Itron reported $587 million in Q1 revenue, beating expectations as utilities accelerate grid-edge intelligence investments for AI infrastructure.
Itron (NASDAQ:ITRI) posted first-quarter revenue of $587 million, adjusted EBITDA of $92 million, and a backlog of $4.4 billion, exceeding analyst projections. Strong execution and ahead-of-schedule projects drove the results, the company said.
The company highlighted a structural shift among utility customers toward grid resiliency and affordability, with Outcomes revenue rising 22% year-over-year. Its Resiliency Solutions segment contributed $16 million, bolstered by acquisitions of Urbint and Locusview.
Itron’s grid-edge portfolio, including 16 million distributed-intelligence-enabled meters, supports utilities managing higher loads from data centers and electrification. The company manages over 100 million endpoints and dispatched 70 GWh of flexible load in 2025.