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  "documentTitle": "iRobot Corp (IRBT)",
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  "authorName": "Spruce Point Management",
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  "presentationDate": "2014-05-20 00:00:00",
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  "notes": "Uses red flag icons to visually emphasize negative financial indicators.",
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      "text": "IRBT’s financials are littered with warning signs: For example, we observe a large and unexplained quarterly surge in accounts receivables in the middle of 2013.",
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      "text": "Days Sales in Inventory",
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      "text": "Quarter-Over-Quarter Growth",
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      "text": "IRBT's financials are littered with warning signs: For example, we observe a large and unexplained quarterly surge in accounts receivables in the middle of 2013. Meanwhile, IRBT's Days Sales in Inventory (DSI), or a measure of days to turnover its inventory, steadily rose in 2013 and has remained elevated. Lastly, we note IRBT replaced its long-time CFO early in March 2013. Later in November 2013, IRBT took the unusual step of placing its new CFO in charge of Supply Chain and Manufacturing.",
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      "kind": "source-note",
      "text": "Source: IRBT Financial Filings 1) http://investor.irobot.com/phoenix.zhtml?c=193096&p=irol-newsArticle&ID=1879828&highlight=",
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      "text": "Classic Warning Signs IRBT's Financial Statements Are Becoming Unraveled",
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