Identiv Q3 2021 Earnings Report
Key Takeaways
Identiv reported a record revenue of $29.1 million, a 17% increase year-over-year, driven by a 21% increase in the Identity segment. The company generated a net income of $2.5 million, or $0.09 per diluted share, and non-GAAP adjusted EBITDA of $3.2 million. All outstanding debt was retired, and the company ended the quarter with $29.2 million in cash.
Total revenue grew 17% year-over-year to a record $29.1 million.
Identity segment grew 21% year-over-year, while Premises segment grew 10% year-over-year.
GAAP net income was $2.5 million, or $0.09 per diluted share and non-GAAP adjusted EBITDA was $3.2 million.
All remaining debt was retired, with $29.2 million in cash on hand.
Identiv
Identiv
Identiv Revenue by Segment
Forward Guidance
Identiv updated its guidance for fiscal year 2021 with expected revenues of $103 million to $105 million. Management is also providing initial guidance for fiscal year 2022 with expected revenues of $130 million to $135 million, reflecting year-over-year growth of 25% to 30%. RFID growth in fiscal year 2022 is expected to be between 40% to 50%, with Premises expected to grow between 20% to 25%.
Positive Outlook
- Expected revenues of $103 million to $105 million for fiscal year 2021.
- Expected revenues of $130 million to $135 million for fiscal year 2022.
- Year-over-year revenue growth of 25% to 30% in fiscal year 2022.
- RFID growth expected to be between 40% to 50% in fiscal year 2022.
- Premises growth expected to be between 20% to 25% in fiscal year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income