iRobot CEO Colin Angle and CFO Geoff Clear gave a presentation to the Raymond James investors conference yesterday with some breakout news.
Charts accompanying his presentation projected $1.50-$1.70 a share earnings goal and $500 million in revenue in 3 years. Put a 25 multiple on that and you get some nice big numbers, folks! That would be a nice double from here. It is only a goal, of course. Angle projected those earnings based on assumptions of more reliable products with lower warranty costs, growth in the business, cheaper, modular designs, and growing high-margin product life cycle revenue.
The new DARPA award to develop LANDroids is $2.5 million.
Tidbits: 3.2 million home robots have been sold to date, 1300+ PackBots.
About 450 employees.
40 patents and more than 50 pending.
Roomba has 5% share of $2.4 billion U.S. Vacuum market.
Some 18.5% of consumers say they are considering a robotic vacuum as their next vacuum in a January IDC survey, first time that has shown up.
Very confident in 10% Roomba growth this year because of lost sales last year due to product transition, plus have full year of new Roomba 500 Series. Plus cheaper materials by a “significant margin.”
Lots of great charts in the presentation, and I’ve posted a few below:
The future is looking brighter. The full presentation is available at the Raymond James web site.
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