Core Insights - Iteris, Inc. has launched VantagePriority™, a transit signal priority (TSP) and emergency vehicle preemption (EVP) system, enhancing its Vantage CV™ integrated detection and connected vehicle solution [1][5] Group 1: Product Features - VantagePriority™ enables agencies to prioritize critical vehicles at intersections, improving emergency response times, transit reliability, and reducing congestion [2] - The system utilizes cloud-based infrastructure for real-time responsiveness, minimizing the need for costly new system deployments [3] - It provides valuable analytics and reporting, allowing agencies to track vehicle travel-time savings and optimize system performance [4] Group 2: Strategic Importance - VantagePriority™ is described as a future-ready system that supports the expansion of connected vehicle capabilities, addressing diverse traffic management challenges [5] - The integration of priority and preemption capabilities is designed to be cost-effective and seamless for existing BlueTOAD® and Iteris detection customers [4] Group 3: Company Overview - Iteris, Inc. is a leading provider of smart mobility infrastructure management solutions, part of the Almaviva Group, serving transportation and logistics sectors [6] - The company offers a comprehensive range of cloud-enabled solutions aimed at making mobility safe, efficient, and sustainable [6] Group 4: Almaviva Group Background - Almaviva Group has over 40 years of experience in the Information & Communication Technology sector, with a strong presence in various countries and over 40,000 employees [8] - The group reports revenues exceeding €1.4 billion and focuses on driving innovation across multiple strategic sectors, including transportation [8]

Core Insights - Iteris, Inc. has launched Iteris VantageLink™, a next-generation solution for transportation agencies to remotely connect, monitor, and manage traffic cabinets [1][2] Product Features - VantageLink is built on technology acquired from ThruGreen, enhancing cabinet connectivity and providing real-time visibility into cabinet operations [2] - The solution allows agencies to modernize operations without overhauling existing infrastructure, reducing time and costs [3] - Key features include: - **Real-Time Monitoring & Remote Access**: A secure, cloud-based dashboard offers live visibility into cabinet performance, allowing remote control of power, controllers, and cameras [3] - **Proactive Maintenance**: Continuous monitoring of cabinet health with alerts for power outages and abnormal detections, enabling effective scheduling of preventative maintenance [3] - **Smarter Operations**: Provides actionable insights to extend infrastructure lifespan and improve coordination with maintenance crews [3] Market Position - VantageLink supports both legacy and modern traffic cabinets, making it a scalable solution for current and future mobility needs [4] - Iteris is recognized as a leading provider of smart mobility infrastructure management solutions, serving various sectors including public transportation and logistics [5] Company Background - Iteris is part of the Almaviva Group, which has over 40 years of experience in the Information & Communication Technology sector, with a global presence and revenues exceeding €1.4 billion as of 2024 [7]

Core Insights - Iteris, Inc. and Almaviva are participating in the ITS World Congress 2025 in Atlanta, showcasing their advancements in intelligent transportation systems [1][2] - The event will feature live demonstrations of various innovative products and solutions aimed at enhancing smart mobility infrastructure [6] - Iteris is committed to social responsibility, engaging in charitable activities to support local anti-trafficking initiatives [3] Company Overview - Iteris, Inc. specializes in smart mobility infrastructure management solutions, providing cloud-enabled services to public transportation agencies and other stakeholders [5] - Almaviva has over 40 years of experience in the Information & Communication Technology sector, with a global presence and revenues exceeding €1.4 billion as of 2024 [8] Event Details - The ITS World Congress will take place from August 24 to August 26, featuring key conference sessions led by Iteris and Almaviva experts [2][6] - Attendees can participate in one-on-one meetings with transportation professionals and technology partners [4] Product Innovations - Iteris will demonstrate several products, including Vantage PedSafe® for pedestrian safety, Vantage Apex® for advanced traffic monitoring, and ClearGuide® with AI enhancements [6] - Almaviva will present its digital transformation solutions, including MOOVA Transit and Smart Road technologies [6]

Group 1 - Iteris, Inc. has been selected by Dubai Road and Transport Authority (RTA) to implement its ClearGuide® software for monitoring the city's roadways and intersections [1][2] - The contract is a 42-month multimillion-dollar software-as-a-service agreement aimed at enhancing transportation operations in Dubai, one of the fastest-growing cities globally [2][5] - ClearGuide will provide features such as bottleneck detection, dynamic traffic maps, route alerts, and historical trend reports to improve traffic management and safety [3][4] Group 2 - ClearGuide is part of Iteris' ClearMobility® Platform, which utilizes cloud computing, AI, and advanced sensors to optimize mobility infrastructure [4] - The software aims to reduce congestion, enhance safety, and promote sustainable mobility for all road users in Dubai [5] - Iteris is recognized as a leading provider of smart mobility infrastructure management solutions, serving various transportation agencies and municipalities worldwide [5]

Group 1 - Monteverde & Associates PC is investigating Iteris, Inc. regarding its proposed merger with Almaviva S.p.A., where Iteris shares will be converted into $7.20 in cash [1] - Monteverde & Associates PC has been recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, indicating a strong track record in recovering money for shareholders [1][2] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2][3] Group 2 - The firm encourages shareholders with concerns about Iteris, Inc. to seek additional information free of charge [3] - Contact information for Juan Monteverde, Esq. is provided for shareholders seeking legal assistance [4]

