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Jun 30, 2024
Identiv Q2 2024 Earnings Report
Identiv's Q2 2024 financial results were released, highlighting progress on the asset sale transaction and advancements in the IoT strategic growth plan.
Key Takeaways
Identiv reported Q2 2024 results with revenue from continuing operations at $6.7 million. The company is progressing with its asset sale transaction, expected to close in Q3 2024, and focusing on growing its IoT solutions business. The sale will bring in $145 million.
Identiv achieved significant milestones in Q2 towards concluding the asset sale transaction.
Stockholder vote affirmed the decision to focus exclusively on growing the IoT solutions business.
Progress was made in expanding RFID production in Thailand.
Strategic plan for RFID-enabled IoT applications is advancing.
Forward Guidance
For Q3 2024, Identiv expects revenue from continuing operations to be in the range of $5.8 million to $6.1 million. If the asset sale transaction has not closed by the end of the third quarter of 2024 as anticipated, then management expects total revenue from continuing operations and revenue included in discontinued operations to be in the range of $24 million to $26 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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