Itron, Inc. (ITRI) financial statements: income statement, balance sheet and cash flow
Itron, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Itron, Inc. reported revenue of $2.4B (-3.0% year on year) and net income of $303.3M (+25.8% year on year).
Income statement
Itron, Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$2.4B
$2.4B
$2.2B
$1.8B
Total cost of revenues
$1.5B
$1.6B
$1.5B
$1.3B
Gross profit
$892.1M
$839.3M
$713.9M
$522.2M
Sales, general and administrative
$353.0M
$339.1M
$312.8M
$290.5M
Research and development
$207.0M
$215.0M
$208.7M
$185.1M
Amortization of intangible assets
$18.0M
$17.8M
$18.9M
$25.7M
Restructuring
$931.0K
$2.7M
$44.0M
($13.6M)
Loss on sale of business
$79.0K
$597.0K
$667.0K
$3.5M
Total operating expenses
$579.0M
$575.2M
$585.0M
$529.6M
Operating income
$313.1M
$264.1M
$128.9M
($7.4M)
Interest income
$48.4M
$34.6M
$9.3M
$2.6M
Interest expense
($22.5M)
($15.4M)
($8.3M)
($6.7M)
Other income (expense), net
$3.3M
$1.2M
($2.4M)
($4.2M)
Total other income (expense)
$29.2M
$20.4M
($1.5M)
($8.3M)
Total income before income taxes
$342.3M
$284.5M
$127.4M
($15.7M)
Income tax provision
($38.9M)
($43.4M)
($29.1M)
$6.2M
Net income
$303.3M
$241.1M
$98.3M
($9.5M)
Net income attributable to noncontrolling interests
$2.3M
$2.0M
$1.4M
$185.0K
Net income attributable to Itron, Inc.
$301.1M
$239.1M
$96.9M
($9.7M)
Net income (loss) per common share - Basic (in dollars per share)
$6.62
$5.27
$2.13
-$0.22
Net income (loss) per common share - Diluted (in dollars per share)
$6.50
$5.18
$2.11
-$0.22
Weighted average common shares outstanding - Basic (in shares)
45.5M
45.4M
45.4M
45.1M
Weighted average common shares outstanding - Diluted (in shares)
46.3M
46.2M
45.8M
45.1M
Itron, Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$562.9M
$587.0M
$581.6M
$606.8M
Total cost of revenues
$332.3M
$350.7M
$362.1M
$383.1M
Gross profit
$230.6M
$236.3M
$219.5M
$223.6M
Sales, general and administrative
$89.7M
$105.4M
$83.1M
$87.6M
Research and development
$56.1M
$55.0M
$50.0M
$53.8M
Amortization of intangible assets
$8.5M
$8.2M
$4.4M
$4.5M
Restructuring
$233.0K
$214.0K
$188.0K
$1.2M
Loss on sale of business
$0
$0
$0
$0
Total operating expenses
$154.6M
$168.7M
$137.8M
$147.2M
Operating income
$76.1M
$67.6M
$81.8M
$76.4M
Interest income
$6.3M
$5.7M
$13.6M
$12.3M
Interest expense
($5.8M)
($5.8M)
($5.6M)
($5.6M)
Other income (expense), net
$3.7M
($233.0K)
$996.0K
$414.0K
Total other income (expense)
$4.1M
($382.0K)
$8.9M
$7.1M
Consolidated income before income taxes
$80.2M
$67.2M
$90.7M
$83.5M
Income tax provision
($26.7M)
($13.6M)
($24.5M)
($14.7M)
Net income
$53.5M
$53.6M
$66.2M
$68.8M
Net income attributable to noncontrolling interests
$201.0K
$127.0K
$610.0K
$412.0K
Net income attributable to Itron, Inc.
