Discontinued Operations - For the three months ended March 31, 2024, the discontinued operations reported net revenue of $15.8 million and income from discontinued operations of $824,000[28]. - The Company’s total operating expenses for discontinued operations were $7.041 million for the three months ended March 31, 2024[28]. Financial Performance - The company reported a net loss from continuing operations of $4,789,000 for the three months ended March 31, 2025, compared to a net loss of $5,382,000 for the same period in 2024[54]. - Basic net loss per common share for the three months ended March 31, 2025, was $(0.21), consistent with the loss per share for the same period in 2024[54]. - Total stock-based compensation expense for the three months ended March 31, 2025, was $796,000, a decrease from $1,019,000 in the same period in 2024[51]. Inventory and Assets - The Company’s total inventories increased from $7.475 million as of December 31, 2024, to $7.760 million as of March 31, 2025[37]. - The Company’s accumulated depreciation for property and equipment was $13.069 million as of March 31, 2025[37]. - The balance of Series B Convertible Preferred Stock increased from $26.589 million at the beginning of the period to $27.472 million by March 31, 2025[42]. - The number of common shares issuable upon conversion of Series B Convertible Preferred Stock increased to 6,919,148 shares as of March 31, 2025[42]. Cash and Equivalents - As of March 31, 2025, cash equivalents included $1.6 million in money market accounts and $110.5 million in treasury bills[32]. - As of March 31, 2025, the company repurchased a total of 463,779 shares of common stock for approximately $1.9 million under the Stock Repurchase Program[45]. Revenue and Customer Concentration - Geographic net revenue for the three months ended March 31, 2025, was $5,269,000, down from $6,658,000 in 2024, with the Americas contributing 42% of total revenue[59]. - One customer accounted for 16% of net revenue for the three months ended March 31, 2025, compared to 22% for the same period in 2024[60]. Lease and Warranty Obligations - The present value of future minimum lease payments as of March 31, 2025, was $1.818 million, with long-term operating lease liabilities amounting to $957,000[65]. - The warranty accrual balance at the end of Q1 2025 was $341,000, up from $141,000 at the end of Q1 2024[68]. - The Company recorded a charge of $127,000 to cost of revenue for warranty accruals during the three months ended March 31, 2025[68]. Restructuring and Impairment - The company incurred restructuring expenses of $238,000 related to the impairment of an operating lease right-of-use asset during the three months ended March 31, 2025[62]. - An impairment charge of $238,000 was recorded in Q1 2025 related to an operating lease right-of-use asset at the Singapore manufacturing facility[66]. Stock Options and Commitments - As of March 31, 2025, the company had 444,460 stock options outstanding with a weighted average exercise price of $4.36[47]. - Total principal contractual commitments, excluding operating leases, as of March 31, 2025, amounted to $3.019 million, with $2.455 million in purchase commitments for inventories[67].

Core Viewpoint - Identiv, Inc. reported a quarterly loss of $0.21 per share, which was better than the Zacks Consensus Estimate of a loss of $0.24, indicating a 12.50% earnings surprise [1] Financial Performance - The company posted revenues of $5.27 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 5.38%, but down from $22.49 million year-over-year [2] - Over the last four quarters, Identiv has exceeded consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Performance - Identiv shares have declined approximately 12.6% since the beginning of the year, compared to a decline of 4.7% for the S&P 500 [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.26 for the coming quarter and -$0.97 for the current fiscal year [4][7] - The estimate revisions trend for Identiv is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [6] Industry Context - The Computer - Peripheral Equipment industry, to which Identiv belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - The company reported net revenue of $5.3 million for Q1 2025, slightly above guidance but down from $6.7 million in Q1 2024, primarily due to the exit of low-margin business [11][12] - GAAP gross margin was 