Iteris, Inc. (Iteris) is a provider of smart mobility infrastructure management solutions.
The company's cloud-enabled solutions help public transportation agencies, municipalities, commercial entities and other transportation infrastructure providers monitor, visualize, and optimize mobility infrastructure to make mobility safe, efficient, and sustainable for everyone.
As a pioneer in intelligent transportation systems ('ITS') technology, the company's intellectual property, advanced detectio...
Iteris, Inc. (Iteris) is a provider of smart mobility infrastructure management solutions.
The company's cloud-enabled solutions help public transportation agencies, municipalities, commercial entities and other transportation infrastructure providers monitor, visualize, and optimize mobility infrastructure to make mobility safe, efficient, and sustainable for everyone.
As a pioneer in intelligent transportation systems ('ITS') technology, the company's intellectual property, advanced detection sensors, mobility and traffic data, software-as-a-service ('SaaS') offerings, mobility consulting services, and managed services represent a comprehensive range of smart mobility infrastructure management solutions that the company distributes to customers throughout the United States ('U.S.') and internationally.
The company's products, solutions and services increase vehicle and pedestrian safety and decrease congestion within the company's communities, while also reducing environmental impact, including vehicle carbon emissions.
The company continues to make significant investments to leverage its existing technologies and further enhance the company's advanced detection sensors, SaaS portfolio, mobility data sets, mobility consulting services, and managed services. As the company is always mindful of capital allocation, the company apply significant effort to evaluate and prioritize these investments. Likewise, the company is always exploring strategic alternatives intended to optimize the value of the company.
The company's strategies to mitigate global supply chain issues included re-designing certain circuit boards to accommodate computer chips that are more readily available in the market at more reasonable prices, and accumulating inventory in the first two quarters of the fiscal year ended March 31, 2023 ('Fiscal 2023'). The company also placed non-cancellable inventory orders for certain products in advance of the company's normal lead times to secure normal and incremental future supply and capacity.
Products and Services
Iteris provides comprehensive smart mobility infrastructure management solutions for public-sector and private-sector customers primarily located in North America. These solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.
Software Solutions
Iteris offers the company's public-sector and private-sector customers a portfolio of industry-leading smart mobility infrastructure software solutions. These software solutions include ClearGuide, ClearRoute, Commercial Vehicle Operations ('CVO'), TrafficCarma, VantageLive! and VantageARGUS CV (previously known as BlueARGUS) as described below.
ClearGuide, which is provided on a software-as-a-service basis ('SaaS'), is a state-of-the-art mobility intelligence and transportation performance analytics solution. It utilizes a wide range of data resources and analytical techniques to determine current and future traffic patterns to enable the effective performance analysis and management of traffic infrastructure resources at various levels - highway, arterial (i.e., corridor), or intersection. At times, the company refers to intersection performance analytics as signal performance measurement ('SPM'). ClearGuide users can measure how a transportation network is performing and identify potential areas of improvement. These applications are also capable of providing users with predictive traffic analytics, and easy-to-use visualization and animation features based on historical traffic conditions.
ClearRoute delivers contextual, real-time, actionable mobility intelligence and traveler information services on a platform-as-a-service basis. ClearRoute provides multimodal, multilingual, traveler information via mobile apps, websites, email and text alerts, and Interactive Voice Response ('IVR'). The ClearRoute solution benefits from a powerful, flexible and streamlined infrastructure to help reduce congestion and improve safety and mobility for transportation networks across the country, and facilitates frictionless interoperability, flexible provisioning, and robust management of customer focused data.
Commercial Vehicle Operations and vehicle safety compliance applications, which are provided on a SaaS basis, include various applications branded as ClearFleet, CVIEWplus, and Inspect. Collectively, these software applications support state-based commercial vehicles operations by storing and distributing intrastate and interstate commercial vehicle information for local, state, and federal agency roadside and enforcement operations.
TrafficCarma, which is easily white labeled, is the first mobile application focused on the 120 million U.S. daily commuters and their journeys to and from work, train stations, airports, sporting events and other destinations. TrafficCarma provides advice on known route choices, not turn-by-turn navigation. It is personalized for people's daily commutes and the roads they drive most. Verified crowdsourced content is combined with road speed data, public agency reports, camera imaging and other metrics and delivers users information relevant to their commute and other personal routes.
