ITURAN PRESENTS THIRD QUARTER 2025 RESULTS

Rhea-AI Summary

Ituran (NASDAQ: ITRN) reported record Q3 2025 results for the quarter ended September 30, 2025, including $92.3 million in revenue (+11% YoY) and 2,588,000 subscribers (added 40,000 net subscribers in the quarter; +219,000 YoY).

Key financials: subscription revenue $67.6M (+13% YoY), gross profit $46.4M (+16% YoY), net income $14.6M (+7% YoY; $0.74 diluted EPS), EBITDA $24.6M, and cash from operations $21.3M. Net cash including marketable securities was $93.1M.

Corporate actions: the Board declared a $10.0M quarterly dividend ($0.50 per share) and purchased $1.5M of shares under its buyback program (approximately $5.2M remaining).

Positive

• Revenue +11% YoY to $92.3M
• Subscription revenue +13% YoY to $67.6M
• Gross profit +16% YoY to $46.4M
• Subscriber base 2,588,000 (added 40,000 in Q3; +219,000 YoY)
• Net cash $93.1M (up from $77.3M at year-end 2024)
• Quarterly dividend $10.0M ($0.50 per share)

Negative

• None.

Insights

Senior Corporate Finance Analyst

Ituran delivered revenue and subscriber growth, rising profitability, and returned capital, indicating a favorable quarter.

Revenue reached $92.3 million, up 11% year‑over‑year, driven by subscription strength of $67.6 million and 40,000 net new subscribers. Subscription gross margin improved to 60.1%, supporting a higher overall gross profit of $46.4 million. EBITDA and net income rose 6% and 7%, respectively, showing operational leverage.

The company declared a $10.0 million quarterly dividend and continues buybacks with $5.2 million remaining, reflecting strong cash generation and a net cash balance of $93.1 million. Key dependencies and risks include sustaining subscriber additions and margin trends and the successful U.S. roll‑out of IturanMOB, which the company highlighted as a new growth vector. Watch subscriber growth and subscription revenue in the next four quarters and any updates on U.S. IturanMOB traction around Q4 2025 to assess whether momentum is durable.

Record revenue of $92.3 million and added 40,000 net new subscribers in the quarter

AZOUR, Israel, Nov. 18, 2025 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN) today announced its consolidated financial results for the third quarter, ended September 30, 2025.

Highlights of the Third Quarter of 2025

• Added 40,000 net subscribers in the quarter.
• Revenue of $92.3 million, an 11% increase year-over-year.
• Net income increased to $14.6 million, a 7% increase year-over-year.
• EBITDA totaled $24.6 million, a 6% increase year-over-year.
• The Board declared a quarterly dividend of $10.0 million, or $0.50 per share.

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said, "The third quarter marked a strong quarter for Ituran, in particular, we showed strong subscription revenue growth. Ituran's overall subscriber growth is being driven by our long-term efforts and success in bringing customers new value-adding telematics and connected-car products and services, as well as adding additional OEM partners to our growing roster."

Continued Mr. Sheratzky, "I am excited that during the quarter, following its success in Brazil, we have launched operations for IturanMOB in the United States. IturanMOB is our unique smart-mobility solution enabling remote vehicle access, real-time telematics and efficient fleet management for shared-mobility and rental-fleet application. We believe this creates an additional long term growth engine for Ituran with a large untapped addressable market alongside our core telematics and subscriber-based businesses."

Concluded Mr. Sheratzky, "In celebration of 20 years as a public company and 30 years as a Company, we look forward to opening the Nasdaq market on November 25 and we thank both the Nasdaq as well as our shareholders for their long-term support of our business."

Third Quarter 2025 Results

Revenues for the quarter were $92.3 million, an increase of 11% compared with $83.5 million in the third quarter of 2024. 73% of revenues were from location-based service subscription fees and 27% were from product revenues.

Revenues from subscription fees for the quarter were $67.6 million, an increase of 13% year-over-year. The subscriber base grew to 2,588,000 by the end of September 2025, marking a quarterly increase of 40,000 and a year-over-year increase of 219,000.

Product revenues for the quarter were $24.7 million, an increase of 4% year-over-year.  

Gross profit for the quarter was $46.4 million (50.3% of revenues), a 16% increase compared with $40.2 million (48.1% of revenues) in the third quarter of 2024.

Gross margin on subscription revenues was 60.1%, compared to 58.8% last year. Gross margin on product revenues was 23.6%, compared to 21.5% last year. The variance in the product gross margin between quarters reflects changes in the mix of products sold in the quarter.

