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Jun 30, 2021
Identiv Q2 2021 Earnings Report
Identiv's Q2 2021 results demonstrated growth, driven by RFID adoption and strong federal government sales.
Key Takeaways
Identiv reported a 26% year-over-year increase in total revenue, reaching $24.0 million, with RFID revenue growing by 39%. The company achieved GAAP net income of $2.5 million, or $0.09 per diluted share, and non-GAAP adjusted EBITDA of $1.2 million.
Total revenue increased by 26% year-over-year to $24.0 million, with RFID revenue up 39% year-over-year.
Federal government sales showed strong growth, increasing by 34% year-over-year.
GAAP operating expenses decreased by 8% while revenues grew 26% year-over-year, demonstrating operating leverage.
The company maintained a strong balance sheet with $36.4 million in cash at the end of Q2 2021.
Forward Guidance
Identiv increased the upper end of its expected revenues to $100 million to $106 million.
Positive Outlook
- Momentum exiting the second quarter
- Strong backlog growth
- Normal seasonality expected to continue
- Momentum building quarter over quarter
- Growth projections with potential upsides in the near-term and into 2022
Historical Earnings Impact
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Avg. Return Before/After Earnings
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