Identiv Q4 2021 Earnings Report
Key Takeaways
Identiv reported a 15% increase in revenue for the fourth quarter of 2021, reaching $28.5 million. The company's Identity segment grew by 11%, while the Premises segment saw a 22% increase. However, the company experienced a net loss of $1.9 million, impacted by a bad debt expense of $2.3 million related to aged accounts receivables.
Q4 revenue increased by 15% year-over-year to $28.5 million.
Identity segment revenue grew by 11% year-over-year.
Premises segment revenue increased by 22% year-over-year.
The company maintained a strong balance sheet with $28.6 million in cash and cash equivalents and no debt.
Identiv
Identiv
Identiv Revenue by Segment
Forward Guidance
Identiv reaffirmed its revenue guidance for fiscal year 2022, expecting revenues of $130 million to $135 million, reflecting year-over-year growth of 25% to 35%. Management also reaffirmed its guidance for 30% to 35% year-over-year revenue growth in fiscal year 2023.
Positive Outlook
- Strong backlog provides confidence in growth expectations for fiscal years 2022 and 2023.
- Position as a premier provider of leading-edge NFC-enabled RFID products.
- Increased federal government spending for security.
- Sustainable customer retention rates.
- Expanded recurring revenues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income