Ituran Location and Control Ltd. (ITRN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo en rápida evolución del seguimiento y la seguridad de los vehículos, la ubicación y el control de turan Ltd. (ITRN) surge como una potencia tecnológica, transformando cómo las empresas y las personas protegen y administran sus activos móviles. Al combinar sin problemas la tecnología GPS de vanguardia, el análisis de datos sofisticado y las soluciones de seguridad integrales, Iuran ha forjado un nicho único en el mercado global de telemática. Su innovador modelo de negocio no solo proporciona seguimiento en tiempo real y servicios de recuperación de robo, sino que también ofrece un valor tangible a diversos segmentos de clientes, desde propietarios de vehículos privados hasta compañías de gestión de flotas a gran escala.

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: asociaciones clave

Colaboración estratégica con fabricantes de automóviles

Iuran ha establecido asociaciones con múltiples fabricantes de automóviles a nivel mundial:

Fabricante	Detalles de la asociación	Región
General Motors	Soluciones de seguimiento integradas	Estados Unidos
Hyundai	Integración del sistema telemático	Corea del Sur/Brasil
Renault	Servicios de vehículos conectados	Brasil

Asociaciones con compañías de seguros y empresas de gestión de flotas

Las asociaciones clave de seguro y gestión de flotas incluyen:

• Porto Seguro (Brasil) - Asociación de evaluación de riesgos
• Liberty Seguros: colaboración de seguros basada en el uso
• Axa Insurance - Compartir datos telemáticos

Proveedores de telecomunicaciones para conectividad de red

Proveedor	Tecnología de red	Cobertura
Vivo (Telefónica)	Red 4G/5G	Brasil
Claro	Datos celulares	América Latina

Proveedores de tecnología para GPS y desarrollo de sistemas de seguimiento

Iruran colabora con proveedores de tecnología especializados:

• Sierra Wireless - Módulos de conectividad IoT
• U -Blox - Tecnologías de posicionamiento GNSS
• QUALCOMM - CHIPSETS DE REGRESO INCREDADOS

Distribuidores locales e internacionales

Distribuidor	Mercado	Alcance de distribución
Autotrac	Brasil	National Fleet Management Solutions
Sascar	América Latina	Distribución telemática regional

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: actividades clave

Seguimiento de vehículos y monitoreo de ubicación

Iuran opera un sofisticado sistema de seguimiento de vehículos con las siguientes especificaciones:

Métrico	Datos
Vehículos totales rastreados	1.3 millones
Cobertura geográfica	Brasil, Israel, Estados Unidos
Precisión de seguimiento en tiempo real	99.7%

Servicios de recuperación de vehículos robados

Las métricas de rendimiento de recuperación incluyen:

• Tiempo de recuperación promedio: 2.5 horas
• Tasa de éxito de recuperación: 85%
• Recuperaciones anuales: 12,000 vehículos

Análisis de datos telemáticos

Ituran procesa datos telemáticos extensos:

Métrica de procesamiento de datos	Volumen
Puntos de datos diarios procesados	45 millones
Almacenamiento de datos anual	16 petabytes

Desarrollo de productos de software y hardware

Detalles de inversión de I + D:

• Gastos anuales de I + D: $ 18.2 millones
• Número de patentes activas: 37
• Ciclo de desarrollo de productos: 12-18 meses

Atención al cliente y servicios técnicos

Métrico de soporte	Actuación
Canales de soporte 24/7	Teléfono, correo electrónico, portal en línea
Tiempo de respuesta promedio	15 minutos
Interacciones de soporte anual	420,000

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: recursos clave

GPS avanzado y tecnología de seguimiento

El recurso tecnológico clave de Ituran incluye sistemas de seguimiento GPS en tiempo real con una precisión de ubicación del 99.7%. La compañía opera con las siguientes especificaciones de tecnología:

Parámetro tecnológico	Especificación
Precisión de seguimiento	99.7% precisión de ubicación
Redes satelitales	GPS, Glonass, Galileo
Actualización de frecuencia	Cada 10 segundos para servicios premium

Plataformas de software patentadas

La infraestructura de software de Ituran incluye:

• Aplicación móvil iTrack
• Panel de gestión de la flota
• Sistema de alerta en tiempo real

