iRobot Corporation (IRBT)

iRobot Corporation was a designer and maker of consumer robots best known for the Roomba robotic vacuum cleaner. It was founded in 1990 by Colin Angle, Helen Greiner and Rodney Brooks, who had worked together at the Massachusetts Institute of Technology, and it was headquartered in Bedford, Massachusetts. The company initially developed robots for government and military customers and later moved into consumer products.

The first Roomba was introduced in 2002 and became one of the best-selling home robots. iRobot's product line grew to include the Braava mopping robots, handheld vacuums, air purifiers under the Aeris brand and the Root educational robot. The company sold through major retailers, distributors and its own online store across North America, Europe, Asia and other regions. Its common stock began trading on the Nasdaq under the symbol IRBT after its initial public offering in 2005.

In August 2022 iRobot agreed to be acquired by Amazon in a transaction valued at about $1.7 billion. The deal faced extended antitrust review, including opposition from European regulators, and it was terminated in January 2024. After the termination, Colin Angle stepped down as chief executive and the company reduced its workforce and restructured, with Gary Cohen later leading the business.

iRobot also faced rising competition from lower-priced robot vacuum makers, particularly from China, along with tariff costs and falling sales. In 2025 the company disclosed substantial doubt about its ability to continue as a going concern and explored strategic alternatives, including a possible sale or financing. Its largest creditor and main contract manufacturer was Shenzhen PICEA Robotics Co., Ltd. (formerly 3irobotix), together with its affiliate Santrum Hong Kong.

On December 14, 2025, iRobot and its subsidiaries filed voluntary petitions under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware, together with a restructuring support agreement with Picea and a prepackaged plan. Nasdaq moved to delist the shares after the filing, and the stock subsequently traded over the counter under the symbol IRBTQ. A Form 25 for the common stock was filed with the SEC in January 2026.

The bankruptcy court confirmed the plan on January 22, 2026, and it became effective the next day. Under the plan, all existing common stock and other equity interests were cancelled, the credit agreement obligations were cancelled, equity awards were terminated and 10,000 shares of new common stock were issued to a new stockholder. The board was replaced with five new directors, and the company stated that it intended to deregister its remaining securities with the SEC and suspend its reporting obligations.