Identiv Q3 2020 Earnings Report
Key Takeaways
Identiv reported a 30% sequential increase in revenue to $24.9 million in Q3 2020. RFID revenue grew over 100% year-over-year. The company achieved GAAP net income of $0.4 million and non-GAAP adjusted EBITDA of $2.8 million.
Total revenue grew 30% sequentially to $24.9 million.
Revenue in Identity grew 33% sequentially to $15.4 million.
RFID grew over 100% year-over-year, on track for full-year 80% growth.
GAAP net income was $0.4 million, with non-GAAP adjusted EBITDA increasing to $2.8 million.
Identiv
Identiv
Identiv Revenue by Segment
Forward Guidance
Identiv forecasts full year 2020 revenue to range between $86 million and $88 million, resulting in growth in the second half of 2020 of more than 30% over the first half of 2020. Additionally, management expects to be non-GAAP free cash flow positive in the fourth quarter of 2020. For the full year 2021, management forecasts growth in RFID and Identity readers both in the low-to-mid 20% range, and growth in Premises in the mid-teens. As a result, management expects revenues for fiscal 2021 to range between $96 million and $102 million, year-over-year growth of more than double the market’s rate.
Positive Outlook
- Full year 2020 revenue is forecasted to range between $86 million and $88 million.
- Growth in the second half of 2020 is expected to be more than 30% over the first half of 2020.
- Management expects to be non-GAAP free cash flow positive in the fourth quarter of 2020.
- Growth in RFID and Identity readers is forecasted in the low-to-mid 20% range for full year 2021.
- Growth in Premises is forecasted in the mid-teens for full year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income