2.5% and non-GAAP gross margin was 10.8% for Q1 2025, compared to 7.3% and 13.4% respectively in Q1 2024, with the decrease attributed to transition costs and lower revenue [12] - GAAP net loss from continuing operations was $4.8 million or $0.21 per share, an improvement from a loss of $5.4 million or $0.24 per share in Q1 2024 [13] - Cash and cash equivalents at the end of Q1 2025 were $132.7 million, with cash usage of $3.3 million during the quarter [15] Business Line Data and Key Metrics Changes - The transition of production from Singapore to Thailand is progressing well, with over 75% of volume now transitioned [50] - The company is focusing on higher-margin opportunities and has made targeted investments to support organic growth initiatives [12][20] Market Data and Key Metrics Changes - Approximately 25% of the company's business is exposed to U.S. import tariffs due to manufacturing in Thailand and Singapore [5][17] - The company is monitoring customer demand and potential indirect effects of tariffs, with some caution observed in the market [41][42] Company Strategy and Development Direction - The company is executing its Perform, Accelerate, Transform (PAT) strategy to strengthen its core business and expand into high-value applications [7][10] - New strategic partnerships have been formed, including collaborations with Tag and Track and Inplay to enhance product offerings in the IoT space [9][26] - The company aims to drive future growth through M&A, although current macroeconomic conditions present challenges [28][29] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued market uncertainty and high volatility, closely monitoring risks related to trade policies and global GDP [5][6] - The company expects Q2 2025 net revenue in the range of $4.9 million to $5.3 million, reflecting cautious market conditions [17] Other Important Information - The company is developing new performance metrics to monitor progress across strategic objectives, with updates planned for each quarter [29][30] - A corporate governance update includes a proposal to declassify the board, pending shareholder approval [34][35] Q&A Session Summary Question: Impact of tariffs on customer pipeline - Management noted some customer concerns regarding indirect impacts from tariffs, but no significant effects have been observed yet [41][42] Question: Status of grocery logistics deal - The grocery logistics project is tracking as planned, with initial orders expected by the end of the year and a go-live target for mid-2026 [43] Question: Transition from Singapore to Thailand and margin guidance - Over 75% of production volume has transitioned to Thailand, with expectations for improved yields and efficiency [50] - Margin guidance for Q4 remains uncertain pending tariff outcomes [52] Question: Order pull-ins in Q1 - Management confirmed that Q1 did not benefit from any pull-ins, as lead times and inventory levels did not support significant changes [57] Question: Quoting activity in Q2 - Some caution has been observed in quoting activity, but no significant concerns have emerged for Q2 [59]

Financial Data and Key Metrics Changes - Identiv reported net revenue of $5.3 million for Q1 2025, slightly above guidance but down from $6.7 million in Q1 2024, primarily due to the exit of low-margin business [11][12] - GAAP gross margin was 2.5% and non-GAAP gross margin was 10.8% for Q1 2025, compared to 7.3% and 13.4% respectively in Q1 2024, with the decrease attributed to transition costs and lower revenue [12] - GAAP net loss from continuing operations was $4.8 million or $0.21 per share, an improvement from a loss of $5.4 million or $0.24 per share in Q1 2024 [13] - Cash and cash equivalents at the end of Q1 2025 were $132.7 million, with cash usage of $3.3 million during the quarter [14] Business Line Data and Key Metrics Changes - The transition of production from Singapore to Thailand is progressing well, with over 75% of volume now transitioned [50] - The company is focusing on higher-margin opportunities and has made significant progress in its new product development (NPD) pipeline, with 21 active projects [31][32] Market Data and Key Metrics Changes - Approximately 25% of Identiv's business is exposed to U.S. import tariffs due to its manufacturing footprint in Thailand and Singapore [5][16] - The company is preparing for various tariff scenarios and expects to