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Sep 30, 2021
Identiv Q3 2021 Earnings Report
Identiv's financial results for Q3 2021 were reported, demonstrating growth in RFID adoption and strong demand from the federal market.
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
Revenue by Segment
Premises Revenue
CapyFin.comIdentity Revenue
CapyFin.com 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