iRobot, the iconic robotics company behind the popular Roomba brand, has warned investors that its future is in doubt. In its latest financial filings, the company revealed that it may be unable to continue operating beyond the next 12 months unless it can refinance its debt or find a buyer.

The warning comes just a day after iRobot launched a new line of Roomba vacuum cleaners, which the company hopes will help turn its fortunes around. However, the company's financial situation remains precarious, with iRobot heavily in debt and no clear path to profitability.

According to its financial filings, iRobot spent $3.6 million to amend the terms of a $200 million loan it took out in 2023, which was initially tied to a now-defunct deal with Amazon. The company has been struggling to become profitable again, citing increasing competition from Chinese manufacturers and a decline in revenue in the US market.

iRobot's revenue in the US dropped by 47% in the fourth quarter, and the company expects to incur losses for "the foreseeable future." With no clear path to paying off its debt, iRobot has initiated a formal strategic review to evaluate a broad range of alternatives, including exploring a potential sale or strategic transaction and refinancing its debt.

The company's struggles are a far cry from its heyday, when it was a pioneer in the robotics industry and its Roomba brand was synonymous with innovation. However, a tumultuous year that saw the departure of its CEO and founder Colin Angle, the collapse of the Amazon deal, and massive layoffs has left iRobot fighting for survival.

The launch of its new Roomba line may be a last-ditch effort to turn things around, but the company acknowledges that its success is far from guaranteed. iRobot cites "consumer demand, competition, macroeconomic conditions, and tariff policies" as potential risks to its new products, and warns that if they are not successful, the company may be unable to continue beyond 12 months.

The news is a stark reminder of the challenges facing even the most iconic companies in the tech industry. As iRobot struggles to stay afloat, its investors and customers are left wondering what the future holds for the beloved Roomba brand.

With its future hanging in the balance, iRobot's warning serves as a wake-up call to the tech industry, highlighting the risks and uncertainties that even the most established companies face in today's fast-paced and competitive market.