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iteris Iteris Reports 18 % Revenue Growth Year Over Year for First Half of Fiscal 2022 and Maintains Full Year Revenue Guidance of $ 134 Million to $ 142 Million SANTA ANA , Calif . - November 3 , 2021 - Iteris , Inc. ( NASDAQ : ITI ) , the global leader in smart mobility in frastructure management , today reported financial results for its fiscal second quarter 2022 ended September 30 , 2021. During the first quarter of fiscal 2021 , the company completed the sale of its Agriculture and Weather Analytics segment to DTN , LLC . The results of the Agriculture and Weather Analytics segment are reported as discontinued operations for all periods presented in this release . Fiscal Second Quarter 2022 Financial Summary Total revenue of $ 33.2 million , up 14 % year over year Record total ending backlog of $ 83.4 million , up 14 % year over year GAAP net loss from continuing operations of $ 2.1 million , or $ ( 0.05 ) per diluted share , due to a one - time , non - cash charge in the second quarter related to an amendment to a software development contract Adjusted EBITDA of $ 2.3 million , an 18 % , or $ 0.4 million , improvement year over year Fiscal First Half 2022 Financial Summary ● ● Total revenue of $ 67.3 million , up 18 % year over year GAAP net loss from continuing operations of $ 1.5 million , or $ ( 0.03 ) per diluted share , due to a one - time , non - cash charge in the second quarter related to an amendment to a software development contract Adjusted EBITDA of $ 5.4 million , a 28 % , or $ 1.2 million , improvement year over year Fiscal Full Year 2022 Outlook ● Maintains the total revenue guidance range of $ 134 million to $ 142 million , which would represent year - over - year growth of 15 % at the low end and 21 % at the high end Maintains adjusted EBITDA guidance range of 7 % to 8 % of fiscal full year 2022 revenue , which would represent year over - year growth of 10 % at the low end and 27 % at the high end Management Commentary : " Although supplier issues in the second quarter caused some delay in revenue recognition , we are very pleased with the customer response to our ClearMobility Platform and continue to experience strong demand across both public and private sector end markets , " said Joe Bergera , president and CEO of Iteris . " We enter the second half of fiscal 2022 with record total ending backlog and an exciting product roadmap ; therefore , we expect to continue to gain share in the highly fragmented smart mobility infrastructure management market . " GAAP Fiscal Second Quarter 2022 Financial Results Total revenue in the second quarter of fiscal 2022 increased 14 % to $ 33.2 million , compared with $ 29.3 million in the same quarter a year ago , primarily driven by the addition of revenues from Traffic Cast , and continued strong demand for both hardware and software solutions . Page 1 of 8