Identiv, Inc. Segments Disclosure
Note 11. Segment Reporting
Segment Reporting
Historically, the Company organized its operations into two reportable business segments: Identity and Premises. The Identity segment included products and solutions that enabled secure access to information serving the logical access and cyber-security market, and protected connected objects and information using RFID embedded security. The Premises segment included the Company's solutions to address the premises security market for government and enterprise, including access control, video surveillance, analytics, audio, access readers and identities.
As disclosed in Note 1, Description of Business and Note 3, Discontinued Operations, in 2024, the Company completed the sale of its Physical Security Business, which historically represented primarily the Company's Premises segment. As a result, the Company has one reportable segment: the IoT Business segment.
The chief operating decision maker assesses performance for the segment and decides how to allocate resources based on consolidated income (loss) from continuing operations that also is reported on the consolidated statements of comprehensive income (loss). The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. Income (loss) from continuing operations is used to monitor budget versus actual results. Monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation. The Company derives revenue primarily in
the Americas, Europe and the Middle East, and Asia-Pacific regions and manages the business activities on a consolidated basis. The Company’s chief operating decision maker is the ("CODM").
Geographic Information
Geographic net revenue is based on the customer’s ship-to location. Information regarding net revenue by geographic region for the years ended December 31, 2025 and 2024 is as follows (in thousands):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Americas |
|
$ |
10,042 |
|
|
$ |
12,022 |
|
Europe and the Middle East |
|
|
7,178 |
|
|
|
7,591 |
|
Asia-Pacific |
|
|
4,264 |
|
|
|
7,015 |
|
Total |
|
$ |
21,484 |
|
|
$ |
26,628 |
|
As percentage of net revenue: |
|
|
|
|
|
|
||
Americas |
|
|
47 |
% |
|
|
45 |
% |
Europe and the Middle East |
|
|
33 |
% |
|
|
29 |
% |
Asia-Pacific |
|
|
20 |
% |
|
|
26 |
% |
Total |
|
|
100 |
% |
|
|
100 |
% |
Long-lived assets by geographic location as of December 31, 2025 and 2024 are as follows (in thousands):
|
|
December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Property and equipment, net: |
|
|
|
|
|
|
||
Americas |
|
$ |
200 |
|
|
$ |
68 |
|
Europe and the Middle East |
|
|
680 |
|
|
|
475 |
|
Asia-Pacific |
|
|
6,436 |
|
|
|
7,151 |
|
Total property and equipment, net |
|
$ |
7,316 |
|
|
$ |
7,694 |
|
|
|
|
|
|
|
|
||
Operating lease ROU assets: |
|
|
|
|
|
|
||
Americas |
|
$ |
— |
|
|
$ |
— |
|
Europe and the Middle East |
|
|
282 |
|
|
|
335 |
|
Asia-Pacific |
|
|
559 |
|
|
|
1,665 |
|
Total operating lease ROU assets |
|
$ |
841 |
|
|
$ |
2,000 |
|
Significant Segment Expenses
As the Company's CODM manages operations on a consolidated basis, consolidated income (loss) from continuing operations as reported in the Company's consolidated statements of comprehensive income (loss) is the U.S. GAAP measure that is used to make operating decisions and evaluate operating performance. The significant expense categories which are used to manage operations are those reflected in the Company's consolidated statements of comprehensive income (loss).
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 26, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.