ITRON, INC.
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ITRI Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue (Q) | — | — | — |
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| Product | 477,801 | 523,141 | -8.7% |
| Product · Device Solutions | 123,728 | 125,387 | -1.3% |
| Product · Material Reconciling Items | 477,801 | 523,141 | -8.7% |
| Product · Networked Solutions | 321,147 | 374,522 | -14.3% |
| Product · Outcomes | 31,872 | 23,232 | +37.2% |
| Product · Resiliency Solutions | 1,054 | — | — |
| Service | 109,181 | 84,010 | +30.0% |
| Service · Device Solutions | 649 | 484 | +34.1% |
| Service · Material Reconciling Items | 109,181 | 84,010 | +30.0% |
| Service · Networked Solutions | 29,516 | 28,210 | +4.6% |
| Service · Outcomes | 64,038 | 55,316 | +15.8% |
| Service · Resiliency Solutions | 14,978 | — | — |
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| Device Solutions · Operating Segments | 124,377 | 125,871 | -1.2% |
| Networked Solutions · Operating Segments | 350,663 | 402,732 | -12.9% |
| Outcomes · Operating Segments | 95,910 | 78,548 | +22.1% |
| Resiliency Solutions · Operating Segments | 16,032 | — | — |
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| Asia Pacific | 31,256 | 24,613 | +27.0% |
| EMEA | 101,207 | 96,326 | +5.1% |
| United States and Canada [Member] | 454,519 | 486,212 | -6.5% |
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| Revenue | 586,982 | 607,151 | -3.3% |
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| Material Reconciling Items | 586,982 | 607,151 | -3.3% |
| Cost of Revenue (Q) | — | — | — |
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| Product | 300,209 | 346,442 | -13.3% |
| Service | 50,454 | 43,490 | +16.0% |
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| Device Solutions · Operating Segments | 80,358 | 88,118 | -8.8% |
| Networked Solutions · Operating Segments | 207,590 | 254,018 | -18.3% |
| Outcomes · Operating Segments | 55,886 | 47,796 | +16.9% |
| Resiliency Solutions · Operating Segments | 4,334 | — | — |
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| Cost of Revenue | 350,663 | 389,932 | -10.1% |
| Gross Profit (Q) | — | — | — |
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| Gross Profit | 236,319 | 217,219 | +8.8% |
| Selling, General & Administrative (Q) | — | — | — |
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| Device Solutions · Operating Segments | 2,977 | 3,328 | -10.5% |
| Networked Solutions · Operating Segments | 7,281 | 6,680 | +9.0% |
| Outcomes · Operating Segments | 5,259 | 4,077 | +29.0% |
| Resiliency Solutions · Operating Segments | 3,001 | — | — |
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| Selling, General & Administrative | 105,357 | 86,911 | +21.2% |
| Research & Development (Q) | — | — | — |
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| Device Solutions · Operating Segments | 4,150 | 3,954 | +5.0% |
| Networked Solutions · Operating Segments | 25,656 | 25,925 | -1.0% |
| Outcomes · Operating Segments | 12,410 | 12,345 | +0.5% |
| Resiliency Solutions · Operating Segments | 4,366 | — | — |
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| Research & Development | 54,999 | 50,090 | +9.8% |
| Amortization Of Intangible Assets (Q) | — | — | — |
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| Amortization Of Intangible Assets | 8,172 | 4,479 | +82.5% |
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| Corporate Non Segment | -2,495 | — | — |
| Gain Loss On Restructuring (Q) | — | — | — |
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| Gain Loss On Restructuring | 214 | -553 | +138.7% |
| Operating Expenses (Q) | — | — | — |
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| Operating Expenses | 168,742 | 141,006 | +19.7% |
| Operating Income (Q) | — | — | — |
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| Device Solutions · Operating Segments | 36,892 | 30,471 | +21.1% |
| Networked Solutions · Operating Segments | 110,136 | 116,109 | -5.1% |
| Outcomes · Operating Segments | 22,355 | 14,330 | +56.0% |
| Resiliency Solutions · Operating Segments | 4,331 | — | — |
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| Operating Income | 67,577 | 76,213 | -11.3% |
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| Material Reconciling Items | 173,714 | 160,910 | +8.0% |
| Interest Income Other (Q) | — | — | — |
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| Interest Income Other | 5,660 | 11,710 | -51.7% |
| Interest Expense (Q) | — | — | — |
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| Interest Expense | -5,809 | -5,593 | -3.9% |
| Other Non-Operating Income (Expense) (Q) | — | — | — |
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| Other Non-Operating Income (Expense) | -233 | -51 | -356.9% |
| Non-Operating Income (Expense) (Q) | — | — | — |
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| Non-Operating Income (Expense) | -382 | 6,066 | -106.3% |
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| Corporate Non Segment | -382 | 6,066 | -106.3% |
| Income Before Taxes (Q) | — | — | — |
