ITURAN PRESENTS FOURTH QUARTER & FULL YEAR 2025 RESULTS
Rhea-AI Summary
Ituran (NASDAQ: ITRN) reported record 2025 results with $359.0 million revenue, $96.2 million EBITDA and net income of $58.0 million. Subscriber base reached 2,630,000 (+221,000 net in 2025). Year-end net cash and marketable securities were $107.6 million.
In Q4 2025 revenue was $93.5 million, EBITDA $25.3 million, and net income $15.3 million. The Board declared a $30 million Q4 dividend and authorized a $10 million buy-back increase.
Positive
- Record full-year revenue of $359.0 million
- Record subscriber base of 2,630,000 (221,000 net adds in 2025)
- Year-end net cash and marketable securities of $107.6 million
- Board declared $30 million Q4 dividend and authorized $10 million buy-back
Negative
- Dividends for 2025 approximate 100% of net income
- Share repurchases and special dividend reduce available cash reserves
Market Reaction – ITRN
Following this news, ITRN has gained 6.78%, reflecting a notable positive market reaction. Our momentum scanner has triggered 6 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $49.00. This price movement has added approximately $62M to the company's valuation.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
ITRN gained 0.83% with several peers also up: FARO +0.43%, KNW +0.47%, MLAB +0.29%, while VPG -3.19% and MVIS -3.28% declined. Scanner data flags 2 peers in downside momentum (median about -2.4%), suggesting mixed but notable sector influences around this earnings release.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 18 | Q3 2025 earnings | Positive | -0.6% | Record Q3 2025 revenue, subscriber growth, dividend and buyback activity. |
| Aug 19 | Q2 2025 earnings | Positive | -9.8% | Record Q2 revenue with solid net income and growing subscription fees. |
| May 28 | Q1 2025 earnings | Positive | -4.8% | Strong Q1 results with record net subscriber adds above 2.5M base. |
| Feb 26 | FY & Q4 2024 | Positive | +9.3% | Record 2024 revenue, raised 2025 subscriber outlook and dividend policy. |
| Nov 21 | Q3 2024 earnings | Positive | +4.5% | Q3 2024 revenue and earnings growth with higher dividend and guidance. |
Earnings releases have often been positive fundamentally but produced mixed share reactions, with 3 of the last 5 same-tag events seeing negative next-day moves despite upbeat metrics.
Over the past five earnings cycles, Ituran has consistently reported subscriber growth, record or strong revenues, and regular dividends. Events from Nov 2024 through Nov 2025 show rising revenue, net income, and EBITDA, alongside dividend increases and active buybacks. Price reactions have been mixed, with some strong gains (e.g., Q4 2024) and several modest declines after otherwise positive results. Today’s full-year 2025 report continues that theme of record financials, subscriber expansion, and shareholder returns.
Historical Comparison
In the last five earnings releases, average next‑day move was -0.26%, with several declines despite strong fundamentals, framing today’s record 2025 results within a pattern of cautious price responses.
Earnings updates from late 2024 through 2025 show steady revenue growth, expanding subscriber base beyond 2.5M, rising net income and EBITDA, and progressively larger dividends and buybacks, culminating in today’s record full-year 2025 results and enhanced capital returns.
Market Pulse Summary
The stock is up +6.8% following this news. A strong positive reaction aligns with the company’s record 2025 performance, including revenue of $359.0 million, net income of $58.0 million, and EBITDA of $96.2 million. Investors also saw substantial capital returns via $60 million in dividends and an expanded buyback. Historically, earnings moves averaged only -0.26%, so a sizable gain could reflect renewed appreciation for consistent growth and cash generation, but past patterns show reactions have sometimes faded after initial enthusiasm.
Key Terms
ebitda financial
operating cash flow financial
net cash financial
dividend policy financial
sec rule 10b-18 regulatory
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
Record revenue and EBITDA driven by strong 2025 subscribers-adds;
Significant dividend totaling
AZOUR,
Highlights of Full Year 2025
- 2,630,000 subscribers at year-end, adding 221,000, net during the year.
