UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-22418 ITRON, INC. (Exact name of registrant as specified in its charter) Washington 91-1011792 (State of Incorporation) (I.R.S. Employer Id ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-22418 ITRON, INC. (Exact name of registrant as specified in its charter) Washington 91-1011792 (State of Incorporation) (I.R.S. Employer Identifica ...

Itron, Inc. (NASDAQ:ITRI) Q4 2022 Earnings Conference Call February 27, 2023 10:00 AM ET Company Participants David Means - Director of Investor Relations Tom Deitrich - President & Chief Executive Officer Joan Hooper - Senior Vice President & Chief Financial Officer Conference Call Participants Noah Kaye - Oppenheimer Jeff Osborne - Cowen & Company Chip Moore - EF Hutton Group Kashy Harrison - Piper Sandler Ben Kallo - Baird Pavel Molchanov - Raymond James Marin Malloy - Johnson Rice & Company Operator Goo ...

Itron, Inc. (NASDAQ:ITRI) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET Company Participants Ken Gianella – Vice President-Investor Relation Tom Deitrich – President and Chief Executive Officer Joan Hooper – Senior Vice President and Chief Financial Officer Conference Call Participants Noah Kaye – Oppenheimer Jeff Osborne – Cowen & Company Pavel Molchanov – Raymond James Chip Moore – EF Hutton Operator Good day and welcome to the Itron, Incorporate Quarter Three 2022 Earnings Call. Today's c ...

Tom Deitrich – President and Chief Executive Officer Joan Hooper – Senior Vice President and Chief Financial Officer Kenneth Gianella – Vice President, Investor Relations Third Quarter 2022 Earnings Conference Call November 3, 2022 ©2022 ITRON PROPRIETARY ©2022 ITRON PROPRIETARY Q3 2022 Earnings Conference Call | 1 FORWARD LOOKING STATEMENTS Certain matters in this presentation and being discussed today, that are not statements of historical fact, constitute forward-looking statements relating to current or ...

Financial Performance - Total revenues for Q3 2022 were $420.86 million, a decrease of 13.5% compared to $486.95 million in Q3 2021[9] - Product revenues decreased to $347.79 million in Q3 2022 from $410.95 million in Q3 2021, representing a decline of 15.3%[9] - Net income for Q3 2022 was $4.47 million, compared to a net loss of $1.01 million in Q3 2021[10] - Gross profit for the nine months ended September 30, 2022, was $381.39 million, down from $451.88 million in the same period of 2021, reflecting a decrease of 15.5%[9] - Operating income for Q3 2022 was $6.89 million, an increase from $4.16 million in Q3 2021[9] - The company reported a comprehensive loss of $21.64 million for Q3 2022, compared to a loss of $7.58 million in Q3 2021[10] - For the nine months ended September 30, 2022, Itron reported a net loss of $31,497,000, compared to a net loss of $19,875,000 for the same period in 2021, indicating a deterioration in performance[19] - The company experienced a net loss before income taxes of $26.52 million for the nine months ended September 30, 2022, compared to a loss of $14.29 million in the same period of 2021[125] Assets and Liabilities - Total assets as of September 30, 2022, were $2.32 billion, a decrease from $2.39 billion as of December 31, 2021[15] - Cash and cash equivalents increased to $215.41 million as of September 30, 2022, up from $162.58 million at the end of 2021[15] - Total liabilities decreased to $1.20 billion as of September 30, 2022, from $1.25 billion at the end of 2021[15] - Itron, Inc. shareholders' equity decreased to $1.09 billion as of September 30, 2022, from $1.12 billion at the end of 2021[15] - The total accounts receivable, net as of September 30, 2022, was $266.669 million, down from $298.459 million as of December 31, 2021[37] Cash Flow and Operating Activities - Net cash provided by operating activities for the nine months ended September 30, 2022, was $37,530,000, a significant decrease from $141,147,000 in the same period of 2021[19] - The company reported depreciation and amortization of intangible assets amounting to $50,612,000 for the nine months ended September 30, 2022, down from $64,252,000 in 2021[19] - The company recognized a loss of $1.9 million during Q3 2022 due to the liquidation of its legal entity in Russia[25] Revenue Segments - Device Solutions segment reported product revenues of $92.89 million for Q3 2022, down 38% from $149.83 million in Q3 2021[125] - Networked Solutions segment generated $240.50 million in product revenues for Q3 2022, slightly down from $242.53 million in Q3 2021[125] - Outcomes segment's product revenues decreased to $14.40 million in Q3 2022 from $18.59 million in Q3 2021, representing a decline of 22.5%[125] Inventory and Supply Chain - Raw materials inventory increased to $160.000 million as of September 30, 2022, from $122.434 million as of December 31, 2021[37] - Total inventories as of September 30, 2022, were $203.612 million, compared to $165.799 million as of December 31, 2021[37] - The company experienced supply chain challenges, particularly in obtaining semiconductor components, impacting the ability to meet customer demand[157] Stock and Compensation - The company has 12,623,538 shares of common stock reserved for issuance under the Stock Incentive Plan, with 4,626,437 shares available for grant as of September 30, 2022[76] - Total stock-based compensation expense for the three months ended September 30, 2022, was $4.708 million, a decrease of 24% from $6.184 million in the same period of 2021[78] - For the nine months ended September 30, 2022, total stock-based compensation expense was $18.012 million, down 15% from $21.112 million in 2021[78] Tax and Compliance - The company reported a tax rate of 10% for the three months ended September 30, 2022, differing from the federal statutory rate of 21% due to various factors including valuation allowances[83] - Unrecognized tax benefits related to uncertain tax positions amounted to $136.559 million as of September 30, 2022[87] - The company is in compliance with the debt covenants under the 2018 credit facility as of September 30, 2022[48] Future Outlook - The total transaction price allocated to remaining performance obligations is approximately $1.4 billion for the next 12 months, indicating strong future revenue potential[130] - The company anticipates an increase in the penetration of Outcomes applications and managed applications as the endpoints under management grow[165]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-22418 ITRON, INC. (Exact name of registrant as specified in its charter) Washington 91-1011792 (State of Incorporation) (I.R.S. Employer Ide ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-22418 ITRON, INC. (Exact name of registrant as specified in its charter) Washington 91-1011792 (State of Incorporation) (I.R.S. Employer Id ...

