Ituran Location and Control (ITRN) Q2 2025 earnings summary

Executive summary

• Achieved record Q2 2025 revenue of $86.8 million, up 2% year-over-year, despite a two-week economic suspension in Israel due to the Israel-Iran war.

• Subscriber base expanded by 40,000 net additions in Q2, reaching 2,548,000 by end of June 2025, a year-over-year increase of 219,000.

• Celebrated 30th anniversary and 20 years as a public company.

Financial highlights

• Q2 2025 revenues reached $86.8 million, up 2% year-over-year; in local currencies, up 4%.

• Subscription revenues grew 6% year-over-year to $63.8 million; product revenues declined 6% to $23 million.

• EBITDA was $22.9 million (26.4% margin), down 1% year-over-year; in local currencies, up 2%.

• Net income was $13.5 million (diluted EPS $0.68), up 2% year-over-year; in local currencies, up 6%.

• Operating cash flow for the quarter was $22.4 million.

Outlook and guidance

• On track to add 220,000–240,000 net subscribers in 2025.

• Management expects continued growth throughout 2025, focusing on new telematics products and expanding OEM partnerships.