Iteris Full Year 2024 Earnings: EPS Misses Expectations

Iteris (NASDAQ:ITI) Full Year 2024 Results

Key Financial Results

• Revenue: US$172.0m (up 10% from FY 2023).
• Net income: US$3.13m (up from US$14.9m loss in FY 2023).
• Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue.
• EPS: US$0.073 (up from US$0.35 loss in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Iteris EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 30%.

In the last 12 months, the only revenue segment was Electronic Security Devices contributing US$172.0m. Notably, cost of sales worth US$107.4m amounted to 62% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to US$25.3m (41% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$312.0k. Explore how ITI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are down 4.1% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Iteris' balance sheet.

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