iRobot's 3 Biggest Growth Opportunities

iRobot (NASDAQ: IRBT) has been firing on all cylinders as of late. Not only has iRobot grown revenue at an impressive 19% clip over the past five years, but the company has also increased margins while doing so. That is a killer combo, and shareholders have been handsomely rewarded to the tune of a 151% uptick in the stock price.  

Management firmly believes that iRobot has a long runway for growth ahead. One big reason for that belief is the fact that the robotic vacuum market has been growing like gangbusters. At a recent investor's conference, management stated that the immediately addressable market for robotic vacuums in the United States is 2-3 times the currently installed base.  Over the long-term, management expects the market to grow by 700%. So let's explore what could be iRobot's three biggest opportunities to profit from this growing market in the years ahead.

Source: iRobot

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Source: Fool.com