iRobot has posted a new video on its website featuring an upgraded version of its iRobot Ember LANdroid project first reported last year by Robot Stock News. The "phase 2" video is at this link.
The video features an upgraded Ember with a variety of what appear to be modular attachments, including a 4-camera system, sound and laser vision. The video shows Emberbots navigating real world terrain, avoiding cliffs and moving in concert with each other. Neat stuff. The $2.5 million DARPA-funded project is designed to produce teams of $100 lightweight robots that can go onto the battlefield, set up a wireless network and provide intelligence to warfighters. I'm not sure about the $100 pricetag, but the Ember looks like it fits the bill. Check out our earlier coverage of the iRobot Ember (with photos and videos) here.
Tags: iRobot, ember, robotics, robot, Landroid, Darpa
Tuesday, August 31, 2010
Short interest high in iRobot; Neato threat must be addressed
iRobot Corporation (NASDAQ:IRBT) still has a stunning 2.4 million shares short, nearly 10 percent of the company, and a much larger percentage of the shares in circulation (when founders shares, etc. are not included).
Every time iRobot has reported substantially good news, such as its recent upward revisions in its earnings and revenue outlook for the year, the company stock price pops, but the pops haven't had as much staying power recently. One possibility is that some shorts cover immediately but are quickly replaced by new shorts who see an opportunity to get in at a higher price. IRBT's relatively small daily volume would seem to make it an attractive target for manipulation. At any rate, the stock has been known for some pretty wild swings over the years, with multiple occasions when it has soared 20 percent, as well as several slow slides like the one we seem to be in now.
Some things to keep in mind right now with this stock:
* iRobot now has its first legitimate contender for the Roomba crown in America. The $399 Neato Robotics XV-11 robotic vacuum has features that Roomba can't match, including a laser quidance system that maps the room instead of Roomba's programmed semi-random algorithms. This has the potential to seriously erode the high end of the Roomba line (which runs from $129-$549), and demands a response from iRobot. I'm expecting a major upgrade to Roomba in 2011 to compete with Neato. If we don't, then there is a problem at iRobot HQ. They need to take this threat seriously. The Roomba 500 series was a major accomplishment for the company, adding reliability, extra cleaning power, and sophistication. But it's time for a major upgrade. While iRobot has been focused of late on building a health care robot to take care of older Americans in their homes, they are at risk of having their prime moneymaker, the iconic Roomba, relegated to second-tier status. That being said, it is going to take time for Neato to gear up, and what will likely be an upcoming showdown in Consumer Reports between the two models could prove particularly dangerous for iRobot. (The Roomba got a boost from CR when it was found to perform as well as the $1,800 Electrolux Trilobite a couple of generations ago. Likewise, the company got walloped when CR gave a negative, and in my view unjustified, review of the Scooba robotic mop). All that being said, iRobot has a huge headstart over Neato in brand recognition and worldwide distribution, but they cannot rest on their laurels. Neato could easily sell tens of millions of dollars worth of robots if they play their cards right. The one advantage is that Neato could help expand the marketplace overall, and there is probably room for both companies. Neato also could be an easy way for a large consumer vacuum company to buy into robotics on the cheap -- and that could make iRobot a little bit less of a takeover target for the home side of the business. I also wonder if there is any talk within the company of buying Neato -- but that would probably take a big chunk of iRobot's cash hoard -- if the FTC approved it.
* Neither the Neato threat, nor the economy, should affect this year's earnings. The home robot business is going gangbusters overseas, and that should continue, especially in Japan, which remains a largely untapped, and ideal, market for iRobot, given the strong yen, that nation's love for robots, the small, easily cleaned homes many Japanese own, and the lack of a large, cheap cleaning workforce like we have in America. Remember that the company on its most recent conference call said that they simply won't have the capacity to build enough Roombas to meet demand before 2011, when a new manufacturer comes on board in China, anyway.
* The military side of the business is going very, very well. Much of this is due to Afghanistan, where iRobot's SUGV and PackBot products seem to be in demand because they are smaller and more maneuverable than the competition in a country with difficult terrain. This seems like a sure thing to keep on trucking through mid-2011, when we may start a pullback of troops from Afghanistan. At that point, the question is whether iRobot can sustain its sales as the military looks to restock for future conflicts. I'm betting yes -- that the military has seen the light on robotics and wants to build its capabilities in that area while de-emphasizing the much more costly legacy equipment of 20th century conventional warfare. And I still think that the company is takeover bait (or partial takeover-bait) for the military side of the business all on its own.
Tags: iRobot, robot, IRBT, robotics
Every time iRobot has reported substantially good news, such as its recent upward revisions in its earnings and revenue outlook for the year, the company stock price pops, but the pops haven't had as much staying power recently. One possibility is that some shorts cover immediately but are quickly replaced by new shorts who see an opportunity to get in at a higher price. IRBT's relatively small daily volume would seem to make it an attractive target for manipulation. At any rate, the stock has been known for some pretty wild swings over the years, with multiple occasions when it has soared 20 percent, as well as several slow slides like the one we seem to be in now.
