Earnings call transcript Q1 2024

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Operator

Good day, and welcome to the Iteris's Fiscal First Quarter 2024 Financial Results Conference Call. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation. Please note this event is being recorded.

I would now like to turn the conference over to Todd Kehrli of MKR Investor Relations. Please go ahead.

Todd Kehrli

operator. you, Thank everyone. Good afternoon, you discuss for first conference thank in ended participating financial results to Iteris's XXXX XX, call for June And XXXX. today's its quarter fiscal

are Kerry Shiba. Joe today, Joining CEO President company's Mr. the Mr. us CFO, Bergera, Iteris's and and

analysts. we'll were sell-side release submitted the company advance we the to companies remarks, questions call the investor XXXX. XX, of instructions July press the the dated open Following will in for for answer call from covering Then that our the questions in

and SEC, Iteris these to those risk discussed undertaking assume from today, recent that we update differ we'd the during specifically on based are to most the or company, provide statements XX-k make you regarding Before continue, all does which contained in actual forward-looking today substantially Iteris Forms time-to-time the are obligation subject important Actual change future that not the like and participants contain will differ valid. files are statements. the from and identify comments events from this to factors date, are to forward-looking an later refers results XX-Q company be no with to company's current documents and at cause of to that information future still the a one company's the not the could from should that X-K, results materially forward-looking in remind of statements any may future. guarantees future is performance call, may we which what performance. statements of

company's www.iteris.com. Investor replay of section find a of call today's As webcast on always, the website the you'll

CEO, Bergera to Iteris's President like please Mr. over to proceed. I'd turn call Now Joe Sir, the and

Joe Bergera

you Thank us you, today. joining of I afternoon all Todd. everyone. Great. to appreciate good And

of high been which on record key of And had representing $XX.X products and attributed to to strong a demand increase services. fiscal total consulting quarter, rate the revenue million we milestones. subcontractor growth year-over-year. had an projects first delayed reported XX% for achieved of level our our revenue due XXXX in deliverables of also We Iteris some dependencies

our until these XXXX were expecting fiscal be not second call, milestones achieve revenue able to last of to our As half. these earnings we subcontractors

rose XXXX first and on a prior basis quarter points now fiscal the Our behind basis, gross high XXX our margins purchase associated year-over-year variance demonstrating XXX points basis price a supply that sequential on with issues chain us. are basis

representing adjusted of margin focus detail. our $X.X of a million, minutes, the million dynamics profitability improvement Kerry operating year-over-year. a In EBITDA gross and improvement a continued reported we more on address As in $X.X record result efficiency, our will few

of the ClearMobility strong. reported In we with results, year-over-year. increase strong of year-over-year. $XX.X a adoption ending bookings Customer million increase total of XX% remains representing quarter, fiscal a an bookings to June XXXX record net $XXX.X representing Due ended million, XX% we record period, the very XXXX backlog our of platform first XX, total

varies bookings our orders total total from of value. about contract XXX% quarter-to-quarter, reflect contract total customer always, and which than on rather backlog basis The net value, backlog. ending As historical averages an figures ending firm our

convert in which of since portion, within a period-to-period our keep our to Also quarter. sensor orders from backlog single that varies these mind bookings a often excludes shipments

portfolio. some about details of this share the point, to performance like I'd product At our

resulting limited was both is year's as first reported comparison impacted XX% strong XXXX from commercial issues. prior increase and referred availability component to collectively fiscal quarter last sensors million, solid a we comparison which continued hardware, supply due products, revenue year-over-year execution year year-over-year. soft representing of chain $XX.X our and to For The third-party are that by relatively

up still to prior the performance at prior product period. basis revenue XX-month look year on to for trailing is adjust the compared you XX%, comparison, same a As product

Given our average is the times take to continue in categories range the growth. of significant for to associated of market X%, average rate X% four historical more weighted sensors the than growth the market market rate share growing

make share Additionally, key to Vantage progress attaching intersection CV include that teams sensors. recurring detection commercial Vector to CVXX modernization [ph] and our against including adjacent and winning leveraging our large-scale categories, a of solid to emerging Inspector leadership penetrate priorities the continue category commercial annual our initiatives, cellular revenue disproportionate

