Identiv Inc · Q3 2021 earnings

Briefing

Identiv's financial results for Q3 2021 were reported, demonstrating growth in RFID adoption and strong demand from the federal market.

Identiv reported a record revenue of $29.1 million, a 17% increase year-over-year, driven by a 21% increase in the Identity segment. The company generated a net income of $2.5 million, or $0.09 per diluted share, and non-GAAP adjusted EBITDA of $3.2 million. All outstanding debt was retired, and the company ended the quarter with $29.2 million in cash.

• Total revenue grew 17% year-over-year to a record $29.1 million.
• Identity segment grew 21% year-over-year, while Premises segment grew 10% year-over-year.
• GAAP net income was $2.5 million, or $0.09 per diluted share and non-GAAP adjusted EBITDA was $3.2 million.
• All remaining debt was retired, with $29.2 million in cash on hand.

Headline financials

Revenue & EPS history

Identiv updated its guidance for fiscal year 2021 with expected revenues of $103 million to $105 million. Management is also providing initial guidance for fiscal year 2022 with expected revenues of $130 million to $135 million, reflecting year-over-year growth of 25% to 30%. RFID growth in fiscal year 2022 is expected to be between 40% to 50%, with Premises expected to grow between 20% to 25%.