Itron ships over 1 million Cyble 5 communication modules, driving revenue growth potential

From NASDAQ MarketSite: 2024-07-19 10:42:00

Itron, Inc. (ITRI) deploys over 1 million Cyble 5 water communication modules, aiding utilities in distribution network modernization and cost reduction. Severn Trent Water adapts 400,000 smart meters with Cyble 5 modules through a LoRaWAN network, enhancing consumer engagement and leak detection. The technology drives demand reduction and billing accuracy.

Itron’s innovative Cyble 5 solution, with multi-connectivity communication modules, supports utilities in their digital transformation. Severn Trent Water attests to its success in reducing water waste and efficiently managing leaks. ITRI’s revenue surged by 22% to $603 million in Q1, driven by heightened demand for smart water meters, showcasing growth potential.

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