pass along incurred tariffs to customers as surcharges [16] Company Strategy and Development Direction - Identiv is executing its Perform, Accelerate, Transform (PAT) strategic framework to strengthen its core business and expand into high-value applications [7][18] - The company aims to drive future growth through strategic partnerships and innovative product development, particularly in the IoT space [10][36] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing market uncertainty and high volatility, with a cautious outlook due to shifting trade policies and a softening global GDP [5][10] - Despite challenges, the company believes its value proposition remains strong, driven by long-term trends in RFID and IoT solutions [36] Other Important Information - A new strategic partnership with Tag and Track was announced, aimed at enhancing IoT solutions for the pharmaceutical industry [9] - The company is also collaborating with Inplay to develop a new portfolio of BLE-enabled smart labels for logistics applications [9][27] Q&A Session Summary Question: Impact of tariffs on customer pipeline - Management acknowledged some customer concerns regarding indirect impacts from tariffs but noted no significant effects observed so far [40][41] Question: Status of grocery logistics deal - The grocery logistics project is tracking as planned, with initial orders expected by the end of the year and a go-live target for mid-2026 [43] Question: Transition from Singapore to Thailand and margin guidance - Over 75% of production volume has transitioned to Thailand, with expectations to complete the transition by the end of Q2 [50][52] - Margin guidance for Q4 remains uncertain pending the outcome of tariff reviews [53] Question: Order pull-ins in Q1 - Management confirmed that Q1 did not benefit from any pull-ins, maintaining normal order flow [58] Question: Quoting activity in Q2 - There is caution among customers, but no significant concerns for Q2 have been noted, with guidance reflecting potential slowdowns [61]

Financial Performance - Net revenue decreased to $53 million in Q1 2025 from $67 million in Q1 2024 due to the planned exit of low margin business[10] - GAAP gross margin decreased to 25% in Q1 2025 from 73% in Q1 2024 due to Thailand to Singapore transition and decreased utilization[10] - Non-GAAP gross margin decreased to 108% in Q1 2025 from 134% in Q1 2024[10] - GAAP net loss from continuing operations improved to ($48 million) in Q1 2025 from ($54 million) in Q1 2024 due to reduction in strategic review costs[10] - Non-GAAP adjusted EBITDA was ($39 million) in Q1 2025 compared to ($32 million) in Q1 2024[10] Business Strategy and Outlook - The company is in "Execution Mode" of Perform-Accelerate-Transform (P-A-T) strategy[8] - The company expects Q2 2025 net revenue to be between $49 million and $53 million[12] - The company anticipates continued market uncertainty and is closely monitoring risks[7] - The company is transitioning RFID production to Thailand and expects to conclude Singapore-based production by the end of Q2 or shortly thereafter[8] - The company announced strategic partnerships with Tag-N-Trac for cold chain tracking solutions and is collaborating with InPlay on BLE-enabled smart labels[8]

[Company Overview & Strategy](index=1&type=section&id=Company%20Overview%20%26%20Strategy) Identiv outlines its strategic framework, recent corporate developments, and key partnerships for long-term growth [Company Introduction](index=1&type=section&id=Company%20Introduction) Identiv, a global leader in RFID and BLE IoT solutions, released its first quarter 2025 financial results - Identiv is a global leader in RFID and BLE IoT solutions[1](index=1&type=chunk) [CEO Statement & Strategic Framework](index=1&type=section&id=CEO%20Statement%20%26%20Strategic%20Framework) CEO Kirsten Newquist detailed the "Perform-Accelerate-Transform" strategic framework for pure IoT solutions and long-term growth - Identiv initiated its "Perform-Accelerate-Transform" (P-A-T) strategic framework in Q1 2025, transitioning to a pure IoT solutions provider[2](index=2&type=chunk) - The company aims for long-term growth by strengthening core competencies, expanding strategic partnerships, and innovating product development[2](index=2&type=chunk) [Recent Developments & Partnerships](index=1&type=section&id=Recent%20Developments%20%26%20Partnerships) Identiv announced