Iteris

Iteris, Inc. engages in the provision of smart mobility infrastructure management solutions. The firms solutions enable public transportation agencies, municipalities, commercial entities and other transportation infrastructure providers to monitor, visualize, and optimize mobility infrastructure to help ensure roads are safe, travel is efficient, and communities thrive. It operates through the following segments: Roadway Sensors, and Transportation Systems. The Roadway Sensors segment provides advanced detection sensors and systems for traffic intersection management that collectively comprise family of Vantage sensors. The Transportation Systems segment provides engineering and specialized consulting services, cloud-enabled managed services, performance measurement and traffic analytics solutions. The company was founded by Joel Slutzky in 1969 and is headquartered in Santa Ana, CA.

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Iteris reports record revenue and market share gains, eyes growth opportunities

Iteris delivered strong financial performance with record revenue, bookings, and backlog. The company faces challenges related to internal controls and operating expenses but has opportunities to leverage market share gains, IIJA funding, and remote service delivery to drive future growth.

Iteris achieves record revenue and eyes strategic expansion opportunities

Iteris delivered exceptional financial performance in Q2 2023, driven by strong revenue growth, improved margins, and robust customer adoption of its ClearMobility platform. The company's focus on innovation and commitment to long-term opportunities in the smart mobility infrastructure management market bode well for its future prospects. However, managing an aggressive solutions roadmap and potential acquisitions will be key challenges to navigate.

Iteris reports record revenue growth, eyes connected vehicle safety for Q4

Iteris delivered strong revenue growth and backlog expansion in Q3 2023, despite facing margin pressures and supply chain challenges. The company's innovative product offerings and strategic pricing adjustments position it well for future growth and profitability.

Iteris reports record revenue and strategic achievements, eyes growth opportunities

Iteris delivered strong financial performance in Q4 2023, with record revenue and strategic achievements. Despite challenges in the supply chain and internal controls evaluation, the company remains optimistic about long-term growth prospects. Opportunities for growth lie in organic revenue expansion, improved margins, and enhanced service offerings.

Iteris reports record Q1 revenue growth driven by ClearMobility success

Iteris delivered impressive Q1 2024 results with record revenue and profitability, driven by strong customer adoption of the ClearMobility platform. The company's focus on innovation and product quality contributed to significant revenue growth across product and service segments.
While facing challenges in sustaining growth and potential acquisition integration, Iteris remains well-positioned to capitalize on opportunities for market expansion and continued progress towards its strategic goals.

Iteris reports record revenue and margin growth, eyes acquisitions for expansion

Iteris' Q2 2024 performance reflects strong revenue growth, margin improvement, and customer adoption. While challenges exist in margin enhancement timing and fund dispersal delays, the company remains focused on scalable solutions and strategic acquisitions for future growth.

Iteris posts solid Q3 results, eyes international expansion and partnerships

Iteris demonstrated strong financial performance in Q3, with revenue growth, margin improvements, and positive EBITDA trends, underlining operational effectiveness.
While facing challenges such as bookings delays and labor availability issues, the company is leveraging strengths like market demand for ClearMobility and revenue growth guidance.
With opportunities in international markets, strategic partnerships, and ongoing operational enhancements, Iteris is positioning itself for long-term growth and profitability.

Iteris Reports Growth and Margin Improvement in Q4 2024

Iteris demonstrated solid financial performance in Q4 2024 with improvements in revenue, gross margins, and adjusted EBITDA. The company successfully increased its competitive procurement win rate and expanded its product and service offerings. Despite challenges in product revenue and booking lumpiness, Iteris is poised for continued growth with promising new technologies and a strong backlog.

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Iteris is a smart mobility infrastructure management firm that applies cloud computing, artificial intelligence, advanced sensors, advisory services, and managed services to achieve safe, efficient, and sustainable mobility.

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris has been invited to present at the 24th Annual Oppenheimer & Co Technology, Internet & Communications Conference on Wednesday, August 11, 2021.

Iteris to Present at Oppenheimer & Co Technology, Internet & Communications Conference on August 11, 2021

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris has been selected by the City of Lake Forest, CA for a multi-year smart mobility program to reduce congestion and improve safety citywide.

Iteris Selected by Lake Forest, CA to Improve Citywide Safety and Mobility

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris will conduct a conference call on August 5 at 4:30 p.m. ET to discuss its financial results for the fiscal first quarter ended June 30, 2021.

Iteris Sets Fiscal First Quarter 2022 Conference Call for Thursday, August 5, 2021 at 4:30 p.m. ET

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #CVO--Iteris has recently been awarded two additional contracts from the Utah Department of Transportation with a total contract value of over $2.7 million.

Iteris Continues Western U.S. Expansion with Multiple Utah Department of Transportation Contracts for Smart Mobility Programs

Iteris, Inc. (ITI) CEO Joe Bergera on Q4 2021 Results - Earnings Call Transcript

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris today reported financial results for its fiscal fourth quarter and full year ended March 31, 2021.

Iteris Reports Record Revenue and Backlog for Fiscal Fourth Quarter and Full Year 2021

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris will participate in the Stifel 2021 Virtual Cross Sector Insight Investor Conference on Tuesday, June 8, 2021.

