Iteris, Inc. (ITI): history, ownership, mission, how it works & makes money

A Brief History of Iteris, Inc. (ITI)

Company Formation and Early Years

Iteris, Inc. was founded in 1987 and originally focused on the development of software solutions for the transportation industry. The company aimed to improve the efficiency of traffic management through data analytics and advanced sensing technologies.

Initial Public Offering

In 2004, Iteris went public and was listed on the NASDAQ under the ticker symbol ITI. The initial public offering (IPO) raised approximately $9.2 million.

Acquisition and Expansion

In 2011, Iteris acquired a company named ITIS Holdings, which expanded its capabilities in intelligent transportation systems (ITS). This acquisition allowed Iteris to bolster its data analytics services significantly.

Financial Performance

According to the latest financial reports, Iteris reported revenues of approximately $34.4 million for the fiscal year ending March 2023. The company had a net income of $1.2 million for the same period.

Market Segments

Iteris operates primarily in two sectors: Transportation Systems and Weather Information. The breakdown of revenue by segment for the fiscal year 2023 is as follows:

Recent Developments

In 2022, Iteris announced a strategic partnership with Siemens Mobility to enhance traffic management systems using advanced AI technologies. This partnership aims to develop innovative solutions that make urban transportation more efficient.

Stock Performance

As of October 2023, Iteris shares traded at approximately $3.50 per share, reflecting a market capitalization of around $130 million. Over the last year, the stock has experienced volatility, peaking at approximately $5.00 per share.

Future Outlook

Iteris has projected revenue growth for the fiscal year 2024, estimating revenues between $36 million and $38 million, supported by increased demand for ITS solutions amid urbanization trends.

A Who Owns Iteris, Inc. (ITI)

Company Overview

Iteris, Inc. (Ticker: ITI) focuses on smart transportation systems and agriculture, integrating advanced technologies to enhance the efficiency of traffic management and agricultural operations.

Ownership Structure

The ownership of Iteris, Inc. consists of institutional investors, individual shareholders, and company insiders. The following table provides a detailed view of the significant shareholders and their respective ownership percentages as of the latest filing.

Market Capitalization

The market capitalization of Iteris, Inc. is approximately $124.83 million as of October 2023.

Recent Financial Performance

In the quarter ending August 2023, Iteris reported the following financials:

Recent Stock Performance

As of October 2023, Iteris' stock is trading at approximately $1.81 per share, showing a fluctuation of approximately +5.25% over the previous month.

Institutional Investor Trends

Institutional ownership has seen a steady increase over the last fiscal year, reflecting growing interest in the company:

Major Upcoming Events

Iteris has several upcoming investor-related events which may influence ownership dynamics:

• Quarterly Earnings Call - November 2023
• Annual Shareholders Meeting - December 2023
• Investor Conference Participation - January 2024

Iteris, Inc. (ITI) Mission Statement

Company Overview

Iteris, Inc. is a leading provider of intelligent transportation systems and agricultural solutions, focusing on improving the safety and efficiency of roadways. The company leverages advanced data analytics, software, and hardware technologies to serve its customers.

Mission Statement

Iteris aims to optimize the flow of transportation with innovative solutions that enhance mobility, safety, and sustainability for communities. The mission emphasizes commitment to leveraging information and analytics to provide actionable insights for transportation and agriculture industries.

Core Values

• Innovation: Continuously seeking technological advancements to improve services.
• Integrity: Upholding ethical standards and transparency in operations.
• Collaboration: Fostering partnerships that enhance service delivery.
• Customer Focus: Prioritizing the needs and feedback of clients in service provision.

Financial Performance

As of the latest fiscal year ending March 31, 2023, Iteris reported a total revenue of $38.2 million, with a gross profit margin of approximately 42%. The company had a net loss of $5.7 million.

Business Segments

Iteris operates in three primary segments: Transportation Systems, Agricultural Solutions, and Software Development.

Strategic Objectives

• Enhance technology capabilities to drive innovation in transportation management.
• Expand market presence through strategic partnerships and acquisitions.
• Improve operational efficiency and reduce costs through data analytics.
• Focus on sustainable practices in transportation and agriculture industries.

Recent Initiatives

In 2023, Iteris launched several new projects, including:

• Deployment of AI-based traffic management solutions across major cities.
• Partnership with agricultural cooperatives to enhance precision farming techniques.
• Implementation of cloud-based software solutions for better data integration.