Operating income for the quarter was $19.6 million (21.3% of revenues), a 7% increase compared with $18.4 million (22.0% of revenues) in the third quarter of 2024.

EBITDA for the quarter was $24.6 million (26.7% of revenues), a 6% increase compared with $23.3 million (27.9% of revenues) in the third quarter of 2024.

Net income for the quarter was $14.6 million (15.9% of revenues), or $0.74 per diluted share, an increase of 7% compared to $13.7 million (16.4% of revenues), or $0.69 per diluted share, in the third quarter of 2024.

Cash flow from operations for the quarter was $21.3 million.

On the balance sheet, as of September 30, 2025, the Company had net cash, including marketable securities, of $93.1 million, compared with $77.3 million at year-end 2024.

Dividend

The Board of Directors declared a dividend of $10.0 million for the quarter. The current dividend takes into account the Company's continuing strong profitability, ongoing positive cash flow, and strong balance sheet.

Buy Back

During the quarter, Ituran purchased $1.5 million in shares under its Buy Back program. There remains approximately $5.2 million available under the buy-back program. 

Conference Call Information

The Company will be hosting a video conference call via the Zoom platform later today, Tuesday, November 18, 2025 at 9am Eastern Time and 4pm Israel time.

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_FseStmWFR6SpOakhbm71ow https://us06web.zoom.us/webinar/register/WN_v7fBVdwwT-KnDOQ7OfgoBA

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 changes in global political, economic, business, competitive, market and regulatory factors, as well as other factors.

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 & control services for vehicles, cargo and personal security for the retail, insurance, financing industries and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to over 2.5 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran's website, at: www.ituran.com

 

Company Contact Udi Mizrahi udi_m@ituran.com  Deputy CEO & VP Finance, Ituran (Israel) +972 3 557 1348

International Investor Relations Ehud Helft ituran@ekgir.com  EK Global  Investor Relations (US) +1 212 378 8040

 

 

ITURAN LOCATION AND CONTROL LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
			US dollars
			September 30,			December 31,
(In thousands)			2025			2024
			(unaudited)
Current assets
Cash and cash equivalents			93,072			77,357
Investments in marketable securities			2			10
Accounts receivable (net of provision for credit loss)			62,059			47,688
Other current assets			49,396			46,067
Inventories			25,672			23,434
			230,201			194,556
Long-term investments and other assets
Investments in affiliated companies			494			519
Investments in other companies			1,833			1,491
Other non-current assets			5,290			5,853
Deferred income taxes			14,828			12,273
Funds in respect of employee rights upon retirement			26,495			21,823
			48,940			41,959
Property and equipment, net			39,970			33,080
Operating lease right-of-use assets, net			8,323			8,947
Intangible assets, net			8,932			9,011
Goodwill			39,690			39,325
Total assets			376,056			326,878
ITURAN LOCATION AND CONTROL LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS (cont.)
			US dollars
			September 30,			December 31,
(In thousands)			2025			2024
			(unaudited)
Current liabilities
Credit from banking institutions			-			114
Accounts payable			20,380			18,847
Deferred revenues			26,620			22,857
Other current liabilities			55,398			45,904
			102,398			87,722
Long-term liabilities
Deferred income taxes			520			418
Liability for employee rights upon retirement			32,754			27,593
Deferred revenues			14,637			12,231
Operating lease liabilities, non-current			4,852			5,562
Other non-current liabilities			2,385			2,095
			55,148			47,899
Stockholders' equity			211,997			185,227
Non-controlling interests			6,513			6,030
Total equity			218,510			191,257
Total liabilities and equity			376,056			326,878

   

 

ITURAN LOCATION AND CONTROL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
		US dollars
		Nine months period ended September 30,				Three months period ended September 30,
(in thousands, except earnings per share)		2025		2024		2025		2024
Revenues: Telematics services		(unaudited)				(unaudited)
		193,486		180,943		67,550		59,591
Telematics products		72,040		72,431		24,728		23,888
		265,526		253,374		92,278		83,479
Cost of revenues: Telematics services		79,684		75,320		26,950		24,574
Telematics products		54,477		58,550		18,903		18,748
		134,161		133,870		45,853		43,322
Gross profit		131,365		119,504		46,425		40,157
Research and development expenses		15,654		13,607		5,734		4,490
Selling and marketing expenses		13,491		11,291		4,857		4,019
General and administrative expenses		45,586		41,571		16,217		13,264
Other expenses (income), net		18		(99)		(9)		24
Operating income		56,616		53,134		19,626		18,360
Financing income (expenses), net		(1,122)		165		(340)		34
Income before income tax		55,494		53,299		19,286		18,394
Income tax expenses		(11,221)		(11,234)		(3,892)		(4,029)
Share in losses of affiliated companies, net		(31)		(301)		(13)		(179)
Net income for the period		44,242		41,764		15,381		14,186
Less: net income attributable to non-controlling interest		(1,552)		(1,948)		(736)		(533)
Net income attributable to the company		42,690		39,816		14,645		13,653
Basic and diluted earnings per share attributable to company's stockholders		2.15		2.00		0.74		0.69
Basic and diluted weighted average number of shares outstanding		19,892		19,894		19,889		19,894