VantageLive! is a SaaS solution that allows users to collect, process and analyze advanced intersection data from the company's Vantage sensors, as well as to view and understand intersection activity.
VantageARGUS CV (previously BlueARGUS) is a SaaS solution that collects, analyzes, and visualizes various information related to travel times, speeds, and origin-destination from the company's BlueTOAD Spectra sensors and connected vehicle information from the company's BlueTOAD Spectra RSU sensors.
Mobility Data Sets
ClearData is the enhanced mobility data output of the Iteris ClearMobility Platform, a suite of data integration and analytics engines that aggregates and validates both proprietary and diversely sourced data inputs, including incidents, construction and connected vehicle GPS probes. Following processing and quality assurance, ClearData reflects real-time road conditions and is delivered to public-sector and private-sector customers via subscription-based direct data feeds or application programming interfaces ('APIs'), or through ClearGuide, the company's mobility intelligence and transportation performance analytics software solution. The complex, dynamic nature of roadway traffic cannot be explained by any single data source. ClearData resolves data conflicts through proprietary computerized algorithms and selective quality control from experienced traffic analysts.
Advanced Sensors
Iteris offers advanced intersection detection and other fixed traffic sensors that collectively comprise the company's two sensor families - Vantage and BlueTOAD. Increasingly, the company bundles communications systems and traffic data collection applications (e.g., VantageLive! and VantageARGUS CV) with the company's sensor products.
The Vantage family of sensors uses advanced image processing technology, radar technology and other techniques to observe multi-modal traffic (e.g., vehicle, bicycle, and pedestrian), translate these observations into structured data, and apply sophisticated, proprietary algorithms to this structured data to optimize traffic signal performance in real-time. Certain Vantage sensors apply machine learning techniques for enhanced object classification. In addition to detecting the presence of objects, the company's Vantage systems record vehicle count, speed and other traffic information used in traffic management systems. Thus, the company's Vantage systems give traffic managers the tools to mitigate roadway congestion by visualizing and analyzing traffic patterns, allowing them to modify traffic signal timing to improve traffic flow. The company's various software components complement the company's Vantage detection systems by providing integrated platforms to manage and view detection assets remotely over a network connection, as well as a mobile application for viewing anywhere. The Vantage family of sensors includes Vantage Apex, Vantage Next, VantagePegasus, VantageRadius, Vantage Vector, Velocity, SmartCycle, SmartCycle Bike Indicator, VersiCam, PedTrax, and P-Series products.
Vantage Apex is the industry's first full 1080p high-definition ('HD') video and 4D/HD radar hybrid sensor with integrated artificial intelligence ('AI') algorithms. Vantage Apex provides precise and detailed detection, tracking and classification of traffic.
Vantage Next uses a powerful processor that enables future functional growth while maintaining proven Iteris video detection performance and reliability. The architecture supports expanding ITS applications and easily integrates with existing technologies and is anticipated to integrate with future technologies.
VantagePegasus offers wireless broadband communications for transportation systems. VantagePegasus wireless networks are built with carrier grade radio components that deliver wireless connectivity and the bandwidth for communications from remote sites to a centralized host system.
VantageRadius is the industry's leading 4D high-definition radar detection system with an integrated high-resolution video camera for traffic monitoring and detection verification.
Vantage Vector is a hybrid video and radar detection sensor with a wide range of capabilities, including stop bar and advanced zone detection, which enable advanced safety and adaptive control applications.
Velocity takes advantage of the large number of vehicles that are driving with Bluetooth or Wi-Fi enabled devices such as smart phones. Each Velocity reader senses a device's unique 'MAC' address as they pass a reader station and transmits the time and location of the device to a central host system. As devices are detected at successive Velocity readers, the Host System calculates average travel times and speeds for a roadway segment. The device specific network address remains totally anonymous.
SmartCycle capability, which can effectively differentiate between bicycles and other vehicles with a single video detection camera, is available with all of the company's Vantage systems. SmartCycle enables more efficient signalized intersections, improved traffic throughput and increased cyclist safety. Agencies using bicycle timing benefit from bicycle-specific virtual detection zones that can be placed anywhere within the approaching traffic lanes, eliminating the need for separate bicycle-only detection systems.
