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Identiv (INVE)
NASDAQ:INVE
Holding INVE?
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.29Last Year’s EPS
-$0.08Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 3.35%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a company in transition, with a strong focus on future growth opportunities in IoT and a significantly improved cash position due to strategic divestments. However, the decline in revenue, decreased gross margins, and increased net loss indicate current operational challenges. The company's strategic plans and financial strength provide a positive outlook, but present conditions remain challenging.Company Guidance
During Identiv's Q3 2024 earnings call, the company provided guidance emphasizing its strategic shift towards IoT and the development of RFID and Bluetooth low energy solutions. The company reported Q3 net revenue of $6.5 million, slightly exceeding previous guidance. Gross margins remained under pressure due to the ongoing transition of production facilities from Singapore to Thailand, with expectations to complete 75% of the transition by year-end and the remainder by mid-2025. Identiv anticipates a non-GAAP gross margin of 26% to 28% once the transition is complete, with a long-term target of 35%. The company also highlighted its robust new product development pipeline, encompassing projects in healthcare, aviation, and logistics. Identiv's strategic framework, "Perform, Accelerate and Transform," aims to optimize core business operations, accelerate growth in high-value segments, and drive expansion through M&A, supported by a $145.7 million cash position. The company introduced a $10 million share repurchase program, reflecting confidence in its growth strategy.Sale of Physical Security Business
Completed the sale of the Physical Security business to Vitaprotech, with net proceeds of approximately $135 million after taxes and costs, significantly strengthening the company's financial position.
Transition to IoT Focus
Identiv has transitioned to focus solely on building its IoT business, specifically in RFID and Bluetooth low energy solutions, with a strategic growth plan in place.
Production Transition to Thailand
The company is transitioning RFID and BLE production from Singapore to a state-of-the-art facility in Thailand, with 75% of volume expected to be moved by year-end.
Strong Cash Position
Exited Q3 2024 with $145.7 million in cash, representing an increase of $121.4 million since the end of 2023.
Strategic Partnerships
Announced a strategic partnership with InPlay for BLE-based solutions, focusing initially on cold chain monitoring.
New Growth Strategy
Introduced a new growth strategy framework 'Perform, Accelerate, and Transform' to drive revenue and EBITDA expansion.
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INVE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INVE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $3.58 | $3.95 | +10.34% |
| Aug 08, 2024 | $3.59 | $3.07 | -14.48% |
| May 08, 2024 | $5.01 | $4.46 | -10.98% |
| Mar 12, 2024 | $7.12 | $7.55 | +6.04% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Identiv (INVE) report earnings?
Identiv (INVE) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Identiv (INVE) earnings time?
Identiv (INVE) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INVE EPS forecast?
INVE EPS forecast for the fiscal quarter 2024 (Q4) is -$0.29.
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