Ituran Location and Control Ltd. (ITRN) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. My name is Kenny Green and I'm part of the Investor Relations team at Itaewon. I'd like to welcome all of you to Itaewon's Results Zoom webinar and I would like to thank Itaewon's management for hosting this conference call. All participants other than the presenters are currently muted. Following the formal presentation, I'll provide some instructions for participating in the live question and answer session. I would like to remind everyone that this conference call is being recorded and the recording will be available from the link in the earnings press release and on Iturun's website from tomorrow. With me today on the call are Mr. Eyal Sharatsky, CEO, Mr. Udi Mizrahi, Deputy CEO and VP Finance, and Mr. Eli Kamar, CFO of Iturun. Eyal will begin with a summary of the quarter's results followed by Eli with a summary of the financials. We'll then open the call for the question and answer session. You should have all view it on the company's website. I'd like to remind everyone the safe harbor statement in today's press release also covers the contents of this conference call and the associated presentation. And now, Eyal, would you like to begin, please? Thank you, Piani. I'd like to welcome all of you to our first quarter 2026 results call, and thank you for joining us today. We are very pleased to report a strong start to 2026. with our revenue crossing the $100 million milestone for the first time in our history. For the quarter, overall revenue grew 19% year-over-year to $102.7 million, a record with subscription revenue growth of 21% to $75.4 million. Operating income, EBITDA, and net income, all grow year over year by double digit with EBITDA reaching $26.7 million. During the quarter, we added 40,000 net new sub...