Recent Financial and Operational Highlights<\/b><\/p>\n First Quarter 2023 Financial Summary<\/b><\/p>\n \nRevenue for the first quarter 2023 was $26.0 million, an increase of 4% from $25.1 million in the first quarter of 2022. By segment, Identity revenues were $14.7 million and Premises revenues totaled $11.3 million.<\/p>\n \nFirst quarter 2023 GAAP gross margin was 35.4% and non-GAAP gross margin was 37.1%.<\/p>\n \nGAAP operating expenses, including research and development, sales, and marketing, and general and administrative were $11.9 million in the first quarter of 2023, compared to $10.2 million in the prior quarter and $10.0 million in the first quarter of 2022. Non-GAAP operating expenses were $10.6 million in the first quarter of 2023, compared to $9.3 million in the prior quarter and $9.0 million in the first quarter of 2022.<\/p>\n \nGAAP net loss was $2.7 million, or ($0.13) per basic and diluted share, compared to GAAP net income of $0.3 million, or $0.00 per basic and diluted share, in the prior quarter and GAAP net loss of $1.0 million, or ($0.06) per basic and diluted share, in the first quarter of 2022.<\/p>\n \nNon-GAAP adjusted EBITDA in the first quarter of 2023 was ($0.9) million, compared to $1.7 million in the prior quarter and $0.2 million in the first quarter of 2022.<\/p>\n Management Commentary<\/b><\/p>\n \n\u201cIn the first quarter, both Identity and Premises segments made progress, keeping us on track to meet our 2023 growth expectations,\u201d said Identiv CEO Steven Humphreys. \u201cIn IoT, our strategic partnership with Wiliot continued to strengthen. We shipped 10 million units in Q1, are on pace to deliver 14 million units in Q2, and confirmed our first follow-on order of similar scale for delivery in 2023. In the medical and healthcare vertical, we\u2019ve established ourselves as the go-to partner for specialty RFID applications and expanded our pipeline. Chip supply is normalizing, and we\u2019ve added new designs with ST Micro and ProQure to provide customers with optionality. The accelerated buildout of our Thailand production facility is on track to begin production runs in July. In physical security, demand for our industry-leading converged Velocity platform is strong, particularly across schools, municipalities, airports and the Federal government. Our ability to deliver a complete, best-in-class enterprise-scale solution providing video, access control, analytics, readers and credentials from a single point of contact is expanding our market share and our share-of-wallet within existing customers. By leveraging our 2022 investments and maintaining a tight focus on business model efficiency, we\u2019re now in a stronger position to execute on our operational plan and accelerate our growth.\u201d<\/p>\n \nIdentiv CFO Justin Scarpulla added, \u201cMaintaining a strong balance sheet and ample working capital to fully capitalize on our strategic opportunities for disciplined growth is a top priority for 2023. We continue to make prudent investments in key areas that drive revenue growth. Our facility in Thailand is progressing at an accelerated pace, and we expect margins to expand as our Thailand facility\u2019s utilization increases. We feel confident in our ability to deliver on our current 2023 outlook.\u201d<\/p>\n Financial Outlook<\/b><\/p>\n \nIdentiv provides guidance based on current market conditions and expectations, including macroeconomic conditions and key component availability. Management reconfirms its fiscal year 2023 revenue outlook, with net revenues in the range of $125 million to $130 million. Normal seasonality is expected to continue.<\/p>\n Conference Call<\/b><\/p>\n \nIdentiv management will hold a conference call today, May 4, 2023, at 5:00 p.m. EDT (2:00 p.m. PDT) to discuss the company\u2019s first quarter 2023 financial results. A question-and-answer session will follow management’s presentation.<\/p>\n \nToll-Free Number: 888-506-0062 \nThe teleconference replay will be available through May 18, 2023, by dialing 877-481-4010 (Toll-Free Replay Number) or 919-882-2331 (International Replay Number) and entering passcode 48113.<\/p>\n \nIf you have any difficulty connecting with the teleconference, please contact Identiv Investor Relations at IR@identiv.com<\/a>.<\/p>\n About Identiv<\/b><\/p>\n Condensed Consolidated Statements of Operations<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands, except per share data)<\/p>\n<\/td>\n<\/tr>\n \n(unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n25,997<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n29,001<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n25,061<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n16,786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,421<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,095<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,211<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,580<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,707<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,283<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,529<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n6,097<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,021<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,948<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,806<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,488<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n191<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n70<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(140<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n11,943<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,180<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,987<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(2,732<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n400<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,021<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(50<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(42<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(25<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n89<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n44<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(2,693<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n402<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,003<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(26<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(2,719<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n339<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(999<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(313<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(304<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(298<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(3,032<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(1,297<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(0.13<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.00<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.06<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(0.13<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.00<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.06<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n22,794<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,737<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,574<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n22,794<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,160<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,574<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Identiv, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands)<\/p>\n<\/td>\n<\/tr>\n \n(unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n20,804<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16,650<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n487<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n21,136<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,826<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n30,609<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,958<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,361<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,177<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n77,273<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,098<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,595<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,719<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,344<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,373<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,999<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,265<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n10,192<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,190<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,148<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,120<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n105,551<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n102,765<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n9,926<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,760<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,941<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,199<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,190<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,798<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,068<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,395<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,757<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,648<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,618<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n27,907<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,393<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,371<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,366<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n647<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n587<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n25<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n31,950<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,371<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n73,601<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,394<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n105,551<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n102,765<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Identiv, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP and Non-GAAP Financial Information<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands)<\/p>\n<\/td>\n<\/tr>\n \n(unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n9,211<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,580<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n45<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n53<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n385<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n270<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n430<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n416<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n326<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n9,641<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,996<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,292<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n37<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n11,943<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,180<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,987<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(945<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(543<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(839<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(238<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(236<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(239<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(68<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(191<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(70<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n140<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,374<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(917<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(938<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n10,569<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,263<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(2,719<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n339<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(999<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n26<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n50<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(89<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(44<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n990<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n596<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n895<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n623<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n599<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n509<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n191<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n70<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(140<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,394<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,242<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(928<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,733<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n243<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230504005824\/en\/<\/a><\/span><\/p>\n Investor Relations Contact:\n
\n
International Number: 973-528-0011
\n
Call ID: 904963
\n
Webcast link: Register and Join<\/a><\/p>\n\n
\n Identiv, Inc.<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cost of revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \n \n \n <\/tr>\n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Selling and marketing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Restructuring and severance<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) from operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Non-operating income (expense):<\/td>\n \n \n \n \n <\/tr>\n \n Interest expense, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Gain on investment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Foreign currency gains (losses), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) before income tax benefit (provision)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Income tax benefit (provision)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cumulative dividends on Series B convertible preferred stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net income (loss) available to common stockholders<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income (loss) per common share:<\/td>\n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares used in computing net income (loss) per common share:<\/td>\n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n ASSETS<\/b><\/td>\n \n \n <\/tr>\n \n Current assets:<\/td>\n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n Restricted cash<\/td>\n \n \n \n \n \n \n Accounts receivable, net of allowances<\/td>\n \n \n \n \n \n \n Inventories<\/td>\n \n \n \n \n \n \n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n Intangible assets, net<\/td>\n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n Total assets<\/td>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n \n \n <\/tr>\n \n Current liabilities:<\/td>\n \n \n <\/tr>\n \n Accounts payable<\/td>\n \n \n \n \n \n \n Financial liabilities<\/td>\n \n \n \n \n \n \n Operating lease liabilities<\/td>\n \n \n \n \n \n \n Deferred revenue<\/td>\n \n \n \n \n \n \n Accrued compensation and related benefits<\/td>\n \n \n \n \n \n \n Other accrued expenses and liabilities<\/td>\n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n Long-term operating lease liabilities<\/td>\n \n \n \n \n \n \n Long-term deferred revenue<\/td>\n \n \n \n \n \n \n Other long-term liabilities<\/td>\n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n Total stockholders’ equity<\/td>\n \n \n \n \n \n \n Total liabilities and stockholders’ equity<\/td>\n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reconciliation of GAAP gross margin and non-GAAP gross margin<\/b><\/td>\n \n \n \n \n <\/tr>\n \n GAAP gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Reconciling items included in GAAP gross profit:<\/td>\n \n \n \n \n <\/tr>\n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Amortization and depreciation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total reconciling items included in GAAP gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Non-GAAP gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Non-GAAP gross margin<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Reconciliation of GAAP operating expenses to non-GAAP operating expenses<\/b><\/td>\n \n \n \n \n <\/tr>\n \n GAAP operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Reconciling items included in GAAP operating expenses:<\/td>\n \n \n \n \n <\/tr>\n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Amortization and depreciation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on disposal of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Restructuring and severance<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total reconciling items included in GAAP operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Non-GAAP operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Reconciliation of GAAP net income (loss) to non-GAAP adjusted EBITDA<\/b><\/td>\n \n \n \n \n <\/tr>\n \n GAAP net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Reconciling items included in GAAP net income (loss):<\/td>\n \n \n \n \n <\/tr>\n \n Income tax provision (benefit)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Gain on investment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on disposal of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Foreign currency gains (losses), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Amortization and depreciation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Restructuring and severance<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total reconciling items included in GAAP net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Non-GAAP adjusted EBITDA<\/td>\n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Sophie Pearson
\n
Director of Investor Relations
\n
IR@identiv.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230504005824\/en\/563044\/3\/identiv-logo-cmyk_%283%29.jpg\"){kind=logo}
<\/td>\n<\/tr>\n