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Itron ITRI Device Solutions — Revenue

Other segment segments

Networked Solutions
$339.24M-17.0%
Outcomes
$96.4M+13.3%
Resiliency Solutions
$15.82M

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Other financials

Income statement

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Revenue$562.9M-7.2%
Gross profit$230.6M+3.1%
Operating income$76.1M-0.5%
Net income$53.3M-22.0%
EPS (diluted)$1.19-19.0%

Balance sheet

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Cash & equivalents$745.2M-39.1%
Total debt$1.6B+25.8%
Total equity$1.6B+0.2%
Total assets$4.0B+10.2%

Cash flow

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Operating cash flow$88.1M-8.9%
CapEx$6.6M+9.8%
Free cash flow$81.5M-10.1%

Valuation

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Market cap$4.5B-21.4%
Enterprise value$5.36B-7.2%
P/E16.4×-4.8×
P/S-0.4×

Profitability

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Gross margin39.9%+4.5pp
Operating margin13.2%+1.4pp
Net margin11.9%+0.8pp
FCF margin16.7%+5.0pp

Returns & leverage

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Return on equity17%-2.0pp
Debt / equity+0.2×
Current ratio2.7×+0.7×

Where this comes from

Reported directly by Itron in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Itron’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 1:43 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000780571-26-000178
In thousandsDevice SolutionsNetworked SolutionsOutcomesResiliency SolutionsTotal
Product revenues$110,940$309,201$32,883$438$453,462
Service revenues50530,03763,51615,382109,440
Total revenues111,445339,23896,39915,820562,902
Adjusted cost of revenues (1)72,686194,08459,0193,903
Adjusted sales, general and administrative3,0267,1854,5672,728
Adjusted research and development4,21225,90812,2714,813
Adjusted segment operating income31,521112,06120,5424,376168,500
Reconciliation of adjusted segment operating income

Item 1: Financial Statements (Unaudited)

FAQ

What is Itron's device solutions — revenue?
Itron (ITRI) reported device solutions — revenue of $111.45M in Q2 2026.
How has Itron's device solutions — revenue changed year-over-year?
Itron's device solutions — revenue decreased by 1.2% year-over-year, from $112.76M to $111.45M.
What is the long-term trend for Itron's device solutions — revenue?
Over 4 years (2021 to 2025), Itron's device solutions — revenue has grown at a -8.8% compound annual growth rate (CAGR), from $645.1M to $447.08M.
What does device solutions — revenue mean?
The total gross income generated by the Device Solutions segment from the sale of hardware products used for measurement, control, or sensing. This is a primary indicator of market demand for the segment's non-networked hardware offerings.

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