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Iteris, Inc. (NASDAQ: ITI) is a global front-runner in applied informatics, particularly within the transportation and agriculture sectors. The company specializes in transforming vast amounts of data into actionable insights that drive significant advancements. By collecting, aggregating, and analyzing information on traffic, roads, weather, water, soil, and crops, Iteris provides precise informatics that enhance safety in transportation and promote smarter farming practices.
Municipalities, government agencies, crop science companies, farmers, and agronomists worldwide rely on Iteris' solutions to make roads safer, travel more efficient, and farmlands more sustainable, healthy, and productive. The company's extensive portfolio includes smart mobility infrastructure management solutions such as traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, and advanced sensing devices.
Iteris offers cloud-enabled, end-to-end solutions that empower public transportation agencies, municipalities, commercial entities, and other transportation infrastructure providers to monitor, visualize, and optimize mobility infrastructure. This leads to safer, more efficient, and sustainable transportation for all. Among its software solutions are ClearGuide, ClearRoute, Commercial Vehicle Operations, BlueArgus, and TrafficCarma.
Recently, Iteris has made significant strides in enhancing its offerings and expanding its market presence. The company has formed strategic partnerships and launched innovative projects that leverage cutting-edge technology to address emerging needs in both transportation and agriculture sectors. Financially, Iteris continues to show solid performance, reflecting its robust business model and commitment to delivering high-value solutions.
For more information, visit www.iteris.com.
Iteris, Inc. has been awarded a three-year contract by the Illinois Department of Transportation (IDOT) for traffic signal synchronization projects across four districts in Central and Southern Illinois. This initiative aims to enhance traffic flow, improve safety, and reduce CO2 emissions by optimizing traffic signal operations. The project addresses operational issues and responds to user complaints while supporting IDOT's state goals for reducing travel time and greenhouse gas emissions. This contract demonstrates ongoing demand for Iteris' specialized consulting services in a key market.
Iteris has launched ClearAsset, a smart mobility infrastructure asset management solution designed for transportation agencies. This SaaS solution enhances the management of intelligent transportation systems (ITS) by allowing agencies to track inventory, conduct lifecycle analysis, and monitor performance. ClearAsset aims to improve device uptime and overall operations for traffic signals and highway ITS. The service can be utilized directly by agencies or through Iteris’ managed service, offering 24/7 support and integration with other smart mobility solutions.
Iteris, Inc. (NASDAQ: ITI) reports a 14% year-over-year revenue increase in Q3 fiscal 2022, totaling $32.0 million. Service revenue surged 37% to $16.1 million, aided by the ClearMobility™ Platform. However, product revenue dipped 3% to $15.9 million due to supply chain delays. Total net bookings reached a record $40.9 million, a 99% increase, leading to a backlog of $92.3 million, up 20%. Despite the positive revenue growth, the company faced a GAAP net loss of $2.4 million, or $(0.06) per share. Full-year revenue guidance has been revised to $134-$136 million, projecting 14%-16% growth.
Iteris (NASDAQ: ITI) will host a conference call on February 3, 2022, at 4:30 p.m. Eastern time to discuss its financial results for the fiscal third quarter ended December 31, 2021. The results will be announced prior to the call. President and CEO Joe Bergera and CFO Douglas Groves will lead the discussion, which includes a Q&A session with analysts. Interested participants can join via toll-free and international dial-in numbers, with a replay available until February 10, 2022.
Iteris has secured a
Iteris has been chosen by the Florida Department of Transportation (FDOT) for a four-year project to develop a connected vehicle data exchange platform. This initiative aims to improve real-time travel information dissemination to the public and various stakeholders while enhancing the state's readiness for connected and automated vehicle technologies. The project, among the first of its kind in the U.S., will facilitate the collection and analysis of data from multiple vehicle and infrastructure sources to optimize road safety and efficiency.
Iteris, Inc. (NASDAQ: ITI) announced their participation in the 24th Annual Needham Virtual Growth Conference on January 12. The presentation will be made by Joe Bergera, President and CEO, and Douglas Groves, CFO, at 2:00 p.m. ET. They will also engage in virtual one-on-one meetings with investors throughout the day. The presentation will be streamed live and available for replay on the company’s investor relations website. Interested parties can contact MKR Investor Relations for meeting scheduling.
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