Stoneridge, Inc. (SRI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de la electrónica automotriz, Stoneridge, Inc. (SRI) emerge como una potencia tecnológica, transformando cómo piensan, se comunican y garantizan la seguridad. Con un modelo de negocio estratégico que une la innovación de vanguardia y la ingeniería de precisión de vanguardia, esta empresa global se ha posicionado como un jugador crítico en los sistemas de control automotriz, ofreciendo soluciones electrónicas sofisticadas que impulsan todo, desde camiones comerciales hasta vehículos de pasajeros. Su enfoque único combina capacidades tecnológicas avanzadas con profundas asociaciones de la industria, creando una narración convincente de cómo la tecnología automotriz moderna está diseñada, fabricada e integrada en diversos segmentos de vehículos.

Stoneridge, Inc. (SRI) - Modelo de negocios: asociaciones clave

Fabricantes de automóviles (OEM)

Stoneridge mantiene asociaciones estratégicas con los principales fabricantes de automóviles:

Socio de OEM	Detalles de la asociación	Valor de colaboración 2023
Ford Motor Company	Grupos de instrumentos electrónicos y módulos de control	$ 87.4 millones
General Motors	Sistemas de control de vehículos avanzados	$ 62.9 millones
Stellantis	Electrónica de vehículos comerciales	$ 53.6 millones

Proveedores de componentes automotrices de nivel 1

Stoneridge colabora con proveedores clave de nivel 1:

• Aptiv plc
• AG Continental
• Bosch GmbH
• Magna International

Proveedores de componentes electrónicos y de tecnología

Socio tecnológico	Enfoque tecnológico	2023 inversión
Instrumentos de Texas	Componentes semiconductores	$ 22.3 millones
Infineon Technologies	Microcontroladores automotrices	$ 18.7 millones
Semiconductores NXP	Electrónica automotriz avanzada	$ 16.5 millones

Investigación y desarrollo Socios colaborativos

Las asociaciones de I + D de Stoneridge incluyen:

• Instituto de Tecnología de Massachusetts (MIT)
• Universidad Carnegie Mellon
• Instituto de Investigación de Transporte de la Universidad de Michigan

Socios de red de fabricación y manufactura global

Ubicación de fabricación	Enfoque de fabricación principal	Volumen de producción 2023
México	Módulos de control electrónico	1,2 millones de unidades
Porcelana	Sensores automotrices	850,000 unidades
Polonia	Electrónica de vehículos comerciales	640,000 unidades

Stoneridge, Inc. (SRI) - Modelo de negocio: actividades clave

Diseñar y fabricar sistemas de control electrónico

A partir de 2023, Stoneridge invirtió $ 28.3 millones en investigación y desarrollo para sistemas de control electrónico. La compañía produjo aproximadamente 4.2 millones de unidades de control electrónico para vehículos comerciales y de pasajeros.

Categoría del sistema de control electrónico	Volumen de producción anual
Sistemas de vehículos comerciales	2.6 millones de unidades
Sistemas de vehículos de pasajeros	1.6 millones de unidades

Desarrollar tecnologías de seguridad y conectividad de vehículos

Stoneridge dedicó el 12.5% ​​de sus ingresos anuales al desarrollo de tecnología de seguridad y conectividad en 2023.

• Desarrolló 7 nuevas plataformas de tecnología de seguridad
• Innovaciones implementadas del Sistema de Asistencia del Conductor Avanzado (ADAS)
• Creó 3 nuevas soluciones de conectividad para vehículos comerciales

Producir instrumentación eléctrica para vehículos comerciales

En 2023, Stoneridge fabricó 1.9 millones de unidades de instrumentación eléctrica para vehículos comerciales con un valor de producción total de $ 215.6 millones.

Tipo de instrumentación	Producción anual
Grupos de instrumentos digitales	1,2 millones de unidades
Instrumentación analógica	0.7 millones de unidades

Ingeniería de precisión de electrónica automotriz

Stoneridge empleó a 1,247 profesionales de ingeniería en 2023, con un presupuesto de ingeniería de $ 42.1 millones centrado en el desarrollo electrónico automotriz de precisión.

• Certificación de calidad ISO 9001: 2015 mantenida
• Sistemas electrónicos basados ​​en microprocesadores desarrollados
• Implementados protocolos de prueba avanzados

Innovación continua en soluciones de tecnología de vehículos

La compañía presentó 14 nuevas patentes en 2023 e invirtió $ 36.7 millones en investigación de innovación y tecnología.

