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Identiv (NASDAQ: INVE) narrows Q2 2026 loss, plans $40M capital return and IoT asset sale

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Identiv, Inc. reported fiscal second quarter 2026 net revenue of $5.7 million, up from $5.0 million a year earlier, driven by higher RFID transponder sales. GAAP gross margin improved to 16.1% and non-GAAP gross margin to 24.5%, compared with negative margins in 2025, reflecting cost savings from closing Singapore manufacturing, better utilization in Thailand, and lower inventory obsolescence charges.

GAAP net loss narrowed to ($4.7) million, or ($0.20) per share, from ($6.0) million, while non-GAAP adjusted EBITDA loss improved to ($2.7) million from ($4.6) million. The company held $119.4 million in cash and cash equivalents as of June 30, 2026. Identiv signed an IoT asset purchase agreement with Trackonomy Systems on June 24, 2026, expected to close in Q3 2026, and plans a go-forward strategy focused on physical AI solutions and targeted acquisitions of compliance SaaS companies.

The Board currently intends to return up to $40 million to stockholders via repurchases, dividends, and/or other distributions, and Identiv intends to resume common stock repurchases before the Trackonomy asset sale closing. Management expects Q3 2026 net revenue of $4.1 million to $4.8 million, citing paused orders from a large consumer-facing customer and some chip allocation delays. No conference call will be held regarding these results.

Positive

  • Revenue grew to $5.7 million in Q2 2026 from $5.0 million in Q2 2025, driven by increased RFID transponder sales.
  • Margins improved sharply: GAAP gross margin rose to 16.1% and non-GAAP to 24.5%, versus negative levels a year earlier.
  • Losses narrowed: GAAP net loss improved to ($4.7) million from ($6.0) million; non-GAAP adjusted EBITDA loss improved to ($2.7) million from ($4.6) million.
  • Strong liquidity: cash and cash equivalents were $119.4 million as of June 30, 2026, with total stockholders’ equity of $133.1 million.
  • Capital return plan: the Board currently intends to return up to $40 million to stockholders via repurchases, dividends, and/or other distributions, and the company plans to resume buybacks before the asset sale closing.
  • Strategic portfolio move: Identiv signed an IoT asset purchase agreement with Trackonomy, expected to close in Q3 2026, aligning with its Transform strategy and focus on physical AI and compliance SaaS acquisitions.

Negative

  • Business remains unprofitable: Q2 2026 GAAP net loss was ($4.7) million and non-GAAP adjusted EBITDA loss was ($2.7) million.
  • Revenue outlook softens: management expects Q3 2026 net revenue of $4.1 million to $4.8 million, below Q2 2026 revenue of $5.7 million.
  • Customer demand headwind: a large consumer-facing customer is pausing new orders for several months after building significant inventories, with expected resumption only late in the year.
  • Supply constraints: chip allocation delays are affecting certain products, postponing production and shipment of some orders.
  • No earnings call: the company will not host a conference call to discuss Q2 2026 results in light of the announced asset sale.

Filing Explained

At June 30, cash and equivalents were $119,407 thousand; cumulative Series B dividends reduced the quarter’s amount attributable to common stockholders.

This Form 8-K furnishes Identiv’s second-quarter 2026 results under Item 2.02; the release and its tables are an unaudited results disclosure, not a completed Form 10-Q. The quarter ended June 30, 2026 is the latest reported period, while the company expected to file its Form 10-Q on August 13, 2026. The filing shows a GAAP net loss, while the loss available to common stockholders is reported after cumulative Series B convertible preferred dividends; preferred dividends are deducted before the common-stockholder figure.

The balance sheet reports $119,407 thousand in cash and cash equivalents at June 30, 2026, versus $128,609 thousand at December 31, 2025. This documents a lower cash position at the latest quarter-end.

