v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Revenues $ 606,761 $ 609,069 $ 1,213,912 $ 1,212,511
Cost of revenues        
Cost of revenues 383,143 398,609 773,075 796,672
Gross profit 223,618 210,460 440,837 415,839
Operating expenses        
Sales, general and administrative 87,615 88,413 174,526 174,384
Research and development 53,810 53,053 103,900 105,454
Amortization of Intangible Assets 4,543 4,511 9,022 8,497
Restructuring 1,237 (99) 684 99
(Gain) loss on sale of business 0 (65) 79 (42)
Total operating expenses 147,205 145,813 288,211 288,392
Operating income 76,413 64,647 152,626 127,447
Other income (expense)        
Interest income 12,303 5,128 24,013 8,974
Interest expense (5,648) (2,290) (11,241) (4,183)
Other income (expense), net 414 (445) 363 18
Total other income (expense) 7,069 2,393 13,135 4,809
Income before income taxes 83,482 67,040 165,761 132,256
Income tax provision (14,730) (15,180) (31,659) (28,609)
Net income 68,752 51,860 134,102 103,647
Net income attributable to noncontrolling interests 412 542 288 608
Net income attributable to Itron, Inc. $ 68,340 $ 51,318 $ 133,814 $ 103,039
Net income per common share - Basic $ 1.50 $ 1.12 $ 2.94 $ 2.25
Net income per common share - Diluted $ 1.47 $ 1.10 $ 2.89 $ 2.22
Weighted average common shares outstanding - Basic 45,633 45,745 45,486 45,698
Weighted average common shares outstanding - Diluted 46,380 46,526 46,276 46,441
Product revenues        
Revenues        
Revenues $ 517,184 $ 532,907 $ 1,040,325 $ 1,060,729
Cost of revenues        
Cost of revenues 337,394 356,747 683,836 713,454
Service revenues        
Revenues        
Revenues 89,577 76,162 173,587 151,782
Cost of revenues        
Cost of revenues $ 45,749 $ 41,862 $ 89,239 $ 83,218