Categoría de innovación	Monto de la inversión
Tecnologías de vehículos eléctricos	$ 15.2 millones
Sistemas de vehículos autónomos	$ 12.5 millones
Soluciones de conectividad	$ 9 millones

Stoneridge, Inc. (SRI) - Modelo de negocio: recursos clave

Ingeniería avanzada y capacidades de I + D

Stoneridge, Inc. invirtió $ 37.2 millones en gastos de investigación y desarrollo en 2022. La compañía mantiene capacidades avanzadas de ingeniería en múltiples ubicaciones.

Ubicación de I + D	Enfoque especializado	Personal de ingeniería
Novi, Michigan	Sistemas de control electrónico	124 ingenieros
Monterrey, México	Electrónica de vehículos	89 ingenieros
Plymouth, Reino Unido	Tecnología de vehículos comerciales	62 ingenieros

Instalaciones de fabricación especializadas

Stoneridge opera instalaciones de fabricación en varios países.

• Instalaciones de fabricación total: 9 ubicaciones globales
• Huella de fabricación: Estados Unidos, México, China, Rumania, Reino Unido
• Total de fabricación de pies cuadrados: aproximadamente 750,000 pies cuadrados.

Patentes de propiedad y tecnología intelectual

Categoría de patente	Número de patentes activas	Inversión en patentes
Sistemas de control electrónico	47 patentes activas	Mantenimiento anual de patentes de $ 5.6 millones
Instrumentación del vehículo	32 patentes activas	Mantenimiento anual de patentes de $ 3.2 millones

Fuerza laboral técnica calificada

A partir de 2022, Stoneridge empleó a 2.800 empleados totales a nivel mundial.

• Fuerza laboral técnica: 1,240 empleados
• Fuerza laboral de ingeniería: 412 ingenieros especializados
• Experiencia técnica promedio de los empleados: 12.4 años

Centros de ingeniería y diseño global

Ubicación del centro de diseño	Enfoque de tecnología primaria	Tamaño del equipo de diseño
Novi, Michigan, EE. UU.	Electrónica avanzada	86 ingenieros de diseño
Monterrey, México	Sistemas integrados	62 ingenieros de diseño
Plymouth, Reino Unido	Soluciones de vehículos comerciales	45 ingenieros de diseño

Stoneridge, Inc. (SRI) - Modelo de negocio: propuestas de valor

Sistemas de control electrónico automotriz de alta calidad

Stoneridge, Inc. reportó $ 284.8 millones en ingresos de sistemas de control electrónico para 2022. La compañía proporciona soluciones electrónicas avanzadas con ingeniería de precisión para fabricantes de automóviles.

Categoría de productos	Ingresos anuales	Cuota de mercado
Unidades de control electrónico	$ 126.5 millones	7.2%
Tecnologías de sensores	$ 98.3 millones	5.9%

Tecnologías de seguridad de vehículos mejoradas

Stoneridge invirtió $ 42.3 millones en investigación y desarrollo para tecnologías de seguridad en 2022.

• Sistemas avanzados de asistencia al conductor (ADAS)
• Sistemas de control de estabilidad electrónica
• Tecnologías de evitación de colisiones

Soluciones de conectividad innovadoras

El segmento de conectividad generó $ 103.6 millones en ingresos durante 2022, lo que representa el 18.4% de los ingresos totales de la compañía.

Tecnología de conectividad	Ingresos anuales
Sistemas telemáticos	$ 67.2 millones
Plataformas de comunicación de vehículos	$ 36.4 millones

Instrumentación eléctrica personalizada para vehículos comerciales

El segmento de instrumentación de vehículos comerciales logró $ 157.2 millones en ventas para 2022.

• Grupos de instrumentos digitales
• Módulos de control electrónico
• Sistemas de visualización avanzados

Soluciones tecnológicas avanzadas para la industria automotriz

El ingreso total de soluciones tecnológicas alcanzaron los $ 442.5 millones en 2022, con una presencia en el mercado global en 15 países.