SmartCycle Bike Indicator, which leverages the SmartCycle bicycle detection algorithm, is a device that mounts onto traffic signals and illuminates when cyclists waiting at an intersection have been detected, allowing cyclists to avoid interacting with vehicle traffic and without pushing pole-mounted buttons.
VersiCam, an integrated camera and processor video detection system, is a cost-efficient video detection system for smaller intersections that require only a few detection points.
PedTrax capability, which is also available with all of the company's Vantage systems, provides bi-directional pedestrian counting and speed tracking within the crosswalk to help improve signal timing efficiency, as well as providing an additional data stream to existing vehicle and bicycle counts.
P-Series detection cameras are integrated machine vision processors and cameras, designed for use on all types of intersections outside of North America.
The BlueTOAD product family combines unique MAC address capture with the latest CV technologies. The combination of these two technologies provides customers with a market leading sensor along with a comprehensive data set that enables advanced analytics through the company's SaaS offerings. The BlueTOAD family of sensors includes BlueTOAD Spectra and BlueTOAD Spectra CV, both of which the company bundles with a cloud-based software application branded as VantageARGUS CV.
BlueTOAD Spectra is a complete system for identifying the travel times of vehicles using advanced Bluetooth re-identification techniques. This provides traffic flow information for vehicle travel as well as Origin-Destination information.
BlueTOAD Spectra CV is a full-featured connected vehicle and travel time information system. In addition to travel times and vehicle speeds, it communicates vital safety and mobility information via both DSRC and C-V2X from infrastructure to vehicles and other users.
In select territories, the company also sells certain complementary original equipment manufacturer ('OEM') products for the traffic intersection market, which include, among other things, traffic signal controllers and traffic signal equipment cabinets.
Future growth domestically and internationally for the company's Vantage family of products will depend, in part, on the continued replacement of traditional in-pavement loop technology with above-ground video and radar detection technologies to manage traffic.
Managed Services
Iteris Managed Services include traffic management centers ('TMC') design, staffing, and operations services for public agencies, whether they need to create a new TMC or migrate an existing TMC network to a virtual environment. Iteris partners with agencies to augment their internal capability and provide the foundation and expertise required to successfully implement virtual TMCs to support goals such as capital or recurring cost savings, operation from any location, and staff security and flexibility.
Additionally, Iteris' managed services combine SaaS, smart sensors and consulting expertise to proactively address the challenges of monitoring and maintaining intersections, arterial roads and highways along with their related in-field technology. These services include arterial management and asset management managed services. The company's asset management managed service combines innovative traffic optimization with hardware inventory and maintenance.
With Iteris Managed Services, public transportation agencies, real estate developers, construction firms, and event operators are provided the opportunity to save time and money while keeping road users safer and ensuring that traffic flows efficiently.
Traffic Engineering and Mobility Consulting
The company's traffic engineering and mobility consulting services include planning, design, development and implementation of software and hardware-based ITS solutions that integrate sensors, video surveillance, computers and advanced communications equipment to enable public agencies to monitor, control and direct traffic flow, assist in the quick dispatch of emergency crews, and distribute real-time information about traffic conditions. The company's services also include planning, design, implementation, operation and management of surface transportation infrastructure systems. The company perform analysis and study goods movement, provide travel demand forecasting and systems engineering, and identify mitigation measures to reduce traffic congestion.
ClearMobility Platform
With the company's introduction of the ClearMobility Platform, the company aligned its entire portfolio of solutions under a common branding structure. This alignment will drive internal synergies, increase the company's cross-sell rate, enhance sales productivity, and increase market awareness of the company's entire solutions portfolio. Additionally, the ClearMobility Platform enables seamless interoperation among the company's solutions via a common mobility data management engine, API framework, and microservices ecosystem that provides standardized data ingestion, cleansing, and analytics, as well as authentication and policy-based security for each component of the ClearMobility Platform. The company's ClearMobility Platform is both horizontally scalable and third-party extensible.
The company's process of developing, enhancing, aligning, harmonizing, and optimizing the company's portfolio of individual solutions is an ongoing process, for which the company's chief operating decision maker ('CODM') evaluates financial and operational performance holistically. As such, the company reports as a single operating segment.
