INVE Technologies (INVE) investor relations material

Executive summary

• Sold the IoT business to Trackonomy on September 15 for $50 million in preferred equity and signed a strategic partnership to deploy Trackonomy’s Physical AI platform across acquired software businesses.

• Strategy shifts to acquiring established enterprise software businesses and enhancing them with verifiable physical-world data; completing the first acquisition is a top priority.

• Q3 revenue was $3.088 million, GAAP net income was $0.588 million, and adjusted EBITDA loss was $3.035 million; results reflect the IoT sale closing on September 15.

Financial highlights

• Q3 revenue was $3.088 million vs. $5.009 million YoY; 2026 revenue reflects activity only through September 15 and is not comparable with the full prior-year period.

• GAAP gross margin was 18.3% vs. 10.7% YoY; non-GAAP gross margin was 31.6% vs. 19.1%, supported by cost efficiencies and improved Thailand utilization.

• GAAP operating expenses were $8.805 million vs. $6.116 million; non-GAAP operating expenses were $4.012 million vs. $4.523 million.

• GAAP net income was $0.588 million, or $0.02 per share, vs. a $3.451 million loss, or $0.15 per share; results included asset-sale and subsidiary-dissolution gains.

• Adjusted EBITDA loss narrowed to $3.035 million from $3.568 million YoY.

Outlook and guidance

• No financial guidance is being provided; post-sale commercial revenue is currently zero.

• Acquisition strategy targets established SaaS businesses with recurring revenue in regulated sectors, enhanced with Trackonomy sensors, smart labels, telemetry, and Physical AI.

• Acquisition pipeline includes small-to-mid-sized targets; deals are expected to use cash and equity, retain brands and customer relationships, and centralize corporate G&A.