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| Income Before Taxes | 67,195 | 82,279 | -18.3% |
| Income Tax Expense (Benefit) (Q) | — | — | — |
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| Income Tax Expense (Benefit) | -13,609 | -16,929 | +19.6% |
| Net Income (Q) | — | — | — |
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| Noncontrolling Interest | 127 | -124 | +202.4% |
| Parent | 53,459 | 65,474 | -18.4% |
| Retained Earnings | 53,459 | 65,474 | -18.4% |
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| Net Income | 53,586 | 65,350 | -18.0% |
| Net Income Loss Attributable To Noncontrolling Interest (Q) | — | — | — |
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| Net Income Loss Attributable To Noncontrolling Interest | 127 | -124 | +202.4% |
| Net Income (Q) | — | — | — |
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| Net Income | 53,459 | 65,474 | -18.4% |
| EPS (Basic) (Q) | — | — | — |
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| EPS (Basic) | 1.2 | 1.44 | -16.7% |
| EPS (Diluted) (Q) | — | — | — |
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| EPS (Diluted) | 1.18 | 1.42 | -16.9% |
| Wtd Avg Shares (Basic) (Q) | — | — | — |
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| Wtd Avg Shares (Basic) | 44,734 | 45,338 | -1.3% |
| Wtd Avg Shares (Diluted) (Q) | — | — | — |
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| Wtd Avg Shares (Diluted) | 45,470 | 46,172 | -1.5% |
| Comprehensive Income (Q) | — | — | — |
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| Comprehensive Income | 40,633 | 79,022 | -48.6% |
| Other Comprehensive Income (Q) | — | — | — |
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| Other Comprehensive Income | -12,826 | 13,548 | -194.7% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents (Q) | — | — | — |
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| Cash & Cash Equivalents | 712,850 | 1,123,267 | -36.5% |
| Receivables Net Current (Q) | — | — | — |
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| Receivables Net Current | 393,170 | 346,599 | +13.4% |
| Inventory (Q) | — | — | — |
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| Inventory | 239,892 | 281,878 | -14.9% |
| Other Assets Current (Q) | — | — | — |
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| Other Assets Current | 178,769 | 150,784 | +18.6% |
| Total Current Assets (Q) | — | — | — |
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| Total Current Assets | 1,524,681 | 1,902,528 | -19.9% |
| Accounts Receivable (Q) | — | — | — |
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| Accounts Receivable | 362,785 | 316,429 | +14.6% |
| Non-Current Assets | |||
| Property, Plant & Equipment (Q) | — | — | — |
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| Property, Plant & Equipment | 122,226 | 112,453 | +8.7% |
| Deferred Tax Assets (Q) | — | — | — |
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| Deferred Tax Assets | 257,627 | 315,180 | -18.3% |
| Other Non-Current Assets (Q) | — | — | — |
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| Other Non-Current Assets | 64,928 | 44,342 | +46.4% |
| Operating Lease Right-of-Use Assets (Q) | — | — | — |
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| Operating Lease Right-of-Use Assets | 36,601 | 27,230 | +34.4% |
| Goodwill (Q) | — | — | — |
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| Networked Solutions | 921,654 | — | — |
| Outcomes | 161,401 | — | — |
| Resiliency Solutions | 611,948 | — | — |
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| Goodwill | 1,695,003 | — | — |
| Total Assets (Q) | — | — | — |
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| Total Assets | 3,978,204 | 3,503,142 | +13.6% |
| Intangible Assets (Q) | — | — | — |
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| Intangible Assets | 277,138 | — | — |
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| Customer Relationships | 230,962 | — | — |
| Developed Technology Rights | 44,072 | — | — |
| Trademarks And Trade Names | 2,104 | — | — |
| Other Assets | |||
| Intangible Assets Net Excluding Goodwill (Q) | — | — | — |
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| Intangible Assets Net Excluding Goodwill | 277,138 | — | — |
| Current Liabilities | |||
| Accounts Payable (Q) | — | — | — |
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| Accounts Payable | 172,924 | 164,417 | +5.2% |
| Other Liabilities Current (Q) | — | — | — |
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| Other Liabilities Current | 50,932 | 50,028 | +1.8% |
| Employee Related Liabilities Current (Q) | — | — | — |
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| Employee Related Liabilities Current | 91,652 | 90,241 | +1.6% |
| Taxes Payable Current (Q) | — | — | — |
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| Taxes Payable Current | 22,173 | 18,241 | +21.6% |
| Standard Product Warranty Accrual Current (Q) | — | — | — |
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| Standard Product Warranty Accrual Current | 12,969 | 14,934 | -13.2% |
| Deferred Revenue (Current) (Q) | — | — | — |