- Record financial metrics across the board with revenue at
$359.0 million 7% year-over-year. - Net income of
$58.0 million 8% year-over-year. - EBITDA of
$96.2 million 5% year-over-year. - Record full year operating cash flow of
$88.6 million - Year-end net cash position and marketable securities of
$107.6 million - Returns to shareholders: declared a total of
$60 million
Highlights of the Fourth Quarter of 2025
- Added a net 42,000 subscribers in the quarter.
- Revenue of
$93.5 million 13% year-over-year. - Strong gross margins: overall gross margin of
50.5% , with subscription gross margin at59.5% . - Net income increased to
$15.3 million 10% year-over-year. - EBITDA grew to
$25.3 million 12% increase year-over-year. - Record quarterly operating cash flow of
$29.4 million - The Board declared a special dividend of
$20 million $10 million $30 million $1.6 million $10 million
Management Comment
Eyal Sheratzky, Co-CEO of Ituran, said, "2025 was a record year for Ituran marked by ongoing growth and continued improvements in profitability. We continued to add new subscribers at a high rate, bringing in 42,000 during the fourth quarter, leading to a record year of 221,000 net subscriber-adds, which includes those gained through our OEM deal with Stellantis at the start of 2025. Looking ahead, we expect to maintain our subscriber-add rate at 160,000-180,000 for 2026. The growth is driven by our long-term efforts in bringing customers new value-adding telematics and connected-car products and services."
Mr. Sheratzky continued, "Given our success and strong cash generation, we announced a special dividend of
Mr. Sheratzky added, "2026 started with strong momentum in our strategic partnerships. We are continuously working to add new partners to our growing OEM roster to drive further growth in our subscriber base. We recently announced a new agreement with Stellantis to launch the 'Connect Fiat' project in
Concluded Mr. Sheratzky, "After several years of investment in developing new offerings and services that significantly expand our total addressable market, we expect to begin seeing the returns on these investments in 2026. In addition to
Fourth Quarter 2025 Results
Revenues for the fourth quarter of 2025 were
Revenues from subscription fees were
The subscriber base expanded to 2,630,000 by the end of December 2025, marking an increase of 42,000 from the previous quarter.
Product revenues were
Gross profit for the quarter was
The gross margin in the quarter on subscription revenues was
Operating income for the quarter was
EBITDA for the quarter was
Net income for the fourth quarter of 2025 was
Cash flow from operations for the fourth quarter of 2025 was
Full Year 2025 Results
Revenues for 2025 were a record
Revenues from subscription fees were
Product revenues were
Gross profit for the year was
Operating profit for 2025 was
EBITDA for 2025 was
Net income in 2025 was
Cash flow from operations for the year was
On the balance sheet, as of December 31, 2025, the Company had net cash, including marketable securities, of
Buy Back
During the quarter
The Board of Directors authorized a new
Dividend
The Board of Directors declared a total dividend of
The current dividend takes into account the Company's continuing strong profitability, ongoing positive cash flow and strong balance sheet.
The Company will also be hosting a video conference call via the Zoom platform later today, Thursday, March 5, 2026 at 9am Eastern Time and 4pm
On the call, management will review and discuss the results and will be available to answer investor questions.
To participate in the Zoom call, please register at the following link:
https://us06web.zoom.us/webinar/register/WN_hiXNOoC0TmePKQkUTrz0GA
For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran's website.
Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended. These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to, but not limited to, changes in global political, economic, business, competitive, market and regulatory factors. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumption that may cause our actual results materially from the expectations that we describe in our forward-looking statements. We disclaim any obligation to update forward-looking statements, even if our assumptions and projections change, except where applicable law may otherwise require us to do so.
