Core Insights - Itron, in partnership with Pacific Technologies, is deploying smart metering technology for the Water Authority of Fiji (WAF) to enhance water operations and infrastructure [1][2] - The initiative aligns with WAF's Water Sector Strategy 2050, which aims for clean water, safe sanitation, financial sustainability, and a skilled workforce [2][5] - The deployment began in May 2025 and is expected to be completed by Q3 2025, focusing on modernizing existing infrastructure [1][3] Infrastructure Upgrade - WAF is upgrading its existing meters to Itron mechanical meters equipped with Cyble communications modules, transforming them into smart meters [3][4] - The Cyble module features a clip-on design that simplifies installation, making it a cost-effective solution for modernizing water operations [3][5] - The Temetra solution will facilitate data collection and storage, eliminating the need for manual meter reading and allowing for easy access to consumption data [3][4] Addressing Non-Revenue Water - The deployment aims to reduce non-revenue water, which WAF estimates to be 47% of its produced water [2][4] - Itron's solutions will provide insights and advanced data analytics to identify water losses, enhancing operational efficiency [4][6] - The integration of Itron's technology with WAF's existing systems will offer a comprehensive view of the water infrastructure across Fiji [4][6] Long-Term Vision - WAF's long-term vision includes creating a resilient and reliable water network, with the scalability of Itron's solutions allowing for gradual expansion based on priorities and budget [5][6] - The deployment is seen as a practical model for smart water management, enabling WAF to upgrade its network at its own pace [6][7] - Itron's smart water solution is designed to withstand harsh environmental conditions, reducing long-term maintenance costs for WAF [6][7]

Financial Performance - FY25 Q2 revenue was $18 million, down 26% quarter-over-quarter[17] - FY25 Q2 gross profit was $1.7 million, down 70% quarter-over-quarter[17] - FY25 Q2 net loss was $9.8 million, a 126% increase quarter-over-quarter[17] - FY25 Q2 adjusted EBITDA was a loss of $6.5 million, down 129% quarter-over-quarter[17] - Trailing twelve months (TTM) revenue was $116.5 million, down 15% year-over-year[20] - TTM gross profit was $46.4 million, down 17% year-over-year[20] - TTM net loss was $16.4 million, down 202% year-over-year[20] - TTM adjusted EBITDA was $16 million, down 53% year-over-year[20] Segment Performance - Smart Water segment Q2 revenue increased 48% quarter-over-quarter to $9.5 million[25] - Energy Solutions segment Q2 revenue decreased 77% quarter-over-quarter to $2.6 million[31] - Intelligent Industrial segment Q2 revenue decreased 13% quarter-over-quarter to $5.9 million[37] Smart Water Segment - Over 27 million Hydroconn® universal AMI connectors have been sold[13] - Hydroconn® connectors achieved their highest first six-months revenue to date[15, 28] - Hydroconn® smart water meter connector cabling product line is BABA compliant[29]

Core Insights - Itron, Inc. has shipped over 2 million Cyble 5 communication modules, with Metz Eurométropole Water Utility receiving the milestone module, supporting its transition to advanced metering infrastructure (AMI) [1][2] - The Cyble 5 module enables real-time monitoring and advanced analytics, allowing water providers to make data-driven decisions for optimized operations and improved service delivery [2][3] - Metz Eurométropole Water Utility serves over 47,000 people and utilizes the Cyble 5 module to enhance leak prevention, resource allocation, and billing accuracy since its deployment began in 2022 [3] Company and Product Features - The Cyble 5 module connects to Metz Eurométropole's LoRaWAN AMI network, facilitating two-way communication and extensive data sets [3] - The module's durable design is IP68-rated, ensuring protection against harsh environments, which helps lower maintenance and meter replacement costs [6] - It offers interoperability with open standards, allowing seamless integration with AMR, AMI, and IoT networks [6] Strategic Importance - The deployment of the Cyble 5 module is seen as a strategic investment for Metz Eurométropole, enabling the utility to achieve its water management goals [2][4] - The improved data management capabilities allow for better targeting of investments, enabling reinvestment of savings into expanding smart water solutions [4] - Itron emphasizes the critical need for smarter operations in light of rising water demand, climate disruption, and urbanization [4]