PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) For the first quarter ended March 31, 2023, Identiv, Inc. reported total assets of $105.6 million and total liabilities of $32.0 million, with net revenue of $26.0 million and a net loss of $2.7 million [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets increased to $105.6 million from $102.8 million at year-end 2022, primarily due to a rise in cash and inventories, while total liabilities grew to $32.0 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | $20,804 | $16,650 | | Accounts receivable, net | $21,136 | $24,826 | | Inventories | $30,609 | $28,958 | | **Total Assets** | **$105,551** | **$102,765** | | **Current Liabilities** | | | | Accounts payable | $9,926 | $14,760 | | Financial liabilities, net | $9,941 | $— | | **Total Liabilities** | **$31,950** | **$27,371** | | **Total Stockholders' Equity** | **$73,601** | **$75,394** | [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) For the three months ended March 31, 2023, net revenue increased by 4% year-over-year to $26.0 million, but the net loss widened to $2.7 million, or ($0.13) per share, due to a 20% increase in total operating expenses Q1 2023 vs Q1 2022 Performance (in thousands, except per share data) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net revenue | $25,997 | $25,061 | | Gross profit | $9,211 | $8,966 | | Total operating expenses | $11,943 | $9,987 | | Loss from operations | $(2,732) | $(1,021) | | Net loss | $(2,719) | $(999) | | Net loss per share (Basic & Diluted) | $(0.13) | $(0.06) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2023, net cash used in operating activities was $4.7 million, primarily due to a larger net loss and unfavorable working capital changes, while financing activities provided $9.8 million from a revolving loan facility Cash Flow Summary (in thousands) | Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,698) | $(34) | | Net cash used in investing activities | $(1,225) | $(486) | | Net cash provided by (used in) financing activities | $9,752 | $(399) | | **Net increase (decrease) in cash** | **$4,030** | **$(1,119)** | | **Cash at end of period** | **$21,167** | **$28,688** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, showing strong revenue growth in the Americas, segment performance, the extension of a revolving loan facility, and no goodwill impairment - Revenue is disaggregated by geography, with the Americas region accounting for **83% of total net revenue** in Q1 2023, up from **67% in Q1 2022**[33](index=33&type=chunk)[75](index=75&type=chunk) Segment Net Revenue (in thousands) | Segment | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Identity | $14,678 | $14,579 | | Premises | $11,319 | $10,482 | | **Total** | **$25,997** | **$25,061** | - On February 8, 2023, the company amended its Loan Agreement with East West Bank, extending the maturity date of its revolving loan facility to February 8, 2025, with **$10.0 million outstanding** as of March 31, 2023[49](index=49&type=chunk)[50](index=50&type=chunk) - The company tested goodwill for impairment and noted **no indicators of impairment** during Q1 2023[44](index=44&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q1 2023 revenue growth to segment performance and strong Americas sales, despite a slight gross margin decrease and a wider operating loss due to increased expenses, while affirming sufficient liquidity for the next 12 months - The company's performance is affected by the market adoption of RFID products, seasonality with stronger demand in the second half of the year, U.S Federal Government budget cycles, and macroeconomic conditions like supply chain challenges and inflation[93](index=93&type=chunk)[98](index=98&type=chunk)[100](index=100&type=chunk) - The company operates in two segments: **Identity** (RFID, logical access) and **Premises** (physical access control, video surveillance)[92](index=92&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Q1 2023 revenue grew 4% to $26.0 million, driven by segment increases and a 28% surge in Americas revenue, despite a slight gross margin dip and a 20% rise in operating expenses, leading to a $2.7 million operating loss Q1 2023 vs Q1 2022 Results of Operations (in thousands) | Metric | Q1 2023 | Q1 2022 | % Change | | :--- | :--- | :--- | :--- | | **Net Revenue** | **$25,997** | **$25,061** | **4%** | | Identity | $14,678 | $14,579 | 1% | | Premises | $11,319 | $10,482 | 8% | | **Gross Profit** | **$9,211** | **$8,966** | **3%** | | Gross Margin | 35% | 36% | - | | **Total Operating Expenses** | **$11,943** | **$9,987** | **20%** | | **Loss from Operations** | **$(2,732)** | **$(1,021)** | **168%** | Geographic Net Revenue (in thousands) | Region | Q1 2023 | Q1 2022 | % Change | | :--- | :--- | :--- | :--- | | Americas | $21,628 | $16,891 | 28% | | Europe and the Middle East | $2,984 | $3,794 | (21%) | | Asia-Pacific | $1,385 | $4,376 | (68%) | | **Total** | **$25,997** | **$25,061** | **4%** | - The increase in operating expenses was driven by higher headcount and related payroll costs, increased stock-based compensation, and higher travel-related costs[120](index=120&type=chunk)[122](index=122&type=chunk)[124](index=124&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, the company had $49.4 million in working capital and $20.8 million in cash, using $4.7 million in operations cash but drawing $9.9 million from its revolving loan facility, which was extended to February 2025 - Working capital was **$49.4 million** as of March 31, 2023, a decrease from **$51.7 million** at year-end 2022[131](index=131&type=chunk) - The company amended its Loan Agreement with East West Bank, extending the maturity to February 8, 2025, and was in compliance with all financial covenants as of March 31, 2023[132](index=132&type=chunk) - Cash used in operations was **$4.7 million**, primarily due to the net loss of **$2.7 million** and unfavorable working capital changes, while cash from financing was **$9.8 million**, driven by borrowings under the revolving loan facility[137](index=137&type=chunk)[140](index=140&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk stems from foreign currency exchange rate fluctuations, particularly with the Indian Rupee, Canadian Dollar, and Euro, with a hypothetical 10% adverse U.S Dollar movement estimated to result in a $1.3 million gain or loss - The company's main market risk is from foreign currency fluctuations, particularly with the Indian Rupee, Canadian Dollar, and Euro[151](index=151&type=chunk) - A sensitivity analysis showed that a hypothetical **10% adverse movement** in the U.S Dollar exchange rate would result in an estimated **$1.3 million** in foreign currency gains or losses as of March 31, 2023[153](index=153&type=chunk) [Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting during Q1 2023 - The CEO and CFO concluded that as of March 31, 2023, the company's disclosure controls and procedures were **effective at the reasonable assurance level**[157](index=157&type=chunk) - No material changes were made to the internal control over financial reporting during the three months ended March 31, 2023[158](index=158&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings and claims arising in the ordinary course of business, the uncertain outcomes of which could materially affect its financial condition, results, or cash flows - The company is subject to various legal proceedings and claims arising in the ordinary course of business, the outcomes of which are uncertain[159](index=159&type=chunk) [Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 - There have been **no material changes** from the risk factors disclosed in the company's 2022 Annual Report on Form 10-K[160](index=160&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, the company repurchased 24,812 shares of common stock at a weighted average price of $7.42 per share to satisfy tax withholding obligations related to vesting restricted stock units - In Q1 2023, the company repurchased **24,812 shares** of its common stock to satisfy tax withholding obligations from vesting RSUs[161](index=161&type=chunk) Issuer Purchases of Equity Securities (Q1 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2023 | 13,388 | $7.38 | | Feb 2023 | 4,832 | $8.38 | | Mar 2023 | 6,592 | $6.79 | | **Total** | **24,812** | **$7.42** | [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the Fourth Amendment to the Loan and Security Agreement and required CEO/CFO certifications - Key exhibits filed include the Fourth Amendment to the company's loan agreement and required CEO/CFO certifications[163](index=163&type=chunk)

