Strong, Consistent Financial Performance

Ituran Location and Control Ltd. (NASDAQ: ITRN) is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of connected-car solutions. Ituran offers stolen vehicle recovery (SVR), fleet management, mobile asset tracking, and control services for vehicles, cargo, and personal security across the retail, insurance, financing, and OEM automotive sectors…

As the largest OEM telematics provider in Latin America, Ituran’s products and applications serve customers in over 20 countries. Established in 1995 and headquartered in Israel with approximately 2,800 employees worldwide, the company maintains a market-leading position in Israel and Latin America and operates offices across Brazil, Argentina, Mexico, Ecuador, Colombia, India, Canada, and the United States. Its subscriber base has grown to over 2.71 million active users leveraging its advanced location-based services.

Ituran’s core strength lies in its highly predictable recurring revenue model—subscription fees consistently represent 74-76% of total revenues—delivering operating leverage, margin expansion, and visibility. This SaaS-like structure, paired with targeted one-time product sales, underpins stable cash generation and positions Ituran for scalable growth in the global telematics and connected-car markets.

2025 marked a record year for Ituran (Nasdaq: ITRN), driven by strong net subscriber additions and operational excellence. Full-year revenues reached a new high of $359.0 million (+7% YoY), with subscription revenues up 9% to $264.6 million. The company added a net 221,000 subscribers, bringing the total base to 2.63 million at year-end. Q4 alone delivered $93.5 million in revenue (+13% YoY), with subscriptions comprising 76% of the total and gross margins expanding to 50.5% overall (59.5% on subscriptions). EBITDA rose 5% to $96.2 million (26.8% margin), net income increased 8% to $58.0 million ($2.92 diluted EPS), and operating cash flow hit a record $88.6 million, ending the year with $107.6 million in net cash and marketable securities.

Ituran extended that momentum in the second quarter of 2026. Q2 2026 revenue reached a new record of $104.8 million (+21% YoY), with subscription revenue up 25% to $79.8 million and subscriptions accounting for 76% of total revenue. The company added 41,000 net new subscribers, bringing the total base to 2.71 million as of June 30, 2026 — an increase of 163,000 year-over-year. Gross margin expanded to 50.9% of revenues (58.8% on subscriptions), operating income rose 30% to $23.8 million (22.7% of revenues), EBITDA grew 24% to a record $28.5 million (27.2% margin), and net income increased 29% to $17.3 million, or $0.88 per diluted share. Cash flow from operations was a record $32.2 million for the quarter.

“The second quarter was an excellent quarter for Ituran. Revenue reached a record $104.8 million, a 21% increase year-over-year with our recurring subscription revenue growing by 25% year-over-year,” said Eyal Sheratzky, Co-CEO of Ituran. “Furthermore, our operating income, EBITDA and net income each grew faster than our revenue, demonstrating the operating leverage in our business model.”

Ituran continues to prioritize shareholder returns. In 2025 the company distributed $60 million in dividends (including a special $20 million payout in Q4), representing approximately 100% of net income and a ~7% yield based on year-end share price. The Board declared a further quarterly dividend of $0.50 per share (approximately $10 million) for Q2 2026, and $3.0 million of shares were repurchased during the quarter, with approximately $10 million of buyback authorization remaining. Net cash and marketable securities stood at $103.7 million as of June 30, 2026, with no debt.

Looking forward, management expects to sustain net subscriber additions in the 160,000–180,000 range through 2026, supported by new OEM partnerships (including the recently announced “Connect Fiat” project with Stellantis in South America) and innovative growth vectors such as IturanMob’s U.S. expansion for car-rental fleets, recognized during the second quarter with a Global Tech Insider award — Big Data monetization from its 2.7+ million-unit network, and Credit Carbon solutions for EV owners. Management reiterated its confidence in delivering continued growth and profitability throughout 2026.

As illustrated in the recurring revenue model and subscriber growth charts below, Ituran’s business delivers durable, high-margin growth. Comprehensive SEC filings, quarterly reports, and historical financials are available directly on this Financials & Filings page for investors seeking detailed analysis of ITRN performance, telematics SaaS metrics, and global expansion.

Ituran (Nasdaq: ITRN) combines proven execution in location-based telematics with forward-looking innovation—delivering recurring revenue stability, subscriber momentum, and consistent shareholder value in the connected-mobility ecosystem.