Equipos de ingeniería y tecnología calificadas

A partir de 2024, Iuran mantiene:

Composición del equipo	Número
Ingenieros totales de I + D	187 profesionales
Desarrolladores de software	94 especialistas
Ingenieros de hardware	53 profesionales

Infraestructura de red global

La cobertura de red de Icuran incluye:

• Operativo en 8 países
• Más de 1.2 millones de dispositivos de seguimiento activo
• Centros de datos en Brasil, Israel y Estados Unidos

Propiedad intelectual y patentes

Portafolio de propiedad intelectual de Icuran:

Categoría de IP	Cantidad
Patentes activas	27 patentes registradas
Aplicaciones de patentes pendientes	14 aplicaciones
Registros de marca registrada	42 marcas comerciales globales

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: propuestas de valor

Ubicación del vehículo en tiempo real y soluciones de seguridad

Iuran proporciona un seguimiento GPS con una precisión del 99.7% para los vehículos. La compañía sirve a más de 1,2 millones de suscriptores activos en varios países, incluidos Israel, Brasil y los Estados Unidos.

Categoría de servicio	Porcentaje de cobertura	Tiempo de respuesta
Seguimiento de vehículos en tiempo real	99.7%	Menos de 60 segundos
Alertas de geofencing	97.5%	Notificación instantánea

Primas de seguro reducidas a través de la mitigación de riesgos

Las soluciones de seguimiento de Ituran ayudan a reducir las reclamaciones de seguros en un 35-40% para los socios de seguros participantes.

• Reducción promedio de la prima de seguro: 12-15%
• Tasa de recuperación del robo: 85%
• Mejora de la eficiencia del procesamiento de reclamos: 28%

Eficiencia de gestión de flotas mejorada

Para la gestión de la flota comercial, Iuran ofrece soluciones que mejoran la eficiencia operativa en un 42%.

Métrica de gestión de la flota	Porcentaje de mejora
Optimización de costos de combustible	22%
Eficiencia de ruta	35%
Monitoreo del comportamiento del conductor	18%

Servicios integrales de prevención y recuperación de robo

La tecnología de prevención de robo de Icuran tiene un historial probado de 85% de tasa de recuperación del vehículo dentro de las 24 horas posteriores a la reportada de robo.

Soluciones de seguimiento personalizables para diversas necesidades de clientes

Iuran ofrece múltiples niveles de servicio con precios que van desde $ 9.99 a $ 49.99 por mes, atendiendo a clientes individuales y comerciales.

Nivel de servicio	Precio mensual	Características
Basic	$9.99	Seguimiento de GPS estándar
De primera calidad	$24.99	Alertas avanzadas, geofencing
Empresa	$49.99	Suite de gestión de flota completa

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: relaciones con los clientes

Atención al cliente personalizada

Iuran proporciona atención al cliente a través de múltiples canales con las siguientes métricas clave:

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte telefónico	12 minutos	92%
Soporte por correo electrónico	24 horas	88%
Chat en vivo	8 minutos	95%

Plataformas de gestión de cuentas en línea

Iuran ofrece plataformas digitales con las siguientes características:

• Seguimiento de vehículos en tiempo real
• Configuración de alerta personalizable
• Informes de ubicación histórica
• Interfaz de administración de dispositivos

Asistencia técnica y resolución de problemas

Los servicios de soporte técnico incluyen:

Tipo de servicio	Cobertura	Tasa de resolución
Diagnóstico de dispositivos	Diagnóstico remoto 24/7	97%
Reemplazo de hardware	Siguiente día hábil	95%
Solución de problemas de software	Soporte remoto	93%

Actualizaciones regulares de software y mejoras del sistema

La estrategia de actualización de software de Ituran incluye:

• Actualizaciones trimestrales del sistema
• Actualizaciones automáticas de firmware
• Implementaciones de parches de seguridad

Gestión de cuentas dedicada para clientes corporativos

Detalles de la gestión de la relación de clientes corporativos:

Nivel de servicio	Número de gerentes dedicados	Tamaño promedio de la cartera de clientes
Nivel empresarial	15 gerentes de cuentas	8-10 clientes corporativos por gerente
Nivel de mercado medio	22 gerentes de cuentas	12-15 clientes corporativos por gerente

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, Iuran mantiene un equipo de ventas directo dedicado de 287 representantes de ventas profesionales en sus mercados primarios en Israel, Brasil y Estados Unidos.