Vantage of sold, Iteris. XXXX represents units In another which attached record the revenue to annual first fiscal recurring quarter, Next we XX% for sensor

software-as-a-service record consulting to want our various data-as-a-service quarter, I revenue performance which XXXX increase reported managed fiscal offerings. $XX.X the service, and We XX% review in first of our representing service, service of includes year-over-year. our Now, a services portfolio, million

growth this as with to well of As previously projects delayed as which demand, occurred strong completion some attributable is ahead revised earlier, noted dependencies, subcontractor continued date. the consulting

last some During experienced in due we on also our fiscal XXXX we first quarter's to call. labor that earnings improvement quarter, discussed our the initiatives internal capacity

and impact a benefits labor nominal margin the additional pace to revenue, quarters. still in improvement the to only future expect While both capacity additional first had from realize on capacity revenue gross we of quarter difficult is and predict, labor

service of service first fiscal representing a that offerings of In increase recognized be bookings revenue. of in recurring the our will for to $XX.X to quarter levels. continues year our service as demand period. hit million prior our record XXXX bookings estimate We future roughly first or level net the same we reported XX% annual $XX.X quarter, XX% The relative new net million

private to a the almost provide task more data-as-a-service a dollar of services a task in In high $XX service task agreement four-year confidential order included, San quarter, traffic combined an $X.X with to City with bookings of Metropolitan million and California, value plan; managed the Department a $X $X.X entity; total agreements develop a provide Virginia implement toll vehicle to with media for order million monitoring. the software $X.X Area million first Francisco to task Linda, occupancy than operate sector Commission; orders notable ClearData lanes Transportation; provide hosted the a data-as-a-service orders and related Yorba million ClearData managed a services Bay of Transportation provides company; network combined million services City in the of cord smart for undisclosed a more million Mateo, and California to and San cloud-enabled signal synchronization or $X

strong customer our adoption we introduce To ClearMobility platform, and sustain of solutions continue to enhancements. feature new important

as the data For example, a signal ClearGuide as time of and transit presentation first features in the generation new system, collection Signals. in connected quarter, alpha travel version released we well prioritization vehicle next and

revenue, very and bookings record EBITDA, In are pleased summary, record with record fiscal we adjusted XXXX backlog. net record first quarter our ending

progress continues associated model in to in with end similar trying progress and a of strategy. a platform-based other we collaboration, significant growth. believe fragmentation scalability, to high evolving complexity our light pursue solution Iteris very companies Additionally, degree we believe and business notable of to this the is improvements and both to repeatability, market, demonstrate superior In

on So financial note, I'm the I'll mic after expectations come pass our back and to which second more our that XXXX discuss provide the first further going full Karry, quarter and to on results, year. to fiscal color quarter for

Kerry Shiba

want already everyone. afternoon progress. Joe. described I And Thanks, commercial good avoid repetitive. to our Joe being to And

value in underscore that record our and market all backlog which both to of bookings, of nominal strength want our growth reflected and levels. I the is revenue, the were rate of However, in at

especially ratio shape the view the is revenue last revenues. year, also year, occurring shortages in revenue. by was of when degree reflected of our that mind compared in loading keep in half of company of back-end which to fiscal XXXX This compared curve progress to the that supply resulted first revenue when impacted you Also, in total of products a

of quarter to year, up address is approximately discuss first he QX revenue, guidance. when this this revenue XX% versus the last in year. of In total point -- again going only his of total was company XX% products Joe in later total

worse, related Moving component the in fiscal which the of XXXX, to largely gross and sheet statement. expense like profit the the In quarter to fiscal down the that commentary income provided, our of the was about the dynamics profit expand chain on we experienced impact from statement $X.X on $X.X income the quarter Joe incurred electronics purchase million particularly flushed 'XX, costs first aftermarket price line, semiconductors fiscal balance the would purchases of variance supply have negative performance. demonstrating to I XXXX, of the first gross $XXX,XXX to from million of through high components, we than other in some

fiscal give apex in of of million coming negative XXXX the as To on of sense year, $X.X was the price door reaching fiscal escalated market QX a you further state XXXX the dramatically, last of at $X.X million, incurred variance. shortages of its part negative QX in in the variance supplier purchases price

the in me, excuse parts pattern XXXX. sensor to of I As first fiscal revenue constrains reflect noted, this shortages tends half just the that degree of also

bolstered X.X%. $X.X From prior million increases gross falling fiscal low was first overall, sensor by down gross improved $XXX,XXX benefit quarter XXXX about volume implemented the and consolidated increased or slightly Products gross growth, product XX%. a year. cost XXX%, last of the primarily profit price profit significant Services unit perspective, year-over-year profit by about or