The next specified checkpoint is the expected August 13, 2026 Form 10-Q, which is the company’s fuller quarterly financial disclosure following this unaudited release.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Net Revenue $5,681 thousand Three months ended June 30, 2026 net revenue
Q2 2025 Net Revenue $5,040 thousand Three months ended June 30, 2025 net revenue
Q2 2026 GAAP Net Loss $(4,653) thousand Three months ended June 30, 2026 net loss
Q2 2026 Non-GAAP Adjusted EBITDA $(2,652) thousand Three months ended June 30, 2026 non-GAAP adjusted EBITDA
Cash and Cash Equivalents $119,407 thousand Balance as of June 30, 2026
Total Stockholders’ Equity $133,082 thousand As of June 30, 2026
Q3 2026 Revenue Guidance $4,100–$4,800 thousand Management’s expected net revenue range for Q3 2026
Planned Capital Return $40,000 thousand Amount the Board currently intends to return via repurchases, dividends, or other distributions
non-GAAP adjusted EBITDA financial
"Non-GAAP adjusted EBITDA loss in the second quarter of 2026 was ($2.7) million"
Non-GAAP adjusted EBITDA is a measure of a company's profitability that shows earnings before interest, taxes, depreciation, and amortization, with certain adjustments made to exclude irregular or non-recurring expenses and income. It provides a clearer picture of ongoing operational performance by filtering out items that might distort the core business results. Investors use it to better compare how well different companies are performing without the noise of one-time events.
stock-based compensation financial
"Non-GAAP gross profit and margin exclude stock-based compensation and amortization and depreciation"
Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.
Deferred revenue financial
"Deferred revenue | | | — | | | | 2,760"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
asset sale transaction financial
"prior to the closing of the asset sale transaction with Trackonomy"
Perform-Accelerate-Transform (P-A-T) strategic initiatives financial
"to support the Company’s Perform-Accelerate-Transform (P-A-T) strategic initiatives"
restricted cash financial
"Restricted cash | | | 300 | | | | 300"
Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.
Net revenue $5,681 thousand Up from $5,040 thousand in the quarter ended June 30, 2025
GAAP net loss $(4,653) thousand Improved from $(6,042) thousand in the quarter ended June 30, 2025
Non-GAAP adjusted EBITDA $(2,652) thousand Improved from $(4,571) thousand in the quarter ended June 30, 2025
Guidance

For the third quarter of fiscal 2026, management expects net revenue to be in the range of $4.1 million to $4.8 million, excluding the impact of closing the asset sale transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did Identiv (INVE) perform financially in Q2 2026?

Identiv reported Q2 2026 net revenue of $5.7 million, up from $5.0 million in Q2 2025, with GAAP net loss of ($4.7) million. Gross margins turned positive, reflecting cost savings and improved manufacturing utilization.

What is Identiv’s (INVE) profitability and EBITDA trend in Q2 2026?

Identiv’s GAAP net loss was ($4.7) million in Q2 2026 versus ($6.0) million a year earlier. Non-GAAP adjusted EBITDA loss improved to ($2.7) million from ($4.6) million, driven by lower fixed manufacturing costs and disciplined operating expenses.

What guidance did Identiv (INVE) give for Q3 2026 revenue?

Management expects Q3 2026 net revenue between $4.1 million and $4.8 million, excluding any effect from closing the Trackonomy asset sale. The outlook reflects macro conditions, a temporary customer order pause, and chip allocation delays.

What is Identiv’s (INVE) cash position and balance sheet strength?

As of June 30, 2026, Identiv held $119.4 million in cash and cash equivalents and reported total stockholders’ equity of $133.1 million. Total assets were $140.7 million, with relatively low current liabilities of $6.5 million.

What strategic transaction did Identiv (INVE) announce with Trackonomy?

Identiv signed an IoT asset purchase agreement with Trackonomy Systems on June 24, 2026. The transaction, involving Identiv’s IoT operating assets, is expected to close in Q3 FY 2026, subject to closing conditions, and supports its Transform strategy.

How does Identiv (INVE) plan to return capital to shareholders?

Identiv’s Board currently intends to return up to $40 million to stockholders via share repurchases, dividends, and/or other distributions. The company intends to resume common stock repurchases shortly and before closing the Trackonomy asset sale.

Why is Identiv (INVE) facing near-term demand and supply challenges?

One large consumer-facing customer has paused new orders for several months after building significant inventory and expects to resume late in the year. Identiv is also experiencing chip allocation delays, which are postponing production and shipments for some products.
false 0001036044 0001036044 2026-08-12 2026-08-12
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 12, 2026

 

 

IDENTIV, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   000-29440   77-0444317

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

1900-B Carnegie Avenue  
Santa Ana, California   92705
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (949) 250-8888

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of exchange on

which registered

Common Stock, $0.001 par value per share   INVE   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 2.02.

Results of Operations and Financial Condition

The information contained in Item 2.02 of this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information contained in this Current Report shall not be incorporated by reference into any registration statement or other document or filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On August 12, 2026, Identiv, Inc. (the “Company”) issued a press release announcing financial results for its second quarter ended June 30, 2026. A copy of the Company’s press release is attached hereto as Exhibit 99.1.

 

Item 9.01

Financial Statements and Exhibits

 

Exhibit
No.

