Tantalus Systems Holding (OTCPK:TGMP.F) Update / Briefing December 16, 2025 04:00 PM ET Company ParticipantsNone - Company Representative 2None - Company Representative 1None - Company Representative 3NoneThat safety situation in hand and alleviate that problem. But what a remote disconnect allows us to do is it allows us to have power to every customer. So you can put someone on a prepay program. So even if a customer can't afford electricity, you can set them up to be successful using our meters in a prep ...

A sharp rally, a sudden reversal, record cash flow, and one institutional trim -- all raise a bigger question about where Itron fits in a long-term portfolio right now.Aristotle Capital Boston cut its stake in Itron (ITRI 1.00%) by 123,119 shares in the third quarter, contributing to a reduction in the overall position value of about $18.35 million, according to a November 14 SEC filing.What HappenedAccording to a U.S. Securities and Exchange Commission (SEC) filing dated November 14, Aristotle Capital Bost ...

LIBERTY LAKE, Wash., Dec. 04, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that its 2026 Annual Meeting of Shareholders (2026 annual meeting) will take place on May 7, 2026. The exact time and location of the 2026 annual meeting will be provided in the notice of the annual meeting to be sent to all shareholders. Itron previously announced May 14, 2026, as the anticipated date for the 2026 annual meeting ...

Company Overview - Itron, Inc. is a leading technology provider specializing in integrated solutions for utilities and smart cities, addressing energy, water, and infrastructure management needs [5] - The company generates revenue through direct sales and partnerships by providing end-to-end measurement, control, and analytics solutions, as well as cloud-based services and ongoing maintenance [8] - Itron's strategy focuses on combining hardware, network connectivity, and advanced analytics to deliver operational efficiency and actionable insights for clients [6] Financial Metrics - As of November 5, 2025, Itron's share price was $107.15, with a market capitalization of $4.87 billion [4] - The company's revenue for the trailing twelve months (TTM) was $2.41 billion, and net income for the same period was $257.53 million [4] Investment Activity - Impax Asset Management Group increased its investment in Itron by acquiring approximately 890,040 shares, raising the position's value by $105.16 million, totaling 1,588,950 shares worth $197.15 million as of September 30, 2025 [2][3] - The Itron stake represents 1.15% of Impax's 13F assets under management (AUM) after the trade [3] Market Position and Growth Potential - Itron plays a crucial role in modernizing utility infrastructure, with its devices measuring and managing electricity and water flow [11] - The company has strategic customer relationships and high switching costs, which could support long-term growth if it successfully expands its revenue from analytics, software, and higher-margin services [12] - Itron's importance is underscored by its ability to help cities respond to aging infrastructure, tighter regulations, and rising efficiency demands [11]

Tantalus Systems Holding (OTCPK:TGMP.F) Update / Briefing November 25, 2025 10:00 AM ET Company ParticipantsPete Londa - President, CEO, and DirectorAzim Lalani - CFODeb Honig - Investor Relations ContactAzim Lalani$100,000 or 10%. The increases in revenue were the result of higher sales volumes to our existing customers and the conversion of our new utility customers that are commencing projects with Tantalus. Recurring revenue, recognized in Q3, increased to $3.4 million and represented 24% of total reven ...

