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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Total revenues $ 2,367,194 $ 2,440,837 $ 2,173,633
Total cost of revenues 1,475,076 1,601,520 1,459,725
Gross profit 892,118 839,317 713,908
Operating expenses      
Sales, general and administrative 352,965 339,069 312,779
Research and development 207,041 215,034 208,688
Amortization of intangible assets 18,034 17,828 18,918
Restructuring 931 2,679 43,989
Loss on sale of business 79 597 667
Total operating expenses 579,050 575,207 585,041
Operating income 313,068 264,110 128,867
Other income (expense)      
Interest income 48,376 34,577 9,314
Interest expense (22,451) (15,379) (8,349)
Other income (expense), net 3,274 1,223 (2,446)
Total other income (expense) 29,199 20,421 (1,481)
Total income before income taxes 342,267 284,531 127,386
Income tax provision (38,932) (43,407) (29,068)
Net income 303,335 241,124 98,318
Net income attributable to noncontrolling interests 2,280 2,019 1,395
Net income attributable to Itron, Inc. $ 301,055 $ 239,105 $ 96,923
Net income (loss) per common share - Basic (in dollars per share) $ 6.62 $ 5.27 $ 2.13
Net income (loss) per common share - Diluted (in dollars per share) $ 6.50 $ 5.18 $ 2.11
Weighted average common shares outstanding - Basic (in shares) 45,492 45,368 45,421
Weighted average common shares outstanding - Diluted (in shares) 46,323 46,187 45,836
Product revenues      
Total revenues $ 2,008,976 $ 2,131,379 $ 1,863,489
Total cost of revenues 1,292,329 1,429,942 1,292,170
Service revenues      
Total revenues 358,218 309,458 310,144
Total cost of revenues $ 182,747 $ 171,578 $ 167,555