Identiv, Inc. (NASDAQ:INVE) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Steve Humphreys – Chief Executive Officer Justin Scarpulla – Chief Financial Officer Conference Call Participants Ethan Widell – B. Riley Securities Brian Ruttenbur – Imperial Capital Operator Good afternoon. Welcome to Identiv’s presentation of its First Quarter Fiscal 2023 Earnings Call. My name is Holly, and I’ll be your operator this afternoon. Joining us for today’s presentation are the company’s CE ...

Thursday, May 4, 2023, at 5:00PM EDT Safe Harbor Non-GAAP Financial Measures (Unaudited) This presentation contains trademarks, service marks, trade names and copyrights of Identiv and other companies, and are the property of their respective owners. Agenda 3 © 2023 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE • Shipped 43 million units; maintained 100% RFID customer retention; supported 54 NRE projects • Chip availability improving; partnered with ProQure to launch new NFC Type 2 tags • Federal sales ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 0-29440 IDENTIV, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 77-0444317 (State or other jurisdiction of (I.R.S. Employer In ...

Identiv, Inc. (NASDAQ:INVE) Q4 2022 Earnings Conference Call March 2, 2023 5:00 PM ET Company Participants Steven Humphreys - Chief Executive Officer Justin Scarpulla - Chief Financial Officer Amir Khoshniyati - General Manager and Vice President-Transponder Business Conference Call Participants Craig Ellis - B. Riley Securities Brian Ruttenbur - Imperial Capital Jaeson Schmidt - Lake Street Anthony Stoss - Craig-Hallum Operator Good afternoon. Welcome to Identiv’s Presentation of its Fourth Quarter and Fis ...

IIDENTIV © 2023 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE This presentation 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 the Company's management and can be identified by words such as "anticipates", "believes", "plans", "will", "intends", "expects", and similar refe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 000-29440 IDENTIV, INC. (Exact Name of Registrant as Specified in its Charter) DELAWARE 77-0444317 (State or othe ...

Identiv, Inc. (NASDAQ:INVE) Q3 2022 Earnings Conference Call November 2, 2022 5:00 PM ET Company Participants Steve Humphreys - Chief Executive Officer Justin Scarpulla - Chief Financial Officer Amir Khoshniyati - General Manager and Vice President-Transponder Business Conference Call Participants Jaeson Schmidt - Lake Street Anthony Stoss - Craig-Hallum Mike Latimore - Northland Capital Craig Ellis - B. Riley Securities Brian Ruttenbur - Imperial Capital Operator Good afternoon. Welcome to Identiv’s Presen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 000-29440 IDENTIV, INC. (Exact Name of Registrant as Specified in its Charter) DELAWARE 77-0444317 (State or other jur ...

Identiv, Inc. (NASDAQ:INVE) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET Company Participants Steve Humphreys – Chief Executive Officer Justin Scarpulla – Chief Financial Officer Manfred Mueller – Chief Operating Officer and General Manager Amir Khoshniyati – General Manager and Vice President-Transponder Business Conference Call Participants Jaeson Schmidt – Lake Street Anthony Stoss – Craig-Hallum Mike Latimore – Northland Capital Craig Ellis – B. Riley Securities Brian Ruttenbur – Imperial ...