Summary of Tantalus Systems Holding Update / Briefing (November 25, 2025) Company Overview - **Company**: Tantalus Systems Holding (OTCPK:TGMP.F) - **Industry**: Utility technology and smart grid solutions Key Financial Metrics - **Cash Flow**: Approximately $1.3 million used from cash flow from operations due to seasonal working capital changes [1] - **Liquidity**: Available liquidity of approximately $18.3 million, including $9.8 million in cash and $8.5 million in borrowing capacity [1] - **Revenue**: Record revenue of approximately $52 million over the trailing 12 months, up from $42 million the previous year [1] - **Recurring Revenue**: Record recurring revenue of $12.7 million, representing 25% of total revenues [2] - **Gross Profit Margin**: Strong gross profit margin of 54% [2] - **Adjusted EBITDA**: Positive adjusted EBITDA of $3.5 million, with a margin of 6.7% [2] Business Performance and Growth - **Customer Base**: Approximately 88% of revenue generated during the quarter came from existing customers, indicating strong customer retention and growth potential [3] - **TruSense Gateway Orders**: 52 utilities have placed orders for the TruSense Gateway, exceeding internal expectations [4] - **Sales Pipeline**: Orders converted from the sales pipeline have surpassed any prior complete year, with over $50 million in orders converted [5] - **Order Growth**: Orders have grown over 30% year-over-year, while revenue is up 22% [16] Product Development and Market Strategy - **TruSense Gateway**: Positioned as part of a broader platform for utilities, focusing on grid modernization and data analytics [12][15] - **Manufacturing Capacity**: Current contract manufacturing capacity is 150,000 units per year, with plans for geographic diversification [8][9] - **Market Adoption Timeline**: Expected adoption timeline for utilities to deploy the TruSense Gateway is 3-5 years, with initial trials lasting from 3 to 18 months [10][11] Future Outlook - **2026 Expectations**: Internal targets for utility orders are being evaluated, with significant growth opportunities identified from the current 52 utilities [50][51] - **Acquisition Strategy**: Future acquisitions will focus on being accretive to earnings and expanding market access, technology, and product lines [38][39] - **Data Management Focus**: Emphasis on managing existing data and integrating new data from devices like the TruSense Gateway [56] Additional Insights - **Utility Challenges**: Data centers are creating capacity constraints for utilities, necessitating modernization and improved power quality [46][48] - **Installation Services**: Most utilities handle their own installations, with Tantalus providing oversight and project management without entering the installation business [60][61] - **Competitive Landscape**: Tantalus competes and partners with meter vendors, but has not seen direct competition for the TruSense Gateway from these partners [44][45] This summary encapsulates the key points from the Tantalus Systems Holding update, highlighting financial performance, product development, market strategy, and future outlook.

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $582 million, with adjusted EBITDA of $97 million and non-GAAP earnings per share of $1.54, reflecting a decrease in revenue compared to the previous year due to planned portfolio changes and project timing [4][9] - Gross margin reached a record 37.7%, up 360 basis points year over year, while GAAP net income was $66 million, down from $78 million in the prior year due to higher tax expenses [9][10] - Free cash flow was a record $113 million, representing 19.5% of revenue, compared to $59 million a year ago, attributed to improved working capital and operational earnings growth [10][13] Business Line Data and Key Metrics Changes - Device Solutions revenue decreased by 19% on a constant currency basis, primarily due to a decline in legacy electricity products in EMEA and lower water volumes in North America [11] - Network Solutions revenue decreased by 6% year over year, mainly due to the timing of project deployments [11] - Outcomes revenue increased by 10% on a constant currency basis, driven by growth in recurring revenue [11][12] Market Data and Key Metrics Changes - The total backlog at the end of Q3 was $4.3 billion, with Q3 bookings at $380 million [4][9] - The company noted that while there is a slower pace on some projects, there have been no project cancellations or declines in customer interest, although market uncertainty has increased [5][6] Company Strategy and Development Direction - The company is focused on enhancing grid performance and reliability through the adoption of grid edge technology, which is expected to drive future growth [5][17] - The recent acquisition of Urbant is expected to complement the company's portfolio and address critical infrastructure needs, with a focus on operational resilience solutions [6][8][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that while current dynamics may temper year-end booking expectations, the long-term growth trajectory remains unchanged [6][17] - The company anticipates Q4 revenue to be between $555 million to $565 million, representing a decline of 9% year over year, but expects non-GAAP earnings per share to increase due to favorable tax items [14][15] Other Important Information - The company has seen a 25% expansion in its opportunity pipeline since the start of the year, indicating strong market demand despite current challenges [6][17] - The company’s total debt at the end of Q3 was $1.265 billion, with cash and equivalents at $1.332 billion [13] Q&A Session Summary Question: Clarification on revenue decline and gross margins - Management indicated that the biggest weakness was in Network Solutions due to slower project deployments, but gross margins for Q4 are expected to be similar to Q3 [22][24] Question: Insights on project delays and demand environment - Management confirmed that while there are delays in hardware-oriented projects, recurring revenue bookings are strong, and the overall demand remains robust [25][28] Question: Details on Network Solutions revenue decline - The decline was attributed to the completion of major deployments and customers spreading projects over longer periods due to budget constraints [34][36] Question: Backlog and delivery times - Management noted that some projects are being extended over longer periods, but this does not indicate a loss of backlog or revenue [67][68] Question: Future growth trajectory and Urbant acquisition - Management stated it is too early to provide guidance for 2026, but growth is expected, and the Urbant acquisition is anticipated to enhance service offerings and customer engagement [50][55]

