Iteris, Inc. (NASDAQ:ITI) Q2 2023 Earnings Conference Call November 8, 2022 4:30 PM ET
Company Participants
Todd Kehrli - MKR Group
Joseph Bergera - President, CEO & Director
Douglas Groves - CFO, SVP & Secretary
Conference Call Participants
Ryan Sigdahl - Craig-Hallum
Jeff Van Sinderen - B. Riley Securities
Aditya Dagaonkar - Northland Capital Markets
Operator
Good day and welcome to the Iteris Fiscal Second Quarter 2023 Financial Results Conference Call. [Operator Instructions].
I would now like to turn the conference over to Todd Kehrli of MKR Investor Relations, please go ahead.
Todd Kehrli
Good afternoon everyone and thank you for participating in today's conference call to discuss Iteris's financial results for its fiscal 2023 second quarter ended September 30, 2022. Joining us today are Iteris's President and CEO, Mr. Joe Bergera and the company's CFO, Mr. Doug Groves. Following their remarks, we'll open the call for questions from the company's covering sell-side analysts.
Before we continue, we'd like to remind all participants that during the course of this call, we may make forward-looking statements regarding events or future performance of the company, which statements are based on current information are subject to change and are not guarantees of future performance. Iteris is not undertaking an obligation to provide updates to these forward-looking statements in the future. Actual results may differ substantially from what is discussed today and no one should assume that at a later date the company's comments from today will still be valid. Iteris refers you to the documents that the company files from time-to-time with the SEC, specifically the company's most recent forms 10-K, 10-Q and 8-K, which contain and identify important risk factors that could cause actual results to differ materially from those that are contained in any forward-looking statements.
As always, you will find webcast replay of today's call on the Investors section of the company's website at www.iteris.com. Now, I'd like to turn the call over to Iteris's, President and CEO, Mr. Joe Bergera. Joe, go ahead.
Joseph Bergera
Great, thank you, Todd and good afternoon to everyone. I appreciate all of you joining us today. For the fiscal 2023 second quarter, Iteris reported record total revenue of $39.3 million, representing an 18% increase year-over-year. This growth was due to the strong demand for our products and services, as well as the progress of our supply chain mitigation or improvement program that helped to unlock our quarterly Vantage sensor backlog. For reference, we reduced our fiscal 2023 second quarter unshipped Vantage backlog to $900,000.