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Mar 31, 2023
Identiv Q1 2023 Earnings Report
Identiv's Q1 2023 results were announced, featuring record revenue for a fiscal first quarter and stable gross margins year-over-year.
Key Takeaways
Identiv reported a 4% year-over-year increase in revenue to $26.0 million for Q1 2023, marking a record for a fiscal first quarter. The company's GAAP gross margin was 35.4%, with a non-GAAP gross margin of 37.1%.
Revenue grew 4% year-over-year to $26.0 million, a fiscal first quarter record.
Premises revenue grew 8% year-over-year to $11.3 million; Identity revenue grew 1% year-over-year to $14.7 million.
GAAP gross margin was 35.4%; non-GAAP gross margin was flat year-over-year at 37.1%.
Ended the quarter with $21.2 million in cash, cash equivalents and restricted cash.
Forward Guidance
Identiv reconfirms its fiscal year 2023 revenue outlook, with net revenues in the range of $125 million to $130 million. Normal seasonality is expected to continue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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