ITRON (ITRI) Company Report

Itron, Inc. (ITRI) has entered into a definitive agreement to acquire Locusview, Ltd., a privately held utility-focused software and services company.
The acquisition is valued at $525 million and will be financed with cash on hand.
The transaction is expected to close in January 2026.
Locusview's digital construction management platform will enhance Itron's Resiliency Solutions offerings.

Nov 17, 2025, 1:35 PM

8-K

Itron Reports Strong Q3 2025 Financial Results Amidst Project Delays and Announces Urbint Acquisition

ITRI

Earnings

Guidance Update

M&A

Itron reported strong Q3 2025 financial results, including revenue of $582 million, adjusted EBITDA of $97 million, and non-GAAP earnings per share of $1.54. The company also achieved a record gross margin of 37.7% and record free cash flow of $113 million.
Third-quarter bookings were $380 million, contributing to a total backlog of $4.3 billion. However, lower than expected bookings and extended project deployment schedules are anticipated to result in a book-to-bill ratio below one-to-one for 2025, with Network Solutions revenue decreasing 6% year over year.
The company announced the $325 million all-cash acquisition of Urbint, a SaaS-based business, expected to close in Q4 2025. Itron also provided Q4 2025 revenue guidance of $555 million to $565 million and raised its full-year 2025 non-GAAP EPS outlook to $6.84 to $6.94, partly due to a favorable tax item.

Oct 30, 2025, 2:00 PM

Transcript

Itron Reports Record Q3 2025 Profitability and Updates Full-Year Outlook

ITRI

Earnings

Guidance Update

M&A

Itron achieved record margins, profit, and free cash flow in Q3 2025, with revenue of $582 million, adjusted EBITDA of $97 million, non-GAAP earnings per share of $1.54, and free cash flow of $113 million. The gross margin reached a company record of 37.7%.
Q3 bookings were $380 million, contributing to a total backlog of $4.3 billion at quarter-end. Outcomes-related backlog saw significant growth, increasing 36% year-over-year and now comprising over 20% of the total backlog.
For Q4 2025, Itron forecasts revenue between $555 million and $565 million and non-GAAP EPS of $2.15 to $2.25, which includes a favorable tax benefit. The full-year 2025 non-GAAP EPS outlook was raised to $6.84 to $6.94.
Itron announced the acquisition of Urbant for $325 million in an all-cash transaction, expected to close in Q4 2025. This SaaS-based business focuses on operational resilience solutions for utilities.

Oct 30, 2025, 2:00 PM

Transcript

Itron Announces Q3 2025 Results and Updates Full-Year Outlook

ITRI

Earnings

Guidance Update

Demand Weakening

Itron reported Q3 2025 revenue of $582 million and Non-GAAP diluted EPS of $1.54. Revenue decreased 5% year-over-year, and Non-GAAP diluted EPS decreased 16% year-over-year.
Free cash flow increased significantly by 93% year-over-year to $113.4 million in Q3 2025, primarily due to improved working capital, decreased tax payments, and higher earnings.
The company's ending backlog stood at $4.3 billion as of Q3 2025, with Q3 2025 bookings reported at $380 million.
For Q4 2025, Itron projects revenue between $555 million and $565 million and Non-GAAP diluted EPS between $2.15 and $2.25.
The full-year 2025 Non-GAAP EPS outlook was revised upwards to $6.84 - $6.94, while the revenue outlook was narrowed to $2.35 - $2.36 billion.

Oct 30, 2025, 2:00 PM

Presentation

Itron Reports Strong Q3 2025 Financials, Acquires Urbant, and Updates 2025 Outlook

ITRI

Earnings

Guidance Update

M&A

Itron reported Q3 2025 revenue of $582 million, adjusted EBITDA of $97 million, and non-GAAP earnings per share of $1.54, setting new records for margins, profit, and free cash flow.
The company announced the acquisition of Urbant for $325 million in an all-cash transaction, expected to close during the fourth quarter of 2025, to enhance its operational resilience solutions.
Q3 bookings were $380 million, contributing to a total backlog of $4.3 billion at quarter-end, though lower than expected bookings and project deployment delays have tempered year-end booking expectations and impacted Network Solutions revenue.
Itron updated its full-year 2025 revenue outlook to $2.35 billion to $2.36 billion and non-GAAP EPS to $6.84 to $6.94, while providing Q4 2025 revenue guidance of $555 million to $565 million and non-GAAP EPS of $2.15 to $2.25.

