March 12 (Reuters) - Roomba vacuum cleaner maker iRobot

, a former $1.4 billion buyout target of Amazon.com ( AMZN )

, raised concerns on Wednesday about its ability to stay

in business.

Shares of the company fell more than 30% in afternoon

trading, extending a multi-year decline from its pandemic-era

peak.

"Given macroeconomic and tariff-related uncertainties, there

is substantial doubt about iRobot's ability to continue as a

going concern," iRobot said in a statement.

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.

The company's net loss for the fourth quarter ended December

28, 2024, widened to $77.1 million from $63.6 million a year

earlier. Its revenue declined by 44% in the fourth quarter.

The company's cash reserves dwindled to $134.3 million in

2024, compared to $185.1 million in 2023. The debt stood at

$200.6 million as of December 28, 2024, its annual filing

showed.

The vacuum cleaner maker is having a hard time keeping up

with Chinese rivals such as Ecovacs Robotics, which offer

advanced features at lower prices.

The company said it was exploring options, including a

potential sale or debt refinancing, just a day after it launched

eight new Roomba models in its biggest product rollout.

In August 2022, iRobot had agreed to a $61-per-share

takeover by Amazon ( AMZN ), a deal some analysts viewed as a lifeline

for the company and a potential enhancement for Amazon's ( AMZN ) smart

home division.

However, strong antitrust objections to the merger and

privacy concerns over the spatial data collected by the devices

led to the deal's collapse in January last year.

With the takeover scrapped, founder Colin Angle stepped down

as CEO in January last year, suggesting that a leader with

turnaround expertise might better serve the company.

In May last year, the company appointed Gary Cohen as CEO to

head its recovery efforts.