Identiv reports Q1 loss, signs $145M asset sale to Vitaprotech; gross margin hits 10-quarter high

Identiv, Inc.

2024-Q1 EPS reported -$0.21 revenue$22,494,000

Q1 revenue $22.5M (down 13% YoY); GAAP net loss ($4.6M), or ($0.21) per share; non-GAAP adj. EBITDA ($1.4M).
Signed definitive asset purchase agreement to sell physical security/identity operations for $145M cash to Vitaprotech; expected close Q3 2024.
GAAP gross margin 37.3%, non-GAAP 39.9% – highest since Q3 2021.
Appointed Kirsten Newquist as President, IoT Solutions; will become CEO post-close.
Q2 2024 revenue guidance $23M-$25M.

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 0.99

Identiv, Inc. reported first quarter ended March 31, 2024 results: revenue $22.5 million, net income ($4.6) million, or ($0.21) per basic and diluted share, EPS ($0.21) per basic and diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $22.5 million
Net income: ($4.6) million, or ($0.21) per basic and diluted share
EPS: ($0.21) per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue for the first quarter 2024 was $22.5 million, compared to $29.0 million in the prior quarter and $26.0 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-24-134273

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