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 (NASDAQ: INVE) will showcase advanced visual intelligence and operating expense (OPEX) solutions at ISC West 2021 on July 19-20 in Las Vegas. Key offerings include the Velocity Vision video management system (VMS) and Freedom Cloud access-control-as-a-service (ACaaS). These innovations target sectors like government and healthcare, aiming to enhance security and operational efficiency. Identiv's ACaaS model emphasizes flexibility and cost efficiency, positioning the company as a leader in the evolving digital security landscape.
Identiv (NASDAQ: INVE) announced new orders from Banco Azteca and Ross Stores, signaling growth in its Premises segment. The company recognized over $1.1 million in software license revenue from Banco Azteca to expand surveillance across 400 stores, resuming operations after pandemic interruptions. Additionally, Ross Stores renewed service for its 37,500 cameras, contributing to projected annual revenue of $0.8 - $1.0 million. Identiv expects a 30% year-over-year growth in the Premises segment in Q2 2021, bolstered by strong market recovery.
Identiv, Inc. (NASDAQ: INVE) announced its membership in the DoseID Consortium on June 21, 2021, to enhance the use of RFID technology in healthcare. This initiative aims to establish industry standards for RFID applications, ensuring quality and interoperability. Identiv's RFID solutions cater to various healthcare needs, including patient compliance and anti-counterfeiting. The company's innovative products, like the uTrust Sense SyringeCheck, showcase its commitment to improving patient safety and care delivery through advanced technology.
Identiv, Inc. (NASDAQ: INVE) will be included in the Russell 2000® and Russell 3000® Indexes starting June 28, 2021. This milestone underscores the company's strong operational execution, highlighted by a 22% year-over-year growth in Q1 2021. CEO Steven Humphreys emphasized that joining these indexes will enhance Identiv's visibility to investors and reflect its growth potential in the RFID and digital security markets. The Russell indexes are determined by market capitalization, ranking the largest U.S. stocks.
Identiv, a leader in digital security and identification, reported a 22% year-over-year increase in total revenue to $22.2 million for Q1 2021, driven by a 59% rise in RFID segment sales. The company shipped over 40 million RFID units, marking a 53% increase. Federal sales grew approximately 30%. Despite a GAAP net loss of $1.5 million, non-GAAP adjusted EBITDA improved to $0.4 million. Identiv raised $40.25 million through a public offering and ended Q1 with a backlog of $10.0 million, up 30% year-over-year, reinforcing growth confidence for the remainder of 2021.
Identiv (NASDAQ: INVE) will release its financial results for Q1 2021 on May 6, 2021, after market close. A conference call is scheduled for the same day at 5 PM ET to discuss the results.
Participants can join the call by dialing +1 888.506.0062 or +1 973.528.0011 (international). The event will also be available via webcast, with a replay accessible through May 20, 2021.
Identiv, Inc. (NASDAQ: INVE) announced that Leigh Dow, VP of Global Marketing, received the 2021 Top 25 Women Leaders in Cybersecurity award from The Software Report. The recognition highlights her leadership and mentorship in the security industry, especially amid increasing cybersecurity challenges. Dow emphasized the growing necessity for digital security and transformative marketing strategies in a rapidly evolving landscape. Her commitment to promoting diversity in tech is also noted, contributing to the industry's future growth.
Identiv (NASDAQ: INVE) has unveiled Velocity Vision, a new video management system (VMS) designed to enhance security through a comprehensive, data-driven approach. This system unifies various data sources to facilitate real-time intelligence and improved situational awareness. Velocity Vision supports thousands of devices and integrates with over 15,000 camera models, promoting efficiency in security operations. Additionally, the launch includes a hardware portfolio with extensive warranty and support options, further enriching Identiv's offerings in the security market.
Identiv, Inc. (Nasdaq: INVE) has successfully closed its underwritten public offering, selling 3,779,342 shares of common stock at a price of $10.65 per share, with gross proceeds of approximately $40.25 million. The offering included the underwriters' full option to purchase an additional 492,957 shares. B. Riley Securities acted as the sole book-running manager. The shares were registered under a shelf registration statement effective since March 25, 2021.
Identiv, Inc. (Nasdaq: INVE) announced a public offering of 3,286,385 shares at $10.65 per share, expecting to raise approximately $35.0 million before expenses. The offering is set to close around April 12, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 492,957 extra shares. The offering is managed by B. Riley Securities with support from Lake Street Capital and Northland Capital. A shelf registration statement was effective as of March 25, 2021, with further details available from B. Riley's Prospectus Department.
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