Identiv Q1 revenue $26.0M, record; net loss $2.7M; FY guidance reaffirmed $125-130M

Identiv, Inc.

2023-Q1 EPS reported -$0.13 revenue$25,997,000

Q1 revenue $26.0M (+4% YoY); Identity $14.7M, Premises $11.3M; record fiscal Q1 revenue.
GAAP net loss $2.7M ($0.13/sh) vs. loss $1.0M ($0.06/sh) in Q1 2022; non-GAAP adjusted EBITDA ($0.9)M.
Shipped 10M Wiliot IoT Pixels in Q1, on track for 14M in Q2; follow-on order of similar magnitude for 2023.
Thailand production facility on schedule for first runs in July 2023; expects margins to expand.
FY 2023 revenue guidance reaffirmed at $125M-$130M; normal seasonality expected.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Identiv, Inc. reported first quarter ended March 31, 2023 results: revenue $26.0 million, net income $2.7 million, EPS ($0.13) per basic and diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $26.0 million
Net income: $2.7 million
EPS: ($0.13) per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue for the first quarter 2023 was $26.0 million, an increase of 4% from $25.1 million in the first quarter of 2022. By segment, Identity revenues were $14.7 million and Premises revenues totaled $11.3 million. First quarter 2023 GAAP gross margin was 35.4% and non-GAAP gross margin was 37.1%. GAAP operating expenses, including research and development, sales, and marketing, and general and administrative were $11.9 million in the first quarter of 2023, compared to $10.2 million in the prior quarter and $10.0 million in the first quarter of 2022. Non-GAAP operating expenses were $10.6 million in the first quarter of 2023, compared to $9.3 million in the prior quarter and $9.0 million in the first quarter of 2022. GAAP net loss was $2.7 million, or ($0.13) per basic and diluted share, compared to GAAP net income of $0.3 million, or $0.00 per basic and diluted share, in the prior quarter and GAAP net loss of $1.0 million, or ($0.06) per basic and diluted share, in the first quarter o

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accession 0001193125-23-135953

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