About Ituran
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management and control services for vehicles, cargo and personal security for the retail, insurance and financing industries, as well as car manufacturers. Ituran is the largest OEM telematics provider in
Ituran's subscriber base has been growing significantly since the Company's inception to over 2.6 million subscribers using its location-based services with a market-leading position in
For more information, please visit Ituran's website, at: www.ituran.com
Company Contact Udi Mizrahi Deputy CEO & VP Finance, Ituran ( | International Investor Relations Ehud Helft EK Global Investor Relations (US) +1 212 378 8040 |
ITURAN LOCATION AND CONTROL LTD. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
US dollars | ||||||||
December 31, | ||||||||
(In thousands) | 2025 | 2024 | ||||||
Current assets | ||||||||
Cash and cash equivalents | 107,551 | 77,357 | ||||||
Investments in marketable securities | 3 | 10 | ||||||
Accounts receivable (net of provision for credit loss) | 58,517 | 47,688 | ||||||
Other current assets | 48,360 | 46,067 | ||||||
Inventories | 23,213 | 23,434 | ||||||
237,644 | 194,556 | |||||||
Long-term investments and other assets | ||||||||
Investments in affiliated companies | 517 | 519 | ||||||
Investments in other companies | 1,542 | 1,491 | ||||||
Other non-current assets | 5,413 | 5,853 | ||||||
Deferred income taxes | 15,684 | 12,273 | ||||||
Funds in respect of employee rights upon retirement | 28,480 | 21,823 | ||||||
51,636 | 41,959 | |||||||
Property and equipment, net | 39,386 | 33,080 | ||||||
Operating lease right-of-use assets, net | 8,878 | 8,947 | ||||||
Intangible assets, net | 8,839 | 9,011 | ||||||
Goodwill | 39,831 | 39,325 | ||||||
Total assets | 386,214 | 326,878 | ||||||
ITURAN LOCATION AND CONTROL LTD. | ||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (cont.) | ||||||||
US dollars | ||||||||
December 31, | ||||||||
(In thousands) | 2025 | 2024 | ||||||
Current liabilities | ||||||||
Credit from banking institutions | - | 114 | ||||||
Accounts payable | 19,082 | 18,847 | ||||||
Deferred revenues | 27,206 | 22,857 | ||||||
Other current liabilities | 57,817 | 45,904 | ||||||
104,105 | 87,722 | |||||||
Long-term liabilities | ||||||||
Deferred income taxes | 531 | 418 | ||||||
Liability for employee rights upon retirement | 35,080 | 27,593 | ||||||
Deferred revenues | 14,876 | 12,231 | ||||||
Operating lease liabilities, non-current | 4,745 | 5,562 | ||||||
Other non-current liabilities | 2,391 | 2,095 | ||||||
57,623 | 47,899 | |||||||
Stockholders' equity | 217,564 | 185,227 | ||||||
Non-controlling interests | 6,922 | 6,030 | ||||||
Total equity | 224,486 | 191,257 | ||||||
Total liabilities and equity | 386,214 | 326,878 | ||||||
ITURAN LOCATION AND CONTROL LTD. CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||
US dollars | ||||||||||||
Year ended | Three months period | |||||||||||
(in thousands, except share data) | 2025 | 2024 | 2025 | 2024 | ||||||||
Revenues: Telematics services | (unaudited) | |||||||||||
264,559 | 242,491 | 71,073 | 61,548 | |||||||||
Telematics products | 94,464 | 93,766 | 22,424 | 21,335 | ||||||||
359,023 | 336,257 | 93,497 | 82,883 | |||||||||
Cost of revenues: Telematics services | 108,451 | 100,195 | 28,767 | 24,875 | ||||||||
Telematics products | 71,995 | 75,442 | 17,518 | 16,892 | ||||||||
180,446 | 175,637 | 46,285 | 41,767 | |||||||||
Gross profit | 178,577 | 160,620 | 47,212 | 41,116 | ||||||||
Research and development expenses | 20,806 | 18,090 | 5,152 | 4,483 | ||||||||
Selling and marketing expenses | 18,378 | 15,271 | 4,887 | 3,980 | ||||||||
General and administrative expenses | 62,456 | 56,238 | 16,870 | 14,667 | ||||||||
Other income, net | (91) | (148) | (109) | (49) | ||||||||
Operating income | 77,028 | 71,169 | 20,412 | 18,035 | ||||||||
Other non-operating expenses | (272) | - | (272) | - | ||||||||
Financing income (expenses), net | (1,854) | 80 | (732) | (85) | ||||||||
Income before income tax | 74,902 | 71,249 | 19,408 | 17,950 | ||||||||