Financial Performance - Total bookings for the year ended December 31, 2021, were $2,755 million, an increase from $2,213 million in 2020, representing a growth of 24.5%[25] - Total backlog as of December 31, 2021, was $4,017 million, up from $3,259 million in 2020, indicating a year-over-year increase of 23.3%[25] - The 12-month backlog as of December 31, 2021, was $1,539 million, compared to $1,204 million in 2020, reflecting a growth of 27.8%[25] - The company's ten largest customers accounted for approximately 25% of total revenues in 2021, down from 33% in 2020[27] - As of December 31, 2021, the company's total outstanding indebtedness was $460.0 million, which could restrict operational flexibility and limit capital raising capabilities[78] - The 2018 credit facility imposes restrictions based on specified financial ratios, affecting the ability to make scheduled payments and refinance debt[78] - Research and development investment was approximately $197 million in 2021, accounting for 10% of total revenues, compared to 9% in 2020 and 8% in 2019[32] Market and Competitive Landscape - The company operates in a competitive landscape with primary competitors including Landis+Gyr, Hubbell, and Xylem, among others[36] - The company operates under a diverse competitive landscape, with primary competitors including Landis+Gyr and Xylem, Inc.[36] - Competitive pressures from companies with greater resources may lead to loss of market share and price erosion of products and services[67] - The company derives the majority of its revenues from sales of products and services to utilities, which are subject to unpredictable sales cycles and capital spending volatility[54] Product and Service Offerings - Itron's Device Solutions segment includes hardware products for measurement and control, while the Networked Solutions segment focuses on communicating devices and data networks[20][21] - The Outcomes segment emphasizes value-added software and services, with a focus on recurring revenue streams from managed services and analytics[22] - The company’s solutions include smart networks, software, services, devices, sensors, and data analytics, aimed at improving resource management and operational efficiency[17] - The company’s comprehensive offerings are designed to help utilities and municipalities manage resources responsibly and efficiently[11] Operational Challenges - The company is facing increasing complexity in its product and service mix due to evolving technology and regulatory pressures, which may lead to risks and potential defects in new offerings[57] - The adaptation to new technologies and the development of new products could result in lower revenue and margins, adversely impacting financial performance[58] - The company relies on limited or sole sources for key components, which may lead to operational difficulties and increased costs if these sources fail to perform[59] - Recent inflation in raw materials and component costs has risen above historical levels, impacting revenues and operational results[60] - The ongoing COVID-19 pandemic continues to disrupt business operations, with uncertain effects on cash flows and financial condition[61] - The company is experiencing difficulties sourcing semiconductor components, which has affected its ability to meet recovering customer demand[62] - Labor disruptions in various countries could adversely affect the company's financial condition and results of operations[97] Strategic Initiatives - The company has a history of strategic acquisitions, including Schlumberger Electricity Metering in 2004 and Silver Spring Networks in 2018, to enhance its product offerings and market presence[12][13] - The company’s strategic alliances aim to enhance product advancement and market entry, focusing on technology exchange and joint marketing[40] - The company has implemented multiple restructuring projects aimed at adjusting the cost structure, which may not achieve anticipated savings and could incur additional charges[93] Regulatory and Compliance Risks - The company is materially in compliance with governmental regulations, with no known regulations pending that would significantly impact operations[42] - The company faces risks related to environmental regulations, which could lead to significant costs and operational impacts[131] - The company is subject to complex foreign corrupt practices and anti-bribery laws, with potential penalties for violations that could adversely affect operations[134] - The SEC's rules on conflict minerals may impose additional compliance costs and affect the company's reputation and sourcing capabilities[135] Intellectual Property and Technology - The company’s patents cover a range of technologies related to smart metering solutions and IIoT, with no single patent critical to business success[41] - The company faces risks related to the protection of its intellectual property, which may not provide meaningful competitive advantages and could lead to costly litigation[101] - Allegations of unauthorized use of third-party intellectual property could result in significant liabilities and affect the company's financial condition[102] - The company relies on information technology systems that may be vulnerable to cyber-attacks, which could lead to operational disruptions and reputational damage[105] Workforce and Demographics - As of December 31, 2021, the company employed 6,065 people, including 5,635 permanent employees[33] - The company’s workforce demographics show that 46% are male and 54% are female in the Americas region as of December 31, 2021[35] - The company may face challenges in attracting and retaining key personnel, which is essential for developing and delivering new products and services[76] Financial and Market Risks - A substantial portion of revenues is derived from international operations, exposing the company to risks such as currency fluctuations and political instability[88] - The company faces risks related to increased market interest rates, which could raise interest expenses on unhedged borrowings[78] - The ability to restructure or refinance debt will depend on capital market conditions and the company's financial health at that time[79] - Future sales of stock or issuance of shares upon conversion of Convertible Notes could lead to a decline in stock price due to dilution[85] Future Outlook - The company’s future outlook includes continued innovation and support for open standards to meet customer needs through a diverse ecosystem[14] - Government regulations promoting smart grid infrastructure may influence the company's sales cycles and product demand[56]

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-22418 ITRON, INC. (Exact name of registrant as specified in its charter) Washington 91-1011792 (State of Incorporation) (I.R.S. Employe ...