Mercado	Número de representantes de ventas	Ventas promedio por representante
Israel	124	$215,000
Brasil	98	$185,000
Estados Unidos	65	$240,000

Sitio web en línea y plataforma de comercio electrónico

La plataforma digital de Icuran generó $ 42.3 millones en ingresos directos de ventas en línea en 2023, lo que representa el 18.6% de los ingresos totales de la compañía.

• Sitio web Visitantes mensuales únicos: 672,000
• Tasa de conversión en línea: 3.7%
• Valor de transacción en línea promedio: $ 587

Asociaciones de concesionario automotriz

Iuran colabora con 1,246 concesionarios automotrices en sus mercados operativos.

Región	Número de socios de concesionario	Ingresos de la asociación
Brasil	678	$ 18.7 millones
Israel	412	$ 12.3 millones
Estados Unidos	156	$ 8.9 millones

Redes de referencia de la compañía de seguros

Iuran mantiene asociaciones estratégicas con 89 compañías de seguros, generando $ 27.6 millones en ingresos basados ​​en referencias.

• Número de asociaciones de seguro activos: 89
• Tasa de comisión de referencia promedio: 12.4%
• Ingresos de la red de referencia total: $ 27.6 millones

Interfaces de aplicaciones móviles

La aplicación móvil de ITURAN admite 412,000 usuarios mensuales activos con características de gestión y seguimiento en tiempo real.

Módulo de aplicación móvil	2024 datos
Usuarios activos mensuales	412,000
Tasa de descarga de la aplicación	76,000 por mes
Ingresos móviles	$ 16.4 millones

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: segmentos de clientes

Propietarios de vehículos privados

A partir de 2023, Iuran atiende a aproximadamente 1,3 millones de propietarios de vehículos privados en varios países. Desglose de penetración del mercado:

País	Número de clientes de vehículos privados
Brasil	870,000
Israel	250,000
Estados Unidos	180,000

Empresas de gestión de flotas comerciales

Iuran admite 45,000 clientes de flota comercial con soluciones de seguimiento avanzado.

• Tamaño promedio de la flota rastreado: 75 vehículos por cliente
• Ingresos recurrentes anuales de Fleet Management: $ 42.5 millones
• Industrias principales atendidas:
  • Logística
  • Transporte
  • Servicios de entrega

Proveedores de seguros

Asociaciones con 18 compañías de seguros en tres continentes.

Región	Número de socios de seguros	Tasa de penetración
América Latina	12	67%
Oriente Medio	4	22%
América del norte	2	11%

Fabricantes de automóviles

Integrado con 7 fabricantes automotrices principales para sistemas de seguimiento preinstalados.

• Las marcas incluyen: Volkswagen, Renault, Nissan
• Ingresos de integración anuales: $ 8.3 millones
• Sistemas de seguimiento integrados en 125,000 vehículos nuevos anualmente

Organizaciones gubernamentales y del sector público

Contratos activos con 22 entidades gubernamentales en múltiples jurisdicciones.

Sector	Número de contratos	Valor anual del contrato
Aplicación de la ley	9	$ 5.6 millones
Transporte público	8	$ 4.2 millones
Servicios de emergencia	5	$ 3.1 millones

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Icuran Ubication and Control Ltd. reportó gastos de I + D de $ 14.2 millones, lo que representa el 8.3% de los ingresos totales.

Año fiscal	Gastos de I + D ($)	Porcentaje de ingresos
2023	14,200,000	8.3%
2022	13,500,000	7.9%

Mantenimiento de la infraestructura tecnológica

Los costos anuales de mantenimiento de la infraestructura tecnológica para iuran en 2023 totalizaron $ 7.6 millones.

• Mantenimiento de la infraestructura en la nube: $ 3.2 millones
• Sistemas de red y comunicación: $ 2.4 millones
• Costos operativos del centro de datos: $ 2.0 millones

Inversiones de ventas y marketing

Los gastos de ventas y marketing para 2023 alcanzaron $ 22.1 millones.

Canal de marketing	Gastos ($)
Marketing digital	8,500,000
Publicidad tradicional	5,600,000
Operaciones del equipo de ventas	8,000,000

Costos de producción de hardware y software

Los gastos totales de producción de hardware y software en 2023 fueron de $ 45.3 millones.

