Identiv (INVE) investor relations material

Executive summary

• Q3 2025 revenue was $5.0 million, aligning with guidance and reflecting the completed transition of all production to Thailand, which lowered costs and improved scalability.

• Gross margins expanded significantly due to the Thailand facility, and the Perform, Accelerate, and Transform (PAT/P-A-T) strategy remains central to operational excellence and growth.

• Fully separated from the physical security business, now focused solely on IoT and RFID technologies for high-value markets.

• Asset Sale generated $143.9 million in cash, resulting in a $99.5 million gain and shifting the business to a single IoT segment.

• Continued focus on BLE innovation, new product development, and execution of strategic initiatives.

Financial highlights

• Q3 2025 revenue was $5.0 million, down from $6.5 million in Q3 2024, primarily due to exiting lower-margin business.

• GAAP gross margin improved to 10.7% from 3.6% year-over-year; non-GAAP gross margin rose to 19.1% from 9.3%.

• GAAP net loss from continuing operations was $3.5 million ($0.15/share), improved from $9.3 million ($0.40/share) in Q3 2024.

• Non-GAAP adjusted EBITDA loss was $3.6 million, compared to $4.5 million in Q3 2024.

• Cash and cash equivalents at quarter-end were $126.6 million, with working capital of $135.4 million.

Outlook and guidance

• Q4 2025 net revenue is expected to be between $5.4 million and $5.9 million.

• Further margin expansion anticipated as Singapore shutdown completes and Thailand reaches full productivity.

• Focus remains on scaling new product development, expanding high-value segments, and operational excellence for sustained growth.

• Guidance reflects current macroeconomic conditions and customer demand.

• Expectation of continued losses from continuing operations until revenue scale is achieved post-Asset Sale.