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Iteris, Inc. - ITI STOCK NEWS

Welcome to our dedicated page for Iteris news (Ticker: ITI), a resource for investors and traders seeking the latest updates and insights on Iteris stock.

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.

News

Iteris to Enhance 511 Road Management System for State of South Dakota

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Iteris, Inc. (NASDAQ: ITI) secures a one-year contract from the South Dakota Department of Transportation to enhance the 511 traveler information system. The contract includes new features such as county and tribe road closure updates and automation of state highway network map updates. Iteris will also provide operation and maintenance services for the system, website, mobile apps, and interactive voice response number.
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Iteris Awarded $3 Million Contract by Texas DOT for Smart Mobility, Intelligent Transportation and Traffic Engineering Services

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Iteris, Inc. (NASDAQ: ITI) secures a $3 million contract with the Texas Department of Transportation San Antonio District for smart mobility and traffic engineering services, marking their third contract with a total value of $8 million in the last six years. The agreement includes developing construction plans and deploying various smart infrastructure solutions to reduce congestion, enhance safety, and promote sustainability in the twelve-county area.
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Iteris Awarded Over $1 Million SaaS Contract by Ventura County Transportation Commission

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Iteris, Inc. (NASDAQ: ITI) secures a $1 million contract from Ventura County Transportation Commission for its ClearGuide solution to enhance mobility analytics and traffic volume data in the region, utilizing AI-powered technology.
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Iteris Chosen by Virginia Department of Transportation to Create Traffic Operations Strategic Plan

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Iteris, Inc. (NASDAQ: ITI) secures a new contract with the Virginia Department of Transportation for a smart mobility initiative. The contract involves developing a Traffic Operations Strategic Plan (TOSP) to enhance safety, accessibility, and efficiency statewide.
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Iteris Awarded Contracts Totaling Over $2 Million from the Federal Highway Administration

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Iteris, Inc. (ITI) secures $2 million in contracts from the Federal Highway Administration for training programs aimed at improving transportation safety and mobility nationwide. The five-year deal highlights Iteris' expertise in developing and delivering educational courses for transportation professionals over two decades.
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Iteris Chosen to Support Intelligent Transportation Systems Project in Los Angeles County

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Iteris, Inc. (NASDAQ: ITI) secures a $900,000 contract with the City of Downey in Los Angeles County, California for a regional smart mobility project. The project aims to improve traffic flow for bus transportation by installing technology to enable buses to request priority at signalized intersections. This initiative is part of Iteris' Intelligent Transportation Systems (ITS) Build initiative, offering specialized ITS installation services for traffic sensors and other hardware, with benefits including streamlined procurement, accelerated implementation, and cost savings.
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Iteris Reports Record Nine-Month Revenue of $129.2 Million, 14% Higher Than Prior Year Period, and GAAP Net Income of $3.0 Million, a $17.3 Million Improvement from the Prior Year Period

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Iteris, Inc. (ITI) reported record revenue of $129.2 million for the fiscal year 2024, representing a 14% increase year over year. The company also achieved a 4% year over year increase in revenue for the fiscal 2024 third quarter, reaching $42.1 million. Gross margins improved significantly, reaching 37.6% for the fiscal year, and 36.9% for the third quarter, up 1,250 basis points and 780 basis points year over year, respectively. Adjusted EBITDA for the nine-month period was $10.0 million, a substantial $18.1 million improvement from the prior year. The company's cash and cash equivalents stood at $21.2 million as of December 31, 2023, reflecting positive net cashflow of $0.9 million. Iteris also announced a new partnership with Arity, a mobility data and analytics company. The company is tightening its full-year total revenue guidance to a range of $171.0 million to $173.0 million, representing organic growth of 10% year over year at the mid-point. Despite the positive financial performance, temporary customer delays due to current budget uncertainty and agency labor constraints are impacting the full-year outlook.
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Iteris Expands Partnership with Arity to Deliver Enhanced Traffic Data Solutions

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Iteris, Inc. (NASDAQ: ITI) has announced a new agreement with Arity, a mobility data and analytics company, to integrate a broader suite of traffic data solutions from Arity into Iteris’ ClearMobility® Platform. Arity collects nearly four million trips every hour from its 40 million users, or 15% of US licensed drivers, generating extensive near-real-time trip data. This partnership aims to improve traffic flow, intersection signal timing, and urban bottlenecks, ultimately making transportation smarter, safer, and more efficient.
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Iteris Sets Fiscal Third Quarter 2024 Conference Call for Thursday, February 8, 2024 at 4:30 p.m. ET

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Iteris, Inc. (NASDAQ: ITI) will conduct a conference call to discuss its financial results for the fiscal third quarter ended December 31, 2023. The call will be hosted by president and CEO Joe Bergera and CFO Kerry Shiba. It will include a live Q&A session with sell-side analysts and pre-submitted questions. The call will take place on Thursday, February 8th at 4:30 p.m. Eastern time (1:30 p.m. Pacific time).
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Iteris Expands Presence in Illinois with Two Contracts for Traffic Signal Coordination and Timing Initiatives

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Iteris, Inc. (NASDAQ: ITI) has been awarded contracts for traffic engineering, signal coordination, and signal timing services for two Illinois-based transportation agencies, with a combined value of approximately $6.0M. The contracts aim to improve safety, mobility, and sustainability by reducing stops and traffic congestion, minimizing delays, and reducing emissions from vehicles. These contracts further solidify Iteris' presence in the Midwest region and enhance its large presence in the Chicago suburban area.
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FAQ

What is the current stock price of Iteris (ITI)?

The current stock price of Iteris (ITI) is $7.195 as of November 1, 2024.

What is the market cap of Iteris (ITI)?

The market cap of Iteris (ITI) is approximately 309.5M.

What does Iteris, Inc. specialize in?

Iteris specializes in applied informatics for transportation and agriculture, turning data into actionable insights.

Who uses Iteris' solutions?

Municipalities, government agencies, crop science companies, farmers, and agronomists utilize Iteris' solutions globally.

What are some of Iteris' key software solutions?

Key software solutions include ClearGuide, ClearRoute, Commercial Vehicle Operations, BlueArgus, and TrafficCarma.

How does Iteris contribute to transportation safety?

Iteris enhances transportation safety by providing data-driven insights that optimize mobility infrastructure and traffic management.

What role does Iteris play in agriculture?

Iteris helps make farmlands more sustainable, healthy, and productive by providing precise agricultural informatics.

What recent achievements has Iteris made?

Iteris has formed strategic partnerships and launched innovative projects to further enhance its offerings in transportation and agriculture.

How does Iteris support public transportation agencies?

Iteris provides cloud-enabled solutions that help public transportation agencies monitor, visualize, and optimize mobility infrastructure.

What is the financial condition of Iteris?

Iteris continues to show solid financial performance, reflecting its strong business model and high-value solutions.

Where can I find more information about Iteris?

More information about Iteris can be found on their website at www.iteris.com.

What is the ticker symbol for Iteris, Inc.?

The ticker symbol for Iteris, Inc. is ITI.

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Iteris, Inc.

Nasdaq:ITI

ITI Rankings

#3504 Ranked by Market Cap
N/A Ranked by Dividends

ITI Stock Data

309.47M
42.07M
2.26%
53.91%
1.51%
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