Filing Flows › Itron (ITRI) › How it makes money
How Itron (ITRI) makes money
Itron (ITRI) made $599M of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. Product revenues brought in $489M (82%); Service revenues brought in $110M (18%). Of every dollar of revenue, 41¢ was left as gross profit, 16¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product revenues | $489M | 81.6% | +8% | -1% |
| Service revenues | $110M | 18.4% | +0.8% | +26% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $599M | 100.0% |
| Cost of revenue | $354M | 59.1% |
| Gross profit | $245M | 40.9% |
| Operating expenses | $149M | 24.9% |
| Operating profit | $95.5M | 15.9% |
| Income tax | $25.8M | 4.3% |
| Net earnings | $71.4M | 11.9% |
| Operating cash flow | $102M | 17.0% |
| Free cash flow | $95.5M | 15.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $599M | +3% |
| Q2 2026 | $563M | -7% |
| Q1 2026 | $587M | -3% |
| Q4 2025 | $572M | -7% |
| Q3 2025 | $582M | -6% |
| Q2 2025 | $607M | -0.4% |
| Q1 2025 | $607M | +0.6% |
From Itron's 10-Q filed Oct 27, 2026 (on EDGAR).
Questions
How does Itron make money?
Itron (ITRI) made $599M of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. Product revenues brought in $489M (82%); Service revenues brought in $110M (18%). Of every dollar of revenue, 41¢ was left as gross profit, 16¢ was left as operating profit, 12¢ was left as net earnings.
What is Itron's biggest business?
Product revenues: $489M in the third quarter 2026, 82% of revenue, -1% from a year earlier.
What is Itron's profit margin?
Net earnings were $71.4M, 11.9% of revenue, in the third quarter 2026; the operating margin was 15.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.