of sight of that top-line growth and operating income growth in 2025. That's phase two. Taking advantage of our iRobot Labs and improving upon these 25 new products, as well as launching new products in 2026, that's phase three. That's a core part of focusing on the core and getting back to growth. Our brand has a lot of stretch. We can go into a lot of adjacent categories. That's phase four. We're not there yet, but we know that if we're going to have a long-term sustainable business, we have to grow beyond our core. But we've got a lot of work to do ahead of us. Again, we're only in phase one, but we have a line of sight, and we can see it because we're already in 2025. So I will end on that and see if there are any questions. We're also going to have a breakout downstairs right after this. So if you want to have time for more intimate questions, feel free to join us downstairs. Any questions on the presentation? Yeah. How do you see the competition in North America with Shark? Yeah. When I look at the landscape in the U.S., it's us and Shark. They're formidable competitors. We also have China competitors that are 3P that are in the Amazon platform. It's really us and Shark where Amazon takes inventory. They're strong, but we welcome the competition because, number one, it helps us grow the category. And number two, because of our strong brand. We've got evidence, and we talked about this in our Q3 results, where we have products that have navigation that is not state-of-the-art, that consumers have issues with the way our products perform. And yet, when we do a promotion on Amazon, we have four of the five top best sellers. So that tells you, it speaks to the power of the brand, that if we can close these technology gaps, improve our navigation performance, we'll be able to capture market share again and help grow the category. The other side of it is we're not playing in the biggest growth area of the market right now, which are these multifunctional premium devices, and we will be. So those are two core elements that are going to get us back to growth. Gary, you're no stranger to turnarounds. I'm curious, relative to your initial expectations on specific jobs, what has surprised you either positively or negatively about iRobot? Yeah. You have to go into these knowing that there's going to be some issue that you didn't think about. In general, they're always harder, right? They always take longer, but I've been pretty pleased with the fact of how much progress we've made in such a short period of time, and also the energy level of the team that for several years had to go through an acquisition period that was on hold and had to go through several rounds of restructuring before I even got there to then be able to support, to really work hard to get ready for these new products. That, to me, is what's most exciting about it, is I've got people that really want to be part of this turnaround and believe in the company and believe in the brand. I did my due diligence with retailers, but to actually go out and see them holding space for us for our 2025 lineup, they want us to win. And that's really comforting. Can you talk about your receivables? Do talk about your receivables? Do you have accounts receivable and selling that to? I didn't hear the question. I'm sorry. Hold on. Somebody's going to give you a mic. You have a large accounts receivable balance. Do you have any plans to sell those receivables and maybe use that to pay down the term loan? Well, we have a really strong relationship with our customer. And so if you look at our historical DSO, it's been extremely healthy. And typically, Q4 is our lowest DSO performance, just given the seasonality. So we're continuing to monitor liquidity, and I'm very pleased with the working capital management we have demonstrated over the entire 2024 period. And that's part of turnarounds, as Brian said. One of the things that we need to do is discipline, constant governance meetings. And so we're focused on daily cash and weekly cash to make sure that we're managing appropriately. And again, I'm very pleased with the performance we've made to date in terms of getting everybody focused on it.