Segmento tecnológico	Penetración del mercado	Clientes globales
Electrónica automotriz	12.6%	47 fabricantes
Soluciones de ingeniería avanzada	8.3%	29 marcas automotrices

Stoneridge, Inc. (SRI) - Modelo de negocios: relaciones con los clientes

Asociaciones estratégicas a largo plazo con fabricantes de automóviles

Stoneridge, Inc. mantiene asociaciones estratégicas con fabricantes de automóviles clave, que incluyen:

Fabricante	Detalles de la asociación	Duración del contrato
Navistar internacional	Electrónica de vehículos comerciales	Acuerdo de suministro de varios años
Paccar Inc.	Sistemas de control eléctrico	Contrato de suministro a largo plazo
Grupo de volvo	Instrumentación avanzada del vehículo	Asociación estratégica en curso

Soporte técnico y consulta de ingeniería

Métricas de soporte técnico para 2023:

• Tiempo de respuesta promedio: 4.2 horas
• Calificación de satisfacción del cliente: 92.5%
• Tamaño del equipo de consulta de ingeniería: 47 especialistas

Desarrollo de productos colaborativos

Estadísticas de colaboración de desarrollo de productos:

Métrico	2023 datos
Proyectos de desarrollo conjunto	12 proyectos activos
Inversión de I + D	$ 48.3 millones
Nuevos lanzamientos de productos	7 innovaciones colaborativas

Servicio al cliente continuo y mantenimiento técnico

Indicadores de rendimiento del servicio al cliente:

• Centros de servicio globales: 6 ubicaciones
• Tiempo de resolución de reclamos de garantía: 3.7 días
• Disponibilidad de soporte técnico 24/7: 99.8% de tiempo de actividad

Innovación continua y soporte de actualización de tecnología

Tecnología actualizar las métricas de soporte:

Categoría de innovación	2023 inversión	Actualizaciones tecnológicas
Electrónica automotriz	$ 22.1 millones	5 actualizaciones principales del sistema
Sistemas de control eléctrico	$ 16.7 millones	3 plataformas de próxima generación

Stoneridge, Inc. (SRI) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2023, Stoneridge mantiene una fuerza de ventas directa dedicada de 127 representantes de ventas profesionales en los mercados globales. El equipo de ventas cubre segmentos automotrices clave con un ingreso anual promedio por representante de $ 3.2 millones.

Región de ventas	Número de representantes	Enfoque del mercado primario
América del norte	52	Vehículos comerciales
Europa	39	Vehículos de pasajeros
Asia Pacífico	36	Mercado de vehículos eléctricos

Ferias y conferencias comerciales de la industria automotriz

Stoneridge participa en 18 mayores ferias comerciales automotrices anualmente, con una inversión estimada de $ 1.5 millones en gastos de conferencia y exhibición.

• CES (Consumer Electronics Show)
• Transporte de IAA
• Exposición de ingeniería automotriz
• Congreso Mundial SAE

Documentación técnica en línea y plataformas de soporte

La infraestructura de soporte digital incluye:

• Sitio web de documentación técnica con 127,000 visitantes únicos anuales
• Portal de soporte en línea con acceso 24/7
• Catálogo de productos digitales con 3.250 especificaciones técnicas

Relaciones directas de fabricante de equipos originales (OEM)

Stoneridge mantiene relaciones directas con 42 fabricantes automotrices globales, que representan el 89% de su flujo de ingresos totales.

Categoría OEM	Número de relaciones directas	Contribución de ingresos
Fabricantes de vehículos comerciales	19	48% de los ingresos
Fabricantes de vehículos de pasajeros	15	31% de los ingresos
Fabricantes de vehículos eléctricos	8	10% de los ingresos

Redes de distribución global

La red de distribución abarca 37 países con 6 centros de distribución principales ubicados estratégicamente en todos los continentes.

Ubicación del centro de distribución	Volumen de envío anual	Área de cobertura
Estados Unidos	1,2 millones de unidades	América del norte
Alemania	850,000 unidades	Mercados europeos
Porcelana	650,000 unidades	Región del Pacífico de Asia

Stoneridge, Inc. (SRI) - Modelo de negocio: segmentos de clientes

Fabricantes de vehículos comerciales

Stoneridge atiende a fabricantes de vehículos comerciales con soluciones electrónicas especializadas. A partir de 2023, los ingresos del segmento de vehículos comerciales de la compañía fueron de $ 342.6 millones.

Clientes clave de vehículos comerciales	Penetración del mercado
Navista	32% de participación de mercado
Paciente	Cuota de mercado del 28%
Daimler Trucks	Cuota de mercado del 25%

Fabricantes de vehículos de pasajeros

El segmento de vehículos de pasajeros generó $ 287.4 millones en ingresos para Stoneridge en 2023.

• Ford Motor Company
• General Motors
• Stellantis
• Toyota

Productores de camiones y equipos de servicio pesado

El segmento de camiones de servicio pesado representó $ 215.9 millones en ingresos de 2023.