Conclusion of Mission Statement Elements

The mission statement and supporting elements of Iteris reflect a strong commitment to improving transportation systems and agricultural practices through innovative solutions. The strategic objectives and recent initiatives showcase the company’s focus on leveraging technology for enhanced services.

How Iteris, Inc. (ITI) Works

Company Overview

Iteris, Inc. (Ticker: ITI) is a technology company specializing in smart mobility infrastructure management and predictive analytics. As of the fiscal year 2022, Iteris reported total revenue of approximately $38.3 million.

Business Segments

Iteris operates through several key segments:

• Traffic Management: This includes solutions that enhance traffic flow and safety.
• Weather Analytics: Provides predictive weather insights for transportation safety.
• Smart Transportation: Focuses on intelligent transportation systems that integrate data and technology.

Financial Performance

In their latest quarterly report (Q3 2023), Iteris achieved a revenue of approximately $10 million, representing a year-over-year increase of 15%. The company’s gross profit margin was reported at 36.5%.

Key Technologies

Iteris employs advanced technologies to deliver its services, including:

• Smart Sensors: Used for traffic counting and monitoring.
• Data Analytics Platforms: These platforms analyze traffic and weather data to derive actionable insights.
• Cloud Solutions: Facilitate real-time data access and processing.

Market Position

As of 2022, Iteris holds a significant share in the smart transportation market, valued at approximately $55 billion globally. The company aims for growth in this sector driven by increasing investments in infrastructure technology.

Recent Contracts and Partnerships

In 2023, Iteris secured a contract worth $2 million with the State of California to enhance traffic management systems across major highways.

Employee Metrics

As of 2023, Iteris employs approximately 200 staff members, contributing to its capability to innovate and deliver solutions effectively.

Research and Development Investment

Iteris allocates around 12% of its revenue to research and development, focusing on enhancing predictive analytics and smart transportation solutions.

Future Outlook

The company anticipates a continued growth trajectory, forecasting annual revenue growth of 10%-15% through 2025, driven by increasing demand for smart mobility solutions.

How Iteris, Inc. (ITI) Makes Money

Revenue Streams

Iteris, Inc. generates revenue through various segments, primarily focusing on smart transportation systems and agricultural solutions. The company's revenue sources can be categorized as follows:

• Smart Transportation Systems
• Agricultural Solutions
• Consulting Services
• Software & Analytics

Smart Transportation Systems

The Smart Transportation Systems segment is the largest contributor to Iteris' revenue. For the fiscal year 2022, this segment generated approximately $25.2 million.

Key components include:

• Traffic management solutions
• Smart intersection technologies
• Traffic data collection and analytics

Agricultural Solutions

Iteris' Agricultural Solutions segment reported revenue of around $12.5 million in fiscal year 2022, driven by:

• Weather information services
• Crop management technologies
• Precision agriculture solutions

Consulting Services

Iteris also offers consulting services, bringing in roughly $7.3 million in revenue for the same period. This includes:

• Transportation planning and engineering
• Data analysis and reporting
• Policy analysis and strategic planning

Software & Analytics

The Software & Analytics segment generated about $3.9 million in fiscal year 2022. This segment encompasses:

• Software licensing
• Data processing and analytics
• Cloud-based solutions for transportation

Recent Financial Performance

For the fiscal year ending March 31, 2022, Iteris, Inc. reported total revenue of $48.9 million, which is an increase from $43.7 million in the previous year.

The company's gross profit margin stood at approximately 33% for this period.

Cost Structure

Iteris incurs various costs related to its operations, including:

• Cost of goods sold (COGS): $32.8 million
• Research & Development: $4.5 million
• Sales & Marketing: $6.2 million

Market Position and Growth

In 2021, Iteris achieved a market capitalization of around $115 million. The company’s stock price has fluctuated between $1.50 to $3.20 over the past year.

Industry growth projections indicate that the smart transportation systems market is expected to reach $17.4 billion by 2026, growing at a CAGR of 12.4%.

Contracts and Partnerships

Iteris has secured numerous contracts with governmental agencies and private entities. In 2022, the company announced a contract worth $2.5 million with the California Department of Transportation for smart signal systems.

Revenue Breakdown Table

Conclusion

Iteris, Inc. continues to capitalize on its innovative technologies and solutions across various sectors, establishing itself as a leader in smart transportation and agricultural solutions.