Iteris, Inc. - ITI STOCK NEWS

Iteris, Inc. (NASDAQ: ITI) announced a three-year SaaS contract with the Florida Department of Transportation (FDOT) District 5 to implement its ClearGuide solution. This partnership aims to enhance mobility and safety across nine counties in Central Florida, which encompasses over four million residents and 2,100 signalized intersections. The ClearGuide solution provides features such as automated signal performance measures and dynamic traffic analysis tools. This initiative aligns with Iteris’ ClearMobility Platform, designed to optimize mobility infrastructure using advanced technologies.

Iteris, Inc (NASDAQ: ITI), a leader in smart mobility infrastructure management, announced its participation in the JMP Securities Technology Conference on March 1. President and CEO Joe Bergera, along with CFO Douglas Groves, will present at 11:30 a.m. ET and engage in virtual one-on-one meetings with investors throughout the day. The presentation will be available via the investor relations section of the company’s website, where a replay will also be accessible.

Iteris (NASDAQ: ITI) has secured $737,000 in service orders from the San Bernardino County Transportation Authority under a $2.49 million contract for traffic signal synchronization across 16 municipalities. This extension aims to enhance traffic flow and safety over a 250-square-mile network. The project leverages Iteris’ ClearGuide™ software for evaluations and addresses maintenance for 1,250 signalized intersections. The initiative reflects increased demand for Iteris’ managed services, anticipated to improve travel times and reduce carbon emissions.

Iteris, Inc. (NASDAQ: ITI) reported financial results for Q3 2021, showing a 5% year-over-year revenue increase to $28.2 million. The total ending backlog rose to $76.9 million, up 5% sequentially. The company faced a GAAP net loss of $0.3 million or $(0.01) per share, an improvement from a loss of $(0.03) per share a year ago. Adjusted EBITDA improved to $1.5 million, representing 5.2% of revenue. Despite COVID-related challenges, management anticipates continued growth through innovations and acquisitions.

Iteris (NASDAQ: ITI) has launched its new ClearMobility™ Cloud, an open-architecture cloud framework designed for smart mobility infrastructure management. This platform enhances data management, API integration, and analytics capabilities for mobility data, utilizing information from millions of connected vehicles and Iteris' smart sensors. The initial release features a unified portal for easier navigation of Iteris' software applications, including real-time travel data updates. The ClearMobility Cloud aims to improve the safety and efficiency of transportation systems while supporting commercial entities in understanding mobility.

Iteris, Inc. (NASDAQ: ITI) will hold a conference call on February 2, 2021, at 4:30 p.m. ET, to discuss its fiscal Q3 financial results for the period ending December 31, 2020. The results will be shared via a press release before the call. Joe Bergera (President and CEO) and Douglas Groves (CFO) will facilitate the session, which includes a Q&A segment. Interested parties can access the call through toll-free and international numbers. A replay will be available post-call until February 9, 2021.

Iteris, Inc. (NASDAQ: ITI) announced its participation in the 23rd Annual Needham Virtual Growth Conference on January 14. The presentation will be led by President and CEO Joe Bergera and CFO Douglas Groves at 4:15 p.m. ET. They will also hold one-on-one meetings with investors throughout the day. The presentation will be available for live streaming and later replay on their investor relations page. Iteris focuses on smart mobility infrastructure management, utilizing advanced technology for safe and efficient travel.

Iteris (NASDAQ: ITI) announced the granting of inducement awards to 17 new non-executive employees acquired through the TrafficCast International, Inc. acquisition. The awards, effective January 1, 2021, include options to purchase 95,000 shares of common stock and 68,156 restricted stock units. The options have a 10-year term with an exercise price of $5.65, vesting over four years. Restricted stock units vest in two tranches over three years. The board approved these awards in compliance with Nasdaq regulations.

Iteris, Inc (NASDAQ: ITI) announced its second task order from the Federal Highway Administration (FHWA), worth $4.07 million, under an indefinite delivery/indefinite quantity (IDIQ) contract to support the Intelligent Transportation Systems (ITS) architecture program. This contract has a ceiling of $19.5 million and a total value of $9.8 million. Iteris will enhance the Architecture Reference for Cooperative and Intelligent Transportation content to aid in interoperability and connected vehicle developments as part of a five-year initiative.