Welcome to our dedicated page for Identiv news (Ticker: INVE), a resource for investors and traders seeking the latest updates and insights on Identiv 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) has received CFIUS approval for the $145 million sale of its Physical Security Business to Vitaprotech. The transaction, which includes physical security, access card, and identity reader operations and assets, is expected to close within 30 days. CFIUS determined there were no unresolved national security concerns, concluding the final regulatory hurdle.
The sale will significantly strengthen Identiv's financial position, providing capital to pursue growth opportunities in its specialty IoT solutions business. Identiv submitted the transaction notice on May 9, 2024, and received approval on August 15, 2024. With all regulatory requirements met and shareholder approval secured, both parties are proceeding to close the transaction promptly.
Identiv, Inc. (NASDAQ: INVE) reported its Q2 2024 financial results, highlighting progress on its $145 million asset sale transaction of its Physical Security Business to Vitaprotech. The deal, approved by stockholders on June 28, is expected to close in Q3 2024, subject to CFIUS approval. The company's IoT business reported Q2 revenue of $6.7 million, down from $11.5 million in Q2 2023. GAAP net loss for the IoT Business was ($6.9) million, or ($0.31) per share. Non-GAAP adjusted EBITDA was ($3.7) million. The company's Thailand production facility earned ISO 9001:2015 and ISO 14001:2015 certifications. For Q3 2024, Identiv expects revenue from continuing operations to be between $5.8 million and $6.1 million.
Identiv, Inc. (NASDAQ: INVE), a global leader in digital security and IoT identification, has scheduled its second quarter 2024 earnings call for Thursday, August 8, 2024, at 5:00 PM EDT. The company will discuss financial results for the quarter ended June 30, 2024. Financial results will be released prior to the call and available on the company's investor relations website.
To participate in the teleconference, investors can dial +1 888-506-0062 (toll-free) or +1 973-528-0011 (international) with Call ID: 242005. A live webcast will also be available. The teleconference replay will be accessible until August 22, 2024, using specific replay numbers and passcode 50852.
Identiv has announced a strategic partnership with Omnilert to integrate Omnilert's Gun Detect technology into its Velocity Vision Ecosystem. This collaboration aims to enhance safety monitoring across various sites, including schools, workplaces, and healthcare facilities, through advanced AI-powered gun detection. The system will monitor video streams for weapons, trigger automated responses such as locking doors, and notify law enforcement. This integrated solution promises comprehensive emergency responses and situational intelligence, ensuring a protective environment for institutions and public venues.
Identiv announced that its stockholders approved the asset sale transaction with security solutions provider Vitaprotech, with over 96% of shares voting in favor at the Annual Meeting on June 28, 2024. The transaction, expected to close in Q3 2024, will secure $145 million for Identiv's growth in its IoT solutions business. This is aimed at accelerating RFID production transition to Thailand and enhancing technology and business development initiatives. The proposal saw a high voter turnout with about 72% of outstanding shares participating. Clearance from the Committee on Foreign Investment in the United States remains the last regulatory hurdle.
Identiv (NASDAQ: INVE) announced that its Thailand production facility has achieved ISO 9001:2015 and ISO 14001:2015 certifications, highlighting its commitment to quality management and environmental sustainability. Achieving these certifications within less than a year of operation, the facility now joins Identiv’s Singapore operation, which also recently renewed its ISO certifications through 2026. This milestone supports Identiv’s strategy to shift the majority of its RFID and BLE production to Thailand, leveraging lower costs and advanced equipment. The full transition is expected to complete by the end of Q1 2025, with future expansion plans already underway.
Identiv, Inc. (NASDAQ: INVE) reported its financial results for Q1 2024, including a $145 million asset purchase agreement, new President, and expanding gross margins. Revenue was $22.5 million with GAAP gross margin at 37.3% and non-GAAP at 39.9%. Strategic review concluded with the sale of physical security assets to Vitaprotech. Identiv expects to close the transaction in Q3 2024, subject to approvals.
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