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) announced it will release its fourth-quarter and fiscal year financial results for 2020 after market close on March 4, 2021. A conference call and webcast is scheduled for the same day at 5 PM ET to discuss these results. Investors can call in to participate, and a replay of the call will be available until March 18, 2021. Identiv specializes in digital security and identification technologies, including RFID, NFC, and cybersecurity solutions.
Identiv (NASDAQ: INVE) announced positive amendments to its short-term debt arrangements, including a two-year extension of its loan with East West Bank. The changes feature lower interest rates starting at prime + 25bps and an increase in the total facility from $20 million to $24 million. Additionally, the maturity of a note with 21 April Fund has been modified, providing interest-free access to capital until March 31, 2021. These developments are expected to enhance Identiv's working capital, supporting anticipated growth in 2021.
Identiv (NASDAQ: INVE) announced preliminary 4th quarter 2020 revenue between $24.6M and $24.8M, reflecting a 30% year-over-year growth. The company reported a 100% increase in RFID revenue for the second consecutive quarter and a positive cash flow from operations of $3.4M to $3.6M. With a backlog of $10.5M for Q1 2021, up 121% year-over-year, Identiv is optimistic about achieving 20%-25% growth in the first half of 2021. Management highlighted significant operational milestones and plans to focus on recurring revenues and expanding federal market presence.
Identiv, Inc. (NASDAQ: INVE) has appointed Leigh Dow as Vice President of Marketing as part of its strategic transformation. Dow, who brings a wealth of experience from senior marketing positions at Honeywell and Intel, aims to enhance Identiv’s position in security and identity solutions. Her extensive background in brand development and marketing will be crucial as the company navigates a pivotal moment in the security market. Dow's appointment underscores Identiv's commitment to diversity and innovation, as she becomes the first woman to hold this role.
Identiv, Inc. (NASDAQ: INVE) has strengthened its balance sheet by repaying its term debt ahead of schedule, including a $4.5 million loan from East West Bank and a $1.2 million promissory note to 21 April Fund LP. These repayments were enabled by a significant year-over-year increase in RFID revenues, which more than doubled in Q3 2020. The company anticipates continued RFID growth in Q4 2020 and into 2021, positioning itself for sustained operational growth.
Identiv, a leader in digital security, will present at Northland Capital Markets’ IoT, AI, and Safety Conference on December 7, 2020.
The CEO, Steven Humphreys, and CFO, Sandra Wallach, are scheduled to present at 10:45 AM ET. They will also host one-on-one meetings with investors and analysts on the same day.
Identiv specializes in RFID, NFC, cybersecurity, and various physical security solutions, and is publicly traded on NASDAQ under the symbol INVE.
Identiv (NASDAQ: INVE) will present at Imperial Capital's 17th Annual Virtual Security Investor Conference on December 2, 2020. CEO Steven Humphreys and CFO Sandra Wallach will speak at 12:30 PM ET. The company will also conduct one-on-one virtual meetings with institutional investors and analysts throughout the day. Identiv specializes in digital security and identification, providing solutions in RFID, NFC, and cybersecurity. For more information or to schedule a meeting, contact Identiv's IR team.
Identiv, Inc. (NASDAQ: INVE) reported a strong third quarter for 2020, with total revenue increasing 30% sequentially to $24.9 million. The Identity segment saw a 33% sequential growth, while RFID revenue surged over 100% year-over-year. Federal sales jumped 90% sequentially, contributing to overall growth. GAAP net income was reported at $0.4 million with positive earnings per share. The company expects continued growth, projecting 2021 revenues between $96 million and $102 million, outpacing market expectations.
Identiv (NASDAQ: INVE) projected a 30% sequential revenue increase to approximately $24.8 million to $25.0 million for Q3 2020, alongside positive earnings per share. The Identity segment accounted for about $15.3 million to $15.5 million, up 33% sequentially, aided by robust demand for RFID products, which surged over 100% year-over-year. Federal sales jumped 90% sequentially. Gross margins are expected between 39% and 40%. Non-GAAP adjusted EBITDA is estimated at $2.7 million to $2.8 million. The earnings call is scheduled for November 10, 2020.
Identiv, Inc. (NASDAQ: INVE) will release its third-quarter financial results for the period ending September 30, 2020, after market closure on November 5, 2020. A conference call and webcast are scheduled for the same day at 5 PM ET (2 PM PT) to discuss the results. Interested participants should call in 5-10 minutes early. The call will also be available for replay until November 19, 2020, via a toll-free number. Identiv specializes in digital security solutions, including RFID and NFC technologies, with a focus on securing the physical world.