Principales productores de equipos	Valor anual del contrato
Volvo camiones	$ 87.5 millones
Kenworth	$ 62.3 millones

Fabricantes de vehículos agrícolas y de construcción

Los ingresos del segmento de vehículos agrícolas y de construcción alcanzaron $ 156.7 millones en 2023.

• John Deere
• Oruga
• Caso IH
• Agricultura de New Holanda

Integradores automotrices de electrónica y tecnología

El segmento de integración electrónica generó $ 198.2 millones en 2023.

Socios tecnológicos	Valor de colaboración
Bosch	$ 65.4 millones
AG Continental	$ 53.7 millones

Stoneridge, Inc. (SRI) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2022, Stoneridge, Inc. reportó gastos de I + D de $ 49.1 millones, lo que representa el 4.7% de los ingresos totales.

Año fiscal	Gastos de I + D ($ M)	Porcentaje de ingresos
2022	49.1	4.7%
2021	45.3	4.5%

Gastos de fabricación y producción

Los costos totales de fabricación para Stoneridge en 2022 fueron de $ 412.6 millones, con un desglose de la siguiente manera:

• Costos laborales directos: $ 87.3 millones
• Gastos de materia prima: $ 215.4 millones
• Sobrecoss de fabricación: $ 109.9 millones

Gestión de la cadena de suministro global

Los gastos operativos de la cadena de suministro para 2022 totalizaron $ 76.5 millones, que incluyen:

Categoría de costos de la cadena de suministro	Gasto ($ M)
Logística	32.7
Gestión de inventario	22.1
Obtención	21.7

Adquisición de fuerza laboral y talento

Los costos totales de recursos humanos y adquisición de talento en 2022 fueron de $ 93.2 millones:

• Salarios de los empleados: $ 68.4 millones
• Beneficios y compensación: $ 15.7 millones
• Reclutamiento y capacitación: $ 9.1 millones

Infraestructura y mantenimiento de la tecnología

Los gastos relacionados con la tecnología para 2022 ascendieron a $ 37.8 millones:

Categoría de costos tecnológicos	Gasto ($ M)
Infraestructura	22.5
Licencia de software	8.3
Ciberseguridad	7.0

Stoneridge, Inc. (SRI) - Modelo comercial: flujos de ingresos

Ventas de componentes del equipo original (OE)

En 2022, Stoneridge, Inc. reportó ventas de componentes OE de $ 782.3 millones, lo que representa el 65.4% de los ingresos totales de la compañía.

Categoría de productos	Ingresos ($ M)	Porcentaje de ventas de OE
Sistemas de control electrónico	412.5	52.7%
Instrumentación eléctrica	247.8	31.7%
Componentes mecánicos	122.0	15.6%

Piezas de posventa y sistemas de reemplazo

Los ingresos del mercado de accesorios en 2022 alcanzaron $ 214.6 millones, representando el 17.9% de los ingresos totales de la compañía.

• Piezas de mercado del mercado de vehículos comerciales: $ 126.3 millones
• Sistemas de reemplazo de vehículos de pasajeros: $ 88.3 millones

Servicios de licencias y consultoría de tecnología

La licencia de tecnología generó $ 47.2 millones en 2022, lo que representa el 3.9% de los ingresos totales.

Soluciones de ingeniería personalizadas

Los servicios de ingeniería personalizada contribuyeron con $ 89.5 millones a los ingresos de la compañía en 2022, lo que representa el 7.5% de los ingresos totales.

Ingresos del mercado de Electrónica Automotriz Global

Los ingresos totales del mercado de electrónica automotriz de Stoneridge para 2022 fueron de $ 1.197 mil millones.

Región geográfica	Ingresos ($ M)	Porcentaje de total
América del norte	542.6	45.3%
Europa	398.1	33.2%
Asia Pacífico	196.5	16.4%
Resto del mundo	59.8	5.1%

Stoneridge, Inc. (SRI) - Canvas Business Model: Value Propositions

You're looking at what Stoneridge, Inc. (SRI) offers to its customers, the core reasons they choose SRI over someone else. It boils down to safety tech, regulatory necessity, specialized components, and global reach, all underpinned by a push for better internal performance.

Enhanced safety and efficiency via MirrorEye® camera systems

Stoneridge, Inc. delivers improved driver visibility, which directly translates to safety and efficiency gains. The MirrorEye® Camera Monitor System replaces traditional mirrors with digital cameras, reducing blind spots and improving situational awareness for drivers of commercial vehicles and buses. This technology is gaining traction, evidenced by specific program wins.