• Fabricación de dispositivos de seguimiento del GPS: $ 28.6 millones
• Desarrollo de software: $ 12.4 millones
• Adquisición de componentes de hardware: $ 4.3 millones

Sobrecarga operativa y administrativa global

Global Operational and Administrative Shead para 2023 ascendió a $ 32.5 millones.

Categoría de gastos generales	Gastos ($)
Costos de personal	18,700,000
Instalaciones de oficina	5,800,000
Legal y cumplimiento	4,200,000
Administración corporativa	3,800,000

Icuran Ubication and Control Ltd. (ITRN) - Modelo de negocio: flujos de ingresos

Servicios de seguimiento basados ​​en suscripción

Iuran genera $ 127.3 millones en ingresos recurrentes anuales de los servicios de seguimiento en 2023. Las tarifas de suscripción mensuales varían de $ 12.99 a $ 39.99 por vehículo, dependiendo del nivel de servicio.

Nivel de servicio	Precio mensual	Contribución anual de ingresos
Seguimiento básico	$12.99	$ 37.2 millones
Seguimiento avanzado	$24.99	$ 62.5 millones
Seguimiento premium	$39.99	$ 27.6 millones

Venta e instalación de hardware

Las ventas de hardware generaron $ 43.6 millones en 2023, con costos promedio de dispositivos que van desde $ 129 a $ 349 por unidad.

• Dispositivo de seguimiento del GPS: $ 129
• Dispositivo telemático avanzado: $ 249
• Dispositivo de administración de flota: $ 349

Comisiones de reducción de primas de seguro

Iuran recibe $ 8.2 millones anuales de asociaciones de seguro, ganando aproximadamente 15-20% de la Comisión de Reducciones de Premios.

Servicios de análisis de datos e informes

Los servicios de análisis de datos empresariales generaron $ 22.7 millones en 2023, con modelos de precios que van desde $ 499 a $ 2,999 por contrato empresarial mensual.

Contratos de soluciones empresariales

Los contratos empresariales totalizaron $ 56.4 millones en 2023, con un valor de contrato promedio de $ 1.2 millones por cliente empresarial.

Tipo de contrato	Valor promedio	Ingresos anuales totales
Pequeña empresa	$350,000	$ 14.2 millones
Empresa media	$750,000	$ 22.5 millones
Gran empresa	$1,500,000	$ 19.7 millones

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Value Propositions

You're looking at the core value Ituran Location and Control Ltd. (ITRN) delivers to its customers, which is really about asset protection and operational intelligence. It's not just about selling hardware; it's about the service layer built on top of it, which is where the real, measurable value lands.

The most dramatic value proposition is definitely in High-success-rate Stolen Vehicle Recovery (SVR). This isn't theoretical; it's backed by serious numbers. Since 2006, Ituran Location and Control Ltd. (ITRN) has recovered over 200,000 stolen vehicles worldwide, totaling more than $3 billion in recovered asset value. For vehicles fitted with their technology, the average recovery rate is around 80%, with some reports citing an almost 85% success rate, often achieving recovery within 30 to 60 minutes. To be fair, this performance is more than four times the global average for recovery without specialist tracking, which often sits in the 10-20% range.

This core SVR strength feeds directly into the Connected-car services and Fleet management and mobile asset control services for businesses. The value here is real-time visibility and control, which translates to lower insurance costs and better operational efficiency for fleet managers. Ituran Location and Control Ltd. (ITRN) serves over 2.5 million subscribers globally, reaching 2,588,000 as of the end of the third quarter of 2025. This scale is being actively grown; the company reiterated expectations to add between 220,000 and 240,000 net new subscribers in 2025. The value is cemented through major OEM partnerships, like the new three-year service agreement signed with Renault in Latin America in November 2025, and the prior announcement of a contract with Stellantis in the same region.

The financial underpinning of these services is clear when you look at the recurring revenue. For the third quarter of 2025, subscription fees, which cover these services, hit $67.6 million, making up 73% of total revenues of $92.3 million. This recurring stream shows the stickiness of the service value. Here's the quick math: subscription revenue grew 13% year-over-year in Q3 2025.

