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ITI Iteris

Iteris, Inc. engages in the provision of information solutions for both the traffic management and global agribusiness markets. It operates through the following segments: Roadway Sensors; Transportation Systems; and Agriculture and Weather Analytics. The Roadway Sensors segment offers various vehicle detection and information systems and products for traffic intersection control, incident detection, and roadway traffic data collection applications. The Transportation Systems segment includes transportation engineering and consulting services. The Agriculture and Weather Analytics segment consists of ClearAg solutions and ClearPath Weather management tools, which deliver road maintenance applications and digital agriculture platforms, respectively. The company was founded by Joel Slutzky in 1969 and is headquartered in Santa Ana, CA.

Company profile

Ticker
ITI
Exchange
Website
CEO
J. Joseph Bergera
Employees
Incorporated
Location
Fiscal year end
Former names
ITERIS HOLDINGS INC, ODETICS INC
SEC CIK
IRS number
952588496

ITI stock data

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Calendar

7 Jun 21
14 Jun 21
31 Mar 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Iteris earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 25.47M 25.47M 25.47M 25.47M 25.47M 25.47M
Cash burn (monthly) (positive/no burn) (positive/no burn) 127.33K (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 314.16K n/a n/a n/a
Cash remaining n/a n/a 25.15M n/a n/a n/a
Runway (months of cash) n/a n/a 197.5 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jun 21 J. Joseph Bergera Common Stock Sell Dispose S No No 7.001 2,101 14.71K 34,628
7 Jun 21 Todd Kreter Common Stock Sell Dispose S No No 6.8439 27,250 186.5K 83,132
4 Jun 21 J. Joseph Bergera Common Stock Sell Dispose S No No 7.0374 36,004 253.37K 36,729
4 Jun 21 J. Joseph Bergera Common Stock Option exercise Aquire M No No 2.38 64,932 154.54K 72,733
4 Jun 21 J. Joseph Bergera Stock option right to buy Common Stock Option exercise Dispose M No No 2.38 64,932 154.54K 1,285,068
4 Jun 21 Todd Kreter Common Stock Sell Dispose S No No 6.9847 10,421 72.79K 110,382
4 Jun 21 Todd Kreter Common Stock Option exercise Aquire M No No 2.37 75,000 177.75K 120,803
4 Jun 21 Todd Kreter Common Stock Option exercise Aquire M No No 1.87 12,500 23.38K 45,803
4 Jun 21 Todd Kreter Stock option right to buy Common Stock Option exercise Dispose M No No 2.37 75,000 177.75K 0
4 Jun 21 Todd Kreter Stock option right to buy Common Stock Option exercise Dispose M No No 1.87 12,500 23.38K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

58.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 100 80 +25.0%
Opened positions 31 10 +210.0%
Closed positions 11 7 +57.1%
Increased positions 27 32 -15.6%
Reduced positions 34 25 +36.0%
13F shares
Current Prev Q Change
Total value 183.65M 580.46M -68.4%
Total shares 24.45M 23.18M +5.5%
Total puts 42.7K 15.2K +180.9%
Total calls 1.2K 0 NEW
Total put/call ratio 35.6 Infinity NaN%
Largest owners
Shares Value Change
Royce & Associates 3.06M $18.87M +11.8%
BLK Blackrock 2.92M $18.03M -5.8%
Vanguard 1.94M $12M -15.8%
Cowen Prime Services 1.65M $10.2M +4.1%
Samjo Capital 1.29M $7.96M +2.0%
Venator Management 1M $6.19M -28.1%
Essex Investment Management 912.88K $5.63M +53.6%
SAMG Silvercrest Asset Management 865.37K $5.34M +13.6%
Geode Capital Management 663.89K $4.1M +9.9%
STT State Street 640.01K $3.95M -4.0%
Largest transactions
Shares Bought/sold Change
Victory Capital Management 504.09K +504.09K NEW
Renaissance Technologies 487.3K -397.72K -44.9%
Venator Management 1M -391.5K -28.1%
Vanguard 1.94M -364.13K -15.8%
Royce & Associates 3.06M +323.47K +11.8%
Essex Investment Management 912.88K +318.39K +53.6%
Envestnet Asset Management 305K +305K NEW
Mercer Global Advisors 298.17K +298.17K NEW
State Board Of Administration Of Florida Retirement System 276.93K +261.42K +1685.8%
THB Asset Management 0 -254.39K EXIT

