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Iteris, Inc. (NASDAQ: ITI) is a pioneering company that operates at the forefront of applied informatics, specializing in two critical sectors: transportation and agriculture. With a mission to transform vast amounts of data into actionable insights, Iteris leverages advanced analytics to tackle complex challenges in these industries, enhancing safety, efficiency, and sustainability.
Core Business Areas
Iteris focuses on two primary domains:
- Transportation: Iteris provides intelligent solutions that improve road safety, optimize traffic flow, and support the development of smart cities. By collecting and analyzing data from traffic patterns, weather conditions, and road infrastructure, the company enables municipalities and government agencies to make data-driven decisions that enhance mobility and reduce congestion.
- Agriculture: In the agricultural sector, Iteris delivers precision farming solutions that empower farmers, agronomists, and crop science companies to maximize productivity while promoting sustainability. By analyzing data on soil composition, weather patterns, and water usage, Iteris helps stakeholders optimize resource allocation and improve crop yields.
Technology and Innovation
At the heart of Iteris’ operations is its ability to aggregate and analyze diverse datasets, including traffic, weather, soil, and crop information. The company employs advanced technologies such as machine learning, predictive analytics, and IoT (Internet of Things) to deliver precise, actionable insights. This technological expertise positions Iteris as a key player in the growing fields of intelligent transportation systems (ITS) and precision agriculture.
Market Position and Differentiation
Iteris stands out in its market due to its dual-industry focus and its ability to integrate diverse data sources into cohesive, impactful solutions. In the transportation sector, Iteris contributes to the development of safer and more efficient travel infrastructure, aligning with global trends toward urbanization and smart city initiatives. In agriculture, the company addresses the increasing demand for sustainable farming practices by providing tools that enhance productivity while conserving resources.
Customer Base
Iteris serves a wide range of clients, including municipalities, government agencies, crop science companies, farmers, and agronomists. These stakeholders rely on Iteris’ solutions to make informed decisions that improve operational efficiency, reduce risks, and achieve long-term goals.
Challenges and Opportunities
While Iteris operates in highly competitive and rapidly evolving markets, its deep expertise in applied informatics and its ability to deliver tailored solutions provide a significant competitive advantage. The company’s focus on innovation and its commitment to addressing critical industry challenges position it as a trusted partner for clients seeking to navigate the complexities of modern transportation and agriculture.
Conclusion
Iteris, Inc. is a leader in applied informatics, leveraging cutting-edge technology to address pressing challenges in transportation and agriculture. By turning big data into actionable insights, the company plays a crucial role in shaping safer, more efficient, and more sustainable systems in these vital industries.
Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, will present at the 24th Annual Oppenheimer & Co Technology, Internet & Communications Conference on August 11, 2021. The presentation, scheduled for 3:45 p.m. ET (12:45 p.m. PT), will be led by President and CEO Joe Bergera and CFO Douglas Groves. Investors can arrange virtual meetings with Iteris management throughout the day. For more details or to schedule meetings, contact Oppenheimer representatives or MKR Investor Relations at ITI@mkr-group.com.
Iteris, Inc. (NASDAQ: ITI) has been selected by the City of Lake Forest, California for a multi-year smart mobility program aimed at reducing congestion and enhancing safety. This significant contract involves the delivery of Congestion Management for Arterials services, leveraging Iteris' cloud-enabled managed services and ClearGuide™ software solutions. The project aims to analyze traffic trends, identify infrastructure improvements, and optimize signal timing across the city.
Iteris, Inc. (NASDAQ: ITI) will host a conference call on August 5, 2021, at 4:30 p.m. ET, to discuss its fiscal Q1 results ended June 30, 2021. The financial results will precede the call in a press release. The event will be led by CEO Joe Bergera and CFO Douglas Groves, followed by a Q&A session. Interested parties can join via a toll-free number or through a live webcast on the company's investor relations page. A replay will be available after the call until August 12, 2021.
Iteris (NASDAQ: ITI) announced two contracts valued at $1.5 million with the Los Angeles County Metropolitan Transportation Authority for smart mobility planning services. These contracts will focus on converting high-occupancy vehicle lanes to high-occupancy toll lanes on major freeways, specifically the I-405 and I-10. The initiative aims to alleviate congestion, enhance traffic efficiency, and serve approximately 600,000 daily users across over 25 miles of freeway. The project highlights the growing demand for Iteris’ expertise in smart mobility solutions.
Iteris, Inc (NASDAQ: ITI) has secured two additional contracts from the Utah Department of Transportation (UDOT) worth over $2.7 million, reflecting the growing demand for its smart mobility solutions. These contracts will enhance safety compliance for commercial motor carriers and improve transportation analytics through Iteris' SaaS offerings, including CVIEWplus™ and ClearGuide™. The collaboration also extends UDOT's access to real-time data for traffic monitoring, emphasizing Iteris' commitment to advancing transportation infrastructure in the western U.S.
Iteris, Inc. (NASDAQ: ITI) reported strong fiscal fourth quarter and full year 2021 results. Total revenue reached a record $31.7 million, a 10% increase year over year, contributing to an overall annual revenue of $117.1 million, up 9%. The company achieved a net income of $0.5 million for the year, an improvement from a loss of $1.8 million the previous year. Despite a GAAP net loss of $0.4 million for Q4, the ending backlog grew to $78 million, up 26%. For fiscal 2022, management projects revenue between $132 million and $142 million, indicating potential growth of up to 22%.
Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, announced participation in the Stifel 2021 Virtual Cross Sector Insight Investor Conference on June 8, 2021. President and CEO Joe Bergera and CFO Douglas Groves will conduct virtual meetings with investors throughout the event. For further details or to arrange a meeting with Iteris management, stakeholders are encouraged to reach out to their Stifel representative or contact MKR Investor Relations at ITI@mkr-group.com.
Iteris, Inc. (NASDAQ: ITI), a leader in smart mobility infrastructure management, will participate in the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on June 2, 2021. President and CEO Joe Bergera and CFO Douglas Groves will conduct virtual meetings with investors throughout the day. Interested parties can arrange meetings through Craig-Hallum or Iteris' investor relations firm, MKR Investor Relations, via ITI@mkr-group.com. For more details on the company’s initiatives, visit www.iteris.com.
Iteris, Inc. (NASDAQ: ITI) will hold a conference call on June 1, 2021, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ending March 31, 2021. This follow-up call will be hosted by Joe Bergera, president and CEO, and Douglas Groves, CFO. Investors can dial in 5-10 minutes early using the toll-free number +1 800-367-2403. A replay will be available post-call until June 8, 2021. Iteris specializes in smart mobility infrastructure management, utilizing advanced technologies for sustainable mobility solutions.
Iteris, Inc. (NASDAQ: ITI) has secured a three-year contract valued at up to $1.1 million from the City of San Antonio for traffic signal optimization. This agreement underscores the company's growing footprint in Texas, which is a strategic market for Iteris, as evidenced by seven major contracts awarded in recent years. The project involves enhancing traffic signal timing at over 1,400 intersections in San Antonio, demonstrating Iteris' expertise in smart mobility infrastructure management.
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