Identiv Stock Price, News & Analysis

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.

Identiv, Inc. (NASDAQ: INVE) will announce its Q2 2022 financial results on August 3, 2022, post-market. A conference call will follow at 5 PM ET to discuss the results. Identiv focuses on digitally securing the physical world, integrating RFID, NFC, and cybersecurity solutions. The company is publicly traded under the symbol INVE. Investors can access the call via a toll-free number or the webcast link provided.

Identiv, Inc. (NASDAQ: INVE) announced the successful pilot launch of NFC-enabled smart packaging for OTACA Tequila, with 5,000 bottles digitized. Following this success, OTACA plans to produce an additional 50,000 bottles in Q1 2023. Identiv's NFC tags enhance consumer engagement, providing insights into purchasing habits and facilitating re-orders. The collaboration aims to strengthen brand loyalty and transparency in product provenance using blockchain technology. OTACA Tequila has won multiple awards, boosting its market presence.

Identiv, Inc. (NASDAQ: INVE) has appointed Manfred Rietzler, founder of Smartrac Group, as a strategic advisor to enhance its RFID capabilities. Rietzler brings extensive experience in RFID, robotics, and renewable energies. His leadership at Smartrac saw it become a global RFID leader, innovating in HF and NFC technologies. Identiv's CEO, Steven Humphreys, believes Rietzler's expertise will strengthen their position in the RFID sector, aligning with customer needs and driving profitable growth. Rietzler holds numerous patents and aims to help Identiv execute its business strategy effectively.