Welcome to our dedicated page for Identiv news (Ticker: INVE), a resource for investors and traders seeking the latest updates and insights on Identiv stock.
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) 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.
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