• MirrorEye® set a quarterly sales record in Q2 2025, showing 21% growth relative to Q1 2025.
• The Electronics segment saw MirrorEye® sales grow 24% year-on-year in Q2 2025.
• A global MirrorEye program extension award in Q3 2025 has an estimated lifetime revenue of approximately $535 million, with peak annual revenue estimated around $140 million.
• The next-generation MirrorEye® MP II system ensures compliance with the European Union's General Safety Regulation (EU 2019/2144) by including features like a Blind Spot Information System (BSIS) and Moving Off Information System (MOIS).

Regulatory compliance with SMART 2 digital tachographs

The SMART 2 next-generation tachograph helps fleet operators meet complex European regulations for recording driving and rest times. This product line is a key driver in the Electronics segment.

• The SMART 2 tachograph set a quarterly sales record in Q1 2025.
• Stoneridge, Inc. announced a new OEM program award for the Smart 2 next generation tachograph in Q2 2025.

Precision control devices (e.g., park lock actuators, leak detection modules)

The Control Devices segment provides essential, high-precision components that are critical for vehicle function and safety, securing new business through direct OEM awards.

• In Q3 2025, Stoneridge, Inc. announced program awards for both a Leak Detection Module and a Park Lock Actuator.
• The Control Devices segment saw sequential sales increase of 10.6% to $63.0 million in Q1 2025.

Global supply and service for commercial and passenger vehicles

Stoneridge, Inc. maintains a global footprint, serving diverse end-markets including commercial, passenger, and off-highway vehicles across the Americas and Europe, with a focus on regional strength.

• In Q1 2025, OEM sales across the company increased by more than 60% in Stoneridge Brazil.
• Stoneridge Brazil Q3 2025 sales were $18.9 million, up 23.5% relative to Q2 2025, driven by higher OEM sales.
• About 91% of certain product sales are USMCA certified, supporting North American supply chain value.

Operational discipline driving margin expansion

Management focus on material costs and quality-related expenses is translating directly into improved profitability metrics, even as top-line revenue faces market volatility. Here's a quick look at the margin progression you are tracking:

Metric	Q1 2025 Result	Q3 2025 Result
Sales	$217.9 million	$210.3 million
Adjusted Gross Profit Margin	21.9%	20.8%
Adjusted Operating Income Margin	-0.2%	1.2%

The Electronics segment achieved an adjusted operating margin of 4.9% in Q1 2025. The adjusted EBITDA margin for Q1 2025 was 3.5% of sales, totaling $7.6 million. The Q3 2025 adjusted EBITDA margin was 4.4% of sales, or $9.3 million.

Finance: draft 13-week cash view by Friday.

Stoneridge, Inc. (SRI) - Canvas Business Model: Customer Relationships

Dedicated OEM sales and engineering support teams are critical, evidenced by the growth in program wins and regional performance.

Stoneridge Brazil saw its third quarter sales total $18.9 million, a 23.5% increase relative to the second quarter of 2025, with local OEM sales expanding by approximately 22% over the second quarter of 2025. This focus on local OEM expansion is a core strategy, as the first quarter of 2025 saw Stoneridge Brazil's local OEM business grow by 60% compared to the fourth quarter of 2024.

Long-term, high-touch relationships with key truck and bus manufacturers are solidified through significant product adoption and new contract wins. MirrorEye revenue increased by an impressive 24% relative to the fourth quarter of 2024 in the first quarter of 2025, driven by the system ramping up as standard equipment on several additional truck models. As of the third quarter of 2025, MirrorEye sales had increased by 78% year-to-date relative to the prior year. Furthermore, Stoneridge announced its largest business award in Stoneridge Brazil history in the second quarter of 2025. In the third quarter of 2025, the company announced an incremental $185 million of program awards and expansions, including a new MirrorEye OEM program with an additional truck manufacturer, which represents approximately $55 million of estimated lifetime revenue with an initial take rate assumption of 25% to 30%.

The company supports its aftermarket channel through specific programs.

• Stoneridge Accelerate, a Dealer Incentive Program, was introduced, supporting aftermarket sales.
• Stoneridge Brazil's third quarter 2025 sales included higher aftermarket sales.
• Stoneridge Brazil's third quarter 2024 sales also showed an increase due to higher aftermarket sales versus the third quarter of 2023.

Direct engagement at global industry events ensures visibility and direct consultation with major customers and industry stakeholders.