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| Deferred Revenue (Current) | 222,972 | 187,812 | +18.7% |
| Total Current Liabilities (Q) | — | — | — |
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| Total Current Liabilities | 573,622 | 983,420 | -41.7% |
| Non-Current Liabilities | |||
| Long-Term Debt (Q) | — | — | — |
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| Long-Term Debt | 1,573,835 | 786,137 | +100.2% |
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| Secured Debt | 1,573,835 | 786,137 | +100.2% |
| Standard Product Warranty Accrual Noncurrent (Q) | — | — | — |
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| Standard Product Warranty Accrual Noncurrent | 7,342 | 7,583 | -3.2% |
| Defined Benefit Pension Plan Liabilities Noncurrent (Q) | — | — | — |
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| Defined Benefit Pension Plan Liabilities Noncurrent | 60,163 | 61,253 | -1.8% |
| Deferred Tax Liabilities (Q) | — | — | — |
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| Deferred Tax Liabilities | 9,618 | 623 | +1443.8% |
| Operating Lease Liabilities (Q) | — | — | — |
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| Operating Lease Liabilities | 28,278 | 22,322 | +26.7% |
| Other Non-Current Liabilities (Q) | — | — | — |
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| Other Non-Current Liabilities | 96,398 | 132,725 | -27.4% |
| Total Liabilities (Q) | — | — | — |
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| Total Liabilities | 2,349,256 | 1,994,063 | +17.8% |
| Long-Term Debt (Q) | — | — | — |
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| Secured Debt | 1,610,000 | 1,265,000 | +27.3% |
| Stockholders' Equity | |||
| Common Stock (Q) | — | — | — |
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| Common Stock | 1,511,342 | 1,708,588 | -11.5% |
| Accumulated Other Comprehensive Income (Q) | — | — | — |
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| Accumulated Other Comprehensive Income | -69,331 | -96,383 | +28.1% |
| Retained Earnings (Q) | — | — | — |
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| Retained Earnings | 165,210 | -123,830 | +233.4% |
| Total Stockholders' Equity (Q) | — | — | — |
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| Total Stockholders' Equity | 1,607,221 | 1,488,375 | +8.0% |
| Minority Interest (Q) | — | — | — |
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| Minority Interest | 21,727 | 20,704 | +4.9% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest (Q) | — | — | — |
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| Accumulated Defined Benefit Plans Adjustment | 4,580 | 2,165 | +111.5% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | -210 | -210 | 0.0% |
| Accumulated Other Comprehensive Income | -69,331 | -96,383 | +28.1% |
| Accumulated Translation Adjustment | -59,321 | -83,958 | +29.3% |
| Aoci Including Portion Attributable To Noncontrolling Interest | -69,331 | -96,383 | +28.1% |
| Common Stock Including Additional Paid In Capital | 1,511,342 | 1,708,588 | -11.5% |
| Net Unrealized Gain (Loss) on Nonderivative Instruments | -14,380 | -14,380 | 0.0% |
| Noncontrolling Interest | 21,727 | 20,704 | +4.9% |
| Parent | 1,607,221 | 1,488,375 | +8.0% |
| Retained Earnings | 165,210 | -123,830 | +233.4% |
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| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 1,628,948 | 1,509,079 | +7.9% |
| Total Liabilities & Equity (Q) | — | — | — |
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| Total Liabilities & Equity | 3,978,204 | 3,503,142 | +13.6% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization (Q) | — | — | — |
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| Device Solutions · Operating Segments | 2,204 | 2,105 | +4.7% |
| Networked Solutions · Operating Segments | 3,113 | 3,563 | -12.6% |
| Outcomes · Operating Segments | 1,773 | 1,338 | +32.5% |
| Resiliency Solutions · Operating Segments | 2,524 | — | — |
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| Depreciation & Amortization | 18,536 | 12,068 | +53.6% |
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| Corporate Non Segment | 8,922 | 5,062 | +76.3% |
| Operating Lease Right Of Use Asset Amortization Expense (Q) | — | — | — |
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| Operating Lease Right Of Use Asset Amortization Expense | 3,309 | 2,923 | +13.2% |
| Stock-Based Compensation (Q) | — | — | — |
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| Stock-Based Compensation | 20,070 | 16,558 | +21.2% |
| Amortization of Financing Costs (Q) | — | — | — |
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| Amortization of Financing Costs | 1,849 | 1,781 | +3.8% |
| Increase Decrease In Deferred Income Taxes (Q) | — | — | — |
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| Increase Decrease In Deferred Income Taxes | 3,470 | -5,461 | +163.5% |
| Restructuring Costs (Q) | — | — | — |
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| Restructuring Costs | 462 | -25 | +1948.0% |
| Other Non-Cash Items (Q) | — | — | — |
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| Other Non-Cash Items | 175 | -338 | +151.8% |
