Silver Spring

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.

Employee Rating

3.3More
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 San Jose, Chicago, Escondido, Honolulu and in 9 other locations
San Jose, US (HQ)
230 W Tasman Dr
Chicago, US
233 S Wacker Dr
Escondido, US
120 W Grand Ave #105
Honolulu, US
Honolulu, HI, USA
Las Vegas, US
Las Vegas, NV, USA
Miami, US
Miami, FL, USA
Show all (14)

Silver Spring Financials and Metrics

Summary Metrics

In total, Silver Spring had raised $369.2 m. 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

211.5m77.2m263.8m172.8m

Gross profit

115.4m114.1m225.7m138.2m
Quarterly
USDQ1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

53.7m103.5m72.5m44.2m41.6m28.0m143.6m77.2m69.5m48.6m122.0m74.2m50.3m261.6m47.6m

Cost of goods sold

43.6m55.3m49.3m32.8m28.2m26.7m72.2m57.2m36.5m31.6m57.4m45.9m33.4m205.0m33.8m

Gross profit

10.1m48.3m23.2m11.4m13.4m1.3m71.5m20.0m33.0m17.0m64.5m28.2m16.9m56.5m13.8m

Gross profit Margin, %

19%47%32%26%32%5%50%26%47%35%53%38%34%22%29%
Annual
usdY, 2010Y, 2011Y, 2012Y, 2013FY, 2013Y, 2014FY, 2014Y, 2015FY, 2015FY, 2016

Cash

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

Accounts Receivable

69.7m69.7m54.7m54.7m47.8m47.8m44.8m

Prepaid Expenses

4.8m5.1m10.8m

Inventories

4.8m4.4m5.1m6.7m10.8m4.5m8.0m
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

3.0m(2.3m)2.2m(3.5m)

Accounts Payable

2.8m(4.1m)3.1m(4.5m)
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Silver Spring Operating Metrics

FY, 2014FY, 2015FY, 2016

Backlog

$108 m$152 m$159.20 m

Customers

45 49 53

Patents (Foreign)

141 155 171

Patents (US)

72 95 110
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Silver Spring Revenue Breakdown

Embed Graph

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

Silver Spring Online and Social Media Presence

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Silver Spring News and Updates

TCSAccess Selects Silver Spring, Maryland for New Headquarters

TCS Associates, a nationally known leader providing Accessibility and Assistive Technology services for organizations with employees with disabilities, has rebranded. TCS Associates will now operate under the name TCSAccess. TCSAccess stands for Training, Compliance, Support, and Access – the four p…

Civitas Capital Group Closes on Dual-branded Hampton Inn by Hilton & Homewood Suites by Hilton in Silver Spring, Maryland

SILVER SPRING, Md., May 8, 2019 /PRNewswire/ -- Civitas Capital Group ("Civitas"), a leading independent specialty asset management and financial services firm, has closed on the acquisition of a dual-branded Hampton Inn by Hilton Silver Spring and Homewood Suites by Hilton Silver Spring...

Smart Gas Meters 201 Global Market Key Players - Cyan Technology, Landis+Gyr, Sensus, Edmi, Iskraemeco, Schneider Electric, Silver Spring Networks, Zenner, Linyang.......

Smart Gas Meters – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2023 Posted via Industry Today. Follow us on Twitter @IndustryToday

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...
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Silver Spring Blogs

Annual Energy Forecasting Survey

Itron’s forecasting group just launched their Annual Energy Survey. As we have done in previous years, we collect information to […]

Exploring the Energy-Water Nexus at DISTRIBUTECH 2020

Water and energy are the world’s two most critical resources to humanity and are fundamental components of a healthy society. […]

Catalyzing IoT Innovation to Bring Utilities and Communities Together

This week, we are excited to announce the Smart Community Challenge, Itron’s second edition competition that is designed to bring […]

Distributed Intelligence: Providing Value for Utilities

Utilizing multiple communications technologies, intelligent connectivity paves the way for distributed intelligence capabilities. It enables devices, applications and end users […]

Itron Delivering Innovation at DistribuTECH 2020

From safe, reliable and resilient critical infrastructure to efficient and connected communities, Itron is innovating how utilities and cities manage […]

Developing a Combined Operational Load Forecast

With the deep penetration of non-grid connected renewable generation and storage, electric vehicle charging, smart load control and time-of-use rates […]
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Silver Spring Frequently Asked Questions

  • When was Silver Spring founded?

    Silver Spring was founded in 2002.

  • Who are Silver Spring key executives?

    Silver Spring's key executives are Michael Bell, Catriona Fallon and Rick Arnold.

  • What is Silver Spring revenue?

    Latest Silver Spring annual revenue is $311 m.

  • Who are Silver Spring competitors?

    Competitors of Silver Spring include Sigfox, Enbala Power Networks and Loriot.

  • Where is Silver Spring headquarters?

    Silver Spring headquarters is located at 230 W Tasman Dr, San Jose.

  • Where are Silver Spring offices?

    Silver Spring has offices in San Jose, Chicago, Escondido, Honolulu and in 9 other locations.

  • How many offices does Silver Spring have?

    Silver Spring has 14 offices.