 

 

 

ITURAN LOCATION AND CONTROL LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
						US dollars
						Nine months period ended September 30,				Three months period ended September 30,
(in thousands)						2025		2024		2025			2024
						(unaudited)				(unaudited)
Cash flows from operating activities
Net income for the period						44,242		41,764		15,381			14,186
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization						14,240		15,586		5,010			4,935
Loss in respect of trading marketable securities and other investments						8		85		-			50
Increase in liability for employee rights upon retirement						2,134		2,245		512			565
Share in losses of affiliated companies, net						31		301		13			179
Deferred income taxes						(891)		(1,340)		(504)			(104)
Capital loss on sale of property and equipment, net						99		14		10			109
Decrease (increase) in accounts receivable						(8,458)		(4,792)		(767)			1,752
Decrease (increase) in other current and non-current assets						6,203		(5,328)		1,403			(957)
Decrease (increase) in inventories						(911)		2,591		(853)			1,062
Decrease in accounts payable						(812)		(2,382)		(688)			(4,198)
Increase (decrease) in deferred revenues						2,315		186		961			(186)
Increase (decrease) in other current and non-current liabilities						1,028		2,645		865			(158)
Net cash provided by operating activities						59,228		51,575		21,343			17,235
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement, net of withdrawals						(2,322)		(2,337)		(1,470)			(822)
Capital expenditures						(17,169)		(9,144)		(5,295)			(2,835)
Return from (investments in) affiliated and other companies, net						(49)		(2)		61			(59)
Repayment of (Investment in) long-term deposit						35		(81)		58			(104)
Proceeds from sale of property and equipment						564		389		110			96
Net cash used in investment activities						(18,941)		(11,175)		(6,536)			(3,724)
Cash flows from financing activities
Short term credit from banking institutions						(114)		(384)		-			(53)
Acquisition of company shares						(1,475)		-		(1,475)			-
Dividend paid						(27,652)		(20,291)		(9,947)			(7,758)
Dividend paid to non-controlling interests						(1,677)		(3,261)		-			(1,631)
Net cash used in financing activities						(30,918)		(23,936)		(11,442)			(9,442)
Effect of exchange rate changes on cash and cash equivalents						6,346		(2,433)		952			186
Net change in cash and cash equivalents						15,715		14,031		4,337			4,255
Balance of cash and cash equivalents at beginning of period						77,357		53,434		88,735			63,210
Balance of cash and cash equivalents at end of period						93,072		67,465		93,072			67,465

 

 

 

Supplementary information on financing activities not involving cash flows:

In August 2025, the Company declared a dividend in an amount of US$10 million. The dividend was paid in October 2025.

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SOURCE Ituran Location and Control Ltd.

FAQ

What did Ituran (ITRN) report for Q3 2025 revenue and subscriber growth?

Ituran reported $92.3M revenue in Q3 2025 (up 11% YoY) and added 40,000 net subscribers, bringing the base to 2,588,000.

How much dividend did Ituran (ITRN) declare for Q3 2025 and when was it announced?

The Board declared a $10.0M quarterly dividend, equal to $0.50 per share, announced November 18, 2025.

What were Ituran's Q3 2025 subscription revenues and gross margin?

Subscription revenues were $67.6M in Q3 2025 (up 13% YoY) with a subscription gross margin of 60.1%.

How strong is Ituran's balance sheet after Q3 2025 results (ITRN)?

As of September 30, 2025, Ituran reported $93.1M net cash including marketable securities, up from $77.3M at year-end 2024.

Did Ituran (ITRN) repurchase shares in Q3 2025 and how much remains under the program?

During the quarter Ituran repurchased $1.5M of shares and reported approximately $5.2M remaining under its buyback program.