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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Revenues $ 586,982 $ 607,151
Cost of revenues    
Total cost of revenues 350,663 389,932
Gross profit 236,319 217,219
Operating expenses    
Sales, general and administrative 105,357 86,911
Research and development 54,999 50,090
Amortization of intangible assets 8,172 4,479
Restructuring 214 (553)
Loss on sale of business 0 79
Total operating expenses 168,742 141,006
Operating income 67,577 76,213
Other income (expense)    
Interest income 5,660 11,710
Interest expense (5,809) (5,593)
Other income (expense), net (233) (51)
Total other income (expense) (382) 6,066
Consolidated income before income taxes 67,195 82,279
Income tax provision (13,609) (16,929)
Net income 53,586 65,350
Net income (loss) attributable to noncontrolling interests 127 (124)
Net income attributable to Itron, Inc. $ 53,459 $ 65,474
Net income per common share - Basic $ 1.20 $ 1.44
Net income per common share - Diluted $ 1.18 $ 1.42
Weighted average common shares outstanding - Basic 44,734 45,338
Weighted average common shares outstanding - Diluted 45,470 46,172
Product revenues    
Revenues    
Revenues $ 477,801 $ 523,141
Cost of revenues    
Total cost of revenues 300,209 346,442
Service revenues    
Revenues    
Revenues 109,181 84,010
Cost of revenues    
Total cost of revenues $ 50,454 $ 43,490