Iteris(ITI) - 2024 Q3 - Earnings Call Transcript

Now I'd like to turn the call over to Iteris' President and CEO, Mr. Joe Bergera. Joe, please proceed. As a reminder, our reported net bookings are comprised of firm customer orders, meaning net bookings represent only a portion of the total value of all contracts in hand. Historically, total contract value averages about 200% of our total ending backlog. Based on this math, total contract value as of December 31, 2023 was approximately $225 million, despite the softness in third quarter net bookings. To su ...