Oct 30, 2025, 2:00 PM

Transcript

Itron Announces Third Quarter 2025 Financial Results and Updates Full Year Outlook

ITRI

Earnings

Guidance Update

M&A

Itron reported Q3 2025 revenue of $582 million, a 5% decrease compared to the prior year, alongside GAAP diluted EPS of $1.41 and non-GAAP diluted EPS of $1.54.
The company achieved record margin, profitability, and cash flow in Q3 2025, with Adjusted EBITDA increasing 10% to $97 million and free cash flow rising $55 million to $113 million.
Itron updated its full-year 2025 revenue outlook to between $2.35 billion and $2.36 billion and non-GAAP diluted EPS to between $6.84 and $6.94.
The company announced the acquisition of Urbint, Inc. for $325 million in cash, expected to close in Q4 2025.

Oct 30, 2025, 12:35 PM

8-K

Itron Announces Q3 2025 Financial Results and Urbint Acquisition

ITRI

Earnings

Guidance Update

M&A

Itron (ITRI) reported Q3 2025 revenue of $582 million, a 5% decrease from the prior year, with GAAP diluted EPS of $1.41 and Non-GAAP diluted EPS of $1.54.
Despite the revenue decrease, the company achieved strong profitability and cash flow, with Adjusted EBITDA increasing 10% to $97 million and free cash flow rising $55 million to $113 million compared to Q3 2024. Gross margin also improved by 360 basis points to 37.7%.
Itron updated its full-year 2025 revenue outlook to between $2.35 to $2.36 billion and Non-GAAP diluted EPS to between $6.84 to $6.94. The Q4 2025 outlook projects revenue between $555 and $565 million and Non-GAAP diluted EPS between $2.15 and $2.25.
The company's total backlog increased to $4.3 billion at quarter end, up from $4.0 billion in the prior year.
Itron announced the acquisition of Urbint, Inc. for $325 million in cash, expected to close during the fourth quarter of 2025.

Oct 30, 2025, 12:30 PM

Press Release

Itron Report Details Rapid AI Adoption by North American Utilities

ITRI

New Projects/Investments

Itron's 2025 Resourcefulness Report indicates that 41% of North American utility executives have fully integrated AI-related technologies, which is significantly earlier than anticipated, with an additional 40% having made significant investments.
This accelerated adoption of AI is driven by unprecedented industry pressures, including surging demand from manufacturing, electrification, and AI data centers.
Executives identified grid optimization (57%), safety (53%), and demand forecasting (51%) as key areas for AI application.

Oct 27, 2025, 12:45 PM

Press Release

Itron to Acquire Urbint

ITRI

M&A

New Projects/Investments

Itron, Inc. has signed a definitive agreement to acquire Urbint, Inc., a privately held software company based in Miami, Florida.
The purchase price for the acquisition is $325 million and will be funded through cash on hand.
The transaction is expected to close during the fourth quarter of 2025.
This acquisition is intended to enhance Itron's offerings with Urbint's AI-powered operational resilience solutions for utilities.

Oct 6, 2025, 8:35 PM

8-K

Itron to Acquire Urbint

ITRI

M&A

New Projects/Investments

Itron, Inc. (NASDAQ: ITRI) has signed a definitive agreement to acquire Urbint, Inc., a privately held software company.
The purchase price for the acquisition is $325 million and will be funded through cash on hand.
The transaction is expected to close during the fourth quarter of 2025.
This acquisition aims to enhance Itron's existing offerings with Urbint's AI-powered operational resilience solutions to help utilities and cities manage energy and water.

Oct 6, 2025, 8:30 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for ITRON.

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