Identiv, Inc. reports developments in RFID- and Bluetooth Low Energy-enabled Internet of Things solutions that give physical products digital identities. Company news centers on RFID inlays, tags, labels, ID-Safe HF and NFC tags, BLE smart labels, and applications in healthcare, logistics, consumer electronics, luxury goods, smart packaging, pharmaceuticals, food and beverage, and retail.
Recurring updates include quarterly financial results, earnings calls, customer and supply agreements, product authentication and tamper-detection offerings, cold-chain tracking partnerships, and manufacturing capabilities for multicomponent RFID and BLE tags. News also covers the completed move of manufacturing from Singapore to Bangkok, Thailand, and operational updates tied to its Perform-Accelerate-Transform strategy.
Identiv, Inc. (NASDAQ: INVE) will be included in the Russell 2000® and Russell 3000® Indexes starting June 28, 2021. This milestone underscores the company's strong operational execution, highlighted by a 22% year-over-year growth in Q1 2021. CEO Steven Humphreys emphasized that joining these indexes will enhance Identiv's visibility to investors and reflect its growth potential in the RFID and digital security markets. The Russell indexes are determined by market capitalization, ranking the largest U.S. stocks.
Identiv, a leader in digital security and identification, reported a 22% year-over-year increase in total revenue to $22.2 million for Q1 2021, driven by a 59% rise in RFID segment sales. The company shipped over 40 million RFID units, marking a 53% increase. Federal sales grew approximately 30%. Despite a GAAP net loss of $1.5 million, non-GAAP adjusted EBITDA improved to $0.4 million. Identiv raised $40.25 million through a public offering and ended Q1 with a backlog of $10.0 million, up 30% year-over-year, reinforcing growth confidence for the remainder of 2021.
Identiv (NASDAQ: INVE) will release its financial results for Q1 2021 on May 6, 2021, after market close. A conference call is scheduled for the same day at 5 PM ET to discuss the results.
Participants can join the call by dialing +1 888.506.0062 or +1 973.528.0011 (international). The event will also be available via webcast, with a replay accessible through May 20, 2021.
Identiv, Inc. (NASDAQ: INVE) announced that Leigh Dow, VP of Global Marketing, received the 2021 Top 25 Women Leaders in Cybersecurity award from The Software Report. The recognition highlights her leadership and mentorship in the security industry, especially amid increasing cybersecurity challenges. Dow emphasized the growing necessity for digital security and transformative marketing strategies in a rapidly evolving landscape. Her commitment to promoting diversity in tech is also noted, contributing to the industry's future growth.
Identiv (NASDAQ: INVE) has unveiled Velocity Vision, a new video management system (VMS) designed to enhance security through a comprehensive, data-driven approach. This system unifies various data sources to facilitate real-time intelligence and improved situational awareness. Velocity Vision supports thousands of devices and integrates with over 15,000 camera models, promoting efficiency in security operations. Additionally, the launch includes a hardware portfolio with extensive warranty and support options, further enriching Identiv's offerings in the security market.
Identiv, Inc. (Nasdaq: INVE) has successfully closed its underwritten public offering, selling 3,779,342 shares of common stock at a price of $10.65 per share, with gross proceeds of approximately $40.25 million. The offering included the underwriters' full option to purchase an additional 492,957 shares. B. Riley Securities acted as the sole book-running manager. The shares were registered under a shelf registration statement effective since March 25, 2021.
Identiv, Inc. (Nasdaq: INVE) announced a public offering of 3,286,385 shares at $10.65 per share, expecting to raise approximately $35.0 million before expenses. The offering is set to close around April 12, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 492,957 extra shares. The offering is managed by B. Riley Securities with support from Lake Street Capital and Northland Capital. A shelf registration statement was effective as of March 25, 2021, with further details available from B. Riley's Prospectus Department.
Identiv (Nasdaq: INVE) announced plans for an underwritten public offering of common stock. The shares will be sold solely by Identiv, and underwriters may purchase an additional 15% within 30 days. The offering is subject to market conditions, with no assurance on completion or terms. B. Riley Securities leads the offering, with Lake Street Capital Markets and Northland Capital as co-managers. A shelf registration was filed with the SEC, effective March 25, 2021. This announcement does not constitute an offer to sell securities.
Identiv, Inc. (NASDAQ: INVE) has been awarded "Supplier of the Year" by Schreiner Group GmbH for its innovative RFID devices used in medical applications, including those related to COVID-19. This recognition marks the first time a supplier of RFID technology has received this honor, highlighting Identiv's 95 out of 100 compliance score. The partnership has lasted over 15 years, with millions of RFID devices deployed in Europe. This accolade acknowledges the critical role of authentication products during the pandemic, emphasizing Identiv's commitment to quality and service.
Identiv, Inc. (NASDAQ: INVE) reported a 31% increase in fourth-quarter revenue, reaching $24.8 million, with RFID revenue surging over 100% year-over-year. The Identity segment revenue grew 53% to $15.8 million. The company ended Q4 2020 with a backlog of $10.5 million, up 121% year-over-year. Despite a GAAP net loss of $0.7 million, non-GAAP adjusted EBITDA rose to $1.4 million. For FY 2020, total revenue increased 4% to $86.9 million. The company expects revenue growth of 20-25% in H1 2021 and raised its revenue guidance to a low-end of $100 million.