Welcome to our dedicated page for Identive news (Ticker: INVE), a resource for investors and traders seeking the latest updates and insights on Identive stock.
Identiv, Inc. (NASDAQ: INVE) is a global leader in security technology, establishing trust in the connected world. The company's solutions secure and manage access to physical places, things, and information, making them invaluable across various sectors, including government, education, retail, transportation, and healthcare. Their motto, 'trust your world', underscores their commitment to reducing risk, achieving compliance, and protecting brand identity.
Identiv's core business is divided into two segments: the Premises Segment and the Identity Segment. The Premises Segment focuses on security solutions for government and enterprise markets, offering products for access control, video surveillance, analytics, and customer experience management. On the other hand, the Identity Segment provides secure access to information for cybersecurity and logical access markets, utilizing RFID technology to protect assets in the IoT space.
One of Identiv's standout offerings is the Identiv Trust Services (ITS) platform, which implements their innovative solutions using standards-based technology, such as digital certificates, mobility, and cloud services. This platform allows customers to secure their buildings, networks, information, systems, and even everyday items seamlessly.
Geographically, Identiv generates the majority of its revenue from the Americas, with a substantial presence in Europe, the Middle East, and the Asia-Pacific region. The Identity Segment is the primary revenue driver, reflecting the growing importance of secure information access and IoT protection in today's digital age.
Recent achievements include strategic partnerships and collaborations with key industry players, enhancing their product offerings and market reach. Identiv’s ongoing projects and innovations continue to set the standard in security technology, making them a significant player in the industry.
To stay updated with the latest developments and performance, investors and stakeholders can rely on Identiv's regular news updates and financial reports. The company's commitment to innovation and security positions them as a trustworthy partner in a rapidly evolving technological landscape.
Identiv, Inc. (NASDAQ: INVE) has launched a new line of near field communication (NFC)-enabled status detection tags, incorporating NXP's NTAG 22x DNA chip. These tags enhance anti-counterfeiting, tamper detection, and condition sensing without batteries, catering to industries such as healthcare, retail, and smart packaging. The portfolio supports applications like medication verification and smart wound recovery. The global capacitive sensor market is projected to grow at a 5.2% CAGR through 2027, emphasizing the growing demand for innovative sensing solutions in IoT.
Identiv, Inc. (NASDAQ: INVE) announced a strategic partnership with Wiliot on February 9, 2022. The collaboration focuses on creating an ecosystem for digital products utilizing Bluetooth IoT Pixels, designed for the healthcare, pharmaceutical, and smart packaging sectors. This partnership aims to enhance visibility and tracking capabilities for everyday items, benefiting industries such as food and beverage. Identiv's expertise in device and systems design supports Wiliot's SaaS platform, expanding the potential of the Internet of Things in real-time monitoring and management.
Identiv, Inc. (NASDAQ: INVE) has launched its UHF RFID TOM® (Tag On Metal) portfolio, designed for robust industrial applications. The TOM labels provide superior performance for tagging metallic items, with a read range of up to 10 meters. The product line includes UHF TOM® Base, suitable for various surfaces, and UHF TOM® Pro, resistant to interference. With the industrial labels market projected to reach 59.34 billion units by 2024 at a CAGR of 4.86%, Identiv's offering positions the company favorably within this growing industry.
Identiv has expanded its partnership with collectID to enhance product authentication for collectible football jerseys using NFC tags. The initiative started with Atlético Mineiro, which will equip 120,000 jerseys with Identiv's advanced tags based on the NXP NTAG 424 DNA chips. This technology aims to reduce counterfeiting, allowing fans to authenticate their jerseys and engage digitally. The global counterfeit goods market is projected to reach $4.2 trillion in 2022, highlighting the importance of such innovations. Identiv anticipates growth in IoT-connected products and personalized consumer engagement in 2022.
Identiv (NASDAQ: INVE) has announced a strategic partnership with TrueGreen to enhance digitization in the cannabis industry through RFID and NFC technology. This partnership aims to meet the rising demand as the U.S. cannabis market is projected to grow from $20 billion in 2021 to $45 billion by 2025. Identiv has developed five new RFID/NFC designs tailored for cannabis smart packaging, enabling improved product security and real-time data management. Deployments with industry leaders are set to begin in Q1 2022.
Identiv, Inc. (NASDAQ: INVE) has appointed Amir Khoshniyati as General Manager and Vice President of the Transponder Business, effective immediately. This strategic move aims to enhance leadership in the RFID market by expanding teams in sales, business development, product management, and R&D. Khoshniyati, who previously served as Vice President of Business Development, brings extensive experience in NFC, RFID, and IoT from his tenure at leading RFID companies. The appointment aligns with Identiv's focus on accelerating growth in multiple industries, including healthcare and smart packaging.
Identiv, Inc. (NASDAQ: INVE) has appointed Justin Scarpulla as Chief Financial Officer, effective December 6, 2021. Scarpulla, with over 25 years of financial leadership experience, previously worked at SpaceX, where he oversaw financial planning and operations. He has also held significant roles at Incipio and Vizio, driving substantial revenue growth. CEO Steven Humphreys expressed confidence in Scarpulla's ability to enhance financial systems and support Identiv's growth strategy. Interim CFO Ed Kirnbauer will continue as Global Corporate Controller.
CVS Pharmacy has launched its Spoken Rx™ service across nearly 10,000 locations, including over 1,700 inside Target stores. This technology, created with the American Council of the Blind, offers audio prescription labels to assist visually impaired patients in accessing their prescription details. The service is free and can be utilized through the CVS Pharmacy App or via stand-alone devices. Spoken Rx aims to enhance healthcare accessibility and provides privacy and independence for blind and visually impaired customers.
Identiv, Inc. (NASDAQ: INVE) will participate in several financial conferences during Q4 2021. Key events include one-on-one meetings at the Stifel 2021 Virtual Midwest One-on-One Growth Conference on November 11, and a presentation at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021. Additionally, Identiv will present in-person at the Imperial Capital Security Conference on December 15, 2021. Investors can contact Identiv's investor relations for more details or to schedule meetings.
Identiv Inc. (NASDAQ: INVE) reported a strong financial performance for Q3 2021, with total revenue increasing by 17% year-over-year to $29.1 million. Identity segment revenue grew 21%, while Premises rose 10%. The company generated $2.9 million in cash flow from operations and achieved a net income of $2.5 million. All outstanding debt has been retired, leaving $29.2 million in cash. The backlog for future shipments increased by 51% year-over-year, and the company expects 2022 revenues to rise 25%-30% to between $130 million and $135 million.
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