This is a clean beat across revenue, earnings, and cash flow with accelerating subscription growth. The 25% subscription revenue growth and 41,000 net subscriber adds confirm strong organic momentum in Israel and Latin America. With a debt-free balance sheet and $103.7M cash, the company has ample capacity for continued buybacks and dividends. Watch for any guidance on the upcoming earnings call, but the trajectory supports continued outperformance.
Price Chart
Executive Summary
Ituran reported record Q2 2026 results with revenue of $104.8M (+21% YoY), net income of $17.3M (+29% YoY), and EBITDA of $28.5M (+24% YoY). The subscriber base grew to 2.71M, adding 41,000 net new subscribers in the quarter. The company declared a $10M quarterly dividend and repurchased $3.0M in shares, while maintaining a debt-free balance sheet with $103.7M in cash. This is a strong beat across all key metrics, with subscription revenue (76% of total) accelerating to 25% growth, indicating durable recurring revenue momentum and operating leverage.
Key Facts
- Record quarterly revenue of $104.8M, up 21% YoY
- Net income of $17.3M, up 29% YoY to $0.88 diluted EPS
- EBITDA of $28.5M, up 24% YoY (27.2% margin)
- Subscription revenue of $79.8M, up 25% YoY (76% of total revenue)
- Added 41,000 net subscribers, total base of 2,711,000
- Record operating cash flow of $32.2M in the quarter
- Debt-free balance sheet with $103.7M net cash
- Declared $10M quarterly dividend ($0.50/share); repurchased $3.0M in shares
Financial Impact
Revenue beat by $18.0M (+21%) vs prior year; net income beat by $3.9M (+29%) vs prior year; operating cash flow of $32.2M was a record
Risk Factors
- Israeli Shekel strength against USD negatively impacted finance expenses ($1.3M in the quarter)
- Product gross margin slightly declined to 25.7% from 26.0% due to product mix shift
- Cash balance decreased to $103.7M from $107.6M at year-end due to dividends and buybacks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-004047 |
| Document: zk2635863.htm | 0001178913-26-004047 |
| Document: 0001178913-26-004047-index-headers.html | 0001178913-26-004047 |
| Document: 0001178913-26-004047-index.html | 0001178913-26-004047 |
| Document: 0001178913-26-004047.txt | 0001178913-26-004047 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 6-K | $50.94 | awaiting T+20 | — | $51.43 (+0.96%) |
Sep 29, 2026 28d ago | 6-K | $51.01 $52.70 | ▲ +3.31% | ▲ +2.60% | $51.43 (+0.82%) |
Sep 23, 2026 4w ago | 6-K | $51.88 $50.85 | ▼ −1.99% | ▼ −2.68% | $51.43 (−0.87%) |
Sep 9, 2026 6w ago | 6-K | $51.32 $52.20 | ▲ +1.71% | ▼ −0.23% | $51.43 (+0.21%) |
Aug 12, 2026 10w ago | 6-K | $54.07 $51.75 | ▼ −4.29% | ▼ −2.39% | $51.43 (−4.88%) |
Aug 12, 2026 10w ago | 6-K | $54.07 $51.75 | ▼ −4.29% | ▼ −2.39% | $51.43 (−4.88%) |
Aug 12, 2026 10w ago | Press Release | $54.07 $51.75 | ▼ −4.29% | ▼ −2.39% | $51.43 (−4.88%) |
Jul 20, 2026 14w ago | 6-K | $55.71 $52.83 | ▼ −5.17% | ▼ −9.29% | $51.43 (−7.68%) |
Jun 25, 2026 17w ago | 6-K | $62.12 $55.30 | ▼ −10.98% | ▼ −11.51% | $51.43 (−17.21%) |
May 26, 2026 22w ago | 6-K | $61.39 $62.17 | ▲ +1.27% | ▲ +3.22% | $51.43 (−16.22%) |
US Market Status
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