A few days ago, Roborock released its 2024 annual financial report, and the core data is quite golden.

According to the financial report, the company's revenue in 2024 will be 11.945 billion yuan, a year-on-year increase of 38.03%; The net profit was 1.977 billion yuan. Among them, the revenue of "smart sweepers and accessories" increased by 34.17% year-on-year, and the revenue of "other smart electrical products" including floor scrubbers, washing machines and other businesses increased by 93.13% year-on-year.

According to IDC's latest "Global Smart Home Device Market Data Tracking Report", Roborock's annual shipments in 2024 will increase by 20.7% year-on-year, and last year's global shipments and sales ranked first.

At the same time, the report also shows that the global intelligent sweeping robot market will ship 20.603 million units in 2024, a year-on-year increase of 11.2%; Annual sales reached US$9.31 billion, up 19.7% year-on-year.

It can be seen that last year, Roborock outperformed the overall growth rate of the market and further seized market share, and its leading position in the industry became more and more stable.

Let's take a look at how Roborock has achieved the above achievements and what incremental highlights will be in 2025 to help the performance continue to maintain an upward curve.

Products and channels work together to outperform the growth rate of the industry

In the context of increasingly fierce competition in the cleaning industry, Roborock has been able to achieve both sales and revenue growth, thanks to a comprehensive breakthrough in the product side and channel side.

Roborock launched a number of new products last year, such as P20 Pro and G20S Ultra in the basic disk business of sweepers; In terms of emerging business, there are A30 series of floor scrubbers, Z1 and Q1 series of washing and drying machines.

The sweeper business provides Roborock with a strong brand influence, and its revenue performance has been repeatedly verified by the market for a long time. The floor scrubber and washer-dryer series effectively use the company's accumulated brand influence as an endorsement, and the products can be quickly increased.

It is understood that the new sweeper is equipped with a number of new technologies in the industry, such as double vibration mopping, intelligent cliff forbidden area, main brush hair cutting, and extremely fast drying, which means that Roborock will continue to use technological innovation to upgrade and create new products, so that product functions can solve the pain points of consumers, so as to maintain strong product strength and promote the steady growth of new product series.

At the same time, Roborock has launched a variety of new products to continuously enrich the product matrix and price matrix, so as to cover consumers with different needs and broaden profit margins. For example, the washer-dryer can meet the diverse needs of single to multi-person families, the Z1 series is suitable for large families, the Q1 series is suitable for renting or small apartments, and the M1 Pure is fully functional and cost-effective.

On the channel side, Roborock continues to adhere to the localization strategy in North America, Europe and Asia-Pacific to ensure that its products and services respond to demand in a timely manner, and further deepen its cooperative relationship with well-known local e-commerce platforms, retailers and agents.

(Source: Amazon Germany).

According to the data, Roborock ranks first in Denmark, Finland, Germany, South Korea, Norway, Sweden, Turkey and other countries. According to other data, as of December 2024, the company covers 1,398 Target stores and 900 Best Buy stores in North America. The former is the second-largest retailer in the U.S. and the latter is the world's largest retailer of electrical and electronic products, which can significantly increase the company's product exposure and sales.

It is worth noting that in addition to developing products and channels, Roborock appropriately expands marketing investment on the sales side to leverage a higher return on investment, including on-site and off-site investment on mainstream e-commerce platforms, off-site grass planting platforms, and influencer recommendations.

In the short term, this can convert more revenue and share breakthroughs to seize opportunities, while in the long term, it can help brands enhance user trust and identity, and continue to create value for brands.

For a long time, compared with industry competition, Roborock has a more flexible and operational space on the sales side, so expanding marketing investment is also regarded as a positive signal by the outside world. Roborock has a good ROI performance, that is, the efficiency of cost delivery. This allows it to expand its marketing investment without bringing a large profit loss, while the net profit margin can continue to maintain above the industry level.

Therefore, in the end, it can be seen that Roborock has attacked in many aspects of products, channels and marketing to jointly drive performance growth. Based on its current industry leadership, mature business model and solid product strength, Roborock has the ability to unleash more scale effects and improve profitability in the future.

Short-term growth has certainty, and technological innovation expands the boundaries of growth

Looking ahead, how do you see Roborock's short- and medium-term performance?

Since the beginning of this year, Roborock has released a number of new sweeper products, showing a trend of high-end upgrading and technology decentralization, which will bring incremental performance to the performance.

The G30 Space is the first to take the sweeper from floor cleaning to space cleaning, with a folding robotic arm that can identify, grip and organize items. That is to say, the functional boundary of the sweeper has been further expanded to a new field, and in the future, with the iterative upgrading of the function, it is expected to show a huge imagination space in the cleaning ability and cleaning range.

As a result, Roborock has once again consolidated its leading position in the high-end market, and more high-end new products are expected to bring positive changes to the company's gross profit margin.

In terms of P series, the P20 Plus and P20 Ultra enjoy some performance parameters and innovative features of high-end models, such as self-lifting LDS, 79.8mm body thickness, 4cm obstacle crossing ability, and 12N maximum mopping pressure, while P20 Plus is more cost-effective than last year's P20 Pro.

In addition, Roborock has also launched the A30 Pro Steam and A30 Pure in the price range of 2000-3000 yuan for floor scrubbers, supplementing the price band and strengthening differentiated competitiveness.

It is foreseeable that by expanding SKUs, Roborock will be able to accelerate the penetration of its products in different price ranges, which will lead to faster growth in the company's shipments.

According to the online sales data disclosed by Aowei Cloud, the industry's total online sales from January to February 2025 increased by 72% year-on-year, continuing the high growth trend in the fourth quarter of last year, while Roborock's share in February increased by 3 percentage points month-on-month.

This means that the share of the industry is further concentrated in the head brand, and the effect of "the strong is always strong" is highlighted. Roborock continues to make product innovations, and under the catalysis of the national subsidy policy, it will continue to enjoy more market dividends in the future.

From the perspective of intelligent development, "science and technology equality" has been staged in various industries, and the intelligent cleaning industry is no exception.

For the intelligent cleaning appliance industry, "equal rights in science and technology" is inseparable from the company's technology investment and extreme control of costs, testing the company's software and hardware algorithm self-development, supply chain and other capabilities. In the long run, the company is expected to become an important force in promoting "equal rights in technology", winning the favor of consumers and leading the growth of the industry.

In the past, Roborock has been expanding R&D investment to pave the way for the company to reach a higher level in the future. In 2024, Roborock's R&D investment will reach 971 million yuan, a year-on-year increase of 56.93%, and more powerful growth in performance may come soon.

Conclusion:

Looking forward to 2025, Roborock's incremental growth is clear: high-end products set off a revolution in space cleaning, P-series upgraded cost performance, floor scrubbers and other price bands are complemented, and the technical boundaries and user coverage will continue to be broadened. High R&D investment drives "scientific and technological equality", lowers the threshold for intelligent cleaning, and seizes the mainstream price market.

In the future, with the increase of industry concentration and the release of technology dividends, Roborock's positive cycle of "innovation-growth-feeding R&D" will open up a broader upside space for performance. The "leading" story of the intelligent cleaning industry may have just entered the climactic chapter.