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 participate in three virtual financial conferences throughout September 2020, highlighted by discussions on Q2 2020 financial results. Key metrics include sequential revenue growth, a 36% increase in RFID sales, and a 23% growth in smart card security readers year-over-year. Management will also address business developments, including accelerating NFC adoption and a projected 80% growth in RFID sales for 2020. Additionally, new COVID-19 response solutions are expected to drive recurring revenue. The company aims to enhance secure identification and physical security solutions across sectors.
Identiv, a global provider of secure identification and physical security, will present at the Canaccord Genuity 40th Annual Growth Conference virtually from August 11-13, 2020. The presentation is scheduled for August 13 at 8 AM ET, covering Q2 2020 financial results with 36% year-over-year RFID growth and a significant 80% projected growth in RFID for 2020. Management will discuss new COVID-19 response solutions and hold one-on-one meetings with institutional investors. Identiv’s mission focuses on securing the connected physical world.
Identiv, listed on NASDAQ under the symbol INVE, has announced the launch of its new line of uTrust TS SC Contact Readers designed for physical access control and compliance with FICAM. These readers feature a compact design and offer high security at a low cost, suitable for government sites and critical facilities. They support multiple credentials and comply with international high-security standards. This advancement aligns with Identiv's longstanding commitment to providing reliable security solutions for government agencies.
Identiv (NASDAQ: INVE) has launched a new COVID-19 response solution, the 3VR Real Time Occupancy Dashboard, designed for real-time occupancy tracking. This platform features a user-friendly interface that displays current occupancy levels, limits, and a traffic light system for customer access. Small businesses can implement this system affordably, with costs starting around $6,000 or as low as $121 per month. The solution aims to support safe operations as businesses and schools reopen while addressing financial concerns of local businesses.
Identiv announces the launch of 3VR Prime, a revolutionary video management system as a service (VMS) designed to eliminate upfront costs for users. This comprehensive system is scalable and adaptable, catering to businesses of all sizes. Notably, Identiv promises to replace any unrepairable or obsolete hardware at no additional charge, ensuring reliability and security. The software-as-a-service model allows existing server use, with all updates included. CEO Steven Humphreys emphasized the solution's convenience during economic uncertainty, making it suitable for both large corporations and small businesses.
Identiv, Inc. (NASDAQ: INVE) announced a comprehensive collection of COVID-19 response solutions aimed at supporting enterprises and governments in reopening offices. These frictionless, touchless technologies enhance safety by enabling temperature tracking, contact tracing, and seamless access control. CEO Steve Humphreys highlighted that such innovations are essential for a safe work environment. The solutions cater to both public venues and remote work scenarios, ensuring health and security amid ongoing pandemic concerns.
Identiv, Inc. (NASDAQ: INVE) has announced the launch of its new Body Temperature Measurement Patch, designed to facilitate the safe reopening of public spaces amid COVID-19 concerns. This NFC-enabled patch allows for easy temperature monitoring, targeting venues like theme parks and stadiums. It can be worn for days and is compatible with NFC smartphones for instant readings. The patch can also be used in clinical settings, with options for both passive and active versions for long-term monitoring. Identiv aims to address safety needs and enhance public confidence.
Identiv (NASDAQ: INVE) has launched Hirsch Velocity Software with a free contact tracing feature aimed at enhancing health safety as offices reopen globally. This software enables users to track individuals who entered a building if an illness is reported, facilitating timely notifications for testing or self-quarantine. According to Mark Allen, the General Manager of Identiv, this tool offers proactive measures against potential outbreaks, benefiting both current health situations and future infectious disease scenarios.
Identiv, Inc. (NASDAQ: INVE) announced a change for its 2020 Annual Meeting of Stockholders due to the ongoing COVID-19 pandemic. The meeting will now be held virtually on June 1, 2020, at 8 AM PT (11 AM ET). Stockholders of record as of April 3, 2020, can participate by obtaining a 16-digit control number from their proxy materials or brokers. The virtual format will allow for voting and submitting questions during the meeting. Additional meeting access information can be found on the company’s website.
Identiv, Inc. (NASDAQ: INVE) reported its fiscal Q1 2020 results, showing revenue of $18.1 million, down 7% year-over-year.
Recurring revenue grew 13% to $2 million, contributing to software and services revenue of $2.8 million. Gross margins improved slightly from Q4 2019, with GAAP at 41%. The backlog surged 85% quarter-over-quarter due to increased demand for Smart Card Readers. The company posted a net loss of $2 million, wider than the previous year. Recent strategic amendments to financing agreements aim to navigate economic challenges.