Over 90% of the company's revenues are attributable to public-sector customers. Therefore, most of the company's revenues depend on state and local government funding, and to a lesser extent federal governmental funding.
Sales and Marketing
The company markets and sells its software, mobility data, managed services, traffic engineering, and mobility consulting services to government agencies pursuant to negotiated contracts that involve competitive bidding and specific qualification requirements. Most of the company's contracts are with federal, state and local municipal customers, and generally provide for cancellation or renegotiation at the option of the customer upon reasonable notice and fees paid for modification. The company generally uses selected members of the company's traffic engineering, mobility consulting, data science and product management teams on a regional basis to serve in sales and business development functions. The company's traffic engineering and mobility consulting service contracts generally involve long lead times and require extensive specification development, evaluation and price negotiations.
The company sells its Vantage and BlueTOAD product families along with their related software bundles through both direct and indirect sales channels. Where the company sells direct, the company uses a combination of the company's own sales personnel and outside sales organizations to sell, oversee installations, and support the company's products. The company's indirect sales channel comprises a network of independent distributors in the U.S. and select international locations, which sell integrated systems and related products to the traffic management market. The company's independent distributors are trained in and primarily responsible for the sales, installation, set-up and support of the company's products. They maintain an inventory of demonstration traffic products from various manufacturers, who sell directly to government agencies and installation contractors. These distributors often have long-term arrangements with local government agencies in their respective territories for the supply of various products for the construction and renovation of traffic intersections, as they are generally well-known suppliers of various high-quality ITS products to the traffic management market. The company periodically holds technical training classes for its distributors and end-users, and the company maintains a full-time staff of customer support technicians throughout the U.S. to provide technical assistance when needed. When appropriate, the company modifies or makes changes to its distributor network to accommodate the needs of the market and the company's customer base.
The company sells traffic and mobility data and software through a direct sales model to commercial enterprises, such as media companies involved in providing real-time traffic data and traffic incident data to insurance companies, automotive OEMs and the traveling public.
Manufacturing and Materials
The company uses contract manufacturers to build subassemblies that are used in the company's products. Additionally, the company procures certain components for the company's products from qualified suppliers, both in the U.S. and internationally, and generally uses multi-sourcing strategies when technically and economically feasible to mitigate supply risk. Historically, Veris Manufacturing has served as the company's only contract manufacturing services (CMS) partner; however, in fiscal 2024, the company entered into a contract with a second CMS partner, Creation Technologies. The company's CMS partners deliver manufactured subassemblies and components to the company's Santa Ana, California facility, which includes approximately 12,000 square feet of space, where they go through final assembly and testing prior to shipment to the company's customers. The company's production facility maintains a Quality Management System that is certified as conforming to all requirements of the International Organization for Standardization ('ISO') 9001:2015 international standard. Additionally, the company also purchases and resells certain third-party products at times in order to better service customer needs. These third-party products may be stored and shipped from the company's Santa Ana facility or one of the company's regional distribution centers, depending on the type of third-party product and the ultimate customer destination.
Intellectual Property and Proprietary Rights
The company has 34 issued U.S. patents, including: (i) 17 relating to the company's advanced sensor technologies, (ii) 10 relating to the company's engineering and consulting services technologies and (iii) 7 related to the company's traffic and mobility software. The company has 2 pending patent applications in the U.S. The company has 9 issued foreign patents and 1 foreign patent application related to the company's traffic and mobility software. The expiration dates of the company's patents range from 2026 to 2042.
BlueARGUS, BlueTOAD, ClearData, ClearFleet, ClearGuide, ClearMobility, ClearRoute, CVIEWplus, Inspect, Iteris, PedTrax, SmartCycle, SmartCycle Bike Indicator, Spectra, TrafficCarma, TrafficCast, UCRLink, Vantage, VantageARGUS CV,Vantage Apex, Vantage Next, VantagePegasus, VantageRadius, VantageLive!, Vantage Vector, Velocity, and VersiCam are among, but not all of, the trademarks of Iteris.
Research and Development
The company's research and development costs and expenses were approximately $10.0 million for the year ended March 31, 2024.
History
Iteris, Inc. was founded in 1969. The company was incorporated in Delaware in 1987.
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