Robot became synonymous with home robots when it introduced the Roomba vacuum over 20 years ago, eventually selling 50 million models and becoming an acquisition target for Amazon. But the company gave investors a stark warning Wednesday,

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Robot warned investors of a going concern to maintain enough assets to operate and pay its debts, and said it has initiated a strategic review of the business.

Robot’s stock fell as much as 40% early Wednesday after the maker of robot vacuums told investors that it has “” Sales were down 44% in the last three months of 2024 at $172 million versus $307 million the year prior,

iRobot, maker of the Roomba autonomous vacuum, has suffered over the past few years from slumping sales, failed new products, and an aborted takeover attempt by Amazon.