The company is also pushing into newer, data-driven value streams:

• IturanMOB smart-mobility solution for shared-mobility and rental-fleet efficiency: This platform, which enables remote vehicle access and real-time telematics, launched operations in the United States during the third quarter of 2025, following solid traction in Brazil.
• Usage-Based Insurance (UBI) data services for insurance partners: This is seeing good traction in Israel, providing data that helps insurers price risk more accurately.

The overall value proposition can be summarized by the scale of the service relationships:

Value Component	Metric/Data Point (As of Late 2025)	Context/Period
Total Subscribers	2,588,000	As of September 30, 2025
SVR Value Recovered	Over $3 billion	Since 2006
Annual SVR Recovery Value	Around $300 million	In 2024
Subscription Revenue	$67.6 million	Q3 2025
Service Revenue Share	73%	Of Q3 2025 Total Revenue

The company is defintely moving beyond just recovery to embed itself deeper into the connected car ecosystem via OEM deals with major players like Renault and Stellantis in Latin America. Finance: draft 13-week cash view by Friday.

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Customer Relationships

You're looking at how Ituran Location and Control Ltd. keeps its customers locked in, which is all about that recurring subscription revenue. The model is built for the long haul, evidenced by their consistent subscriber growth and strong gross margins on those services.

The recurring subscription model is the backbone, with subscription fees making up a significant chunk of total revenue. For the third quarter of 2025, subscription fees hit $67.6 million, which was a 13% year-over-year increase. That revenue stream represented 73% of the total revenue for that quarter. Retention appears high, as the company is on track to add between 220,000 and 240,000 net new subscribers for the full year 2025.

Here's a quick look at the subscriber base growth leading up to the end of Q3 2025:

Metric	Q1 2025 End Subscriber Count	Q3 2025 End Subscriber Count	Q3 2025 Net Adds (Quarterly)
Subscriber Base	2,508,000	2,588,000	40,000
Subscription Revenue (Quarterly)	$62.2 million	$67.6 million	N/A
Subscription Gross Margin	58.3%	60.1%	N/A

For your B2B segments, Ituran Location and Control Ltd. deploys dedicated teams to manage relationships with OEM (Original Equipment Manufacturer) and fleet partners. They are the largest OEM telematics provider in Latin America. A major recent win involved deepening collaboration with global OEMs like Stellantis, which is the largest car manufacturer in Latin America. This partnership contributed to a record net addition of 99,000 subscribers in the first quarter of 2025. Also, they are expanding their direct B2B/fleet focus by launching IturanMOB, their smart-mobility solution for shared-mobility and rental-fleet applications, in the United States during the third quarter of 2025, following its success in Brazil.

The automated, real-time alerts and concierge services are delivered through their core offerings, which are used by customers in over 20 countries. These services focus on:

• Stolen Vehicle Recovery (SVR)
• Fleet management solutions
• Mobile asset location, management & control
• New products seeing solid traction, like telematics for motorcycle owners

Direct customer support handles SVR incidents and technical issues across their global footprint. Ituran Location and Control Ltd. has over 3,000 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, the United States, and Canada, supporting this service structure.

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Channels

You're looking at how Ituran Location and Control Ltd. gets its value proposition-location-based services and telematics-into the hands of its customers. This is a multi-pronged approach, blending direct relationships with large manufacturers and a broad service network.

The distribution strategy relies on a mix of high-volume OEM integration and direct service delivery, which is reflected in the revenue mix. For the third quarter of 2025, 73% of Ituran Location and Control Ltd.'s revenues came from location-based service subscription fees, with the remaining 27% coming from product revenues.

Here is a breakdown of the key channels Ituran Location and Control Ltd. uses:

Direct sales channels to major OEM partners like Stellantis.

• Ituran Location and Control Ltd. is recognized as the largest OEM telematics provider in Latin America.
• The company is deepening collaborations with global OEMs, specifically mentioning Stellantis, to bolster stolen vehicle recovery services.
• Management noted adding additional OEM partners during the third quarter of 2025.

Insurance companies and car importers who bundle the service with vehicle sales.

Ituran Location and Control Ltd. serves the insurance and financing industries directly, often bundling its Stolen Vehicle Recovery or telematics services at the point of sale. This channel also includes working with Car Importers & Distributors.

Direct-to-consumer sales and installation network across 26+ countries.