Some things to keep in mind right now with this stock:
* iRobot now has its first legitimate contender for the Roomba crown in America. The $399 Neato Robotics XV-11 robotic vacuum has features that Roomba can't match, including a laser quidance system that maps the room instead of Roomba's programmed semi-random algorithms. This has the potential to seriously erode the high end of the Roomba line (which runs from $129-$549), and demands a response from iRobot. I'm expecting a major upgrade to Roomba in 2011 to compete with Neato. If we don't, then there is a problem at iRobot HQ. They need to take this threat seriously. The Roomba 500 series was a major accomplishment for the company, adding reliability, extra cleaning power, and sophistication. But it's time for a major upgrade. While iRobot has been focused of late on building a health care robot to take care of older Americans in their homes, they are at risk of having their prime moneymaker, the iconic Roomba, relegated to second-tier status. That being said, it is going to take time for Neato to gear up, and what will likely be an upcoming showdown in Consumer Reports between the two models could prove particularly dangerous for iRobot. (The Roomba got a boost from CR when it was found to perform as well as the $1,800 Electrolux Trilobite a couple of generations ago. Likewise, the company got walloped when CR gave a negative, and in my view unjustified, review of the Scooba robotic mop). All that being said, iRobot has a huge headstart over Neato in brand recognition and worldwide distribution, but they cannot rest on their laurels. Neato could easily sell tens of millions of dollars worth of robots if they play their cards right. The one advantage is that Neato could help expand the marketplace overall, and there is probably room for both companies. Neato also could be an easy way for a large consumer vacuum company to buy into robotics on the cheap -- and that could make iRobot a little bit less of a takeover target for the home side of the business. I also wonder if there is any talk within the company of buying Neato -- but that would probably take a big chunk of iRobot's cash hoard -- if the FTC approved it.
* Neither the Neato threat, nor the economy, should affect this year's earnings. The home robot business is going gangbusters overseas, and that should continue, especially in Japan, which remains a largely untapped, and ideal, market for iRobot, given the strong yen, that nation's love for robots, the small, easily cleaned homes many Japanese own, and the lack of a large, cheap cleaning workforce like we have in America. Remember that the company on its most recent conference call said that they simply won't have the capacity to build enough Roombas to meet demand before 2011, when a new manufacturer comes on board in China, anyway.
* The military side of the business is going very, very well. Much of this is due to Afghanistan, where iRobot's SUGV and PackBot products seem to be in demand because they are smaller and more maneuverable than the competition in a country with difficult terrain. This seems like a sure thing to keep on trucking through mid-2011, when we may start a pullback of troops from Afghanistan. At that point, the question is whether iRobot can sustain its sales as the military looks to restock for future conflicts. I'm betting yes -- that the military has seen the light on robotics and wants to build its capabilities in that area while de-emphasizing the much more costly legacy equipment of 20th century conventional warfare. And I still think that the company is takeover bait (or partial takeover-bait) for the military side of the business all on its own.
Tags: iRobot, robot, IRBT, robotics
Sunday, August 22, 2010
Neato Robotics XV-11 Vacuum with Laser Guidance System FINALLY on Sale!
You remember the Neato Robotics XV-11 laser-guided robotic vacuum, the supposed Roomba-killer that was hyped at CES earlier this year (and was supposed to be in stores by February)? Well, it's finally, finally on sale via Hammacher Schlemmer, the premier online retailer.
Hammacher is selling the Laser Guided Robotic Vacuum for $399
with a projected ship date of Sept. 30. That's still not now, but at least it's progress. Hammacher, of course, offers a Free LIFETIME guarantee, which you won't find anywhere else. If you are ever unsatisfied with the product, Hammacher should offer to fix the item or give you your money back. That's a particularly valuable guarantee with an unproven piece of electronic equipment like the first laser-guided consumer robot EVER.
If you order now, use free shipping coupon code NVBRSHIP.
I'm planning on buying one and will let you know how it compares to the iRobot Roomba 500 Series robots, currently the class of the market (and cheaper, starting at just $249). What is exciting about the Neato is that it potentially can clean your room more thoroughly and quickly than Roomba, with precise vacuuming patterns instead of randomized algorithms, and a more powerful vacuum motor. The battery doesn't last as long (one hour vs. two), but that shouldn't matter if the Neato is more efficient at cleaning. At any rate, let the debate begin!
Tags: iRobot, robot, Roomba, Neato
Hammacher is selling the Laser Guided Robotic Vacuum for $399
If you order now, use free shipping coupon code NVBRSHIP.
I'm planning on buying one and will let you know how it compares to the iRobot Roomba 500 Series robots, currently the class of the market (and cheaper, starting at just $249). What is exciting about the Neato is that it potentially can clean your room more thoroughly and quickly than Roomba, with precise vacuuming patterns instead of randomized algorithms, and a more powerful vacuum motor. The battery doesn't last as long (one hour vs. two), but that shouldn't matter if the Neato is more efficient at cleaning. At any rate, let the debate begin!
Tags: iRobot, robot, Roomba, Neato
Robot Stock News will be making a comeback...
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