---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-22-000522"
form_type: "8-K"
ticker: "ITRI"
cik: "0000780571"
company_name: "ITRON, INC."
filed_at: "2022-05-02T23:59:59+00:00"
generated_at: "2026-06-26T02:16:27.403082+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Itron Q1 revenue falls 9% to $475M; GAAP EPS $0.02 vs $0.30; backlog up to $3.9B

## Summary
- Revenue $475M, down 9% YoY; gross margin 28.4%, down 380 bps due to component costs and shortages.
- GAAP net income $1M ($0.02 EPS) vs $13M ($0.30) in Q1 2021; non-GAAP EPS $0.11 vs $0.52.
- Adjusted EBITDA $19M vs $50M; free cash flow $2M vs $39M, driven by higher variable compensation.
- Total backlog $3.9B (+15% YoY); 12-month backlog $1.6B; Q1 bookings $417M.
- Device Solutions revenue -19%; Networked Solutions and Outcomes each -3% due to component constraints.

## SEC filing metadata
- accession: 0001157523-22-000522
- form_type: 8-K
- ticker: ITRI
- cik: 0000780571
- company_name: ITRON, INC.
- filed_at: 2022-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/780571/000115752322000522/0001157523-22-000522-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/780571/000115752322000522/a52702937.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-22-000522
- JSON: https://secwatch.observer/filing/0001157523-22-000522.json
- Plain text: https://secwatch.observer/filing/0001157523-22-000522.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.