Iteris Inc Reports Q1 Financial Results for Fiscal Year 2025
Intellectia.AI Updated: 1970-01-01
Iteris, Inc. Reports Q1 Financial Results for Fiscal Year 2025
Iteris, Inc. reported its financial results for the fiscal first quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q1 FY 2025 | Q1 FY 2024 | YoY Change | Consensus Estimate |
|---|---|---|---|---|
| Total Revenue | $45.8M | $43.5M | +5.3% | $44.18M |
| Earnings Per Share (EPS) | $0.05 | $0.09 | -44.4% | $0.05 |
Interpretation: Iteris reported a 5.3% year-over-year (YoY) increase in total revenue for the first quarter, reaching $45.8 million, surpassing the consensus estimate of $44.18 million. Earnings per share met the consensus estimate of $0.05, although it marked a decline from $0.09 in the same period last year. The revenue growth was partially offset by increased expenses, resulting in lower profitability compared to the previous year.
Revenue Performance by Segment
| Segment | Q1 FY 2025 Revenue | Q1 FY 2024 Revenue | YoY Change |
|---|---|---|---|
| Product Revenue | $24.4M | $23.7M | +3.1% |
| Service Revenue | $21.4M | $19.9M | +7.5% |
Interpretation: - Product Revenue : Achieved a 3.1% YoY increase to $24.4 million, highlighting continued demand for Iteris' sensors and products. - Service Revenue : Rose by 7.5% to $21.4 million, driven by increased subscription revenue from software products like CVIEWPlus and ClearGuide, as well as an uptick in consulting services.
Dividends or Share Repurchase Program
During Q1 FY 2025, Iteris repurchased 146,541 shares for approximately $0.6 million, averaging $4.24 per share under the 2022 Stock Repurchase Program. The company maintains approximately $8.3 million available for further repurchases.
Forward Guidance
No forward guidance was provided in the earnings release.
Stock Price Movement
After the earnings release, Iteris' stock price saw a change of 5.42%.
Summary: Iteris, Inc. demonstrated solid revenue growth in the fiscal first quarter of 2025, driven by both product and service segments, though profitability saw a decline due to higher expenses. The lack of forward guidance and officer comments leaves some ambiguity for the forthcoming quarters. The company's repurchase activity reflects ongoing shareholder return initiatives, despite the lower EPS.
The report has been organized into a more readable format, and unnecessary sections have been removed.