iRobot 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, saying it may go out of business as sales and headcount plummet.

The loss-making company was once valued at $3.56 billion in 2021, driven by pandemic-fueled demand. It is now worth less than $200 million.