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Itron

Logo: Itron, Public domain, via Wikimedia Commons4

American technology company

Itron, Inc. is an American technology company that offers products and services for energy and water resource management.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1977Founded1

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  • TickerITRI on Nasdaq1
  • IndustryInstruments For Meas & Testing of Electricity & Elec Signals1
  • HeadquartersLiberty Lake1
  • Websitewww.itron.com
  • Incorporated inWA5
  • Business address2111 N Molter Road, Liberty Lake, Wa 990195
  • Filer categoryLarge accelerated filer5

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Itron OpenWay Electricity Meter with Two-Way Communications
Photo: Dwight Burdette, CC BY 3.0, via Wikimedia Commons7

Itron, Inc. is an American technology company that offers products and services for energy and water resource management. It is headquartered in Liberty Lake, Washington, United States. The company's products measure and analyze electricity, gas and water consumption. Its products include electricity, gas, water and thermal energy measurement devices and control technology, communications systems, software, as well as managed and consulting services.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

37.7%Gross margin8
13.2%Operating margin8
12.7%Net margin8
-3.0%Revenue growth, 20258
17.5%Return on equity8
0.46×Debt to equity8
$383.1MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 85% of the revenue Itron broke down this way in fiscal 2025.

  1. Product$2.0B885%down 6% from 2024
  2. Service$358.2M815%up 16% from 2024
Products and services by year
Products and services202320242025
Product$1.9B$2.1B$2.0B
Service$310.1M$309.5M$358.2M

Business segments

Networked Solutions brought in 66% of the revenue Itron broke down this way in fiscal 2025.

  1. Networked Solutions$1.6B866%down 6% from 2024
  2. Device Solutions$447.1M819%down 6% from 2024
  3. Outcomes$359.7M815%up 15% from 2024
  4. Resiliency Solutions$3.0M80%
Business segments by year
Business segments202320242025
Networked Solutions$1.5B$1.7B$1.6B
Device Solutions$455.7M$476.6M$447.1M
Outcomes$267.6M$314.2M$359.7M
Resiliency Solutions$3.0M

Regions

United States And Canada brought in 81% of the revenue Itron broke down this way in fiscal 2025.

  1. United States And Canada$1.9B881%down 4% from 2024
  2. EMEA$318.5M813%down 6% from 2024
  3. Asia Pacific$121.2M85%up 28% from 2024
Regions by year
Regions202320242025
United States And Canada$1.7B$2.0B$1.9B
EMEA$340.9M$339.0M$318.5M
Asia Pacific$99.1M$94.8M$121.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue62¢$1.5B
  • Research and development9¢$207.0M
  • Selling, general and admin15¢$353.0M
  • Income tax2¢$38.9M
  • Profit13¢$301.1M

Out of $2.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending6¢$22.9M
  • Share buybacks25¢$100.0M
  • Kept or used elsewhere70¢$283.1M