Financial report summary

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Competition
Image Sensing SystemsWilldanVelocity
Risks
  • Because we depend on government contracts and subcontracts, we face additional risks related to contracting with federal, state and local governments, including budgetary issues and fixed price contracts, that could adversely impact our future revenues and profitability.
  • Our profitability could be adversely affected if we are not able to maintain adequate utilization of our Transportation Systems workforce.
  • Our management information systems and databases have been and could in the future be disrupted by data protection breaches, system security failures, cyber threats or by the failure of, or lack of access to, our internal operations, such as our enterprise resource planning ("ERP") system, or services provided to our customers. These disruptions could negatively impact our sales, increase our expenses, significantly harm our reputation and/or adversely affect our stock price.
  • If unauthorized access is obtained to our customer's personal and/or proprietary data in connection with our web-based and mobile application solutions and services, we may suffer various negative impacts, including a loss of customer and market confidence, loss of customer loyalty, and significant liability to our customers and to individuals or businesses whose information was being stored.
  • The recent coronavirus outbreak could have an adverse effect on our business.
  • Acquisitions of companies or technologies, including our acquisition of AGI and TrafficCast, may require us to undertake significant capital infusions and could result in disruptions of our business and diversion of resources and management attention.
  • Acquisitions, investments and divestitures could result in operating difficulties, dilution, and other consequences that may adversely affect our business and results of operations.
  • We participate in the software development market, which may be subject to various technical and commercial challenges.
  • If we do not keep pace with rapid technological changes and evolving industry standards, we will not be able to remain competitive, and the demand for our products will likely decline.
  • If we are unable to develop and introduce new products and product enhancements in a cost-effective and timely manner, or are unable to achieve market acceptance of our new products, our operating results would be adversely affected.
  • We may need to raise additional capital in the future, which may not be available on terms acceptable to us, or at all.
  • The markets in which we operate are highly competitive with many companies more established than we are.
  • Our failure to successfully secure new contracts and renew existing contracts could reduce our revenues and profitability.
  • We may be unable to attract and retain key personnel, including senior management, which could seriously harm our business.
  • We may not be able to adequately protect or enforce our intellectual property rights, which could harm our competitive position.
  • We may continue to be subject to traffic-related litigation.
  • We may not be able to consistently achieve profitability on a quarterly or annual basis in the future.
  • If we experience declining or flat revenues and we fail to manage such declines effectively, we may be unable to execute our business plan and may experience future weaknesses in our operating results.
  • Our use of estimates in conjunction with the input method of measuring progress to completion of performance obligations for our Transportation Systems revenues could result in a reduction or reversal of previously recorded revenues and profits.
  • Declines in the value of securities held in our investment portfolio can affect us negatively.
  • If our internal controls over financial reporting do not comply with the requirements of the Sarbanes-Oxley Act, our business and stock price could be adversely affected.
  • Our quarterly operating results fluctuate as a result of many factors. Therefore, we may fail to meet or exceed the expectations of securities analysts and investors, which could cause our stock price to decline.
  • Our international business operations may be threatened by many factors that are outside of our control.
  • The trading price of our common stock is highly volatile.
  • Provisions of our charter documents may discourage a third party from acquiring us and may adversely affect the price of our common stock.
Management Discussion
  • For a comparison of the 2020 to 2019 fiscal years, see Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations of the Company's Form 10-K for the fiscal year ended March 31, 2020. Note that the filings of the 2020 and 2019 fiscal years do not reflect results of discontinued operation related activities, which are reflected in this report.
  • Product revenues primarily consist of Roadway Sensors product sales, but also include OEM products for the traffic signal markets, Transportation Systems third-party product sales for installation under certain construction-type contracts and sales from TrafficCast's public sector business. Product revenues for Fiscal 2021 increased approximately 14.4% to $62.9 million, compared to $55.0 million in Fiscal 2020, primarily due to an increase in sales of our core Roadway Sensors video detection products of approximately $6.8 million, an increase of approximately $1.3 million from Transportation Systems third-party product sales for installation under certain construction-type contracts and an addition of TrafficCast's public sector business of approximately $1.4 million, offset by a decrease of approximately $1.0 million from our distribution in Texas of certain OEM products for the traffic intersection market.
  • Service revenues primarily consist of Transportation Systems engineering services, but also includes service revenues generated by our Roadway Sensors segment and the TrafficCast's commercial business. Service revenues for Fiscal 2021 increased approximately 3.5% to $54.2 million, compared to $52.4 million in Fiscal 2020, primarily due to approximately $2.7 million of revenues from the operations of TrafficCast's commercial business, and offset by reduction in subcontractor revenue in our Transportation Systems segment. This reduction was primarily due to supply chain and logistic issues attributable to the Pandemic, experienced by a group of third-party subcontractors.
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