Event Name	Date(s) 2025	Focus/Showcased Product(s)
AGRITECHNICA 2025	November 9-15	MirrorEye CMS for agricultural market; Orlaco Digital MultiView Vision System.
Busworld Europe 2025	October 4-9	Next-generation MirrorEye CMS for bus and coach market.
COMVEC 2025	September 16-18	Advanced vision solutions and Cockpit of the Future.
BAUMA 2025	April 7-13	Orlaco Vision Systems and MirrorEye Camera Monitor System.
ProMat 2025	March 17-20	MirrorEye Camera Monitor System and Orlaco Vision Systems.
LogiMAT 2025	March 11-13	MirrorEye Camera Monitor system and Orlaco Vision Systems.

Technical consulting for product integration and customization is a key part of securing major OEM contracts. The Electronics segment's year-to-date performance in 2025 was driven by the annualization and launch of MirrorEye OEM programs. The company is actively working to expand its portfolio in Brazil to align with global growth initiatives and further expand local OEM programs to support global customers.

The total program awards announced in Q3 2025, excluding the new MirrorEye award, included several for Control Devices. Stoneridge had total debt of $203.2 million as of March 31, 2025, and $164.4 million as of June 30, 2025, showing debt management alongside customer program execution.

Stoneridge, Inc. (SRI) - Canvas Business Model: Channels

You're looking at how Stoneridge, Inc. gets its products-electronic systems and technologies for transportation-into the hands of its customers as of late 2025. The channels are a mix of direct, high-volume OEM relationships and a more distributed aftermarket approach.

Direct sales to global Original Equipment Manufacturers (OEMs) form a critical artery for Stoneridge, Inc.'s revenue. This channel is heavily supported by the global sales force targeting commercial vehicle end markets. For the third quarter ended September 30, 2025, Stoneridge, Inc. reported total sales of \$210.3 million. The full-year 2025 revenue guidance was updated to a range of \$860 million to \$870 million, with a midpoint of \$865 million. The company is actively building its future direct channel pipeline, announcing new program awards in Q3 2025 totaling over \$185 million of estimated lifetime revenue. This includes a new MirrorEye® OEM program with an additional truck manufacturer expected to launch in 2028, carrying an estimated lifetime revenue of \$55 million.

The Stoneridge Brazil segment serves as a dedicated channel for the South American market, showing strong sequential growth. For the third quarter of 2025, Stoneridge Brazil sales reached \$18.9 million, which was an increase of \$3.6 million, or 23.5%, compared to the second quarter of 2025. This growth was driven by higher local OEM sales, which expanded by approximately 22% relative to the second quarter. Relative to the third quarter of 2024, Stoneridge Brazil sales increased by \$5.2 million, or 38.4%.

While OEM sales are central, the aftermarket distribution network is essential for replacement parts and upgrades, providing a revenue stream less dependent on new vehicle production cycles. The Q3 2025 performance in Stoneridge Brazil specifically cited higher aftermarket sales as a driver alongside OEM sales. Furthermore, direct sales for new market applications, such as the off-highway sector, contribute to the overall mix, though specific revenue attribution for this channel is embedded within the segment results. The Electronics segment, for example, saw record sales for its MirrorEye® camera-monitor systems, which grew 24% year-on-year in Q1 2025, benefiting from strong global bus demand.

The global sales force focused on commercial vehicle end markets navigates the challenges in these primary channels. The company noted that the updated full-year 2025 revenue guidance reflected customer production volume reductions, primarily in the North American commercial vehicle end market. The Electronics segment's Q3 2025 sales were \$128.0 million, a decrease of 14.4% relative to the second quarter of 2025, primarily due to lower customer production volumes in that market. The company expects its MirrorEye® technology to contribute approximately \$120 million in revenue for the full year 2025.

Here's a look at the segment results that feed these channels for the third quarter of 2025:

Segment	Q3 2025 Sales (USD in millions)	Sequential Sales Change (vs. Q2 2025)	Year-over-Year Sales Change (vs. Q3 2024)
Total Company Sales	210.3	Down 7.8%	Down 1.67%
Electronics Segment Sales	128.0	Down 14.4%	Down 5.6%
Stoneridge Brazil Sales	18.9	Up 23.5%	Up 38.4%

The company is actively working to bolster its channel strength through technology adoption:

• MirrorEye® revenue growth was 24% sequentially in Q1 2025 over Q4 2024.
• New business awards in Q3 2025 included a Leak Detection Module and Park Lock Actuator program with Ford driving lifetime revenue of approximately \$130 million.
• The Control Devices segment saw sales increase by 10.6% sequentially in Q1 2025 to \$69.9 million.
• For the nine months ended September 30, 2025, total sales were \$656.11 million.

