Itron made its Riva S and Riva T IEC electricity meters available to Asia-Pacific utilities on Sept. 22, its first Gen6 device rollout in the region. After second-quarter revenue fell 7% year over year to $563 million, it raised its 2026 outlook.
Itron now forecasts 2026 revenue of $2.37 billion to $2.41 billion and non-GAAP EPS of $6.30 to $6.50. Its third-quarter guidance is $590 million to $600 million in revenue and $1.50 to $1.60 in non-GAAP EPS. In Q2, Outcomes revenue rose 13% and annual recurring revenue increased 21% to $417 million, while Networked Solutions revenue fell 17% amid project timing and lower volumes; adjusted gross margin reached a record 41.4%.
The Riva meters are designed as grid sensors and control points, using high-frequency sampling and local edge computing to detect voltage swings, transformer loading issues, faults and outages in real time. Their modular, backward-compatible design lets utilities add analytics in stages. Itron says it has shipped more than 18 million distributed-intelligence-enabled meters.
