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Jun 30, 2023
Identiv Q2 2023 Earnings Report
Identiv's Q2 2023 results showed record revenue for a fiscal second quarter with strong gross margins year-over-year and generated net operating cash and non-GAAP positive free cash flow.
Key Takeaways
Identiv reported a 6% year-over-year increase in revenue, reaching $29.6 million, a record for the second quarter. The company's GAAP gross margin was 36.7%, with a non-GAAP gross margin of 38.2%. Identiv also generated positive free cash flow and ended the quarter with $22.2 million in cash, cash equivalents and restricted cash.
Second quarter revenue grew 6% year-over-year to $29.6 million, a fiscal second quarter record.
Premises revenue grew 8% year-over-year to $11.9 million; Identity revenue grew 5% year-over-year to $17.7 million.
Q2 2023 GAAP gross margin was 36.7%; non-GAAP gross margin grew to 38.2%.
Ended Q2 2023 with $22.2 million in cash, cash equivalents and restricted cash.
Forward Guidance
Identiv confirms its fiscal year 2023 revenue outlook, with net revenues in the range of $125 million to $130 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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