$53.3M
$53.5M
$65.6M
$68.3M
Net income per common share - Basic
$1.21
$1.20
$1.43
$1.50
Net income per common share - Diluted
$1.19
$1.18
$1.41
$1.47
Weighted average common shares outstanding - Basic
44.1M
44.7M
45.7M
45.6M
Weighted average common shares outstanding - Diluted
44.6M
45.5M
46.7M
46.4M
Balance sheet
Itron, Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.0B
$1.1B
$302.0M
$202.0M
Accounts receivable, net
$367.8M
$350.5M
$303.8M
$280.4M
Inventories
$242.9M
$270.7M
$283.7M
$228.7M
Other current assets
$191.2M
$143.5M
$159.9M
$118.4M
Total current assets
$1.8B
$1.8B
$1.0B
$829.6M
Property, plant, and equipment, net
$112.2M
$115.4M
$128.8M
$140.1M
Deferred tax assets, net
$265.2M
$310.3M
$247.2M
$212.0M
Other long-term assets
$63.4M
$41.8M
$38.8M
$39.9M
Operating lease right-of-use assets, net
$29.3M
$29.0M
$41.2M
$52.8M
Intangible assets, net
$83.3M
$43.1M
$46.3M
$64.9M
Goodwill
$1.3B
$1.1B
$1.1B
$1.0B
Total assets
$3.7B
$3.4B
$2.6B
$2.4B
Accounts payable
$156.3M
$144.9M
$199.5M
$237.2M
Other current liabilities
$58.9M
$61.2M
$54.4M
$42.9M
Wages and benefits payable
$122.2M
$137.4M
$135.8M
$89.4M
Taxes payable
$16.6M
$19.7M
$8.6M
$15.3M
Current portion of debt, net
$459.5M
—
—
—
Current portion of warranty
$10.9M
$14.3M
$14.7M
$18.2M
Unearned revenue
$187.8M
$150.7M
$124.2M
$95.6M
Total current liabilities
$1.0B
$528.3M
$537.2M
$498.6M
Long-term debt, net
$788.8M
$1.2B
$454.8M
$452.5M
Long-term warranty
$7.3M
$7.8M
$7.5M
$7.5M
Pension benefit obligation
$62.0M
$59.5M
$63.9M
$57.8M
Deferred tax liabilities, net
$623.0K
$565.0K
$697.0K
$833.0K
Operating lease liabilities
$19.6M
$25.4M
$32.7M
$44.4M
Other long-term obligations
$91.9M
$132.2M
$176.0M
$124.9M
Total liabilities
$2.0B
$2.0B
$1.3B
$1.2B
Preferred stock, no par value, 10,000 shares authorized, no shares issued or outstanding
0
0
0
0
Common stock, no par value, 150,000 and 75,000 shares authorized, 44,929 and 45,131 shares issued and outstanding
1.7B
1.7B
1.8B
1.8B
Accumulated other comprehensive loss, net
($56.5M)
($109.9M)
($81.2M)
($94.7M)
Retained earnings (accumulated deficit)
$111.8M
($189.3M)
($428.4M)
($525.3M)
Total Itron, Inc. shareholders' equity
$1.7B
$1.4B
$1.3B
$1.2B
Noncontrolling interests
$21.6M
$20.8M
$20.5M
$23.1M
Total equity
$1.7B
$1.4B
$1.3B
$1.2B
Total liabilities and equity
$3.7B
$3.4B
$2.6B
$2.4B
Common stock, shares authorized (in shares)
150.0M
—
—
—
Itron, Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$745.2M
$712.9M
$1.3B
$1.2B
Accounts receivable, net
$351.1M
$393.2M
$369.5M
$340.3M
Inventories
$258.7M
$239.9M
$255.3M
$283.3M
Other current assets
$194.5M
$178.8M
$187.3M
$141.0M
Total current assets
$1.5B
$1.5B
$2.1B
$2.0B
Property, plant, and equipment, net
$121.6M
$122.2M
$112.0M
$115.6M
Deferred tax assets, net
$271.5M
$257.6M
$260.0M
$318.6M
Other long-term assets
$60.7M
$64.9M
$44.2M
$42.5M
Operating lease right-of-use assets, net
$33.4M
$36.6M
$32.7M
$35.4M
Intangible assets, net
