ITRON, INC.

For the period ended Mar 31, 2025. Filed May 1, 2025.

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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, 2025 · Filed May 1, 2025

ITRI$99.58-0.4%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations

	Three Months Ended March 31,
In thousands, except per share data	2025	2024
Revenues
Product revenues	$523,141	$527,822
Service revenues	84,010	75,620
Total revenues	607,151	603,442
Cost of revenues
Product cost of revenues	346,442	356,707
Service cost of revenues	43,490	41,356
Total cost of revenues	389,932	398,063
Gross profit	217,219	205,379
Operating expenses
Sales, general and administrative	86,911	85,971
Research and development	50,090	52,401
Amortization of intangible assets	4,479	3,986
Restructuring	(553)	198
Loss on sale of business	79	23
Total operating expenses	141,006	142,579
Operating income	76,213	62,800
Other income (expense)
Interest income	11,710	3,846
Interest expense	(5,593)	(1,893)
Other income (expense), net	(51)	463
Total other income (expense)	6,066	2,416
Income before income taxes	82,279	65,216
Income tax provision	(16,929)	(13,429)
Net income	65,350	51,787
Net income (loss) attributable to noncontrolling interests	(124)	66
Net income attributable to Itron, Inc.	$65,474	$51,721
Net income per common share - Basic	$1.44	$1.13
Net income per common share - Diluted	$1.42	$1.12
Weighted average common shares outstanding - Basic	45,338	45,652
Weighted average common shares outstanding - Diluted	46,172	46,357

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