Iteris to Participate at Stifel Virtual Cross Sector Insight Investor Conference on June 8, 2021

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris will participate in the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on Wednesday, June 2, 2021.

Iteris to Participate at Craig-Hallum Institutional Investor Virtual Conference on June 2, 2021

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris will conduct a conference call on Tuesday, June 1 at 4:30 p.m. ET to discuss its financial results for the fiscal fourth quarter and full year.

Iteris Sets Fiscal Fourth Quarter and Full Year 2021 Conference Call for Tuesday, June 1, 2021 at 4:30 p.m. ET

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris is awarded a three-year contract by the City of San Antonio with a potential value of up to $1.1m, expanding its market penetration in Texas.

Iteris Awarded $1.1 Million Contract by City of San Antonio for Traffic Signal Optimization Engineering Services

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris has been awarded a $3.3m contract by the City of Modesto to supply Iteris' Vantage Vector detection systems throughout the city.

Iteris Awarded $3.3 Million Contract by City of Modesto for Smart Mobility Initiative

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris today announced that it has been invited to present at the 16th Annual Needham Virtual Technology & Media Conference on Wednesday, May 19.

Iteris to Present at 16th Annual Needham Virtual Technology & Media Conference on May 19, 2021

AUBURN HILLS, Mich.--(BUSINESS WIRE)-- #SmartMobility--Continental and Iteris explore intelligent infrastructure solutions to advance connected and automated vehicle tech with real-world V2X solutions.

Continental and Iteris Collaborate to Explore Intelligent Infrastructure Technology for Safer, More Efficient Roadways

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #CAIT--Iteris has been selected by Rutgers University's CAIT to support the design and implementation of a smart mobility testing ground in New Jersey.

Iteris Selected by Rutgers University to Support New Jersey Department of Transportation and Middlesex County's Connected and Automated Vehicle Initiative

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #ATMS--The Minnesota Department of Transportation has launched the first statewide deployment of Iteris' newly expanded ClearGuide SaaS solution.

Minnesota Department of Transportation Leverages Iteris' ClearMobility Cloud for Improved Statewide Mobility

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #ARCIT--Iteris has received an additional $3.15m in funding from the FHWA to provide continued development, evolution and deployment support for the ARC-IT.

Iteris Receives $3.15 Million in Additional Task Order Funding from Federal Highway Administration to Support Nation's Architecture Reference for Cooperative and Intelligent Transportation

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SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--OC 405 Partners Joint Venture is expanding its use of Iteris' ClearGuide™ solution as part of the I-405 Improvement Project in southern California.

OC 405 Partners Joint Venture Extends Use of Iteris' ClearGuide SaaS Solution to Manage Traffic During I-405 Improvement Project

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris announces a $500,000 intelligent transportation system and traffic signal synchronization project by the Illinois Department of Transportation.

Iteris Continues Midwest Expansion With New Illinois Department of Transportation Contract for Intelligent Transportation Systems and Traffic Signal Synchronization Program

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #Dragados--Iteris has been awarded $3.5M by the Pulice-FNF-Flatiron Joint Venture for its role in Arizona DOT's I-10 Broadway Curve Improvement Project.

Iteris Awarded $3.5 Million Contract for Role in Arizona DOT's I-10 Broadway Curve Improvement Project

Iteris has a dominant hardware market share across the signalized intersection industry. Due to their hardware presence and relationships with thousands of municipal agencies, they are in a unique position to upsell their SaaS offering.

Iteris: A Niche Within A Niche

SANTA ANA, Calif.--(BUSINESS WIRE)---- $ITI #IoT--Iteris announces the award of a three-year IDIQ contract by the Texas Department of Transportation with a potential value of up to $1.2 million.

Iteris Awarded $1.2 Million Texas DOT IDIQ Contract for Smart Mobility and Traffic Engineering Services

SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. “Given Iteris participates in a large and dynamic market with multiple opportunities, the Iteris Board of Directors has decided to initiate a comprehensive review of strategic alternatives to maximize shareholder value,” said Tom Thom

Iteris Initiates Review of Strategic Alternatives

Rekor Systems Inc

Smart mobility infrastructure management company Iteris Inc's (NASDAQ: ITI) board unanimously rejected the non-binding, unsolicited proposal from Rekor Systems Inc (NASDAQ: REKR) to acquire Iteris for 17% cash and 83% Rekor shares at current stock prices. Iteris Board unanimously rejected the unsolicited proposal as it significantly undervalues the company, according to Iteris Chairman Tom Thomas.

Iteris Shares Are Trading Higher As Board Rejects Rekor Systems Acquisition Proposal

SANTA ANA, Calif.--(BUSINESS WIRE)--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that its Board of Directors has reviewed and unanimously rejected the non-binding, unsolicited proposal disclosed today by Rekor Systems (NASDAQ: REKR) to acquire Iteris for consideration consisting of approximately 17% cash and 83% Rekor shares at current stock prices. “After a careful and thorough review, conducted in consultation with our independent

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