Income tax expenses | (14,899) | (14,579) | (3,678) | (3,345) | ||||||||
Share in profit (losses) of affiliated companies, net | (5) | (123) | 26 | 178 | ||||||||
Net income for the period | 59,998 | 56,547 | 15,756 | 14,783 | ||||||||
Less: net income attributable to non-controlling interest | (2,031) | (2,893) | (479) | (945) | ||||||||
Net income attributable to the company | 57,967 | 53,654 | 15,277 | 13,838 | ||||||||
Basic and diluted earnings per share attributable to | 2.92 | 2.70 | 0.77 | 0.70 | ||||||||
Basic and diluted weighted average number of shares | 19,874 | 19,894 | 19,840 | 19,894 | ||||||||
ITURAN LOCATION AND CONTROL LTD. | |||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
US dollars | |||||||||||||||
Year ended | Three months period | ||||||||||||||
(in thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
(unaudited) | |||||||||||||||
Cash flows from operating activities | |||||||||||||||
Net income for the period | 59,998 | 56,547 | 15,756 | 14,783 | |||||||||||
Adjustments to reconcile net income to net cash from operating | |||||||||||||||
Depreciation and amortization | 19,170 | 20,083 | 4,930 | 4,497 | |||||||||||
Loss in respect of trading marketable securities and other | 8 | 107 | - | 22 | |||||||||||
Increase in liability for employee rights upon retirement | 3,298 | 3,199 | 1,164 | 954 | |||||||||||
Share in losses (profit) of affiliated and other companies, net | 277 | 123 | 246 | (178) | |||||||||||
Deferred income taxes | (1,607) | (383) | (716) | 958 | |||||||||||
Capital loss (gain) on sale of property and equipment, net | 27 | 128 | (72) | 114 | |||||||||||
Decrease (increase) in accounts receivable | (3,728) | (5,227) | 4,730 | (435) | |||||||||||
Decrease (increase) in other current and non-current assets | 6,843 | (6,498) | 640 | (1,170) | |||||||||||
Decrease in inventories | 2,614 | 3,366 | 3,525 | 776 | |||||||||||
Increase (decrease) in accounts payable | (2,136) | 176 | (1,324) | 2,558 | |||||||||||
Increase (decrease) in deferred revenues | 2,235 | (804) | (80) | (990) | |||||||||||
Increase in other current and non-current liabilities | 1,579 | 3,450 | 551 | 803 | |||||||||||
Net cash provided by operating activities | 88,578 | 74,267 | 29,350 | 22,692 | |||||||||||
Cash flows from investment activities | |||||||||||||||
Increase in funds in respect of employee rights upon retirement, | (3,324) | (3,353) | (1,002) | (1,016) | |||||||||||
Capital expenditures | (21,776) | (13,632) | (4,607) | (4,488) | |||||||||||
Return from (investments in) affiliated and other companies, net | (38) | 708 | 11 | 710 | |||||||||||
Repayment of (Investments in) long-term deposit | 57 | (122) | 22 | (41) | |||||||||||
Proceeds from sale of property and equipment | 901 | 459 | 337 | 70 | |||||||||||
Net cash used in investment activities | (24,180) | (15,940) | (5,239) | (4,765) | |||||||||||
Cash flows from financing activities | |||||||||||||||
Short term credit from banking institutions | (114) | (433) | - | (49) | |||||||||||
Acquisition of company shares | (3,100) | - | (1,625) | - | |||||||||||
Dividend paid | (37,585) | (28,050) | (9,933) | (7,759) | |||||||||||
Dividend paid to non-controlling interests | (1,908) | (3,286) | (231) | (25) | |||||||||||
Net cash used in financing activities | (42,707) | (31,769) | (11,789) | (7,833) | |||||||||||
Effect of exchange rate changes on cash and cash equivalents | 8,503 | (2,635) | 2,157 | (202) | |||||||||||
Net change in cash and cash equivalents | 30,194 | 23,923 | 14,479 | 9,892 | |||||||||||
Balance of cash and cash equivalents at beginning of period | 77,357 | 53,434 | 93,072 | 67,465 | |||||||||||
Balance of cash and cash equivalents at end of period | 107,551 | 77,357 | 107,551 | 77,357 | |||||||||||
Supplementary information on financing activities not involving cash flows:
In November 2025, the Company declared a dividend in an amount of
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SOURCE Ituran Location and Control Ltd.
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