Identiv Q1 2022 Earnings Report
Key Takeaways
Identiv reported a 13% year-over-year increase in revenue to $25.1 million for Q1 2022. The company saw growth in both its Identity and Premises segments, with Premises leading at 23%. Gross margins improved, and the company maintains a strong balance sheet with $28.7 million in cash and no debt.
Revenue grew 13% year-over-year to $25.1 million.
Premises revenue increased by 23% year-over-year, while Identity revenue grew by 7%.
GAAP gross margin was 36%, showing sequential and year-over-year improvement.
RFID unit shipments totaled 48.0 million, a 20% year-over-year increase.
Identiv
Identiv
Identiv Revenue by Segment
Forward Guidance
Identiv reaffirms its fiscal year 2022 revenue guidance of $130 million to $135 million, representing a 25% to 35% year-over-year growth. Additionally, the company reaffirms its guidance for 30% to 35% year-over-year revenue growth in fiscal year 2023.
Positive Outlook
- Reaffirmed fiscal year 2022 revenue guidance of $130 million to $135 million.
- Expected year-over-year revenue growth of 25% to 35% for fiscal year 2022.
- Reaffirmed guidance for 30% to 35% year-over-year revenue growth in fiscal year 2023.
- Strong backlog and momentum exiting Q1 2022 contribute to confidence in growth expectations.
- Increased capacity to meet growing customer demand and capture incremental market share.
Challenges Ahead
- Guidance is based on current market conditions and expectations.
- Normal seasonality is expected to continue.
- Potential risks and uncertainties could affect ability to meet guidance.
- Impact of inflation and increases in prices.
- Effects of shortages of semiconductors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income