Is iRobot Stock Halal?
Table of Contents
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 October 2, 2021 | Fiscal year ended January 2, 2021 | Fiscal year ended December 28, 2019 | |
|---|---|---|---|
| Other Income (net) | $26,139 | $41,593 | $12,215 |
| Total Revenue | $1,109,539 | $1,430,390 | $1,214,010 |
| Other Expense (net) | – | – | – |
| Total Expenses | $1,065,694 | $1,284,068 | $1,127,392 |
| Other Income (net) / Total Revenue | 2.36% | 2.91% | 1.01% |
| Other Expense (net) / Total Expense | – | – | – |
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
iROBOT CORPORATION Q1 10-Q 2021