The company maintains a significant global footprint for direct sales and installation, supporting its large subscriber base. As of late 2025, Ituran Location and Control Ltd.'s products and applications are used by customers in over 26 countries. The subscriber base reached 2,588,000 by the end of September 2025. Offices are maintained in key markets including Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada, and the United States.

B2B sales for fleet and shared-mobility operators (IturanMOB).

The smart-mobility solution, IturanMOB, is a dedicated channel targeting B2B fleet management. This solution enables remote vehicle access and efficient fleet management for shared-mobility and rental-fleet applications.

• IturanMOB launched operations in the United States during the third quarter of 2025.
• The solution is already driving car-sharing growth, evidenced by a case study with Shlomo Sixt in Israel.
• Ituran Location and Control Ltd. also provides fleet management services to various industries, including Logistics, Food & Beverage, Construction, and Couriers & Last Mile Delivery.

You can see the scale of the business across these channels in the table below, using the latest reported figures:

Channel Metric	Value as of Late 2025 (Q3/Sept 30)	Context/Reference
Total Subscribers	2,588,000	End of September 2025
Geographic Reach (Countries)	Over 26	Stated operational scope
Q3 2025 Subscription Revenue	$67.6 million	Primary recurring revenue stream
Q3 2025 Revenue from Product Sales	27% of total revenue	Channel mix indicator
IturanMOB Launch Market (New in Q3 2025)	United States	Expansion of B2B channel
Key OEM Channel Status	Largest OEM telematics provider in Latin America	Market leadership in a key segment

If onboarding for new OEM or insurance partners takes longer than expected, the growth in the product revenue portion of the mix could be volatile, as seen by the Q2 2025 dip in product sales due to the war in Israel. Finance: draft 13-week cash view by Friday.

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Customer Segments

You're looking at the core groups Ituran Location and Control Ltd. serves as of late 2025, based on their latest reported figures.

Individual vehicle owners, especially in high-theft regions like Israel and Latin America represent a significant portion of the installed base. By the end of the third quarter of 2025, Ituran Location and Control Ltd. had a total subscriber base of 2,588,000 subscribers. The company is on track to add between 220,000 and 240,000 net new subscribers in the full year 2025. The geographic revenue breakdown for Q3 2025 shows Israel contributing 55% of revenues, and Brazil contributing 23%. This indicates a heavy reliance on the individual owner segment in these key markets for their Stolen Vehicle Recovery (SVR) services.

Large automotive OEMs (Original Equipment Manufacturers) and car importers are a growing channel for embedding services directly. A significant example is the agreement signed with Stellantis, where Ituran Location and Control Ltd. began providing services to their SVR subscriber base in March 2025. The company continues to bring additional OEM partners to its roster.

Commercial fleet operators and logistics companies are served through the Telematics services segment, which includes fleet management services. This segment is also targeted by the newer smart-mobility solution, IturanMOB, which offers efficient fleet management. Ituran Location and Control Ltd. operates in countries including Argentina, Colombia, Mexico, and Ecuador, where fleet management is a key offering alongside SVR.

Insurance companies utilizing SVR and UBI data to mitigate risk are crucial partners, particularly in core markets. In Israel, insurance companies encourage or require customers to subscribe to SVR services for mid-to-high end vehicles and offer premium discounts for subscription. Similarly, in Brazil, insurance companies directly lease telematics products and mandate Ituran Location and Control Ltd.'s SVR services for their customers. The company also recently expanded its addressable market by securing partnerships, including one with Yamaha in August 2025, to target the large base of motorcycle customers.

Shared-mobility and rental-fleet companies (IturanMOB launch in the US) represent a new growth engine. Following success in Brazil, Ituran Location and Control Ltd. launched its IturanMOB smart-mobility solution in the United States during the third quarter of 2025. This solution specifically targets remote vehicle access, real-time telematics, and efficient fleet management for these types of operators.

Here's a quick look at the scale and geographic focus as of the third quarter of 2025:

Metric	Value as of September 30, 2025
Total Subscribers	2,588,000
Q3 2025 Net Subscriber Adds	40,000
2025 Net Subscriber Add Target Range	220,000-240,000
Q3 2025 Revenue	$92.3 million
Q3 2025 Subscription Revenue	$67.6 million

The customer base is served through various channels and product types:

• SVR services are a core offering in high-theft regions.
• Fleet management services are provided to commercial operators.
• New product traction noted for motorcycle owners as of August 2025.
• Operations span over 20 countries globally.
• Ituran Location and Control Ltd. is the largest OEM telematics provider in Latin America.