Out of $406.0M of cash from operations.8

Financial statements

Revenue91011128$2.4B in 2025−5% since 2019
0$1.0B$2.0B$3.0B2019: $2.5B$2.5B20192020: $2.2B$2.2B2020−13%2021: $2.0B$2.0B2021−9%2022: $1.8B$1.8B2022−9%2023: $2.2B$2.2B2023+21%2024: $2.4B$2.4B2024+12%2025: $2.4B$2.4B2025−3%
Gross profit91011128$892.1M in 2025+19% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $752.3M$752.3M20192020: $602.2M$602.2M2020−20%2021: $573.2M$573.2M2021−5%2022: $522.2M$522.2M2022−9%2023: $713.9M$713.9M2023+37%2024: $839.3M$839.3M2024+18%2025: $892.1M$892.1M2025+6%
Operating income91011128$313.1M in 2025+136% since 2019
-$100.0M0$100.0M$200.0M$300.0M$400.0M2019: $132.7M$132.7M20192020: -$10.4M-$10.4M20202021: -$79.3M-$79.3M2021+663%2022: -$7.4M-$7.4M2022−91%2023: $128.9M$128.9M20232024: $264.1M$264.1M2024+105%2025: $313.1M$313.1M2025+19%
Net income91011128$301.1M in 2025+514% since 2019
-$100.0M0$100.0M$200.0M$300.0M$400.0M2019: $49.0M$49.0M20192020: -$58.0M-$58.0M20202021: -$81.3M-$81.3M2021+40%2022: -$9.7M-$9.7M2022−88%2023: $96.9M$96.9M20232024: $239.1M$239.1M2024+147%2025: $301.1M$301.1M2025+26%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Total revenues$2.4B$2.4B$2.2B
Total cost of revenues$1.5B$1.6B$1.5B
Gross profit$892.1M$839.3M$713.9M
Sales, general and administrative$353.0M$339.1M$312.8M
Research and development$207.0M$215.0M$208.7M
Amortization of intangible assets$18.0M$17.8M$18.9M
Restructuring$931.0K$2.7M$44.0M
Loss on sale of business$79.0K$597.0K$667.0K
Total operating expenses$579.0M$575.2M$585.0M
Operating income$313.1M$264.1M$128.9M
Interest income$48.4M$34.6M$9.3M
Interest expense-$22.5M-$15.4M-$8.3M
Other income (expense), net$3.3M$1.2M-$2.4M
Total other income (expense)$29.2M$20.4M-$1.5M
Total income before income taxes$342.3M$284.5M$127.4M
Income tax provision-$38.9M-$43.4M-$29.1M
Net income$303.3M$241.1M$98.3M
Net income attributable to noncontrolling interests$2.3M$2.0M$1.4M
Net income attributable to Itron, Inc.$301.1M$239.1M$96.9M
Net income (loss) per common share - Basic (in dollars per share)$6.62$5.27$2.13
Net income (loss) per common share - Diluted (in dollars per share)$6.50$5.18$2.11
Weighted average common shares outstanding - Basic (in shares)45.5M shares45.4M shares45.4M shares
Weighted average common shares outstanding - Diluted (in shares)46.3M shares46.2M shares45.8M shares

Compare Itron with another company

The story

Itron, a spinoff of Spokane-based Avista Corp., formerly Washington Water Power Co., was founded in 1977 in Hauser Lake, Idaho when a small group of engineers wanted to build a more efficient way to read utility meters. In 1984, Itron experienced global expansion into the Asian market and developed new manufacturing plants in France and the U.K. By 2006, Itron consulting teams were created to offer services for energy efficiency programs, renewables, conservation and demand response. In 2010, Itron was recognized for its commitment to U.S.-based manufacturing when President Obama announced the award of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States.

Within the same year, Itron and Cisco formed an alliance to deliver Internet Protocol (IP) communications to the smart grid market thus changing networking capabilities for utilities. Itron is a founding member of the Smart Cities Council, having joined in 2013. Itron is also a partner of Microsoft CityNext helping with global Smart City initiatives. After developing Itron OpenWay Riva adaptive communications technology (ACT), Itron launched the Itron Riva Developers Community for the Internet of Things, for developers interested in developing software applications for the IoT space.

Itron completed its acquisition of Silver Spring Networks in January 2018; both are American providers of smart meters, grid networks, and software and services. Silver Spring's Gen5 platform, which provided many of the same features as Itron's OpenWay Riva, has been integrated into a common framework.

Acquisitions

2024 - Itron acquires Elpis Squared

2021 - Itron acquires SELC, a Street Lighting Controls company

2017 - Itron acquires Silver Spring Networks

2017 - Itron acquires Comverge

2012 - Itron acquires SmartSynch, cellular communications and also acquires C&N GasGate Technology for enhanced smart gas distribution systems.

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2007 - Itron acquires Actaris Metering Systems.

2004 – Itron acquires Schlumberger Electricity Metering.

2002 - Itron acquires software for distributed system design, field workforce management and energy forecasting.

1996 - Itron acquires UTS, bringing MV-90 metering software application to its product portfolio.

1995 - AEG Meters are acquired with production sites in Italy, Germany, Spain & South Africa.

1993 – Itron acquires two German companies, Heliowatt and Danyl.

1989 - Itron acquires a number of metering companies including Thorn Emi Gas Metering in the U.K. and Bosco Spa in Italy.

