Identiv, Inc.

Listed Company

INVECIK 0001036044NasdaqNon-AcceleratedSmaller ReportingComputer Peripheral Equipment, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$21.48M

Net Income

$-18.00M

Total Assets

—

Equity

—

Shares Out

24.01M

Op. Cash Flow

$-6.70M

Business

Identiv, Inc. designs, produces, and sells specialty RFID and Bluetooth Low Energy (BLE) Internet of Things devices that create digital identities for physical products. Its main products include RFID inlays, tags, labels, BLE-enabled devices, sensors, antennas, systems, software, and security solutions used to track, monitor, authenticate, and engage with consumers. The company operates research and development, new product introduction, manufacturing, and channel sales functions, supporting custom design-through-production capabilities. Identiv serves global markets through channel partners, converters, system integrators, solution providers, and direct sales across Europe, Asia, and the United States.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	21	27	43	113	104
Cost of revenue	20	26	37	72	67
Gross profit	1	340,000	6	41	37
Research and development	3	4	4	10	9
Selling and marketing	6	6	6	21	17
General and administrative	13	18	9	10	12
Restructuring and severance	2	540,000	157,000	202,000	817,000
Total operating expenses	23	28	20	41	38
Loss from continuing operations	−22	−28	−14	−333,000	−1
Interest income, net	5	1	−427,000	−143,000	−483,000
Foreign currency gains (losses), net	−1	788,000	−10,000	155,000	−79,000
Loss from continuing operations before income tax benefit (provision)	−18	−26	−14	−291,000	2
Income tax benefit (provision)	268,000	−90,000	−65,000	−101,000	−28,000
Net loss from continuing operations	−18	−26	−14	—	—
Loss from Physical Security Business, net of tax	—	−3	8	—	—
Gain on sale of Physical Security Business, net of tax	—	104	—	—	—
Total income from discontinued operations, net of tax	0	101	8	—	—
Net income (loss)	−18	75	−5	−392,000	2
Foreign currency translation adjustment, net of tax	2	−233,000	228,000	−848,000	−629,000
Comprehensive income (loss)	−16	75	−5	−1	991,000
Basic - continuing operations	−0.79	−1.14	−0.66	—	—
Diluted - continuing operations	−0.79	−1.14	−0.66	—	—
Basic - discontinued operations	0	4.27	0.36	—	—
Diluted - discontinued operations	0	4.27	0.36	—	—
Basic (per share)	−0.79	3.14	−0.29	−0.07	0.02
Diluted (per share)	−0.79	3.14	−0.29	−0.07	0.02
Basic (shares)	24	24	23	23	21
Diluted (shares)	24	24	23	23	22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	129	136	23	17	29
Restricted cash	300,000	300,000	1	487,000	1
Accounts receivable, net of allowances of $657 and $655 as of December 31, 2025 and 2024, respectively	4	4	7	25	20
Inventories	7	7	13	29	20
Prepaid expenses and other current assets	2	5	2	4	3
Total current assets	143	153	79	75	73
Property and equipment, net	7	8	8	7	4
Operating lease right-of-use assets	841,000	2	2	4	2
Other assets	515,000	686,000	678,000	1	1
Total assets	151	163	110	103	97
Accounts payable	4	3	5	15	11
Operating lease liabilities	331,000	852,000	782,000	1	1
Deferred revenue	3	0	2	2	2
Accrued compensation and related benefits	776,000	862,000	1	3	3
Accrued income taxes payable	288,000	1	104,000	—	—
Other accrued expenses and liabilities	2	2	917,000	2	4
Total current liabilities	9	8	31	23	21
Long-term operating lease liabilities	525,000	1	2	3	938,000
Other long-term liabilities	718,000	29,000	26,000	25,000	85,000
Total liabilities	11	9	35	27	22
Commitments and contingencies (see Note 15)	—	—	—	—	—
Common stock, $0.001 par value: 50,000 shares authorized; 26,436 and 25,974 shares issued and 23,765 and 23,431 shares outstanding as of December 31, 2025 and 2024, respectively	26,000	26,000	25,000	24,000	24,000
Additional paid-in capital	513	509	501	496	493
Treasury stock 2,671 and 2,543 shares as of December 31, 2025 and 2024, respectively	−17	−16	−13	−12	−11
Accumulated deficit	−358	−340	−415	−409	−409
Accumulated other comprehensive income	3	1	1	1	2
Total stockholders' equity	141	154	74	75	75
Total liabilities and stockholders' equity	151	163	110	103	97

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	−18	75	−5	−392,000	2
Depreciation and amortization	2	3	3	2	2
Amortization of operating lease right-of-use assets	424,000	1	—	—	—
Write down of inventory	639,000	807,000	—	—	—
Amortization of debt issuance costs	—	113,000	43,000	—	108,000
Stock-based compensation expense	3	9	4	—	3
Impairment of operating lease right-of-use assets	800,000	—	—	—	281,000
Loss on disposal of property and equipment	—	98,000	—	—	—
Accounts receivable	150,000	6	3	−5	−4
Inventories	−309,000	4	219,000	−9	389,000
Prepaid expenses and other assets	3	−3	−361,000	−1	−12,000
Accounts payable	1	−5	−3	4	−441,000
Deferred revenue	3	311,000	613,000	222,000	67,000
Accrued income taxes payable	−885,000	−2	182,000	—	—
Accrued expenses and other liabilities	−131,000	−365,000	−981,000	−2	246,000
Operating lease liabilities	−1	−1	—	—	—
Net cash used in operating activities	−7	−15	1	−8	1
Capital expenditures	−1	−1	−4	−4	−2
Proceeds from sale of discontinued operations, net of cash sold	—	143	—	—	—
Proceeds from investment	298,000	—	132,000	30,000	611,000
Net cash provided by (used in) investing activities	−810,000	141	−4	−4	−1
Borrowings under revolving loan facility, net of issuance costs	—	10	24	—	4
Repayments under revolving loan facility	—	−20	−14	—	−19
Taxes paid related to net share settlement of restricted stock units	−431,000	−2	−796,000	−1	−1
Repurchases of common stock	—	−2	—	—	—
Net cash used in financing activities	−431,000	−14	10	−1	19
Effect of exchange rates on cash, cash equivalents, and restricted cash	907,000	−864,000	169,000	48,000	−695,000
Net increase (decrease) in cash, cash equivalents, and restricted cash	−7	112	7	−13	18
Interest paid	—	324,000	451,000	6,000	340,000
Income taxes payments (refunds), net	−2	4	123,000	88,000	74,000
Dividends earned on Series B preferred stock	824,000	883,000	1	1	1
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	65,000	560,000	2	4	183,000

Filings

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