Identiv Stock Price, News & Analysis

Identiv (NASDAQ: INVE) and TrueGreen have launched the world's first smart tamper seal using RFID technology for the cannabis industry. This innovative solution enhances the security and traceability of cannabis products by embedding a unique digital identity within the packaging. The collaboration aims to address complex inventory management challenges, ensuring compliance and operational efficiency across state lines. TrueGreen is set to engage with Standard Wellness for significant operational benefits, including labor savings and improved data management.

Identiv (NASDAQ: INVE) will announce its Q3 financial results for the period ending September 30, 2022, on November 2, 2022, after market close. A conference call is scheduled for 5:00 PM ET to discuss these results. Interested participants can join the call using the provided toll-free number or via webcast. This announcement highlights Identiv's commitment to sharing key financial information with stakeholders, reflecting its transparency and dedication to investor relations.

Identiv, Inc. (NASDAQ: INVE) announced the appointment of Laura Angelini and Richard Kuntz, MD, MSc to its Board of Directors, enhancing its expertise in IoT solutions for the healthcare sector. Both new directors bring extensive experience in medical technologies and strategic growth from their previous roles in major healthcare firms. This move aligns with Identiv's focus on expanding its IoT offerings in healthcare, aiming to leverage the growing demand for digital transformation. Directors Nina Shapiro and Robin Braun will retire, having contributed significantly to the company's direction.

Identiv, Inc. (NASDAQ: INVE) has announced that Amir Khoshniyati, Vice President and General Manager of Transponders, has been appointed to the NFC Forum Board of Directors. Khoshniyati, with extensive experience in NFC technology, aims to enhance innovation and standards within the Healthcare Task Force. His involvement is expected to drive growth in NFC-enabled IoT applications across various sectors. This leadership role comes at a crucial time as NFC adoption rises, with Khoshniyati set to collaborate with key industry players like Apple and Google.

Identiv Inc. (NASDAQ: INVE) has been unanimously approved to join the NFC Forum Board of Directors, enhancing its role in advancing NFC technology within the industry. This marks the second time this year that the NFC Forum has added a Sponsor Member, as its overall membership has increased to 220. Amir Khoshniyati, Identiv's VP, will serve as a Director, allowing the company to drive innovation in NFC standards and applications. Recently, Identiv won the NFC Forum 2022 Innovation Award for its digital health solution for the visually impaired.

Identiv (NASDAQ: INVE) announced a partnership with collectID to enhance fan engagement for German football club 1. FC Köln. They launched NFC-enabled scarves that serve as digital tickets, providing real-time access to exclusive content and rewards during matches. The initiative debuted at the 'Innovation Game' against AC Milan, where fans received offers, including a free pretzel and jersey promotions. Using advanced NFC technology, the scarves promote security and personalization, aiming to deepen the relationship between fans and the club.

Identiv, Inc. (NASDAQ: INVE) announced significant growth, with a 41% year-over-year increase in RFID revenue, driven by rising demand for its solutions in the IoT market. To support this growth, the company is expanding its capacity by opening a second facility in Southeast Asia, set to begin operations in 2023, increasing production to over 350M units. Identiv maintains a perfect 100% customer retention rate over multiple quarters and has secured a record 38 NRE contracts in the second quarter of 2022, indicating strong market traction.

Identiv reported strong Q2 2022 results, with total revenue increasing 16% year-over-year to $27.9 million. RFID revenue surged 41% and premises revenue rose 19%, significantly outpacing industry averages. Gross profit margins expanded sequentially, with GAAP at 37% and non-GAAP at 38%. The company maintained a debt-free balance sheet and reported a backlog of $34.2 million, a 23% increase year-over-year. Management expects revenues of $125 million to $135 million for FY 2022 and 30% to 35% growth for FY 2023, reflecting confidence in continued demand in the IoT sector.