From Wikipedia’s article on Itron, shared under CC BY-SA 4.0.6

Leadership

Who has led Itron, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Leroy D. Nosbaum2006–2012
  2. Malcolm Unsworth2010–2011
  3. Philip Mezey2013–2019
  4. Thomas Deitrich2019–now

Chair

  1. Leroy D. Nosbaum2006–2009
  2. Jon E. Eliassen2010–2016

President

  1. Robert D. Neilson2006
  2. Malcolm Unsworth2008–2011
  3. Leroy D. Nosbaum2011–2012
  4. Philip Mezey2012–2019
  5. Marcel Regnier2012–2013
  6. Thomas Deitrich2019–now

Chief financial officer

  1. Steven M. Helmbrecht2006–2014
  2. William Mark Schmitz2014–2017
  3. Robert Henry Alban Farrow2017
  4. Joan S. Hooper2017–now

Chief operating officer

  1. Robert D. Neilson2006
  2. Philip Mezey2007–2012
  3. Malcolm Unsworth2007–2009
  4. Marcel Regnier2008–2013
  5. J. W. Holleran2013–2015
  6. Thomas Deitrich2015–2019
19801990200020102020
Board members and other officers (46)

Former names

  • ITRON INC /WA/Oct 8, 1996 to Jul 3, 20195

Timeline

  1. Sep 23, 2019New chief executive Thomas Deitrich becomes CEO16
  2. Jan 2, 2013New chief executive Philip Mezey becomes CEO17
  3. Feb 16, 2010New chief executive Malcolm Unsworth becomes CEO18
  4. Jan 23, 2006New chief executive Leroy D. Nosbaum becomes CEO19
  5. Nov 5, 1993Went public Listed on NASDAQ1
  6. 1977Founded Founded1

Filings

754 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 51 major events, 425 insider forms, 20 large holders, 238 other. The latest 20:

  1. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  5. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  6. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  7. Oct 5, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 4, 20264 PRIMARY DOCUMENT EDGAR
  9. Sep 3, 2026144 EDGAR
  10. Aug 26, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 25, 2026144 EDGAR
  12. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  16. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  19. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  20. Aug 24, 2026144 EDGAR

The 754 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 20 such filings since October 2021, the latest 10:

  1. Apr 30, 2026SCHEDULE 13G
  2. Apr 29, 2026SCHEDULE 13G
  3. Mar 27, 2026SCHEDULE 13G/A
  4. Nov 6, 2025SCHEDULE 13G/A
  5. Nov 8, 2024SC 13G/A
  6. Nov 8, 2024SC 13G
  7. Oct 18, 2024SC 13G/A
  8. Feb 14, 2024SC 13G/A
  9. Feb 13, 2024SC 13G/A
  10. Jan 22, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.7,131,562$617.1M0.0%−18,183
Vanguard Portfolio Management LLC3,497,943$302.7M0.0%−8,724
Vanguard Capital Management LLC2,000,004$173.1M0.0%−14,116
Impax Asset Management Group plc1,926,905$166.7M1.1%−266,243
State Street Corp1,810,117$156.6M0.0%+4,437
Dimensional Fund Advisors LP1,768,271$153.0M0.0%+232,190
Invesco Ltd.1,531,300$132.5M0.0%−69,266
Geode Capital Management, LLC1,242,308$107.5M0.0%+56,202
First Trust Advisors LP1,214,181$105.1M0.1%+244,953
Amundi1,154,999$99.9M0.0%+84,698
Soros Fund Management LLC1,137,853$98.5M1.6%+360,518
Bank of New York Mellon Corp1,116,874$96.6M0.0%+63,488
Robeco Schweiz AG1,053,799$91.2M1.5%+102,064
Schroder Investment Management Group785,332$68.0M0.0%+205,394
Morgan Stanley728,586$63.0M0.0%−39,505
Assenagon Asset Management S.A.673,420$58.3M0.0%+544,126
Mackenzie Financial Corp619,540$53.6M0.1%+285,315
Norges Bank618,152$53.5M0.0%New
Wellington Management Group Llp612,609$53.0M0.0%+421,585
Charles Schwab Investment Management Inc596,769$51.6M0.0%+5,849
Arrowstreet Capital, Limited Partnership550,907$47.7M0.0%−122,513
Ameriprise Financial Inc541,454$46.9M0.0%+380,226
Neuberger Berman Group LLC537,480$46.4M0.0%+16,073
Northern Trust Corp522,731$45.2M0.0%+12,764
Grantham, Mayo, Van Otterloo & Co. LLC522,662$45.2M0.1%+75,522

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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