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.
Type
Subsidiary
Parent Company
Itron
HQ
San Jose, US
Founded
2002
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

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 Financials

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

326.9 m191.3 m489.6 m311 m

Revenue growth, %

(41%)156%(36%)

Cost of goods sold

150.3 m77.2 m202.4 m172.8 b

Gross profit

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

Revenue

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

Cost of goods sold

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

Gross profit

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

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

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

Accounts Receivable

69.7 m54.7 m47.8 m44.8 m

Inventories

4.8 m5.1 m10.8 m8 m

Current Assets

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

Cash

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

Accounts Receivable

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

Inventories

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

Current Assets

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

Net Income

(66.8 m)(89.2 m)80 m(21.6 m)

Depreciation and Amortization

6.6 m6.5 m7.8 m8.6 m

Inventories

(1.2 m)(724 k)(5.1 m)(3.5 m)

Accounts Payable

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

Net Income

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

Depreciation and Amortization

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

Inventories

(596 k)4.6 m4.5 m7.3 m2.2 m3 m470 k2.1 m(750 k)2.5 m2.8 m

Accounts Payable

(3.1 m)27.7 m28.4 m30.4 m(2.4 m)(131 k)669 k1.2 m(8.9 m)3.4 m4.2 m
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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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