a new board appointment and strategic partnerships for cold chain tracking and smart BLE tag development - Experienced financial expert Mick Lopez was appointed to Identiv's Board of Directors[1](index=1&type=chunk) - Partnership with Tag-N-Trac provides cold chain tracking and compliance solutions for the pharmaceutical industry[1](index=1&type=chunk) - Collaboration with InPlay focuses on developing smart BLE tags for IoT logistics applications[1](index=1&type=chunk) [Financial Results - First Quarter 2025](index=1&type=section&id=Financial%20Results%20-%20First%20Quarter%202025) Identiv's first quarter 2025 financial performance shows revenue, gross margin, operating expenses, net loss, and adjusted EBITDA [Revenue and Gross Margin](index=1&type=section&id=Revenue%20and%20Gross%20Margin) Revenue and gross margins declined year-over-year, impacted by exiting low-margin businesses and production transfer costs Revenue and Gross Margin Performance | Metric | Q1 2025 | Q1 2024 | Y-o-Y Change | | :----- | :------ | :------ | :--------- | | Revenue | $5.3M | $6.7M | -20.9% | | GAAP Gross Margin | 2.5% | 7.3% | -4.8 pp | | Non-GAAP Gross Margin | 10.8% | 13.4% | -2.6 pp | - Revenue decline was **as expected**, primarily due to exiting low-margin businesses[3](index=3&type=chunk) - Gross margin decrease was mainly due to **additional costs** from production transfer to Thailand and dual manufacturing during the transition period[3](index=3&type=chunk) [Operating Expenses](index=1&type=section&id=Operating%20Expenses) Operating expenses increased year-over-year, reflecting targeted investments for organic growth under the P-A-T strategy Operating Expenses Performance | Metric | Q1 2025 | Q1 2024 | Y-o-Y Change | | :----- | :------ | :------ | :--------- | | GAAP Operating Expenses | $5.6M | $5.5M | +1.8% | | Non-GAAP Operating Expenses | $4.5M | $4.1M | +9.8% | - The increase in operating expenses reflects **targeted investments** by management to support organic growth initiatives under the P-A-T strategic framework[4](index=4&type=chunk) [Net Loss and EPS](index=1&type=section&id=Net%20Loss%20and%20EPS) Net loss and EPS from continuing operations improved year-over-year due to the non-recurrence of strategic review costs Net Loss and EPS Performance | Metric | Q1 2025 | Q1 2024 | Y-o-Y Change | | :----- | :------ | :------ | :--------- | | GAAP Net Loss from Continuing Operations | ($4.8M) | ($5.4M) | Loss reduced 11.1% | | GAAP EPS (Basic and Diluted) | ($0.21) | ($0.24) | Loss reduced 12.5% | - The improvement in net loss is primarily attributed to the **non-recurrence of $0.9 million** in strategic review-related costs incurred in Q1 2024[5](index=5&type=chunk) [Non-GAAP Adjusted EBITDA](index=2&type=section&id=Non-GAAP%20Adjusted%20EBITDA) Non-GAAP adjusted EBITDA loss widened in Q1 2025 compared to the prior year Non-GAAP Adjusted EBITDA Performance | Metric | Q1 2025 | Q1 2024 | Y-o-Y Change | | :----- | :------ | :------ | :--------- | | Non-GAAP Adjusted EBITDA Loss | ($3.9M) | ($3.2M) | Loss widened 21.9% | [Financial Outlook](index=2&type=section&id=Financial%20Outlook) Identiv provides its financial guidance for the second quarter of 2025, reflecting current market conditions [Second Quarter 2025 Guidance](index=2&type=section&id=Second%20Quarter%202025%20Guidance) Management anticipates Q2 2025 net revenue to range between $4.9 million and $5.3 million - Management expects **Q2 2025 net revenue** to be between **$4.9 million and $5.3 million**[7](index=7&type=chunk) [Corporate Information](index=2&type=section&id=Corporate%20Information) This section covers Identiv's business, conference call details, and investor relations contacts [About Identiv](index=2&type=section&id=About%20Identiv) Identiv's RFID and BLE IoT solutions create digital identities for physical objects, enhancing global connectivity - Identiv's RFID and BLE IoT solutions create **digital identities for physical objects**, enhancing global connectivity[10](index=10&type=chunk) - Its solutions are integrated into **over 1.5 billion applications globally**, across healthcare, consumer electronics, luxury goods, and smart packaging[10](index=10&type=chunk) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Identiv held a conference call on May 7, 2025, to discuss Q1 2025 financial results, with replay available - The conference call to discuss Q1 2025 financial