Core Insights - Itron, Inc. is collaborating with Gordian Technologies to integrate AI and machine learning into its Grid Edge Intelligence (GEI) portfolio, enhancing utilities' ability to manage energy and water more effectively [1][4] - The partnership aims to improve grid resilience, operational efficiency, and disaster management while providing affordable energy to customers [1][2] Company Overview - Itron is focused on transforming energy, water, and city services management through intelligent infrastructure solutions that enhance efficiency and resilience [6] - Gordian Technologies specializes in edge AI software, providing platforms that enable efficient machine learning and AI capabilities on resource-constrained devices [5] Technology Integration - The integration of Gordian's AI and ML technology into Itron's GEI portfolio will allow utilities to detect, analyze, and classify millions of data events in milliseconds, maximizing the value of smart infrastructure investments [2][3] - The Gordian platform will be accessible through Itron's Distributed Intelligence (DI) Developer Program, enabling developers to create applications that address various utility challenges [3][4] Benefits of Collaboration - The collaboration is expected to deliver advantages such as faster response times, lower operational costs, and decentralized automation, allowing utilities to make real-time, site-specific decisions [4][8] - The enhanced capabilities will support use cases like electric vehicle connection detection and arc flash detection, improving service delivery to customers [3][4]

Summary of Tantalus Systems Holding Conference Call Company Overview - **Company Name**: Tantalus Systems Holding - **Ticker Symbols**: GRID (Toronto Stock Exchange), TGMP.F (OTCPK) - **Location**: Vancouver metropolitan area, Canada - **Employee Count**: Approximately 150 employees across the U.S. and Canada - **Customer Base**: Supports over 325 utilities, adding about 20 new utilities annually [2][3] Industry Context - **Focus**: Technology company aiding electric utilities in modernizing the distribution grid - **Market Dynamics**: Increasing demand for electricity due to data centers, AI, and electrification of transportation, posing challenges for grid reliability [2][4] - **Regulatory Environment**: New Canadian administration initiatives may provide opportunities for expansion in Canada [4] Financial Performance - **Revenue**: Approximately $50 million on a trailing 12-month basis, with 35% from software and services and 25% from recurring revenue [5][13] - **Recurring Revenue Growth**: 20% compounded annual growth since 2016 [5] - **Adjusted EBITDA**: Positive adjusted EBITDA reported, with a historical record of 18 consecutive quarters of positive adjusted EBITDA prior to a $15 million R&D initiative [5][6] - **Gross Profit Margin**: Average gross profit margin of 54% [23] Product and Technology - **TruSense Gateway**: A new innovation aimed at enhancing grid modernization, providing granular power quality data and enabling utilities to manage demand effectively [5][12][16] - **Device Economics**: TruSense Gateway sold for approximately $550, with an annual software maintenance fee of about $11 per device [29] - **Data Utilization**: The device captures data to help utilities manage power supply and demand, enhancing operational efficiency and safety [17][21] Market Opportunities - **Utility Sector Drivers**: Three main drivers identified: increasing electricity consumption, rising power outages due to extreme weather, and a retiring workforce in the utility sector [10][11] - **Automation and Data Analytics**: Emphasis on automation to replace retiring engineers and leveraging data analytics for predictive maintenance and operational improvements [11][18] - **Long-term Growth Potential**: Significant market opportunity estimated in the billions, with a focus on scaling operations and increasing market share against larger competitors [11][28] Strategic Focus - **Retention Rate**: 99% retention rate over the last two decades, indicating strong customer loyalty [22] - **Investment in R&D**: Continued investment in R&D to drive innovation and market competitiveness [6][24] - **Management Team**: Experienced leadership team with a focus on scaling the company and enhancing operational governance [25][26] Conclusion - **Current Position**: Tantalus Systems is well-positioned to capitalize on the growing demand for grid modernization solutions, with a solid financial foundation and innovative product offerings [28] - **Future Outlook**: The company aims to achieve adjusted EBITDA margins of 15% to 17.5% as it scales operations and continues to grow its customer base [30][24]

Core Insights - Itron, Inc. has signed a definitive agreement to acquire Urbint, Inc. for $325 million, which will be funded through cash on hand, with the transaction expected to close in Q4 2025 [1][2]. Company Overview - Itron is focused on transforming the management of energy, water, and city services through intelligent infrastructure solutions that enhance efficiency, resilience, and service reliability [3]. - Urbint aims to predict and prevent incidents threatening critical infrastructure, workers, communities, and the environment using real-world data and artificial intelligence [5]. Strategic Implications - The acquisition of Urbint is part of Itron's strategy to address pressing industry issues, enhancing its offerings with AI-powered operational resilience solutions [2]. - The integration of Urbint's technology is expected to help utilities manage challenges related to aging infrastructure and extreme weather, improving response times after major weather events and protecting underground assets [2].