  

Description

99.1    Press release dated August 12, 2026 issued by Identiv, Inc.
104    Cover page Interactive data file (embedded within the inline XBRL document).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    Identiv, Inc.
August 12, 2026     By:  

/s/ Edward Kirnbauer

     

Edward Kirnbauer

Chief Financial Officer

Exhibit 99.1

 

LOGO

Identiv Reports Second Quarter 2026 Financial Results

Signed IoT Asset Purchase Agreement with Trackonomy on June 24, 2026; Transaction Expected to Close in Q3 FY 2026, Subject to Closing Conditions

Go-Forward Business Strategy Focused on Providing Physical AI Solutions Through Targeted Acquisitions of Compliance SaaS Companies

Company Intends to Resume Repurchases of its Common Stock Shortly, and Prior to the Closing of the Asset Sale Transaction

Santa Ana, Calif. — August 12, 2026 — Identiv, Inc. (NASDAQ: INVE), a global leader in RFID- and Bluetooth Low Energy (BLE)-enabled Internet of Things (IoT) solutions, today released its financial results for the second quarter ended June 30, 2026.

Financial Results for Fiscal Second Quarter 2026

Revenue for the second quarter of 2026 was $5.7 million, compared to $5.0 million in the second quarter of 2025. This year-over-year increase was as expected and due to increased sales of RFID transponder products.

Second quarter 2026 GAAP gross margin was 16.1% and non-GAAP gross margin was 24.5%, compared to second quarter 2025 GAAP gross margin of (9.4%) and non-GAAP gross margin of (0.8%). The year-over-year improvement was primarily driven by continued production cost savings and efficiencies driven by the elimination of Singapore manufacturing costs, improved cost utilization at the Thailand facility, and a reduction in inventory obsolescence charges.

GAAP operating expenses, including research and development, selling and marketing, general and administrative, and restructuring and severance, were $6.4 million in the second quarter of 2026, compared to $5.9 million in the second quarter of 2025. The increase in GAAP operating expenses was driven primarily by an increase in strategic review-related costs. Non-GAAP operating expenses were $4.0 million in the second quarter of 2026, compared to $4.5 million in the second quarter of 2025. The decrease in non-GAAP operating expenses reflects management’s disciplined spending allocation across its operating expenses.

Second quarter 2026 GAAP net loss was ($4.7) million, or ($0.20) per basic and diluted share, compared to GAAP net loss of ($6.0) million, or ($0.26) per basic and diluted share, in the second quarter of 2025. This improvement was primarily due to higher sales in Q2 2026, increased gross margin due to the transition of manufacturing to Thailand and the impact of charges to cost of revenue related to the write-down of obsolete inventory in the second quarter of 2025.


Non-GAAP adjusted EBITDA loss in the second quarter of 2026 was ($2.7) million, compared to ($4.6) million in the second quarter of 2025. This improvement was primarily due to the reduction in fixed manufacturing costs at the now-closed Singapore facility, improved utilization at the Thailand facility, and management’s disciplined allocation of operating expenses to support the Company’s Perform-Accelerate-Transform (P-A-T) strategic initiatives.

Management Commentary

In the second quarter, Identiv achieved a significant milestone under the Transform pillar of its P-A-T strategy by entering into a definitive agreement to sell its IoT operating assets to Trackonomy Systems, Inc. Product development activities continued with Identiv’s strategic programs, while the Thailand manufacturing facility prepared for the expansion of its BLE product portfolio. In July, Identiv launched its expanded ID-Tiny product family, a portfolio of ultra-miniaturized HF/NFC inlays and tags designed to bring secure digital intelligence to compact products.

In parallel, broader macroeconomic conditions continued to affect demand in certain consumer-facing applications. In particular, one of Identiv’s larger consumer-facing customers built up significant inventory positions over the last three quarters and is pausing new order activity in the coming months to align its inventories with current demand. The customer expects to resume order activity late this year. Furthermore, Identiv is seeing some chip allocation delays for certain products, which is delaying production and shipment of some orders.

Update Regarding Stock Repurchase Program

Identiv’s Board of Directors currently intends to return up to $40 million of capital to stockholders through share repurchases, dividends, and/or other distributions. Identiv intends to resume common stock repurchases under its stock repurchase program shortly, and prior to the closing of the asset sale transaction with Trackonomy.

Financial Outlook

Identiv provides guidance based on current market conditions and expectations, including macroeconomic conditions and customer demand. For the third quarter of fiscal 2026, management currently expects net revenue to be in the range of $4.1 million to $4.8 million, without taking into account the closing of the asset sale transaction.

Conference Call

In view of Identiv’s previously announced asset sale to Trackonomy, the Company will not hold a conference call to discuss its second quarter 2026 financial results.

