Identiv Q1 revenue $25.1M (+13% YoY); net loss narrows; guidance reaffirmed

Identiv, Inc.

2022-Q1 EPS reported -$0.06 revenue$25,061,000

Q1 revenue $25.1M (+13% YoY); Identity segment +7% to $14.6M, Premises +23% to $10.5M.
GAAP net loss $1.0M ($0.06 loss/share) vs $1.5M loss ($0.09) in Q1 2021; non-GAAP adj. EBITDA $0.2M.
RFID units shipped 48M (+20% YoY); AUP up 16% sequentially; backlog $32.4M (+24% YoY).
Gross margin expanded 275 bps sequentially to 36% GAAP / 37% non-GAAP.
Reaffirms FY2022 revenue guidance $130-135M (25-35% growth); FY2023 30-35% growth.

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