Finance: draft 13-week cash view by Friday.

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Cost Structure

You're looking at the expenses that keep Ituran Location and Control Ltd. running its global tracking and control operations. Honestly, for a company with a subscriber base hitting 2,588,000 as of September 30, 2025, the cost structure is heavily weighted toward maintaining that infrastructure and growing the service side of the business.

The fixed costs associated with running global control centers and the necessary recovery infrastructure are substantial. While I don't have a specific dollar figure for the total fixed overhead, these centers are the backbone of the service offering, meaning they represent a significant, ongoing commitment regardless of short-term subscriber fluctuations.

When we look at the Cost of Goods Sold (COGS), it's tied directly to the hardware sales. For the third quarter of 2025, the gross margin on product revenues was 23.6%. Here's the quick math on the product side for Q3 2025:

Metric	Amount (Q3 2025)
Product Revenues	$24.7 million
Product Gross Margin	23.6%
Product Gross Profit	Approximately $5.83 million
Estimated Product COGS	Approximately $18.87 million

Personnel costs are a major component, given the scale of operations across more than 20 countries. As of late 2024, Ituran Location and Control Ltd. had approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada, and the United States. That number is likely higher in late 2025, but 2,800 is the last concrete figure we have for that global team.

Technology and Research & Development (R&D) expenses are crucial for developing those new telematics products that keep the value proposition fresh. For the second quarter of 2025, the latest explicit figure I can pull shows Research and Development expenses were $5,058 thousand (or $5.058 million). This spend supports traction in new areas, like the IturanMOB service launch in the US for rental fleets.

Acquiring those new subscribers requires investment in marketing and sales. For the third quarter of 2025, the Selling and marketing expenses totaled $13,491 thousand (or $13.491 million). This spend helped add 40,000 net subscribers in that same quarter.

To summarize the key operational expenses from the latest available data, you see where the cash is going:

• Selling and marketing expenses (Q3 2025): $13.491 million
• Research and development expenses (Q2 2025): $5.058 million
• Personnel base (approximate headcount): 2,800 employees
• Global Control Center Operations: High fixed cost base

Finance: draft 13-week cash view by Friday.

Ituran Location and Control Ltd. (ITRN) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Ituran Location and Control Ltd. (ITRN)'s value capture as of late 2025. The revenue mix tells a clear story about where the real, sticky money is coming from. It's not just about selling boxes; it's about the ongoing service.

The total top-line performance for the third quarter ended September 30, 2025, hit a record high. Total Q3 2025 revenue was $92.3 million, which is an 11% increase when you stack it up against the third quarter of 2024. That growth shows the business is scaling effectively.

Here's the quick math on how that $92.3 million was composed. The recurring revenue stream is the dominant factor, which is what investors like to see for predictability.

Revenue Component	Q3 2025 Amount (USD)	Percentage of Total Revenue
Recurring Subscription Fees	$67.6 million	73%
Product Revenues (Hardware Sales)	$24.7 million	27%
Total Revenue	$92.3 million	100%

The subscription fees for telematics services are the bedrock here. That $67.6 million in recurring revenue is up 13% year-over-year, showing strong momentum in the subscriber base. Product revenues, which come from selling the telematics hardware, contributed $24.7 million in the quarter.

Geographically, the business remains heavily weighted toward its home base, though expansion is clearly underway. The revenue streams break down by region, with one market clearly leading the pack:

• Recurring subscription fees for telematics services were $67.6 million in Q3 2025, representing 73% of total revenue.
• Product revenues from the sale of telematics hardware were $24.7 million in Q3 2025.
• Revenue from the largest geographic segment, Israel, accounted for 55% of Q3 2025 revenue.
• Total Q3 2025 revenue was $92.3 million, showing an 11% increase year-over-year.

The fact that Israel accounts for 55% of the revenue means any shift in that market definitely moves the needle for Ituran Location and Control Ltd. (ITRN). Finance: draft 13-week cash view by Friday.