ITRON INC

For the period ended Mar 31, 2024. Filed May 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

ITRI$99.97+1.6%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Three Months Ended March 31,
In thousands, except per share data	2024	2023
Revenues
Product revenues	$527,822	$416,324
Service revenues	75,620	78,294
Total revenues	603,442	494,618
Cost of revenues
Product cost of revenues	356,707	297,343
Service cost of revenues	41,356	40,907
Total cost of revenues	398,063	338,250
Gross profit	205,379	156,368
Operating expenses
Sales, general and administrative	85,971	75,521
Research and development	52,401	49,565
Amortization of intangible assets	3,986	5,048
Restructuring	198	36,609
Loss on sale of business	23	18
Total operating expenses	142,579	166,761
Operating income (loss)	62,800	(10,393)
Other income (expense)
Interest income	3,846	1,818
Interest expense	(1,893)	(2,057)
Other income (expense), net	463	(1,475)
Total other income (expense)	2,416	(1,714)
Income (loss) before income taxes	65,216	(12,107)
Income tax benefit (provision)	(13,429)	70
Net income (loss)	51,787	(12,037)
Net income (loss) attributable to noncontrolling interests	66	(201)
Net income (loss) attributable to Itron, Inc.	$51,721	$(11,836)
Net income (loss) per common share - Basic	$1.13	$(0.26)
Net income (loss) per common share - Diluted	$1.12	$(0.26)
Weighted average common shares outstanding - Basic	45,652	45,281
Weighted average common shares outstanding - Diluted	46,357	45,281

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