indicated, very in the margin. the was As quarter of little first driven much Joe revenue associated which of increase expenses, carry subcontractor by this year

drivers XXX due previous costs. behind XXX the mix comments products, profit. my for year impact issues regarding are higher a overall improved more will the third-party Products higher now than basis cost revenue of to Aggregate high point services which product points, gross the a profit carry that gross the decline the of the are gross basis reflected believe offset change aggregate, by improvement for overall point supply gross chain driven in profit typically principal than last basis us. margin and X,XXX I of

margin The positive the improve, trend of reflect to first negative purchase in lower to product costs of due XXX impact increasing sensor quarter overall price price this of the variance drivers and sensor basis increases. The gross year. sequential continues lower improvement points principal this also

the current incurred in last X% lower to we restructuring period were aggregate costs first expenses in compared year, when quarter, the about prior that year year. same in $XXX,XXX in reflecting the Operating

restructuring operating $XXX,XXX expenses approximately Excluding X% up costs, the or prior year's nominally.

points of the costs operating X.X as XX.X However, percentage were points percentage year declined percentage the of revenue, and a in excluding restructuring reported, down current year. as impact expenses prior

functional reorganization to aware, by structure, recategorized being in at end and year. focused the first of the quarter from implemented and resulted base beginning The about established which expense comparisons QX a costs sales last a year. affected are marketing move are line $XXX,XXX the last reorganization of quarter you in more cost of G&A So year-over-year of item fundamentally for

numerous result, As the significant wage a at inflation and would year-to-year driving it's to look be in cost pluses cost most with increase detail. The item the changes minuses more broadly. other more straightforward overall occurring

EBITDA. to discussed the just profit income adjusted and expense, gross operating comparisons net factors in revenue, explain income, major related The operating and fundamentally

$X.X of improvement delivered in we EBITDA, in QX million and adjusted $X.X quarter last of began improvement further year. million a year-over-year that the a sequential represents trend which sequential $X.X For million underscores The first XXXX, of improvement. the

end the at was income year. last of higher sequentially, cash the $X.X and These the at the management. sheet was higher continued reflect first above Total time which $XX quarter combination the improvements balance balance to of million and same $X.X million strong million,

balance can While always earnings be the around improvement going provide continued for good future sheet cutoffs, and cash improvement, in trajectory affected forward. sheet the management foundation short balance liquidity term

turn I discuss and guidance will call XXXX Joe, closing now provide to who fiscal comments. over the will back our

Joe Bergera

you, infrastructure and fragmented, highly is management Kerry. complex. Thank smart The market mobility is Super.

historic committed and significant to trends been Congress it that's XXXX. secular funding However, represents opportunities federal long-term by due through favorable

front is switching customer given the extremely our costs the optimistic the established about stickiness, long-term breadth characterized brand Therefore, high we platform, benefiting of companies. of and market customer reach, in remain equity and Iteris. opportunity Additionally, by

presentation Vantage and includes fiscal identify, Iteris vehicle Fusion streamline state sensor API's; Vantage following which among to Cloud; continue vehicle that will solutions and application accelerate portfolio and other balance International would our new certain Fuel in Over a of our by ClearMobility vehicles, datasets a sensor data an the our industry valuable the planning, collection Tax major for of releases: which next and strategy, that intelligence line, Apex the the for the introduction System against data generation and connected suite XXXX, transportation registration capture connected deliver features verify includes predict of vehicle commercial applications aggressive events. powered a of international to of Cloud benefits Administration will roadmap ClearMobility artificial connected system cloud-based

total drive bookings, mobility rate to the above penetration ClearMobility further our We our sustain market in expect and customer plan fiscal to release the and the XXXX platform, individual as bookings. size our continue of growth benefits, of datasets. of other these improve increase monetization our adoption of well Among should dynamics average increase expanding as

remind to one do quarter-to-quarter. this I large trend, Given may orders or everyone, some two timing bookings from cause the of lumpiness that want

will including key addition In of network, maturity the portfolio, distributor solutions the our of focus to the consulting pursue success of labor to customer capacity productivity internal teams. on our continue our our operational function, priorities, and

outlined capacity. the improvement have As tactics produced a labor a call on earnings our reminder, measurable internal in our already prior

want I our Next, to address guidance.

progress quarter product and the first significant of initiatives. results demonstrate our Our operational roadmap

