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    Jeff Osborne • TD Cowen

    Jeff Osborne's questions to Itron Inc (ITRI) leadership

    Jeff Osborne's questions to Itron Inc (ITRI) leadership • Q2 2025

    Question

    Jeff Osborne of TD Cowen asked for details on the pace of regulatory approvals impacting backlog, sought to reconcile macro versus micro reasons for project delays, and inquired if the typical revenue recognition timeline is lengthening.

    Answer

    CEO Tom Deitrich stated that the pipeline of awarded-but-not-yet-approved projects is within a normal range. He clarified that while long-term utility CapEx is rising, near-term annual budget constraints are causing project slowdowns. He also confirmed that the lag from project approval to revenue recognition is trending towards the longer end of the typical 9-12 month range due to project sequencing by customers.

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    Jeff Osborne's questions to Eos Energy Enterprises Inc (EOSE) leadership

    Jeff Osborne's questions to Eos Energy Enterprises Inc (EOSE) leadership • Q2 2025

    Question

    Jeff Osborne of TD Cowen asked for clarification on the revenue recognition timing for the large strategic customer in Q2 and inquired about the current order-to-delivery lead times being quoted to customers.

    Answer

    CCO & Interim CFO Nathan Kreger confirmed that the vast majority of the revenue for the strategic project was recognized in Q2 upon delivery, as shipments are complete. Regarding lead times, Kreger explained that delivery windows are negotiated with each customer. The company's single SKU product design provides significant flexibility to adjust production slots to meet specific customer delivery schedules.

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