Identiv, Inc. · NASDAQ:INVE

Identiv — Q3 2022 Earnings Presentation

17 slides from Identiv's earnings presentation, Nov 2, 2022

  1. Slide 1: Q3 2022 Earnings Conference Call

    Q3 2022 Earnings Conference Call Wednesday, November 2, 2022 at 5 PM ET © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE

  2. Slide 2: Safe Harbor

    Safe Harbor Note Regarding Forward-Looking Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectati

  3. Slide 3: Agenda

    Agenda I. Q3 2022 Highlights II. Financial Review III. 2022 and 2023 Business Drivers 3 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE

  4. Slide 4: Q3 2022 Business Highlights

    Q3 2022 Business Highlights • Q3 2022 Overview Identiv to Manufacture Initial Order of 25 Million Units for Wiliot’s IoT Pixel Tags • Revenue: Quarterly record at $31.0 million • Revenue in the Identity segment was a record $19.2 million • Record Premises revenues, up 14% year-over-year, nearly 3x t

  5. Slide 5: Q3 2022 Business Highlights

    Q3 2022 Business Highlights • RFID Market Leadership & Customer Expansion • Solidifying our IoT industry leadership with our specialized RFID solutions; extended track record of 100% customer retention in RFID • Record number of non-recurring engineering (NRE) contracts grew from 38 in Q2 to 56 at e

  6. Slide 6: Q3 2022 Financial Overview

    Q3 2022 Financial Overview 6 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE

  7. Slide 7: Financial Overview

    Financial Overview Metric Q3’22 Q2’22 Q3’21 TTM Revenue $31.0M $27.9M $29.1M $112.4M Recurring Revenue (% of Revenue) 6% 5% 5% 5% GAAP Gross Margin 36% 37% 38% 35% Non-GAAP Gross Margin 37% 38% 39% 37% GAAP Operating Expenses $10.6M $10.5M $9.1M $42.4M Non-GAAP Operating Expenses $9.5M $9.2M $8.2M $

  8. Slide 8: Segment Revenue & Non-GAAP Gross Margin

    Segment Revenue & Non-GAAP Gross Margin $31.0 $29.1 $28.5 $27.9 $24.9 $24.8 $25.1 $24.0 $22.2 $19.1 $19.2 $15.5 $15.8 $18.7 $17.5 $17.0 $14.6 $14.8 $13.7 $11.6 $10.4 $11.0 $10.5 $10.9 $11.8 $9.4 $9.0 $8.5 $9.2 $7.5 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Please refer to a reconci

  9. Slide 9: Total Revenue & Non-GAAP Adjusted EBITDA Operating Expenses

    Total Revenue & Non-GAAP Adjusted EBITDA Operating Expenses Revenue Adj. EBITDA $31.0 Non-GAAP Operating Expenses % $29.1 $28.5 $27.9 $24.9 $24.8 $25.1 $24.0 $22.2 $19.1 40% 37% 36% 33% 34% 33% 31% 30% 30% 28% $0.5 $1.4 $1.2 $1.4 $2.0 $0.4 -$0.7 $0.2 $2.8 $3.2 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'

  10. Slide 10: Q3 2022 Cash Flow and Balance Sheet (in $M)

    Q3 2022 Cash Flow and Balance Sheet (in $M) Cash Position $36.4 $29.2 $29.8 $28.7 $25.9 * 2.0 (4.1) (1.4) (0.3) (0.2) * $21.9 $13.1 $12.3 $11.4 $11.5 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Net income Changes in Investing Financing FX effect Q3'22 excl. non- operating activities activi

  11. Slide 11: 2022 and 2023 Business Drivers

    2022 and 2023 Business Drivers 11 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE

  12. Slide 12: 2022 and 2023 RFID Growth Drivers

    2022 and 2023 RFID Growth Drivers • Q4 & 2023 RFID Growth • Total backlog up 31%, backlog for Q4 delivery up 42% • Transformational projects: • Wiliot BLE IoT order: 25 million units requested for Q4; projected higher quarterly run rate throughout 2023 • Specialty retail & consumer engagement • Cann

  13. Slide 13: 2022 and 2023 Trends & Outlook

    2022 and 2023 Trends & Outlook • Premises Growth • Growth continuing >> Industry growth rate • Growth unconstrained by supply • Commercial sales accelerating across multiple verticals • Public sector markets (airports, schools) • Long-term growth trend in federal government security spending • Most

  14. Slide 14: Question & Answer Session

    Thank You Question & Answer Session Visit identiv.com for more information today. 14 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE

  15. Slide 15: Income Statement

    Income Statement (unaudited, in $’000) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2022 2022 2021 2022 2021 Net revenue $ 30,996 $ 27,857 $ 29,097 $ 83,914 $ 75,252 Cost of revenue 19,808 17,647 17,979 53,550 47,602 Gross profit 11,188 10,210

  16. Slide 16: Balance Sheet

    Balance Sheet (in $’000) September 30, June 30, March 31, December 31, 2022 2022 2022 2021 ASSETS Current assets: Cash and cash equivalents $ 21,202 $ 25,016 $ 27,614 $ 28,553 Restricted cash 698 905 1,074 1,254 Accounts receivable, net of allowances 23,588 20,951 19,452 19,963 Inventories 25,060 22

  17. Slide 17: Operating Results & Non-GAAP Adjusted EBITDA Reconciliation

    Operating Results & Non-GAAP Adjusted EBITDA Reconciliation (in $M) Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Q3 2022 Reconciliation of GAAP gross profit margin and non-GAAP gross profit margin GAAP gross profit margin (%) 40% 35% 39% 35% 37% 38% 33% 36% 36% 37%

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