Additional information can be found in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which is expected to be filed on August 13, 2026.

About Identiv

Identiv’s RFID- and BLE-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 2.0 billion applications worldwide, drive innovation across healthcare, logistics, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com | Follow us on LinkedIn @Identiv


Non-GAAP Financial Measures

This press release includes financial information that has not been prepared in accordance with accounting principles generally accepted in the United States (GAAP), including non-GAAP adjusted EBITDA, non-GAAP gross profit, non-GAAP gross margin and non-GAAP operating expenses. Identiv uses non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating ongoing operational performance. Identiv believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. Non-GAAP gross profit and margin exclude stock-based compensation and amortization and depreciation. Non-GAAP adjusted EBITDA excludes items that are included in GAAP net loss, GAAP operating expenses, and GAAP gross margin, and excludes income tax provision, interest income, net, foreign currency losses, net, stock-based compensation, amortization and depreciation, restructuring and severance, and strategic review-related costs. Non-GAAP operating expenses exclude stock-based compensation, amortization and depreciation, strategic review-related costs, and restructuring and severance. The exclusions are detailed in the reconciliation table included in this press release. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures as detailed in this press release.

Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of management of Identiv and can be identified by words such as “anticipate,” “believe,” “continue,” “plan,” “will,” “intend,” “expect,” “outlook,” and similar references to the future. Any statement that is not a historical fact is a forward-looking statement, including statements regarding: Identiv’s expectations regarding its future operating and financial outlook and performance, including 2026 third quarter guidance and outlook; Identiv’s beliefs regarding its business and the conditions affecting its business and customers; Identiv’s expectations regarding resumption of customer order activity and the timing thereof; Identiv’s plans regarding the return of capital to stockholders, including the repurchase of stock, and the nature, timing and amount thereof; Identiv’s go-forward strategy, opportunities, focus and goals; and Identiv’s beliefs regarding the benefits of its pending asset sale. Forward-looking statements are only predictions and are subject to a number of risks and uncertainties, many of which are outside Identiv’s control, which could cause actual results to differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the closing of the asset sale; Identiv’s ability to continue the momentum in its business; Identiv’s ability to successfully execute its go-forward business strategy; Identiv’s ability to capitalize on trends in its business and the continuation of those trends; Identiv’s ability to satisfy customer demand and expectations; the level and timing of customer orders and changes/cancellations; the loss of customers, suppliers or partners; risks associated with development of products; the success of Identiv’s products and strategic partnerships; Identiv’s ability to successfully enter into definitive agreements for strategic partnerships or collaborations; the effects of the announced asset sale on Identiv’s business; the impact of macroeconomic conditions and customer demand, inflation, tariffs and increases in prices; factors affecting consumer demand for Identiv’s customers’ products; the effects of supply constraints; changes in Identiv’s plans regarding return of capital and the forms thereof, including repurchases of its stock, and the timing and amounts thereof, if any; factors affecting Identiv’s stock repurchases, including its ability to cease repurchases at any time; and the other factors


discussed in its periodic reports, including its Annual Report on Form 10-K for the year ended December 31, 2025, as amended, Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements are based on information available to Identiv on the date hereof, and Identiv assumes no obligation to update such statements.

Investor Relations Contact:

IR@identiv.com

Media Contact:

press@identiv.com


Identiv, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except per share data)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     June 30,     June 30,     June 30,     June 30,  
     2026     2025     2026     2025  

Net revenue

   $ 5,681     $ 5,040     $ 13,094     $ 10,309  

Cost of revenue

     4,765       5,514       10,887       10,651  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit (loss)

     916       (474     2,207       (342
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses:

        

Research and development

     950       890       1,951       1,677  

Selling and marketing

     1,290       1,546       2,639       2,953  

General and administrative

     4,128       3,057       7,251       6,203  

Restructuring and severance

     59       420       81       680  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     6,427       5,913       11,922       11,513  
  

 

 

   

 

 

   

 

 

   

 

 

 

Loss from operations

     (5,511     (6,387     (9,715     (11,855

Non-operating income (expense):

        

Interest income, net

     995       1,320       2,042       2,532  

Foreign currency losses, net

     (125     (870     (411     (1,400
  

 

 

   

 

 

   

 

 

   

 

 

 

Loss from operations before income tax provision

     (4,641     (5,937     (8,084     (10,723

Income tax provision

     (12     (105     (17     (108
  

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (4,653     (6,042     (8,101     (10,831

Cumulative dividends on Series B convertible preferred stock

     (211     (205     (422     (410
  

 

 

   

 

 

   

 

