INVE Technologies currently has no commercial revenue
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
INVE Technologies, Inc. reported third-quarter 2026 revenue of $3.1 million, versus $5.0 million a year earlier. The 2026 quarter includes activity only through September 15, 2026, when the IoT business sale to Trackonomy closed, so it is not comparable with the full prior-year period. GAAP gross margin was 18.3%, and non-GAAP gross margin was 31.6%, compared with 10.7% and 19.1%, respectively.
GAAP net income was $0.6 million, versus a $3.5 million net loss, with gains on the asset sale and dissolution of a foreign subsidiary partly offset by strategic transaction costs and accelerated unvested RSU compensation. GAAP operating expenses were $8.8 million, up from $6.1 million; non-GAAP operating expenses were $4.0 million, down from $4.5 million. Non-GAAP adjusted EBITDA loss was $3.0 million, compared with $3.6 million. INVE says it currently has no commercial revenue after the IoT sale and is not providing guidance. It also announced a strategic partnership agreement with Trackonomy and describes a strategy of acquiring enterprise SaaS businesses for physical AI capabilities.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNon-GAAP adjusted EBITDA loss narrowed to $3.0 million from $3.6 million.
Negative
- Major pointINVE currently has no commercial revenue following its IoT business sale.
Filing Explained
At
8-K Event Classification
Key Figures
Key Terms
non-GAAP adjusted EBITDA financial
GAAP gross margin financial
stock-based compensation financial
RSUs financial
Series B convertible preferred stock financial
Earnings Snapshot
INVE is not providing financial guidance because it currently has no commercial revenue following the sale of its IoT business.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What revenue did INVE (INVE) report for Q3 2026?
Did INVE (INVE) report a profit in Q3 2026?
Why did INVE (INVE) revenue decline in Q3 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): |
(Exact name of Registrant as Specified in Its Charter)
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: |
(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:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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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 on Form 8-K, 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 November 12, 2026, INVE Technologies, Inc. (the “Company”) issued a press release announcing financial results for its third quarter ended September 30, 2026. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report and incorporated into this Item 2.02 by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. |
Description |
99.1 |
Press release dated November 12, 2026 issued by INVE Technologies, 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.
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INVE Technologies, Inc. |
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Date: |
November 12, 2026 |
By: |
/s/ Edward Kirnbauer |
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Edward Kirnbauer |
Exhibit 99.1
INVE Technologies, Inc. Reports Third Quarter 2026 Financial Results
Focused on Providing Physical AI Solutions Through Targeted Acquisitions of Enterprise SaaS Companies
Signed Strategic Partnership Agreement with Trackonomy
Santa Ana, Calif. — November 12, 2026 — INVE Technologies, Inc. (NASDAQ: INVE) today released its financial results for the third quarter ended September 30, 2026.
Financial Results for Fiscal Third Quarter 2026
Revenue for the third quarter of 2026 was $3.1 million, compared to $5.0 million in the third quarter of 2025. The year-over-year decrease was due to lower unit sales of RFID transponder products and the IoT business divestiture to Trackonomy during Q3. Net revenue for the third quarter of 2026 reflects only activity through September 15, 2026, the closing date of the asset sale transaction, and therefore is not comparable to the full prior-year period.
Third quarter 2026 GAAP gross margin was 18.3% and non-GAAP gross margin was 31.6%, compared to third quarter 2025 GAAP gross margin of 10.7% and non-GAAP gross margin of 19.1%. The year-over-year improvement was primarily driven by continued cost savings and efficiencies resulting from the transition of production to the Thailand facility, higher utilization at the Thailand facility, and the non-recurrence of prior-year inventory obsolescence charges.
GAAP operating expenses, including research and development, selling and marketing, general and administrative, and restructuring and severance, were $8.8 million in the third quarter of 2026, compared to $6.1 million in the third quarter of 2025. The year-over-year increase in GAAP operating expenses was primarily driven by an increase in costs associated with the asset sale transaction. Non-GAAP operating expenses were $4.0 million in the third quarter of 2026, compared to $4.5 million in the third quarter of 2025. The year-over-year decrease in non-GAAP operating expenses reflects management’s disciplined cost control.
