Silver Spring Networks is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. Its networking platform enables customers to communicate with devices connected to the power grid. The platform comprises hardware, such as access points and relays, communications modules, SilverLinkOS network operating software, and GridScape management and security software.
TypeSubsidiary
Parent CompanyItron
HQSan Jose, US
Founded2002
Websitesilverspringnet.com
Silver Spring was founded in 2002 and is headquartered in San Jose, US
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Key People/Management at Silver Spring

Michael Bell

Michael Bell

President, CEO
Catriona Fallon

Catriona Fallon

CFO
Rick Arnold

Rick Arnold

General Counsel & Secretary
Don Reeves

Don Reeves

SVP Services & Operations
Philippe Gaglione

Philippe Gaglione

Executive Vice President of Research and Development
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Silver Spring Office Locations

Silver Spring has offices in Singapore, San Jose, Las Vegas, Chicago and in 9 other locations
San Jose, US (HQ)
230 W Tasman Dr
Chicago, US
4025 Willis Tower 233 S Wacker Dr
Escondido, US
105 120 W Grand Ave
San Antonio, US
1200 300 Convent St
Melbourne, AU
25 360 Collins St
São Paulo, BR
1089 Av. Roque Petroni Júnior
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Silver Spring Financials and Metrics

Summary Metrics

Silver Spring is a subsidiary of Itron

Silver Spring Revenue

Silver Spring's revenue was reported to be $311.01 m in FY, 2016 which is a 36.5% decrease from the previous period.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

326.9m191.3m489.6m311.0m

Revenue growth, %

(41%)156%(36%)

Cost of goods sold

150.3m77.2m202.4m172.8b

Gross profit

176.5m114.1m287.1m(172.5b)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

72.5m44.2m41.6m28.0m143.6m77.2m69.5m48.6m122.0m74.2m50.3m261.6m

Cost of goods sold

49.3m32.8m28.2m26.7m72.2m57.2m36.5m31.6m57.4m45.9m33.4m205.0m

Gross profit

23.2m11.4m13.4m1.3m71.5m20.0m33.0m17.0m64.5m28.2m16.9m56.5m

Gross profit Margin, %

32%26%32%5%50%26%47%35%53%38%34%22%
Annual
usdY, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

42.7m71.7m72.6m82.6m60.5m65.3m50.4m

Accounts Receivable

69.7m54.7m47.8m44.8m

Inventories

4.8m5.1m10.8m8.0m

Current Assets

262.1m222.3m384.5m378.4m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

81.9m78.5m64.8m50.1m50.7m61.8m63.5m68.4m68.0m48.0m49.3m51.1m

Accounts Receivable

59.6m61.4m58.1m67.9m47.9m41.5m44.1m43.8m47.0m45.0m48.4m51.7m

Inventories

7.0m4.9m4.6m4.5m7.3m4.5m3.8m4.1m2.5m5.3m5.5m5.3m

Current Assets

281.5m246.6m228.0m216.0m362.6m371.9m376.4m403.7m378.4m371.5m387.8m219.1m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(66.8m)(89.2m)80.0m(21.6m)

Depreciation and Amortization

6.6m6.5m7.8m8.6m

Inventories

(1.2m)(724.0k)(5.1m)(3.5m)

Accounts Payable

2.8m(4.1m)3.1m(4.5m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(12.3m)(27.8m)(24.6m)(37.3m)34.9m18.7m18.1m(18.5m)7.6m(7.6m)(23.2m)(4.5m)

Depreciation and Amortization

1.5m3.9m5.9m2.1m4.2m6.3m2.2m4.5m

Inventories

(596.0k)4.6m4.5m7.3m2.2m3.0m470.0k2.1m(750.0k)2.5m2.8m

Accounts Payable

(3.1m)27.7m28.4m30.4m(2.4m)(131.0k)669.0k1.2m(8.9m)3.4m4.2m
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Silver Spring Operating Metrics

FY, 2014FY, 2015Q2, 2016Q3, 2016FY, 2016Q1, 2017

Billings

$276.71 m$281.92 m$71.85 m$76.14 m$294.60 m$67.95 m

Network Users

20 m22.90 m25.50 m

Patents (foreign)

141 155 171

Patents Pending (foreign)

76 74 68
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Silver Spring Revenue Breakdown

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Silver Spring revenue breakdown by geographic segment: 83.7% from United States, 14.0% from Australia and 2.3% from Other

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Silver Spring Online and Social Media Presence

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Silver Spring News and Updates

AMI Smart Water Management – Global Market Growth with Latest Industry Innovation including powerful manufacturer’s like - Landis+Gyr, Itron, GE Digital Energy, Siemens, Kamstrup, Sensus, Elster Group, Silver Spring Networks, Sanxing, Linyang Electronics,

Secondary research methodologies such as data collection from company websites, press releases, and several regional and global databases were undertaken for formulating the study. Posted via Industry Today. Follow us on Twitter @IndustryToday

EwingCole's Net Zero Designed Unisphere Opens in Silver Spring

SILVER SPRING, Md., Sept. 27, 2018 /PRNewswire/ -- EwingCole, one of the nation's leading architecture, engineering, and interior design firms, is pleased to announce that opening ceremonies for the six-story expansion of United Therapeutics' downtown campus took place on Friday,...

Silver Spring Foods Poised for Growth with New Management Team Members

EAU CLAIRE, Wis., Sept. 26, 2018 /PRNewswire/ -- Wisconsin-based Silver Spring Foods, the world's largest grower and processor of horseradish, today announced its goal to exceed 100 million pounds of production over the next 52 weeks following three new company executive appointments...

DC Auto Dealer, Koons of Silver Spring, Announces Washington Capitals Goalie, Braden Holtby, as new Spokesperson

SILVER SPRING, Md., Sept. 19, 2018 /PRNewswire/ -- Automotive dealer, Koons of Silver Spring, a multi-franchised Ford, Lincoln and Mazda dealership near Washington DC, announces Washington Capitals Goalie and 2018 Stanley Cup Champion, Braden Holtby, as their new Spokesperson. "We wanted...

Silver Spring Foods Horseradish Partners with Lambeau Field

EAU CLAIRE, Wis., Aug. 23, 2018 /PRNewswire/ -- Wisconsin-based Silver Spring Foods, the world's largest grower and processor of horseradish, is partnering with Lambeau Field, home of the Green Bay Packers, for the NFL season. Silver Spring Foods horseradish will be served wherever Bloody ...
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Silver Spring Company Life and Culture

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