However, want dynamics I also emphasize on. to that touched two important Kerry

half the occur our not mentioned XXXX forward fiscal product year second half half was of some prior does of reflect moved our fiscal since quarter. issues XXXX And the First, supply fiscal second to earlier, the the first push second, revenue revenue service anticipated in first in curve I seasonality, as shipments that normal year. into some chain into

our adjusted the time, an the range And range million XX% guidance revenue at X% fiscal million. of $XX X% $XXX to XXXX in to EBITDA maintaining XXXX we of are revenue organic fiscal at are flow million this of $XX guidance our and margin in million representing Therefore, XXXX cash the the maintaining range net fiscal of to in of $XXX we for growth midpoint.

quarter. revenue into $XX growth deployment For similar basis. guidance. forward at midpoint reasons, some of the accounts first million in moving our range total $XX we're That also X% million is This providing to the quarter second represent of revenue revenue and for a on revenue year-over-year and customers' recognition guidance

second represent We're for to EBITDA also quarter guidance X%, in of to which a X% significant adjusted the year-over-year continues improvement. range providing

fiscal and first guidance first and combined quarter strong adjusted XXXX revenue point results Our the quarter second a EBITDA half. to very

believe of additional million revenue we revenue $XXX range XXXX, our XXXX fiscal to midpoint. before to In $XXX representing fiscal the any remains at we XX% achieve continue CAGR on other beyond targets. track a of Vision Looking words, Iteris to estimate in organic the acquisitions, million five-year XXXX

EBITDA With increase result a course anticipate to our progressive to adjusted And XXXX from to additive in targets. Iteris range additionally, in in anticipate improvements acquisition the margins liquidity revenue, program, resume we organic of annual in scale be to we Vision substantial enable XXXX which XX% our benefits to of our XX%. fiscal would

and delighted questions at Operator, to with we'd respond do So we'll conclude have that, our to any And questions we prepared remarks. any be point? comments. this

Operator

do. we Yes,

is first opening Markets. are questions. question coming up Latimore Instructions] We for [Operator from floor is Mike Okay, Northland in our the of live. Capital Mike, your line

Mike Latimore

Hey, records Congrats you. thank on the here. all

wins data-as-a-service were the So interesting.

like might confidential maybe But case use there, and you Sounds pipeline just more can for customers. a the give little the on data-as-a-service? also they be clarity

Joe Bergera

because provide cases Yeah. it's unfortunately, the commentary the to of much hard confidentiality the use too Mike, agreements. on of

to lot sector I'm any on find those curated contracts that we various However, a see mobility particular able entities I in unique, say sector obviously time. this dataset. liberty really highly But a both would entities, public have And, unfortunately, data. at not of private and that value additional

Mike Latimore

above gross the it imagine pretty there. good below or margins I'd corporate? Is

Joe Bergera

the we obviously, improvements margins. expect better data-as-a-service would to contracts our gross revenue, as software-as-a-service and grow our in margins. continue gross continue average than be see to our the on Yes, gross and we overall data-as-a-service And you'll to our progress margins

Mike Latimore

of benefit or that the reflect be is bookings to great really seen I Have still backlog. see still the -- the in is sometime? this -- that is the yet Act going you Yeah. future in Infrastructure benefit

Joe Bergera

question. Yeah, great

IJA people Infrastructure will at funding system, So through the to the flow Jobs it's Investment through three said in that's important the that different as past, least mechanisms. for we've funding, really understand Act

specifically will have sources gets the or us received particular agencies total may grants spending. that funding, mandatory which difficult represents funding and we formula be the for already back funding. specific the IJA utilize. mechanism first is And That revenue what mixed therefore, is not tie majority that and therefore, It in projects other bookings with in system. to that it's local back particular to of The any state any

a is funding funding. awarded money. substantially basis or of the is be less than grant and discretionary on competitive form other That project-by-project The formula to going represents

calls, As Paper has this White to later on be announce mentioned more month. U.S. We'll prior explaining detail the DoT publishing begun the mechanics we've awards. in various

actually that the to when or through agency agency, see grant local you'll to you walk time what we'll get Paper, the received However, U.S. and all White the is steps is [ph] you award foreshadow dispersing DoT that to vendors. able that need from time the funds that to the the state begin the transpire

grant be the to of going that's at months. initial award. as from least time XX can XX long be And general, in the And it as months

answer any the we're which we mandatory discretionary your any would question, to seeing the months. to definitely already spending, benefits is terms that in Mike, seeing or or from yet another of from expect But So in for we're benefit bookings the formula at least not XX grants. not competitive six system. the and revenue And of

Mike Latimore

Thanks. again. Congrats, Excellent.

