v3.26.3
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues        
Revenues $ 599,333 $ 581,625 $ 1,749,217 $ 1,795,537
Cost of revenues        
Total cost of revenues 354,463 362,080 1,037,388 1,135,155
Gross profit 244,870 219,545 711,829 660,382
Operating expenses        
Sales, general and administrative 84,067 83,139 279,146 257,665
Research and development 56,957 50,032 168,097 153,932
Amortization of intangible assets 8,460 4,403 25,110 13,425
Restructuring (102) 188 345 872
Loss on sale of business 0 0 0 79
Total operating expenses 149,382 137,762 472,698 425,973
Operating income 95,488 81,783 239,131 234,409
Other income (expense)        
Interest income 7,194 13,569 19,107 37,582
Interest expense (5,863) (5,647) (17,440) (16,888)
Other income (expense), net 202 996 3,624 1,359
Total other income (expense) 1,533 8,918 5,291 22,053
Consolidated income before income taxes 97,021 90,701 244,422 256,462
Income tax provision (25,750) (24,478) (66,092) (56,137)
Net income 71,271 66,223 178,330 200,325
Net income (loss) attributable to noncontrolling interests (98) 610 230 898
Net income attributable to Itron, Inc. $ 71,369 $ 65,613 $ 178,100 $ 199,427
Net income per common share - Basic $ 1.63 $ 1.43 $ 4.03 $ 4.38
Net income per common share - Diluted $ 1.61 $ 1.41 $ 3.97 $ 4.30
Weighted average common shares outstanding - Basic 43,812 45,746 44,210 45,574
Weighted average common shares outstanding - Diluted 44,411 46,660 44,827 46,405
Product revenues        
Revenues        
Revenues $ 489,002 $ 494,323 $ 1,420,265 $ 1,534,648
Cost of revenues        
Total cost of revenues 302,831 319,238 883,732 1,003,074
Service revenues        
Revenues        
Revenues 110,331 87,302 328,952 260,889
Cost of revenues        
Total cost of revenues $ 51,632 $ 42,842 $ 153,656 $ 132,081