v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Revenues $ 562,902 $ 606,761 $ 1,149,884 $ 1,213,912
Cost of revenues        
Total cost of revenues 332,262 383,143 682,925 773,075
Gross profit 230,640 223,618 466,959 440,837
Operating expenses        
Sales, general and administrative 89,722 87,615 195,079 174,526
Research and development 56,141 53,810 111,140 103,900
Amortization of intangible assets 8,478 4,543 16,650 9,022
Restructuring 233 1,237 447 684
Loss on sale of business 0 0 0 79
Total operating expenses 154,574 147,205 323,316 288,211
Operating income 76,066 76,413 143,643 152,626
Other income (expense)        
Interest income 6,253 12,303 11,913 24,013
Interest expense (5,768) (5,648) (11,577) (11,241)
Other income (expense), net 3,655 414 3,422 363
Total other income (expense) 4,140 7,069 3,758 13,135
Consolidated income before income taxes 80,206 83,482 147,401 165,761
Income tax provision (26,733) (14,730) (40,342) (31,659)
Net income 53,473 68,752 107,059 134,102
Net income attributable to noncontrolling interests 201 412 328 288
Net income attributable to Itron, Inc. $ 53,272 $ 68,340 $ 106,731 $ 133,814
Net income per common share - Basic $ 1.21 $ 1.50 $ 2.40 $ 2.94
Net income per common share - Diluted $ 1.19 $ 1.47 $ 2.37 $ 2.89
Weighted average common shares outstanding - Basic 44,095 45,633 44,412 45,486
Weighted average common shares outstanding - Diluted 44,608 46,380 45,038 46,276
Product revenues        
Revenues        
Revenues $ 453,462 $ 517,184 $ 931,263 $ 1,040,325
Cost of revenues        
Total cost of revenues 280,692 337,394 580,901 683,836
Service revenues        
Revenues        
Revenues 109,440 89,577 218,621 173,587
Cost of revenues        
Total cost of revenues $ 51,570 $ 45,749 $ 102,024 $ 89,239