Third quarter 2026 GAAP net income was $0.6 million, or $0.02 per basic and diluted share, compared to GAAP net loss of $3.5 million, or $0.15 per basic and diluted share, in the third quarter of 2025. The year-over-year increase was primarily driven by a gain recognized on the asset sale and a net gain recognized on the dissolution of a foreign subsidiary, partially offset by higher strategic transaction-related costs and higher stock-based compensation related to the acceleration of unvested RSUs associated with the closing of the asset sale.
Third quarter 2026 non-GAAP adjusted EBITDA loss was $3.0 million, compared to a non-GAAP adjusted EBITDA loss of $3.6 million in the third quarter of 2025. The year-over-year improvement was primarily driven by disciplined management of operating expenses in support of the Company’s strategic initiatives.
Financial Outlook
Following the sale of its IoT Business to Trackonomy on September 15, 2026, the Company currently has no
commercial revenue. Consequently, the Company is not providing financial guidance.
Conference Call
INVE Technologies management will hold a conference call today, November 12, 2026, at 5:00 p.m. EST (2:00 p.m. PST) to discuss the company's third quarter 2026 financial results and its business strategy.
Toll-Free: +1 877-545-0320
International Number: +1 973-528-0002
Call ID: 779755
Webcast link: Register and Join
The teleconference replay will be available through Thursday, November 26, 2026, by dialing +1 877-481-4010 (Toll-Free Replay Number) or +1 919-882-2331 (International Replay Number) and entering passcode 54742.
About INVE Technologies
INVE Technologies, Inc. is a publicly traded operating company focused on acquiring and operating enterprise-enabled intelligent software businesses that require the addition of physical AI in compliance driven industries. Its strategy is to combine established enterprise SaaS platforms with Physical AI capabilities to support automated, continuous, and verifiable operational data. For additional information, visit invetechnologies.com.
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. INVE Technologies 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 operational performance. INVE Technologies believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating 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 income (loss), GAAP operating expenses, and GAAP gross margin, and excludes income tax provision (benefit), interest income, net, foreign currency gains (losses), net, stock-based compensation, amortization and depreciation, gain on asset sale, net gain on dissolution of foreign subsidiary, 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 INVE Technologies 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 INVE Technologies’ strategy and focus. Forward-looking statements are only predictions and are subject to a number of risks and uncertainties, many of which are outside INVE Technologies’ 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: INVE Technologies’ ability to successfully execute its business strategy; INVE Technologies’ ability to successfully acquire one or more enterprise software companies; the success of the strategic partnership agreement with Trackonomy; and the other risk 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 June 30, 2026, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements are based on information available to INVE Technologies on the date hereof, and INVE Technologies assumes no obligation to update such statements.