The sales force is tasked with converting these technological advancements into firm OEM commitments, which is reflected in the backlog building. Finance: draft 13-week cash view by Friday.

Stoneridge, Inc. (SRI) - Canvas Business Model: Customer Segments

You're looking at how Stoneridge, Inc. (SRI) divides up its customer base, which is heavily weighted toward large vehicle producers. Honestly, the data we have shows a very clear focus on the Original Equipment Manufacturers (OEMs).

For the fiscal year 2024, Stoneridge, Inc. derived approximately 95% of its net sales from the commercial, automotive, off-highway, and agricultural vehicle markets combined. The remaining approximately 5% came from aftermarket distributors and monitoring services markets. This concentration means that the health of those large vehicle production lines directly impacts SRI's top line; for instance, Q3 2025 revenue of $210.3 million was noted as being impacted by reduced customer production volumes, primarily in the North American commercial vehicle end market.

Here is a breakdown of the key customer groups Stoneridge, Inc. serves, mapping them to the segments where we see the most recent sales data:

• Commercial Vehicle OEMs (truck, bus, coach manufacturers): This group is a core focus, evidenced by the announcement of a new MirrorEye OEM program award with an additional truck manufacturer in Q3 2025. The largest single award in company history, an estimated $535 million in lifetime revenue, is tied to a MirrorEye program expected to see peak take rates higher than 80% for heavy-duty commercial vehicles sold in Europe.
• North American passenger vehicle manufacturers: While the European commercial market shows strong MirrorEye adoption, North American take rates for that specific technology were noted as being in line with current expectations due to the market's relative immaturity as of Q2 2025.
• Aftermarket distributors and service centers: This group contributes to the smaller portion of sales, which was approximately 5% of net sales in 2024. Stoneridge Brazil saw higher aftermarket sales contributing to its Q3 2025 sales of $18.9 million.
• Off-highway equipment manufacturers (e.g., agriculture, construction): These manufacturers fall within the 95% of net sales derived from vehicle markets in 2024. The Control Devices segment secured an award for a Leak Detection Module, which serves these types of applications.
• Fleet operators requiring regulatory compliance (e.g., tachograph users): While specific revenue is not broken out, monitoring services were part of the approximately 5% of net sales from aftermarket and monitoring services in 2024.

We can look at the Q3 2025 segment sales to see where the revenue actually landed for that period:

Segment/Product Group	Q3 2025 Sales Amount	Context/Note
Electronics Segment (Includes some OEM sales)	$128.0 million	Decreased by 14.4% relative to Q2 2025.
Control Devices Segment	$72.5 million	An increase of 1.9% relative to Q2 2025.
Stoneridge Brazil (OEM/Aftermarket)	$18.9 million	An increase of 23.5% relative to Q2 2025.
Total Company Sales	$210.3 million	Full-year 2025 revenue guidance updated to the low end: $860 million - $870 million.

Also, you should note the specific OEM wins that point to future revenue streams. For example, Stoneridge Brazil was awarded an infotainment ECU program for a passenger vehicle OEM, estimated to generate $85 million in lifetime revenue, with a peak annual revenue of approximately $20 million. This is the largest OEM award in Stoneridge Brazil's history.

Stoneridge, Inc. (SRI) - Canvas Business Model: Cost Structure

You're looking at the cost side of Stoneridge, Inc.'s operations as of late 2025. It's a mix of ongoing material pressures, investment in future tech, and managing a global footprint. Honestly, profitability hinges on controlling these outflows while ramping up key product lines.

High material costs, a focus area for improvement

Direct material costs remain a critical lever for gross margin. For the third quarter of 2025, the company noted that direct material costs improved by 200 basis points compared to the prior quarter, showing active management efforts. Still, the cost environment is tough; for instance, in the Control Devices segment, overhead costs were noted as being up partly due to tariff-related costs in Q3 2025. This suggests that supply chain volatility continues to pressure the cost of goods sold (COGS).

Significant Selling, General & Administrative (SG&A) expenses

SG&A is a key area where Stoneridge, Inc. is seeking leverage. The improvement in the third quarter of 2025 adjusted operating margin was partly attributed to lower SG&A costs compared to Q2 2025. However, looking back to the end of 2024, higher SG&A costs were cited as a driver for a margin decline in Q4 2024, showing this line item can fluctuate based on operational needs and market conditions. Managing structural costs is definitely on the executive radar.

