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Iteris (ITI)

Iteris is the global leader in smart mobility infrastructure management - the foundation for a new era of mobility. Iteris applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Its end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive.

Company profile

ITI stock data

Analyst ratings and price targets

Last 3 months

Calendar

1 Jun 22
26 Jun 22
31 Mar 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
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Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 23.81M 23.81M 23.81M 23.81M 23.81M 23.81M
Cash burn (monthly) 1.29M 138.25K 1.02M 563.08K 1.2M 476.75K
Cash used (since last report) 3.7M 397.29K 2.94M 1.62M 3.46M 1.37M
Cash remaining 20.11M 23.41M 20.87M 22.19M 20.35M 22.44M
Runway (months of cash) 15.6 169.3 20.4 39.4 16.9 47.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Feb 22 Gerard Mooney Common Stock Buy Acquire P No No 3.35 5,800 19.43K 53,357
9 Feb 22 Douglas L Groves Common Stock Buy Acquire P Yes No 3.4 5,000 17K 15,000
9 Feb 22 Dennis W Zank Common Stock Grant Acquire A No No 3.435 10,000 34.35K 24,424
8 Feb 22 J. Joseph Bergera Common Stock Buy Acquire P No No 3.38 10,000 33.8K 102,716
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
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Largest owners Shares Value Change
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Financial report summary

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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 engineering and consulting 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 coronavirus pandemic could have an adverse effect on our business.
  • Acquisitions of companies or technologies, including our acquisition of 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 engineering and consulting services 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 2021 to 2020 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, 2021. 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 product sales, but also includes OEM products for the traffic signal markets, as well as third-party product sales for installation under certain construction-type contracts. Product revenues for Fiscal 2022 increased approximately 9.2% to $68.7 million, compared to $62.9 million in Fiscal 2021, primarily due to continued strong demand for our hardware solutions, further augmented by approximately $6.0 million of TrafficCast product sales in Fiscal 2022 as compared to approximately $1.4 million of TrafficCast product sales in Fiscal 2021, or a net increase of approximately $4.6 million.
  • Service revenues primarily consist of traffic study, design, engineering, and management services, but also includes service revenues generated from advanced sensor technologies product installation services and cloud-based application installation and support services. Service revenues for Fiscal 2022 increased approximately 19.6% to $64.8 million, compared to $54.2 million in Fiscal 2021. This increase was primarily due to continued adoption of Iteris' ClearMobility Platform and the addition of $7.9 million of TrafficCast SaaS revenue in Fiscal 2022 as compared to approximately $2.7 million of TrafficCast service sales in Fiscal 2021, or a net increase of approximately $5.2 million. Total annual recurring revenue, which we define as revenues from software and managed services contracts, was approximately 25% of total revenue for Fiscal 2022 and approximately 22% of total revenue for Fiscal 2021.

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Patents

Utility
Vehicle queue length and traffic delay measurement using sensor data for traffic management in a transportation network
8 Mar 22
A framework for precision traffic analysis estimates vehicle queue length at an observed roadway and calculates vehicle delay for improvements in traffic flow efficiency at a corresponding traffic intersection.
Utility
Bluetooth low-energy sensor data collection device
3 Aug 21
Systems, methods, and computer-executable instructions for collecting traffic data from devices.
Utility
Conversion of object-related traffic sensor information at roadways and intersections for virtual dynamic digital representation of objects
6 Jul 21
A platform for visualization of traffic information at an observed roadway or traffic intersection converts data collected from sensors for rendering as dynamic animations on a virtual map of the observed roadway or traffic intersection.
Utility
Dynamic advanced traffic detection from assessment of dilemma zone activity for enhancement of intersection traffic flow and adjustment of timing of signal phase cycles
4 May 20
A framework for precision traffic analysis estimates dilemma zone activity to dynamically adjust phase cycle timing for improved efficiency of traffic flow at a roadway intersection.
Utility
Augmented reality system for visualization of traffic information in a transportation environment
28 Oct 19
An augmented reality visualization framework for precision traffic analysis combines traffic data with content representative of physical-world characteristics, such as conditions in an intersection or roadway in which traffic activity occurs, and images of the intersection and roadway itself.