Identiv Q3 revenue down 44% to $6.5M; GAAP net loss $9.3M; $135M asset sale proceeds

Identiv, Inc.

2024-Q3 EPS reported $3.17 revenue$19,931,000

Revenue $6.5M vs $11.7M YoY; GAAP gross margin 3.6%, non-GAAP 9.3%.
GAAP net loss from continuing ops ($9.3M) or ($0.40)/share; non-GAAP adjusted EBITDA loss ($4.5M).
Closed asset sale on Sept 6; net proceeds ~$135M; capital allocation plan outlined.
Board authorized $10M stock repurchase program with no expiration date.
Q4 2024 revenue guidance $6.0M-$6.3M; introduced 'Perform-Accelerate-Transform' strategy.

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