results was held on **May 7, 2025, at 5:00 PM ET**[8](index=8&type=chunk) - A replay of the conference call is available until **May 21, 2025**[8](index=8&type=chunk) [Investor Relations](index=3&type=section&id=Investor%20Relations) This press release includes investor relations and media contacts, along with a forward-looking statements disclaimer - Investor Relations contact: **IR@identiv.com**[13](index=13&type=chunk) - Media contact: **press@identiv.com**[13](index=13&type=chunk) - This press release contains **forward-looking statements** subject to risks and uncertainties[12](index=12&type=chunk) [Financial Statements (GAAP)](index=4&type=section&id=Financial%20Statements%20%28GAAP%29) This section presents Identiv's unaudited condensed consolidated GAAP statements of operations and balance sheets [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Unaudited condensed consolidated statements of operations detail net revenue, gross profit, operating expenses, and net loss Condensed Consolidated Statements of Operations | Metric (in thousands) | Q1 2025 | Q4 2024 | Q1 2024 | | :-------------------- | :------ | :------ | :------ | | Net Revenue | $5,269 | $6,697 | $6,658 | | Gross Profit (Loss) | $132 | ($995) | $483 | | Total Operating Expenses | $5,600 | $5,630 | $5,546 | | Net Loss from Continuing Operations | ($4,789) | ($4,277) | ($5,382) | | Net Loss Attributable to Common Stockholders | ($4,994) | ($2,683) | ($4,806) | | Basic and Diluted EPS from Continuing Operations | ($0.21) | ($0.19) | ($0.24) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Unaudited condensed consolidated balance sheets outline assets, liabilities, and stockholders' equity Condensed Consolidated Balance Sheets | Metric (in thousands) | March 31, 2025 | December 31, 2024 | | :-------------------- | :------------- | :---------------- | | Total Current Assets | $148,857 | $152,845 | | Total Assets | $158,735 | $163,225 | | Total Current Liabilities | $7,250 | $7,960 | | Total Liabilities | $8,236 | $9,156 | | Total Stockholders' Equity | $150,499 | $154,069 | [Non-GAAP Financial Measures Reconciliation](index=6&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) This section provides reconciliations of GAAP to non-GAAP financial measures, explaining their use and adjustments [Explanation of Non-GAAP Measures](index=2&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Identiv uses non-GAAP measures to supplement GAAP, excluding specific items to assess ongoing operational performance - Non-GAAP financial measures are used for **internal analysis** and as **supplements to GAAP measures** to assess ongoing operational performance and trends[11](index=11&type=chunk) - Non-GAAP gross margin excludes **stock-based compensation, amortization, and depreciation**[11](index=11&type=chunk) - Non-GAAP Adjusted EBITDA excludes **income taxes, interest, foreign exchange gains/losses, stock-based compensation, amortization and depreciation, restructuring and severance, and strategic transaction-related costs**[11](index=11&type=chunk) [Reconciliation Tables](index=6&type=section&id=Reconciliation%20Tables) Detailed reconciliation tables are provided for GAAP gross profit, operating expenses, and net loss to non-GAAP measures Reconciliation of GAAP Gross Profit (Loss) to Non-GAAP Gross Profit (Loss) and Non-GAAP Gross Margin | Metric (in thousands) | Q1 2025 | Q4 2024 | Q1 2024 | | :-------------------- | :------ | :------ | :------ | | GAAP Gross Profit (Loss) | $132 | ($995) | $483 | | Total Adjustments | $438 | $646 | $411 | | Non-GAAP Gross Profit (Loss) | $570 | ($349) | $894 | | Non-GAAP Gross Margin | 11% | -5% | 13% | Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses | Metric (in thousands) | Q1 2025 | Q4 2024 | Q1 2024 | | :-------------------- | :------ | :------ | :------ | | GAAP Operating Expenses | $5,600 | $5,630 | $5,546 | | Total Adjustments | ($1,113) | ($1,520) | ($1,490) | | Non-GAAP Operating Expenses | $4,487 | $4,110 | $4,056 | Reconciliation of GAAP Net Loss from Continuing Operations to Non-GAAP Adjusted EBITDA | Metric (in thousands) | Q1 2025 | Q4 2024 | Q1 2024 | | :-------------------- | :------ | :------ | :------ | | GAAP Net Loss from Continuing Operations | ($4,789) | ($4,277) | ($5,382) | | Total Adjustments | $872 | ($182) | $2,220 | | Non-GAAP Adjusted EBITDA | ($3,917) | ($4,459) | ($3,162) |

