Ituran Location and Control Ltd. (ITRN) Q2 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 Ituram's website from tomorrow. With me today on the call are Mr. Eyal Sheratzky, CEO, Mr. Udi Mizrahi, Deputy CEO and VP Finance, and Mr. Eli Kamer, CFO of Ituram. 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 received by now the company's press release. If not, please view it on the company's website. I'd like to remind everyone the safe harbour 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, Kenny. I'd like to welcome all of you to our second quarter 2026 results call. And thank you for joining us today. We are very pleased to report an excellent second quarter for it to run, with record revenue and profitability, with strong growth across every line of our income statement. For the quarter, overall revenue grew 21% year-over-year to a record of $104.8 million. Our recurring subscription revenue grew by 25% to $80 million, making up 76% of our total revenues. Beyond that, we grow all ...