How much of iRobot’s revenue comes from haram?

iRobot sells sensor-enabled autonomous vacuuming (Roomba) and mopping robots (Braava).

In addition, iRobot offers coding robots integrated with iRobot’s app that teach children how to code.

Practical Islamic Finance concludes:

None of iRobot’s revenue comes from anything inherently haram.

Does iRobot rely on interest to operate?

iRobot reports its interest income, interest expense, foreign currency gains (losses), and investment gains (losses) as a net value represented as other income and expenses.

Year to Date
for the period ending
April 3, 2021
Fiscal year ended
January 2, 2021
Fiscal year ended
December 28, 2019
Other Income (net)$41,593$12,215
Total Revenue$303,261$1,430,390$1,214,010
Other Expense (net)$160
Total Expenses$296,872$1,284,068$1,127,392
Other Income (net) / Total Revenue2.91%1.01%
Other Expense (net) / Total Expense0.05%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in iRobot’s operations.

What is iRobot’s Environmental, Social, and Governance (ESG) impact?

Environment

According to iRobot, 98% of its product packaging is paper-based and recyclable.

Social

iRobot has a high Glassdoor rating of 4.3 out of 5.0 from over 200 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

iRobot has a net positive ESG impact.

Comfort Rating

From iRobot’s business, financial, and ESG reviews, Practical Islamic Finance rates iRobot stock as:

Comfortable to invest in from a Halal perspective.

Sources

Home How Does a Roomba Work?

iROBOT CORPORATION Q1 10-Q 2021 

iROBOT CORPORATION Form 10-K 2020 

iRobot Root 

iRobot Reviews

Recyclability