INVE Technologies Investor Relations Contact:
IR@invetechnologies.com
INVE Technologies, Inc. |
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Condensed Consolidated Statements of Operations |
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(in thousands, except per share data) |
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(unaudited) |
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Three Months Ended |
Nine Months Ended |
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September 30, |
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September 30, |
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September 30, |
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September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Net revenue |
$ |
3,088 |
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$ |
5,009 |
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$ |
16,182 |
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$ |
15,318 |
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Cost of revenue |
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2,524 |
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4,475 |
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13,411 |
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15,126 |
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Gross profit |
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564 |
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534 |
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2,771 |
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192 |
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Operating expenses: |
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Research and development |
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1,228 |
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828 |
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3,179 |
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2,505 |
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Selling and marketing |
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1,455 |
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1,369 |
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4,094 |
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4,322 |
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General and administrative |
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5,958 |
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3,517 |
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13,209 |
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9,720 |
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Restructuring and severance |
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164 |
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402 |
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245 |
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1,082 |
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Total operating expenses |
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8,805 |
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6,116 |
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20,727 |
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17,629 |
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Loss from operations |
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(8,241 |
) |
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(5,582 |
) |
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(17,956 |
) |
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(17,437 |
) |
Non-operating income (expense): |
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Interest income, net |
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866 |
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1,309 |
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2,908 |
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3,841 |
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Gain on Asset Sale |
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6,127 |
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— |
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6,127 |
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— |
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Net gain on dissolution of foreign subsidiary |
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1,817 |
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— |
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1,817 |
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— |
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Foreign currency gains (losses), net |
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84 |
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(25 |
) |
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(327 |
) |
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(1,425 |
) |
Income (loss) before income tax benefit (provision) |
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653 |
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(4,298 |
) |
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(7,431 |
) |
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(15,021 |
) |
Income tax benefit (provision) |
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(65 |
) |
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847 |
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(82 |
) |
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739 |
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Net income (loss ) |
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588 |
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(3,451 |
) |
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(7,513 |
) |
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(14,282 |
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Cumulative dividends on Series B convertible preferred stock |
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(214 |
) |
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(207 |
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(636 |
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(617 |
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Net income (loss) available to common stockholders |
$ |
374 |
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$ |
(3,658 |
) |
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$ |
(8,149 |
) |
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$ |
(14,899 |
) |
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Net income (loss) per common share: |
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Basic |
$ |
0.02 |
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$ |
(0.15 |
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$ |
(0.34 |
) |
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$ |
(0.63 |
) |
Diluted |
$ |
0.02 |
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$ |
(0.15 |
) |
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$ |
(0.34 |
) |
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$ |
(0.63 |
) |
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Weighted average common shares outstanding: |
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Basic |
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24,193 |
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23,849 |
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24,151 |
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23,736 |
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Diluted |
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24,213 |
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23,849 |
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24,151 |
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23,736 |
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INVE Technologies, Inc. |
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Condensed Consolidated Balance Sheets |
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(in thousands) |
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(unaudited) |
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September 30, |
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December 31, |
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2026 |
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2025 |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
$ |
86,789 |
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$ |
128,609 |
