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.
Overview
Iteris, Inc. (ITI) leverages the power of big data and advanced analytics to transform transportation and agriculture. With a specialization in applied informatics, Iteris collects, aggregates, and analyzes data from various sources such as traffic patterns, road conditions, weather, water, soil, and crop health. These capabilities enable municipalities, government entities, crop science companies, and agronomists to make informed decisions that enhance road safety and optimize farm productivity. The company employs cutting-edge technology to process vast amounts of information, turning raw data into breakthrough solutions that address everyday challenges in transportation and agriculture.
Business Model and Operations
At its core, Iteris operates on a model that integrates data acquisition with sophisticated analytical tools. By providing comprehensive datasets and actionable insights, the company helps clients reduce risk, improve operational efficiency, and create safer travel and sustainable farming environments. Revenue is generated through tailored analytic services, including data subscriptions and licensing solutions that allow customers to access proprietary information and industry-specific intelligence. The company’s robust analytical frameworks and systematic approach to informatics are key drivers of its market significance.
Technological Excellence and Industry Position
Iteris stands out in the competitive landscape by utilizing technologies such as machine learning, sensor integration, and predictive analytics. These industry-specific tools facilitate the transformation of complex data into clear, valuable insights for decision-makers. The company's detailed and precise classification of traffic and environmental data underscores its authority in the big data domain. Iteris's methodical use of data not only promotes safer transportation systems but also supports the development of smarter, more sustainable agricultural practices.
Core Value Proposition
The primary value of Iteris lies in its ability to bridge the gap between raw data and intelligent decision-making. Customers benefit from a comprehensive analytics platform that contextualizes information into meaningful guidance for improving public safety and optimizing resource management. By maintaining a strong focus on applied informatics, Iteris ensures that its solutions are both relevant and impactful, addressing the immediate needs of its diverse user base. The company’s interdisciplinary approach, combining data science with practical industry applications, reinforces its position as an indispensable resource in transportation and agriculture.
Competitive Advantage and Market Significance
- Specialized Data Analytics: Iteris uses advanced analytics tailored to address specific challenges within transportation and agriculture, ensuring clients receive targeted insights.
- Integrated Systems: The company’s technology platform seamlessly integrates multiple data streams, from environmental factors to traffic metrics, providing a holistic view of critical operational parameters.
- Industry Expertise: With years of experience in the applied informatics space, Iteris demonstrates deep knowledge of both the technical and practical aspects of data-driven decision-making.
Understanding the Impact
The solutions provided by Iteris empower a range of stakeholders—from city planners striving for safer road designs to farmers seeking to increase crop efficiency. The ability to turn complex variable data into actionable insights helps reduce operational costs and mitigate risks associated with unpredictable environmental conditions. This balance of technical innovation and practical application illustrates why Iteris remains a pivotal player in the industries it serves.
Iteris, Inc. (NASDAQ: ITI) has secured a two-year contract from the Ohio Department of Transportation for statewide traffic signal timing and operation. This project will encompass 53 traffic signal intersections in Northeast Ohio, with potential expansions statewide. The initiative focuses on enhancing safety and mobility while reducing congestion and CO2 emissions by implementing innovative traffic signal retiming techniques. This contract reinforces Iteris's position in the smart mobility infrastructure market and supports environmental sustainability goals. The company aims to improve the efficiency of passenger and heavy vehicle transit in the region, showcasing its continued growth in the Midwest's mobility sector.
Iteris, Inc. has secured a $1.3 million contract with the Utah Department of Transportation (UDOT) for its ClearData data-as-a-service (DaaS) solution. This contract marks the first statewide procurement of ClearData, enhancing UDOT's ability to access real-time and historical traffic data. The ClearMobility platform, which integrates ClearData and ClearGuide, will support UDOT’s traffic management operations and improve collaboration with other agencies. The contract aligns with UDOT's goals of enhancing safety, mobility, and efficient operations. Iteris aims to offer improved service delivery through its advanced data analytics capabilities.
Iteris (NASDAQ: ITI) has secured a
Iteris, Inc. (NASDAQ: ITI) has secured a
The project will leverage Iteris' ClearMobility™ Platform to optimize traffic management and infrastructure. This marks a significant demand for the company's services in a crucial market, emphasizing their commitment to enhancing transportation safety and efficiency in California.
Iteris has announced a multi-year agreement with HERE Technologies to enhance its ClearMobility® Platform. The collaboration aims to provide public agencies with improved traffic solutions using HERE's high-quality maps and real-time traffic data. This partnership builds on a decade-long relationship and will enable more than 50 agencies to better manage safety and mobility. Key features include contextual services from HERE Traffic Products, enhanced insights for transportation planners, and support for roadway safety initiatives. The agreement focuses on integrating advanced location services into the ClearMobility Platform for data-driven decision-making.
Iteris, Inc. (NASDAQ: ITI) has secured a multi-year contract worth
Global Traffic Technologies (GTT) has successfully demonstrated its Opticom™ Transit Signal Priority (TSP) in a Cellular Vehicle-to-Everything (C-V2X) environment, partnering with Iteris, Inc. (NASDAQ: ITI). This solution enhances communication between transit vehicles and traffic signals, significantly improving operational performance. The Opticom TSP will be integrated with the Iteris ClearMobility® Platform, allowing access to real-time TSP grant status and signal phase extension. GTT plans to make the Opticom V2X Application available on partners' hardware or its V2X hub later in 2023, promoting widespread adoption and improving the transit experience for passengers globally.
Iteris, Inc. (NASDAQ: ITI) reported strong fiscal Q3 2023 results, with total revenue rising 27.1% year-over-year to $40.7 million. Product revenue surged 44.0% to $22.9 million while service revenue increased 10.5% to $17.8 million. Despite a GAAP net loss of $2.0 million, an improvement from the prior year's loss, the company achieved significant recovery in product gross margins, driven by supply chain management initiatives. The ending backlog rose 22% to a record $112.2 million. Looking ahead, Q4 revenue is projected between $39.4 million and $41.4 million, indicating 18.0% growth at midpoint, with full-year revenue expected to be $152 million to $155 million.
Iteris, Inc. (NASDAQ: ITI) has announced a conference call on February 2, 2023, at 4:30 p.m. Eastern time to discuss its financial results for the fiscal third quarter ending December 31, 2022. The call will feature CEO Joe Bergera and CFO Douglas Groves, followed by a Q&A session. Interested parties can join by dialing +1 888-506-0062 (toll-free) or +1 973-528-0011 (international). The results will be released prior to the call, and a replay will be available for one week after the event. For more information, visit Iteris' investor relations page.
Iteris has secured a
This project will add one express lane in each direction over 11 miles, including new auxiliary lanes and enhanced toll infrastructure. Iteris’ role focuses on advanced technologies, including CCTVs and fiber optics, supporting critical improvements in transportation efficiency. This contract highlights the ongoing demand for Iteris' consulting services in a strategic market.
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