Itron announced a new contract with Northumbrian Water Limited (NWL) to install 330,000 Itron Aquadis+ volumetric water meters equipped with Cyble 5 multi‑connectivity modules, with deployment slated for completion in 2029. The agreement marks Itron’s third Cyble 5 deployment in the United Kingdom and expands the company’s footprint in a regulated water sector that is under pressure to reduce leaks and improve operational efficiency.
The meters will connect through a LoRaWAN network supplied by Itron partner Connexin, enabling hourly data collection and real‑time leak detection. The contract supports Ofwat’s target of a 50 % reduction in water leaks from a 2017‑18 baseline by 2050, positioning NWL to meet regulatory requirements while delivering greater customer engagement and billing accuracy.
Strategically, the deal adds a substantial volume of meters to Itron’s pipeline and reinforces its outcomes‑focused software and services portfolio. By deploying Cyble 5 technology across a major UK utility, Itron is strengthening its ecosystem approach and securing a long‑term revenue stream that will contribute to its backlog of $4.3 billion and support the company’s broader goal of expanding digital infrastructure in the water market.
Itron’s Q3 2025 earnings report showed revenue of $581.63 million, slightly above analyst estimates of $578.49 million, and non‑GAAP earnings per share of $1.54, beating consensus of $1.48. The earnings beat was driven by disciplined cost management and a favorable mix of high‑margin software and services contracts, offsetting a 5.5 % year‑over‑year decline in revenue that was largely attributable to macro‑economic headwinds and a temporary slowdown in legacy product sales. The new Northumbrian Water contract is expected to add significant recurring revenue and help offset the short‑term revenue dip.
Management highlighted the contract’s importance in a broader context. Gary Adams, Head of Metering Operations at NWL, said the Cyble 5 solution “empowers customers with near real‑time data on their water usage, helping them make informed decisions to conserve water and reduce their bills.” Justin Patrick, Senior Vice President of Device Solutions at Itron, noted that the company’s work with NWL, Severn Trent Water, and Yorkshire Water “involves deploying over a million Itron water meters equipped with Cyble 5 across the regions,” underscoring the scale of Itron’s UK deployment strategy.
In addition to the contract, Itron announced a definitive agreement to acquire Locusview, Ltd. for $525 million and an intent to acquire Urbint for $325 million, both aimed at enhancing its software and AI capabilities for utilities. These acquisitions, combined with the Northumbrian Water deal, signal Itron’s commitment to expanding its digital construction management and AI‑driven solutions portfolio, positioning the company to capture growth in the evolving utilities market.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.