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Restricted cash |
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300 |
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300 |
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Accounts receivable, net of allowances |
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— |
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4,070 |
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Inventories |
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— |
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7,419 |
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Prepaid expenses and other current assets |
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1,375 |
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2,267 |
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Total current assets |
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88,464 |
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142,665 |
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Property and equipment, net |
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32 |
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|
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7,316 |
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Operating lease right-of-use assets |
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— |
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841 |
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Equity investments |
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50,200 |
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200 |
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Other assets |
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— |
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|
315 |
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Total assets |
$ |
138,696 |
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$ |
151,337 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
$ |
803 |
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$ |
3,619 |
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Operating lease liabilities |
|
— |
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|
|
331 |
|
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Deferred revenue |
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— |
|
|
|
2,760 |
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Accrued compensation and related benefits |
|
373 |
|
|
|
776 |
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|
Accrued income taxes payable |
|
313 |
|
|
|
288 |
|
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Other accrued expenses and liabilities |
|
5,568 |
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|
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1,619 |
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Total current liabilities |
|
7,057 |
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9,393 |
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Long-term operating lease liabilities |
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— |
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525 |
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Other long-term liabilities |
|
754 |
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718 |
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Total liabilities |
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7,811 |
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10,636 |
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Total stockholders' equity |
|
130,885 |
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140,701 |
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Total liabilities and stockholders' equity |
$ |
138,696 |
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$ |
151,337 |
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INVE Technologies, Inc. |
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Reconciliation of GAAP to Non-GAAP Financial Information |
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(in thousands) |
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(unaudited) |
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Three Months Ended |
Nine Months Ended |
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September 30, |
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September 30, |
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September 30, |
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September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Reconciliation of GAAP gross margin to non-GAAP gross margin |
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GAAP gross profit |
$ |
564 |
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$ |
534 |
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$ |
2,771 |
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$ |
192 |
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Reconciling items included in GAAP gross profit: |
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Stock-based compensation |
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41 |
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6 |
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54 |
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|
15 |
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Amortization and depreciation |
|
372 |
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|
|
415 |
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|
1,312 |
|
|
|
1,277 |
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Total reconciling items included in GAAP gross profit |
|
413 |
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|
|
421 |
|
|
|
1,366 |
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|
|
1,292 |
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Non-GAAP gross profit |
$ |
977 |
|
|
$ |
955 |
|
|
$ |
4,137 |
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|
$ |
1,484 |
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Non-GAAP gross margin |
|
32 |
% |
|
|
19 |
% |
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|
26 |
% |
|
|
10 |
% |
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|
|
|
|
|
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Reconciliation of GAAP operating expenses to non-GAAP operating expenses |
|
|
|
|
|
|
|
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||||
GAAP operating expenses |
$ |
8,805 |
|
|
$ |
6,116 |
|
|
$ |
20,727 |
|
|
$ |
17,629 |
|
Reconciling items included in GAAP operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
||||
Stock-based compensation |
|
(1,436 |
) |
|
|
(702 |
) |
|
|
(2,767 |
) |
|
|
(2,396 |
) |
Amortization and depreciation |
|
(91 |
) |
|
|
(117 |
) |
|
|
(256 |
) |
|
|
(235 |
) |
Strategic review-related costs |
|
(3,102 |
) |
|
|
(372 |
) |
|
|
(4,981 |
) |
|
|
(376 |
) |
Restructuring and severance |
|
(164 |
) |
|
|
(402 |
) |
|
|
(245 |
) |
|
|
(1,082 |
) |
Total reconciling items included in GAAP operating expenses |
|
(4,793 |
) |
|
|
(1,593 |
) |
|
|
(8,249 |
) |
|
|
(4,089 |
) |
Non-GAAP operating expenses |
$ |
4,012 |
|
|
$ |
4,523 |
|
|
$ |
12,478 |
|
|
$ |
13,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Reconciliation of GAAP net income (loss) to non-GAAP adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
||||
GAAP net income (loss) |
$ |
588 |
|
|
$ |
(3,451 |
) |
|
$ |
(7,513 |
) |
|
$ |
(14,282 |
) |
Reconciling items included in GAAP net income (loss): |
|
|
|
|
|
|
|
|
|
|
|
||||
Income tax provision (benefit) |
|
65 |
|
|
|
(847 |
) |
|
|
82 |
|
|
|
(739 |
) |
Interest income, net |
|
(866 |
) |
|
|
(1,309 |
) |
|
|
(2,908 |
) |
|
|
(3,841 |
) |
Foreign currency (gains) losses, net |
|
(84 |
) |
|
|
25 |
|
|
|
327 |
|
|
|
1,425 |
|
Stock-based compensation |
|
1,477 |
|
|
|
708 |
|
|
|
2,821 |
|
|
|
2,411 |
|
Amortization and depreciation |
|
463 |
|
|
|
532 |
|
|
|
1,568 |
|
|
|
1,512 |
|
Gain on Asset Sale |
|
(6,127 |
) |
|
|
— |
|
|
|
(6,127 |
) |
|
|
— |
|
Net gain on dissolution of foreign subsidiary |
|
(1,817 |
) |
|
|
— |
|
|
|
(1,817 |
) |
|
|
— |
|
Strategic review-related costs |
|
3,102 |
|
|
|
372 |
|
|
|
4,981 |
|
|
|
376 |
|
Restructuring and severance |
|
164 |
|
|
|
402 |
|
|
|
245 |
|
|
|
1,082 |
|
Total reconciling items included in GAAP net income (loss) |
|
(3,623 |
) |
|
|
(117 |
) |
|
|
(828 |
) |
|
|
2,226 |
|
Non-GAAP adjusted EBITDA |
$ |
(3,035 |
) |
|
$ |
(3,568 |
) |
|
$ |
(8,341 |
) |
|
$ |
(12,056 |
) |