Itron Investor Presentation
CONSOLIDATED NON-GAAP & CASH RESULTS: Q4'22
$ in millions (except per share amounts)
Q4 2022
Q4 2021
Change
Non-GAAP operating income (loss)
$25.3
($6.6)
484%
Non-GAAP operating margin
5.4%
(1.4%)
680 bps
Non-GAAP net income attributable to Itron, Inc.
$32.2
$34.1
-6%
Adjusted EBITDA
$34.4
$3.2
NM
Adjusted EBITDA margin
7.4%
0.7%
670 bps
Non-GAAP earnings per share - diluted
$0.71
$0.75
-5%
Net cash (used in) provided by operating activities
($13.0)
$13.6
NM
Free cash flow
($17.9)
$6.7
NM
» Increase in Non-GAAP operating income due to fall through of higher gross profit and lower opex
>> Non-GAAP net income decreased due to a prior year tax benefit from the impact of certain transfers of business
activities and assets, partially offset by higher non-GAAP operating income
>> Free cash flow decreased due to working capital outflow, partially offset by higher non-GAAP EBITDA
Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website.
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ITRI Itron Investor Presentation - February 2023
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