They were once the pioneers of robotic vacuum cleaning, but iRobot — the company behind the iconic Roomba — is now out of cash and on the brink of bankruptcy.

Once a prized acquisition target for Amazon, the deal collapsed after U.S. and EU regulators blocked the takeover. Since then, iRobot’s technology has fallen behind, overshadowed by newer, more advanced products from brands like 3i, Ecovacs, Roborock, and Dreame.

Last week, iRobot filed a regulatory notice confirming that its final potential buyer had withdrawn. The company, which has been searching for a buyer since the Amazon deal was derailed by EU scrutiny, warned that bankruptcy may now be its only option.

Amazon CEO Andy Jassy described the situation as “a sad story” and “an example of regulation gone wrong” during an interview with CNBC.

Industry insiders say iRobot’s problems go deeper than regulatory setbacks. Years of stagnation and underinvestment have left its product lineup dated, while mass layoffs have gutted its development teams.

The company’s latest SEC filings reveal a bleak picture — mounting debt, financing difficulties, shrinking market share, and falling revenue. In Australia, iRobot products are distributed by Melbourne-based iXL Home.

Earlier this year, iRobot slashed 40% of its workforce, froze hiring, closed offices, subleased part of its headquarters, and cut marketing costs. Those measures saved around $126 million — but not enough to stop the company’s downward spiral.

Now, facing relentless competition and dwindling resources, the once trailblazing robot vacuum brand looks to be running out of charge for good.