$266.1M
$277.1M
$30.0M
$34.4M
Goodwill
$1.7B
$1.7B
$1.1B
$1.1B
Total assets
$4.0B
$4.0B
$3.7B
$3.6B
Accounts payable
$146.7M
$172.9M
$145.3M
$123.1M
Other current liabilities
$55.1M
$50.9M
$59.7M
$62.3M
Wages and benefits payable
$96.6M
$91.7M
$110.5M
$106.8M
Taxes payable
$24.7M
$22.2M
$15.9M
$13.6M
Current portion of debt, net
$0
$0
$458.9M
$458.3M
Current portion of warranty
$10.9M
$13.0M
$12.9M
$13.3M
Unearned revenue
$230.1M
$223.0M
$184.2M
$195.5M
Total current liabilities
$564.2M
$573.6M
$987.4M
$973.1M
Long-term debt, net
$1.6B
$1.6B
$787.9M
$787.0M
Long-term warranty
$7.1M
$7.3M
$7.4M
$7.5M
Pension benefit obligation
$59.9M
$60.2M
$65.7M
$65.9M
Deferred tax liabilities, net
$1.4M
$9.6M
$808.0K
$661.0K
Operating lease liabilities
$26.1M
$28.3M
$22.9M
$27.1M
Other long-term obligations
$121.5M
$96.4M
$125.3M
$128.2M
Total liabilities
$2.4B
$2.3B
$2.0B
$2.0B
Preferred stock, no par value, 10,000 shares authorized, no shares issued or outstanding
0
0
0
0
Common stock, no par value, 150,000 shares authorized, 43,774 and 44,929 shares issued and outstanding
1.5B
1.5B
1.7B
1.7B
Accumulated other comprehensive loss, net
($74.4M)
($69.3M)
($62.9M)
($59.9M)
Retained earnings
$218.5M
$165.2M
$10.1M
($55.5M)
Total Itron, Inc. shareholders' equity
$1.6B
$1.6B
$1.7B
$1.6B
Noncontrolling interests
$21.9M
$21.7M
$20.2M
$21.1M
Total equity
$1.6B
$1.6B
$1.7B
$1.6B
Total liabilities and equity
$4.0B
$4.0B
$3.7B
$3.6B
Cash flow statement
Itron, Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$303.3M
$241.1M
$98.3M
($9.5M)
Depreciation and amortization of intangible assets
$49.5M
$56.3M
$55.8M
$66.8M
Non-cash operating lease expense
$11.9M
$20.6M
$16.5M
$16.3M
Stock-based compensation
$62.4M
$43.9M
$28.4M
$21.9M
Amortization of prepaid debt fees
$7.1M
$5.5M
$3.7M
$3.5M
Deferred taxes, net
$64.9M
($38.8M)
($34.6M)
($32.6M)
Loss on sale of business
$79.0K
$597.0K
$667.0K
$3.5M
Restructuring, non-cash
($25.0K)
($191.0K)
$385.0K
($624.0K)
Other adjustments, net
($2.2M)
($895.0K)
($169.0K)
$11.7M
Accounts receivable
($4.2M)
($49.1M)
($19.5M)
$5.1M
Inventories
$32.7M
$6.0M
($52.1M)
($68.1M)
Other current assets
($43.1M)
$15.2M
($42.4M)
($16.7M)
Other long-term assets
($13.1M)
($6.8M)
$2.3M
($5.4M)
Accounts payable, other current liabilities, and taxes payable
$6.3M
($35.4M)
($43.7M)
$45.1M
Wages and benefits payable
($18.6M)
$3.8M
$44.7M
($21.7M)
Unearned revenue
$28.6M
$29.3M
$28.3M
$18.5M
Warranty
($4.4M)
$210.0K
($3.8M)
($5.5M)
Restructuring
($22.4M)
($31.0M)
$29.9M
($41.0M)
Other operating, net
($52.7M)
($22.0M)
$12.4M
($4.9M)
Net cash provided by operating activities
$406.0M
$238.2M
$125.0M
$24.5M
Net proceeds (payments) related to the sale of business
$278.0K
$405.0K
($772.0K)
—
Acquisitions of property, plant, and equipment
($22.9M)
($30.6M)
($26.9M)
($19.7M)
Business acquisitions, net of cash and cash equivalents acquired
($325.0M)
($34.1M)
$0
$23.0K
Other investing, net
($2.0M)
$850.0K
$4.3M