Joe Bergera

Thank you.

Operator

you much. Thank very

Moore EF is question from next live. Your is from Tim, your coming Tim line Hutton.

Tim Moore

Thanks, shortages. and caveats and salivating know, congratulations very of there's sales adjusted gross strong EBITDA been delivered I'm expansion. very Also, just and waiting margin wondering, you And X.X% to growth strong impressive some the investors for quarter. that. I have the in and margin, patiently on chain supply kind

maybe, Kerry, quarter for guidance you've fiscal trying maybe So year. second for the for just to the I'm and your think, given

of that visibility quarters? could December shift of then. margin and grow be that there see they're quarter pretty margin than the be you as anything we there Is March the and should began margin How can mix December services for products March the magnitudes deployment gross in different to a to mean, more, magnitude, gross projects going terms lower think about and and maybe as I

Kerry Shiba

say single occur. wouldn't progression some expect Tim. I there is to that lightning I rod. a

margins. latched going greater on up on our as which think for any the go services spike, be way. always, what provide to an us a would based growth rod cause But will some And, of platform, continued I right we aggregate EBITDA impact as will leverage But single now, not if kind you progression. in the you've gross we mix and the on of that's margins software expect standing the lightning again, which have versus mix some seeing sensors keys, will the would along to we're forward.

Tim Moore

fair enough. No,

Kerry Shiba

have And, confidence again, our would to wanted in EBITDA XX% that of reiterate of target, in high achieving gross to Vision margins. XXXX just a A we level going I XX% which by lot to that's improvements by driven be be XXXX. still margins

Tim Moore

you've extra X.X% that No, think the credibility quarter. already the added June Good. I with to in

You still years have left. of plenty

But that maybe a on training. you it and doing October-November to spent labor see subcontractors? could was are term don't near on a like June, an and seeing there, headwinds that switching of the maybe and have in margins. you up hiring headwind. enough become been subcontractors would you rely inflection actually tailwind, have everyone's I drag commentary That So have to training on know much then internal to out get you now gears. just and as you that how point developments And seemed lot as and you were a internal

Joe Bergera

great so that's question. a Yeah,

So it by as we actually did our internal in an I X%. mentioned, grew labor improvement see capacity,

the X% X%. sequentially in was headcount not does capacity is What certainly which helpful. about that our consulting our quarter, grew that is total talking clear, be to just Now, we're mean labor

We about go. to of like the of growth see still so there. -- by sort get We'd that the the year, something and halfway end see the to to mid in more to mid-teens, have ranges like farther

the see But we work we introduced, So that feel we're definitely to already. done. those more good tactics about benefits there's starting from to initial and be

Tim Moore

Joe. helpful completely then to subject. last And It's change question, Great. the my

the came and have You've I to good Kerry accomplished him enjoyed so much the on grip meeting seems person operations. last in a May year, on board. very in he

XX supply that a ago. months were and for checking mean, the boxes things you better, better. boards of getting you're going impediments on and chains the circuit all As lot I subcontractors that

that have the that of a there's been in lot margin expansion you might your kind at come the margin you're They acquisitions EBITDA radar? And is at and Do on back of that backburner? pipeline? there, guidance. through. look are I Now any time seeing them? do mean, you have down And to point confidence think how's

Joe Bergera

Absolutely.

to talk want that to You Kerry?

Kerry Shiba

Sure. Yeah.

refocus think strategy. acquisition to on we're clearly, able our I

first in to low actually where Now, the has we execute. and reach comfortable in what compared the quarter project And tuck-in liquidity Tim, way, fourth the substantially last year. off, along would point some third would into be would point acquisition executing the we quarter sometime improved liquidity we of to probably a as it

potential out it's up think Tim just matter we I outcome the get the have the the you right always, pipeline's the again, a like. right We valuation, candidates. at that can of all We there. what direction at single would are make pipeline in filling to opportunities. are we're now. target But of, there, profile opportunities day pointing positive the looking affect And and are valuation. of there's the we there's end looks know, of interest, seeing any the sure out got factors Liquidity, that the as

Tim Moore

insights, on for the may like Well X.X and well It underway is earlier, model and color for Great. Version track really business thanks the feels those Kerry Joe. again.

And So for questions. thanks again. that's it my

Joe Bergera

Thank you, Tim. Yeah.