Research, development, and engineering (D&D) costs for new products

Investment in future value, seen through D&D, is a necessary cost. For Q3 2025, the reduction in D&D costs contributed to the quarter-over-quarter improvement in the adjusted operating margin. This contrasts with Q4 2024, where higher D&D costs, largely due to a reduction in customer reimbursements, negatively impacted the margin. The company is clearly balancing R&D spending with customer funding arrangements for new products like MirrorEye®.

Manufacturing and operational costs across global facilities

Operational efficiency directly impacts the bottom line, especially across a global manufacturing base. A major focus has been on quality; Stoneridge, Inc. achieved a $5.3 million reduction in quality-related costs year-to-date through September 30, 2025, relative to the prior year period. The company is actively working to manage its structural costs and improve manufacturing efficiencies to counter headwinds from lower sales volumes. For Q3 2025, total sales were $210.3 million.

Here's a quick look at how some key cost/performance indicators stacked up in Q3 2025:

Metric	Value (Q3 2025)	Context/Driver
Sales	$210.3 million	Base for operational cost leverage
Gross Profit Margin (GAAP)	20.3%	($42.8 million)
Adjusted Gross Profit Margin	20.8%	Reflects material cost improvement
Quality-Related Cost Reduction (YTD)	$5.3 million	Improvement vs. prior year
Direct Material Cost Change (QoQ)	Improved by 200 bps	Positive driver for gross margin
Adjusted Operating Margin	1.2%	Improved 100 bps vs. Q2 2025

Interest expense on total debt of $171.1 million (as of Q3 2025)

You must account for the cost of capital. As of September 30, 2025, Stoneridge, Inc. reported total debt of $171.1 million. This debt level resulted in a net debt of $117.2 million (cash and cash equivalents were $54.0 million). The company's compliance leverage ratio for its Credit Facility was 3.67x against a maximum requirement of 4.50x as of Q3 2025. The Credit Facility itself is set to mature on November 2, 2026. Finance: draft 13-week cash view by Friday.

Stoneridge, Inc. (SRI) - Canvas Business Model: Revenue Streams

You're looking at how Stoneridge, Inc. (SRI) brings in its money as of late 2025. It's a mix of established product lines and newer, high-growth technology like MirrorEye®.

The core revenue generation is split across three operating segments, with Electronics being the powerhouse, largely driven by its advanced camera monitoring system.

Here's a breakdown of the key revenue components based on recent performance and forward-looking statements:

• Sales of Electronics products (largest segment, including MirrorEye®): This segment is the primary revenue driver. MirrorEye® specifically set another quarterly sales record in Q2 2025. The Electronics segment recorded sales of $140.5 million in the first quarter of 2025. The expected full-year 2025 revenue target for MirrorEye® was approximately $120 million. A major global MirrorEye program extension announced in Q2 2025 is estimated to generate peak annual revenue of approximately $140 million.
• Sales of Control Devices to passenger and commercial vehicle markets: This segment includes actuators, sensors, and switches. Control Devices saw sequential sales increase of 10.6% to $69.9 million in Q1 2025.
• Sales from Stoneridge Brazil segment (OEM and aftermarket): This segment showed strong growth, with Q3 2025 sales reaching $18.9 million, which was up 23.5% relative to Q2 2025. Stoneridge Brazil secured its largest-ever OEM business award in the segment, estimated to generate peak annual revenue of approximately $20 million.

To give you the big picture for the fiscal year 2025, the company has set specific financial targets:

Financial Metric	Guidance/Actual Figure (2025)
Full-Year 2025 Revenue Guidance	$860 million to $870 million
Adjusted EBITDA Guidance (Full-Year 2025)	$30 million to $32 million
Trailing Twelve Months (TTM) Revenue (as of late 2025)	$874.36 million
Q3 2025 Sales	$210.3 million

The revenue guidance update to the low end of the range reflects lower production volume expectations, primarily in North American and European commercial vehicle markets. Still, growth drivers like MirrorEye are expected to offset some of these macroeconomic headwinds.

You can see how the segments contributed recently in this table:

Segment	Latest Reported Sales Figure	Context/Growth Note
Electronics	$140.5 million	Q1 2025 sales; supported by 24% growth in MirrorEye revenue
Control Devices	$69.9 million	Q1 2025 sales; 10.6% sequential increase
Stoneridge Brazil	$18.9 million	Q3 2025 sales; 23.5% sequential increase

Finance: draft 13-week cash view by Friday.