$4.3M
Net cash used in investing activities
($349.7M)
($63.4M)
($23.3M)
$40.5M
Proceeds from borrowings
$0
$805.0M
$0
$0
Issuance of common stock
$7.3M
$8.3M
$3.7M
$3.5M
Payments on call spread for convertible offering
$0
($109.0M)
$0
$0
Repurchase of common stock
($100.0M)
($100.0M)
$0
$17.0M
Prepaid debt fees
($2.2M)
($21.9M)
($2.5M)
($697.0K)
Other financing, net
($2.6M)
($2.9M)
($4.7M)
($4.5M)
Net cash provided by (used in) financing activities
($97.5M)
$579.6M
($3.5M)
($18.7M)
Effect of foreign exchange rate changes on cash and cash equivalents
$10.3M
($5.1M)
$1.9M
($6.9M)
(Decrease) increase in cash and cash equivalents
($30.8M)
$749.2M
$100.0M
$39.4M
Cash and cash equivalents at beginning of period
$1.1B
$302.0M
$202.0M
$162.6M
Cash and cash equivalents at end of period
$1.0B
$1.1B
$302.0M
$202.0M
Income taxes, net
$56.3M
$80.2M
$54.5M
$11.9M
Interest
$13.2M
$1.3M
$1.8M
$1.6M
Deferred tax effect of call spread offerings
$0
$26.7M
$0
$0
Itron, Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$107.1M
$53.6M
$200.3M
$134.1M
Depreciation and amortization of intangible assets
$37.2M
$18.5M
$36.2M
$24.2M
Non-cash operating lease expense
$6.6M
$3.3M
$8.9M
$5.8M
Stock-based compensation
$32.3M
$20.1M
$47.8M
$33.4M
Amortization of prepaid debt fees
$3.8M
$1.8M
$5.4M
$3.6M
Deferred taxes, net
($18.7M)
$3.5M
$48.9M
($9.7M)
Loss on sale of business
$0
$0
$79.0K
$79.0K
Restructuring, non-cash
$462.0K
$462.0K
($25.0K)
($25.0K)
Other adjustments, net
($3.5M)
$175.0K
($531.0K)
($354.0K)
Accounts receivable
$23.3M
($17.6M)
($12.1M)
$18.8M
Inventories
($18.0M)
$2.4M
$19.8M
($7.4M)
Other current assets
($5.3M)
$11.7M
($40.3M)
$6.4M
Other long-term assets
$3.1M
($2.4M)
$6.9M
$3.5M
Accounts payable, other current liabilities, and taxes payable
($9.3M)
$8.3M
($6.0M)
($31.9M)
Wages and benefits payable
($28.1M)
($33.5M)
($30.8M)
($34.9M)
Unearned revenue
$50.9M
$18.0M
$34.3M
$46.4M
Warranty
($243.0K)
$2.1M
($2.4M)
($1.9M)
Restructuring
($6.9M)
($4.2M)
($16.4M)
($10.3M)
Other operating, net
($1.0M)
($741.0K)
($13.4M)
($11.2M)
Net cash provided by operating activities
$173.6M
$85.5M
$286.6M
$168.8M
Acquisitions of property, plant, and equipment
($13.1M)
($6.5M)
($15.1M)
($10.7M)
Business acquisitions, net of cash and cash equivalents acquired
($515.1M)
($515.1M)
$0
$0
Other investing, net
$3.1M
$10.0K
($2.0M)
$5.0K
Net cash used in investing activities
($525.1M)
($521.6M)
($16.8M)
($10.7M)
Proceeds from borrowings
$805.0M
$805.0M
$0
$0
Repayments of Long-Term Debt
($460.0M)
($460.0M)
—
—
Issuance of common stock
$2.0M
$677.0K
$6.3M
$5.4M
Payments on call spread for convertible offering
($92.8M)
($92.8M)
$0
$0
Repurchase of common stock
($152.2M)
($100.0M)
$0
$0
Prepaid debt fees
($21.5M)
($21.2M)
($2.2M)
($178.0K)
Other financing, net
($514.0K)
($274.0K)
($2.3M)
($507.0K)
Net cash provided by financing activities
$79.9M
$131.4M
$1.8M
$4.8M
Effect of foreign exchange rate changes on cash and cash equivalents