Kerry Shiba

Tim. Thanks,

Operator

are your Instructions] Bergera, like Thank to you Would address prior covering very investor Mr. from no closing any more much. remarks? analysts. questions Okay, [Operator to you there questions

Joe Bergera

questions. I to questions, already. time received operator, I which But actually these appreciate go and and perhaps that We would. of answered Yes. through to then you, each questions. Great. were effort investors of Because Thank submit these some want partially, three tick three specific I

our the been asked relates how specifically, has $XX million program. the question And today? for much repurchased repurchase which investor investor to share has authorized of first repurchase The been

to outstanding of an the of to board our common a stock that to for by of amount background, I question of up remind million unspecified all, is, first want everyone time. repurchase May that And approved XX, the plan $XX answer XXXX, way on

fiscal XXXX, XXX,XXX approved, of of share. price approximately after quarter so an first for repurchased at right average the was program $XXX,XXX shares we aggregate price the of an During per $X.XX

increase in kind to supply price of with components. of constraints, exposure every global impacted electronics Subsequently chain company obviously variances, purchase was familiar experienced a and Kerry talked to. course, virtually you're which to which any due we all That with severe

impact, because began since as that certainly And cash. of repurchase stock And our not it result, amount a consume to of X, significant we July XXXX. decided a own any

obviously, it position Now of provides optionality. for context And look resume cash continues to allocation to when will strategy. we at that improve, capital our any in certainly But a reevaluate and obviously, whether activity. repurchasing broader the

update The the Vantage the second question investor relates the Fusion company And investor to the line. product specifically, to of our an asked program. status Vantage provide Fusion on

Vantage December XXXX, everyone So effort Vantage with branded a a to differentiate our Fusion vehicle from or sensor we Continental we I in various to large we on because to joint did that AG system Apex as X, response, Vantage the At want or to introduce remind to intended Fusion. VXX-enabled such the announced dependencies. development roadmap minimize everything other a sensor as that, systems time to degree

received we've our design we've market of also chain supply as to the our subsequently, and But rationalize various processes. of measures manufacturing capability. part benefits implemented board feedback circuit program our improvement then And valuable this regarding

into set benefits. And a of matter has a as all merging our line my number fiscal Vantage remarks, as so, year. And I those Apex this sensor prepared the mentioned Fusion this lessons feature in we'll learned, of Vantage be

we're some that our which step streamline broader portfolio because but be we be that sensor believe vehicle and disclose our helpful accelerating strategy. is simplify prepared we'll also at -- -- in making, will moves it a that point, other not connected this will strategy not as First, it for we have of overall we believe to

the answer those working of the incorporate in again, Apex. Fusion So feature by is, to into should features that current fiscal that Vantage market And the be Vantage year. set we're the end

asked comment relates asked. investor So efforts activity, the the on third that progress which and of our to Tim, labor us results was question increase And labor to the question capacity, a the like internal internal to Tim capacity.

source experienced about I we as to response, capacity. also specifically our improvement a about in X% consulting increase to that job recruiting general improvement processes some our talked capabilities And our more quarter, to as international teams, in we labor our first activity, want attribute through our in candidates. internal in that, And improvement, reiterate some as in well enhancements

continue expect those in ahead, we initiating call. And quarter, recruiting our Looking back which students the our the second get touched we'll to campus, expanded as quarter. then on-campus in activities last I on to be third activity,

to anyway, And investors. always, to So submitted from continue we who the investors those hope as hope well the covering to responses were as helpful appreciate that I our questions. as analysts, of their individual we your you'll questions submit all And from questions us.

August Capital be in XXXX. XX, September XX, Investor participating So Minneapolis wrap anyway, on Microcap Northland the XXXX Markets Conference Sidoti before Conference, on we'll and in the that Virtual we up, I share want to Institutional

like venues, speak We you'd in would our schedule. love time If those you. to to us, on please either with request meet opportunity some the with

look investors available In as speak you meantime, the our questions. be with Additionally, investor conducting second we're progress to if And we you continued follow-up have any outreach when we report forward quarter on our again results. various activities. we'll to fiscal always, updating XXXX

with call. today's And we'll everyone. Thank you, so that, conclude

Operator

much. Thank does today's call. conclude conference you This very

And day. this for your disconnect time. lines participation. Thank wonderful phone at a may have your you You

Iteris (ITI) 8 Aug 232024 Q1 Earnings call transcript