Itron Posts $572M Q4 Revenue and $99M EBITDA With 27% Pipeline Growth
Itron booked $737 million in Q4 orders with pipeline up 27% and outcomes backlog up 58% to $1 billion, while revenue reached $572 million and EBITDA at $99 million. Annual recurring revenue rose 20% to $368 million; management forecasts up to 20% ARR growth aided by Urbint and Locusview acquisitions.
1. Q4 Bookings and Financial Results
Itron recorded Q4 2025 bookings of $737 million, driving a 27% year-over-year increase in its pipeline and a 58% surge in outcomes backlog to over $1 billion. The company generated $572 million in revenue and achieved $99 million in adjusted EBITDA, marking record quarterly profitability.
2. ARR Growth Outlook
Annual recurring revenue climbed 20% to $368 million, reflecting strong subscription demand and repeat business. Management projects up to 20% ARR growth in 2026, leveraging the contributions from the recent Urbint and Locusview acquisitions.
3. Resiliency Solutions Impact
The newly formed Resiliency Solutions segment is enhancing service offerings with AI-driven crew positioning and real-time response tools, evidenced by 3.5 million service hours logged during Winter Storm Fern. While driving long-term revenue, the segment’s acquisition costs are expected to dilute full-year 2026 earnings per share.