 

   

 

 

 

Net loss available to common stockholders

   $ (4,864   $ (6,247   $ (8,523   $ (11,241
  

 

 

   

 

 

   

 

 

   

 

 

 

Net loss per common share:

        

Basic and diluted

   $ (0.20   $ (0.26   $ (0.35   $ (0.47

Weighted average common shares outstanding:

        

Basic and diluted

     24,219       23,760       24,129       23,679  


Identiv, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

     June 30,      December 31,  
     2026      2025  
ASSETS      

Current assets:

     

Cash and cash equivalents

   $ 119,407      $ 128,609  

Restricted cash

     300        300  

Accounts receivable, net of allowances

     2,428        4,070  

Inventories

     8,501        7,419  

Prepaid expenses and other current assets

     1,661        2,267  
  

 

 

    

 

 

 

Total current assets

     132,297        142,665  

Property and equipment, net

     7,364        7,316  

Operating lease right-of-use assets

     696        841  

Other assets

     325        515  
  

 

 

    

 

 

 

Total assets

   $ 140,682      $ 151,337  
  

 

 

    

 

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY      

Current liabilities:

     

Accounts payable

   $ 2,502      $ 3,619  

Operating lease liabilities

     331        331  

Deferred revenue

     —         2,760  

Accrued compensation and related benefits

     988        776  

Accrued income taxes payable

     286        288  

Other accrued expenses and liabilities

     2,395        1,619  
  

 

 

    

 

 

 

Total current liabilities

     6,502        9,393  

Long-term operating lease liabilities

     375        525  

Other long-term liabilities

     723        718  
  

 

 

    

 

 

 

Total liabilities

     7,600        10,636  

Total stockholders’ equity

     133,082        140,701  
  

 

 

    

 

 

 

Total liabilities and stockholders’ equity

   $ 140,682      $ 151,337  
  

 

 

    

 

 

 


Identiv, Inc.

Reconciliation of GAAP to Non-GAAP Financial Information

(in thousands)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     June 30,     June 30,     June 30,     June 30,  
     2026     2025     2026     2025  

Reconciliation of GAAP gross margin to non-GAAP gross margin

        

GAAP gross profit (loss)

   $ 916     $ (474   $ 2,207     $ (342
  

 

 

   

 

 

   

 

 

   

 

 

 

Reconciling items included in GAAP gross profit (loss):

        

Stock-based compensation

     7       5       13       10  

Amortization and depreciation

     470       428       940       862  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total reconciling items included in GAAP gross profit (loss)

     477       433       953       872  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP gross profit (loss)

   $ 1,393     $ (41   $ 3,160     $ 530  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP gross margin

     24.5     (0.8 %)      24.1     5.1
  

 

 

   

 

 

   

 

 

   

 

 

 

Reconciliation of GAAP operating expenses to non-GAAP operating expenses

        

GAAP operating expenses

   $ 6,427     $ 5,913     $ 11,922     $ 11,513  
  

 

 

   

 

 

   

 

 

   

 

 

 

Reconciling items included in GAAP operating expenses:

        

Stock-based compensation

     (717     (902     (1,331     (1,693

Amortization and depreciation

     (94     (61     (165     (118

Strategic review-related costs

     (1,512     —        (1,879     (4

Restructuring and severance

     (59     (420     (81     (680
  

 

 

   

 

 

   

 

 

   

 

 

 

Total reconciling items included in GAAP operating expenses

     (2,382     (1,383     (3,456     (2,495
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP operating expenses

   $ 4,045     $ 4,530     $ 8,466     $ 9,018  
  

 

 

   

 

 

   

 

 

   

 

 

 

Reconciliation of GAAP net loss to non-GAAP adjusted EBITDA

        

GAAP net loss

   $ (4,653   $ (6,042   $ (8,101   $ (10,831
  

 

 

   

 

 

   

 

 

   

 

 

 

Reconciling items included in GAAP net loss:

        

Income tax provision

     12       105       17       108  

Interest income, net

     (995     (1,320     (2,042     (2,532

Foreign currency losses, net

     125       870       411       1,400  

Stock-based compensation

     724       907       1,344       1,703  

Amortization and depreciation

     564       489       1,105       980  

Strategic review-related costs

     1,512       —        1,879       4  

Restructuring and severance

     59       420       81       680  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total reconciling items included in GAAP net loss

     2,001       1,471       2,795       2,343  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP adjusted EBITDA

   $ (2,652   $ (4,571   $ (5,306   $ (8,488
  

 

 

   

 

 

   

 

 

   

 

 

 

Filing Exhibits & Attachments

4 documents