Core Insights - Identiv, Inc. has appointed Mick Lopez to its Board of Directors and is focusing on strategic partnerships to enhance its IoT solutions in the pharmaceutical industry and logistics applications [1][2] Financial Performance - For Q1 2025, Identiv reported revenue of $5.3 million, down from $6.7 million in Q1 2024, primarily due to exiting low-margin business [3] - GAAP gross margin for Q1 2025 was 2.5%, compared to 7.3% in Q1 2024, while non-GAAP gross margin decreased from 13.4% to 10.8% [3] - GAAP operating expenses were $5.6 million in Q1 2025, slightly up from $5.5 million in Q1 2024, reflecting targeted investments for organic growth [4] - The GAAP net loss from continuing operations was $4.8 million, or $0.21 per share, an improvement from a loss of $5.4 million, or $0.24 per share, in Q1 2024 [5] - Non-GAAP adjusted EBITDA loss increased to $3.9 million in Q1 2025 from $3.2 million in Q1 2024 [6] Financial Outlook - Management expects Q2 2025 net revenue to be between $4.9 million and $5.3 million, reflecting current market conditions and customer demand [7] Company Overview - Identiv specializes in RFID- and BLE-enabled IoT solutions, creating digital identities for physical objects and enhancing connectivity across various industries [10]

Core Insights - Identiv, Inc. has announced a strategic partnership with Tag-N-Trac to enhance supply chain visibility for pharmaceutical companies through specialized IoT solutions focused on cold chain tracking [1][4] Company Overview - Identiv is a leader in RFID- and BLE-enabled IoT solutions, with its technology integrated into over 1.5 billion applications globally, driving innovation across various sectors including healthcare and consumer electronics [6] - Tag-N-Trac provides a full stack IoT platform for real-time supply chain visibility and traceability, focusing on solving complex supply chain and inventory management challenges [7] Partnership Details - The partnership combines Identiv's advanced BLE smart labels with Tag-N-Trac's RELATIVITY™ SaaS platform, which offers item-level visibility and actionable insights from origin to delivery [2] - The RELATIVITY platform enables real-time monitoring of ambient conditions such as temperature and humidity, ensuring compliance for temperature-sensitive products [2][3] Industry Context - The need for real-time data and visibility in the pharmaceutical cold chain is increasing due to growing regulatory requirements and patient safety concerns [3] - The collaboration aims to provide pharmaceutical companies with the necessary data intelligence to manage temperature-sensitive products safely and efficiently [4]

Core Viewpoint - Identiv, Inc. will hold a teleconference and webcast on May 7, 2025, to discuss its financial results for the first quarter ended March 31, 2025 [1] Group 1: Teleconference Details - The teleconference is scheduled for May 7, 2025, at 5:00 PM EDT (2:00 PM PDT) [2] - Toll-free and international numbers for the teleconference are provided, along with a call ID [2] - A replay of the teleconference will be available until May 21, 2025, with specific numbers for toll-free and international access [2] Group 2: Company Overview - Identiv specializes in RFID- and BLE-enabled IoT solutions, creating digital identities for physical objects [4] - The company's solutions are integrated into over 1.5 billion applications globally, impacting various sectors including healthcare, consumer electronics, and luxury goods [4]

Group 1 - Identiv, Inc. has appointed Mick Lopez to its Board of Directors, bringing extensive experience in strategic and financial governance, particularly in mergers and acquisitions [1][2] - Lopez has served as CFO for several companies, including Ribbon Communications and Vista Outdoor, and holds an MBA from The University of Chicago [2] - The company is seeking stockholder approval to declassify its Board, which would allow all directors to be elected for one-year terms starting from the 2026 annual meeting [3] Group 2 - As part of its governance review, Identiv has amended its corporate governance guidelines to require directors to tender their resignation if a majority of votes are marked "against" or "withheld" in uncontested elections [4] - Identiv's IoT solutions are integrated into over 1.5 billion applications globally, enhancing connectivity across various sectors including healthcare and consumer electronics [5]