Identiv Q2 IoT revenue falls 42% to $6.7M, net loss widens; $145M asset sale awaiting CFIUS

Identiv, Inc.

2024-Q2 EPS reported -$0.48 revenue$13,399,000

Q2 IoT revenue $6.7M (down from $11.5M YoY); GAAP net loss from IoT business ($6.9M) or ($0.31)/share.
$145M asset sale of Physical Security Business to Vitaprotech approved by stockholders on June 28; CFIUS approval pending, expected Q3 close.
Q3 guidance: continuing ops revenue $5.8-6.1M; if sale not closed, total combined revenue $24-26M.
Non-GAAP aggregated revenue (incl. discontinued ops) $24.3M vs $29.6M YoY; aggregated adjusted EBITDA ($2.0M).
Thailand RFID production facility earned ISO 9001:2015 and ISO 14001:2015 certifications.

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