Group 1 - Monteverde & Associates PC is investigating Iteris, Inc. regarding its proposed merger with Almaviva S.p.A., where Iteris shares will be converted into $7.20 in cash [1] - Monteverde & Associates PC has been recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, indicating its successful track record in recovering money for shareholders [1][2] - The firm operates from the Empire State Building in New York City and specializes in class action securities litigation [2][3] Group 2 - The firm emphasizes that no company, director, or officer is above the law, encouraging shareholders with concerns to seek additional information [3] - Monteverde & Associates PC has a successful history in trial and appellate courts, including cases that reached the U.S. Supreme Court [2]

Financial Data and Key Metrics Changes - Iteris reported record total revenue of $45.8 million for Q1 fiscal 2025, a 5% increase year-over-year [4] - Total net bookings reached $48.8 million, with a record trailing 6-month total net bookings of $102.1 million [4][5] - Ending backlog was $126.8 million, representing a 2% increase year-over-year [5] Business Line Data and Key Metrics Changes - Revenue from sensors and third-party hardware was $24.4 million, a 3% increase year-over-year [6] - Service revenue reached a record $21.4 million, an 8% increase year-over-year, driven by strong demand for the ClearGuide SaaS solution [8] Market Data and Key Metrics Changes - The smart mobility infrastructure management market is expected to see significant long-term opportunities due to trends in cloud infrastructure, AI, and connected vehicles [14] - The introduction of new products is anticipated to expand the serviceable addressable market significantly, particularly with the new pedestrian detection system [16] Company Strategy and Development Direction - Iteris aims to evolve into a platform-based business model, enhancing strategic and financial benefits [9] - The company plans to release several major products, including a new AI-based detection system and cloud-connected solutions, to drive growth [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving progressive improvements in financial performance over the next several quarters [10] - The company expects fiscal 2025 total revenue to be in the range of $188 million to $194 million, representing organic growth of 11% year-over-year [17] Other Important Information - Adjusted EBITDA for Q1 fiscal 2025 was $2.9 million, down from $4 million in the same quarter last year [13] - Total cash and cash equivalents at the end of Q1 fiscal 2025 were $21.4 million, down from $25.9 million at the end of the previous quarter [13] Q&A Session Summary Question: Can you touch on the timing elements regarding the second half revenue cadence? - Management implied high teens organic revenue growth in the second half, driven by product releases in September [21] Question: How should we think about the cadence of gross margin as the year progresses? - Management expects gross margins to trend upwards as revenue leverage improves [23] Question: Any updates on the pedestrian detection product with Sumitomo? - The product has been launched and is actively being sold, with favorable market response and pilot initiatives underway [27] Question: How is the Orange County Transportation order progressing? - The project is on schedule, with revenue recognition expected to remain constant throughout the contract duration [44] Question: Any updates on the litigation? - The trial for Wavetronix is expected to occur in September, with a specific date yet to be determined [53]

Core Viewpoint - Ademi LLP is investigating Iteris for potential breaches of fiduciary duty and other legal violations related to its transaction with Almaviva [1][3]. Group 1: Transaction Details - Iteris stockholders will receive $7.20 in cash for each share, valuing the company at approximately $335 million in equity [2]. - The transaction agreement imposes significant penalties on Iteris if it accepts competing bids, which limits potential competing transactions [2]. Group 2: Board Conduct Investigation - The investigation focuses on whether Iteris' board of directors is fulfilling their fiduciary duties to all shareholders [3]. - Ademi LLP specializes in shareholder litigation involving buyouts, mergers, and individual shareholder rights [3].

Group 1 - Iteris is being acquired by Almaviva for $335 million, valuing shares at $7.20 each, which is a 68% premium over the previous closing price [1][2] - The acquisition has received unanimous support from Iteris' board of directors and is pending approval from regulators and shareholders [2] - As of Friday morning, ITI stock has increased by 64%, and the shares will go private once the deal is finalized [3] Group 2 - Joe Bergera, president and CEO of Iteris, expressed confidence in the acquisition, stating it aligns with their vision for digital mobility and innovation [2] - The deal is expected to close sometime this year if all approvals are obtained [2]

Group 1 - Iteris reported quarterly earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of $0.05 per share, and showing an increase from $0.05 per share a year ago, representing a 20% earnings surprise [1] - The company posted revenues of $45.78 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.99%, and an increase from $43.55 million year-over-year [2] - Iteris has topped consensus revenue estimates four times over the last four quarters [2] Group 2 - The stock has underperformed, losing about 21.9% since the beginning of the year, while the S&P 500 has gained 9% [3] - The current consensus EPS estimate for the coming quarter is $0.07 on revenues of $47.5 million, and for the current fiscal year, it is $0.31 on revenues of $188.75 million [7] - The Zacks Industry Rank for Computer - Integrated Systems is currently in the bottom 25% of over 250 Zacks industries, indicating potential challenges for stock performance [8]