Itron Investor Presentation
CONSOLIDATED NON-GAAP & CASH RESULTS: FY'22
$ in millions (except per share amounts)
FY 2022
FY 2021
Change
Non-GAAP operating income
$58.4
$75.6
-23%
Non-GAAP operating margin
3.3%
3.8%
-50 bps
Adjusted EBITDA
$95.1
$115.2
-17%
Adjusted EBITDA margin
5.3%
5.8%
-50 bps
Non-GAAP net income attributable to Itron, Inc.
$51.0
$78.1
-35%
Non-GAAP earnings per share - diluted
$1.13
$1.75
-35%
Net cash provided by operating activities
$24.5
$154.8
-84%
Free cash flow
$4.8
$120.1
-96%
» Decrease in Non-GAAP operating income due to fall through of lower gross profit, partially offset by lower non-GAAP opex
>> Non-GAAP net income decreased due to lower non-GAAP operating income and higher non-GAAP income tax
>> Free cash flow decreased due to higher working capital usage, higher variable compensation payments, and lower non-
GAAP EBITDA, partially offset by lower capex
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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