Identiv Q4 2020 Earnings Report
Key Takeaways
Identiv reported a 31% increase in revenue for Q4 2020, driven by strong growth in RFID and Identity segments. The company's profitability improved, and it exited the quarter with a significant backlog for Q1 2021.
Total revenue grew 31% year-over-year to $24.8 million.
RFID grew over 100% year-over-year for the second consecutive quarter.
Improved profitability over prior year comparable period in both GAAP net loss at $0.7 million and non-GAAP adjusted EBITDA at $1.4 million.
Exited the fourth quarter of 2020 with backlog for Q1 2021 of $10.5 million, up 121% compared to the same time last year.
Identiv
Identiv
Identiv Revenue by Segment
Forward Guidance
Identiv is raising the low end of expected revenues from prior guidance of $96 million to a new low end of $100 million. Management anticipates growth of 20-25 % in the first half of 2021.
Positive Outlook
- Total orders booked in 2021 through mid-February were 60% higher than the same period in 2020.
- The company is raising the low end of expected revenues from prior guidance of $96 million to a new low end of $100 million.
- Management anticipates growth of 20-25 % in the first half of 2021.
- Normal seasonality is expected to continue with momentum building quarter over quarter from the first quarter of 2021 through the end of the year.
- The company believes the business is on track for a solid 2021 that may exceed revenue projections from last November.
Revenue & Expenses
Visualization of income flow from segment revenue to net income