| Change in Accounts Receivable (Q) | — | — | — |
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| Change in Accounts Receivable | -17,623 | 6,414 | -374.8% |
| Change in Inventory (Q) | — | — | — |
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| Change in Inventory | 2,364 | -10,099 | +123.4% |
| Increase Decrease In Other Current Assets (Q) | — | — | — |
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| Increase Decrease In Other Current Assets | 11,699 | -5,959 | +296.3% |
| Increase Decrease In Other Noncurrent Assets (Q) | — | — | — |
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| Increase Decrease In Other Noncurrent Assets | -2,419 | -1,087 | -122.5% |
| Increase Decrease In Accounts Payable And Accrued Liabilities (Q) | — | — | — |
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| Increase Decrease In Accounts Payable And Accrued Liabilities | 8,309 | 10,529 | -21.1% |
| Increase Decrease In Employee Related Liabilities (Q) | — | — | — |
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| Increase Decrease In Employee Related Liabilities | -33,472 | -48,692 | +31.3% |
| Increase Decrease In Deferred Revenue (Q) | — | — | — |
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| Increase Decrease In Deferred Revenue | 18,041 | 39,113 | -53.9% |
| Increase Decrease In Warranty (Q) | — | — | — |
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| Increase Decrease In Warranty | 2,076 | 241 | +761.4% |
| Increase Decrease In Restructuring Reserve (Q) | — | — | — |
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| Increase Decrease In Restructuring Reserve | -4,190 | -8,328 | +49.7% |
| Increase Decrease In Other Operating Capital Net (Q) | — | — | — |
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| Increase Decrease In Other Operating Capital Net | -741 | -2,950 | +74.9% |
| Net Cash from Operations (Q) | — | — | — |
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| Net Cash from Operations | 85,501 | 72,117 | +18.6% |
| Investing Activities | |||
| Capital Expenditures (Q) | — | — | — |
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| Capital Expenditures | -6,527 | -4,639 | -40.7% |
| Payments To Acquire Businesses Net Of Cash Acquired (Q) | — | — | — |
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| Payments To Acquire Businesses Net Of Cash Acquired | -515,055 | — | — |
| Other Investing Activities (Q) | — | — | — |
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| Other Investing Activities | 10 | 5 | +100.0% |
| Net Cash from Investing (Q) | — | — | — |
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| Net Cash from Investing | -521,572 | -4,634 | -11155.3% |
| Financing Activities | |||
| Proceeds From Long Term Lines Of Credit (Q) | — | — | — |
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| Proceeds From Long Term Lines Of Credit | 805,000 | — | — |
| Repayments Of Long Term Debt (Q) | — | — | — |
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| Repayments Of Long Term Debt | -460,000 | — | — |
| Proceeds From Issuance Of Common Stock (Q) | — | — | — |
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| Proceeds From Issuance Of Common Stock | 677 | 2,195 | -69.2% |
| Payments For Hedge Financing Activities (Q) | — | — | — |
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| Payments For Hedge Financing Activities | -92,817 | — | — |
| Share Repurchases (Q) | — | — | — |
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| Share Repurchases | -100,000 | — | — |
| Debt Issuance Costs (Q) | — | — | — |
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| Debt Issuance Costs | -21,166 | -175 | -11994.9% |
| Proceeds From Payments For Other Financing Activities (Q) | — | — | — |
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| Proceeds From Payments For Other Financing Activities | -274 | -259 | -5.8% |
| Net Cash from Financing (Q) | — | — | — |
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| Net Cash from Financing | 131,420 | 1,761 | +7362.8% |
| Supplemental | |||
| Income Taxes Paid (Q) | — | — | — |
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| Income Taxes Paid | 3,296 | 34,663 | -90.5% |
| Interest Paid (Q) | — | — | — |
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| Interest Paid | 5,959 | 6,608 | -9.8% |
| Deferred Tax On Purchase Of Convertible Note Hedge Contracts (Q) | — | — | — |
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| Deferred Tax On Purchase Of Convertible Note Hedge Contracts | 22,444 | — | — |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) | — | — | — |
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| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -2,896 | 2,786 | -203.9% |
| Net Change in Cash (Q) | — | — | — |
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| Net Change in Cash | -307,547 | 72,030 | -527.0% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) | — | — | — |
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| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 712,850 | 1,123,267 | -36.5% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.