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Iteris Full Year 2024 Earnings: EPS Misses Expectations

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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).
NasdaqCM:ITI Revenue and Expenses Breakdown June 18th 2024

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.

Valuation is complex, but we're here to simplify it.

Discover if Iteris might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.