Q4 2025 Itron Inc Earnings Call Transcript
Key Points
- Itron Inc (ITRI) delivered record earnings and profitability in Q4 2025, with revenue of $572 million and adjusted EBITDA of $99 million.
- The company reported a strong free cash flow of $112 million, reflecting robust financial health.
- Itron Inc (ITRI) achieved a record backlog of $4.5 billion, driven by strong demand for Grid Edge Intelligence solutions.
- The company expanded its offerings through strategic acquisitions, including Urbint and Locusview, enhancing its Resiliency Solutions segment.
- Annual recurring revenue (ARR) grew by 20% year-over-year, reaching $368 million, indicating strong growth in recurring revenue streams.
- Device Solutions revenue decreased by 7% on a constant currency basis due to declines in legacy electricity products and project deployment timing.
- Network Solutions revenue fell by 15% year-over-year, primarily due to project deployment timing issues.
- The new Resiliency Solutions segment, while contributing to revenue growth, is expected to be dilutive to 2026 earnings per share due to acquisition costs.
- Itron Inc (ITRI) anticipates a decline in 2026 non-GAAP earnings per share compared to 2025, partly due to recent acquisitions.
- The company's Q1 2026 revenue guidance indicates a 6% decline compared to Q1 2025, reflecting challenges in maintaining growth momentum.
Good day, and thank you for standing by. Welcome to Itron's fourth-quarter 2025 earnings conference call. (Operator Instructions) Please note that today's conference is being recorded.
I will now hand the conference over to your speaker host for today, Paul Vincent, Vice President of Investor Relations. Please go ahead.
Good morning, and welcome to Itron's fourth-quarter 2025 earnings conference call. Tom Deitrich, Itron's President and Chief Executive Officer; and Joan Hooper, Senior Vice President and Chief Financial Officer, will review Itron's fourth quarter results and provide a general business update and outlook.
Earlier today, the company issued a press release announcing its results. This release also includes details related to the conference call and webcast replay information. Accompanying today's call is a presentation that is available through the webcast and on our corporate website under the Investor Relations tab. Following prepared remarks, the call will open for
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