Identiv, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Identiv, Inc. has filed its 2023 10-K, detailing financial performance, operational segments, and equity structure.</b>

AI Summary

Identiv, Inc. (INVE) filed a Annual Report (10-K) with the SEC on March 15, 2024. Identiv, Inc. filed its 2023 Form 10-K on March 15, 2024, reporting on its fiscal year ended December 31, 2023. The filing covers the company's operations in Physical Access Control Systems and Identity solutions. Key financial instruments and equity details, including common stock and preferred stock series, are detailed as of December 31, 2023. The report references various plans and agreements, including stock option plans and warrants, with specific dates noted. Geographic revenue concentrations are discussed for the Americas, Europe/Middle East, and Asia Pacific regions for fiscal years 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Identiv, Inc., this filing contains several important signals. This filing provides a comprehensive overview of Identiv's financial health and strategic positioning for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed breakdown of revenue by segment and geographic region offers insights into market penetration and growth drivers for Identiv's Physical Access Control Systems and Identity solutions.

Risk Assessment

Risk Level: medium — Identiv, Inc. shows moderate risk based on this filing. The company's financial performance and strategic initiatives are subject to market dynamics and competitive pressures within the identity and access control sectors, as indicated by the detailed segment and geographic revenue data.

Analyst Insight

Investors should analyze the revenue growth trends across different segments and geographies to identify areas of strength and potential concern for Identiv.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-15 — Filing Date (Date of submission)
• 2022 — Prior Fiscal Year (Comparison year for revenue data)
• 2023 — Current Fiscal Year (Primary reporting year)

Key Players & Entities

• Identiv, Inc. (company) — Filer name
• INVE (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-03-15 (date) — Filing date
• Physical Access Control Systems (other) — Business segment
• Identity (other) — Business segment
• Americas (other) — Geographic region
• Europe and Middle East (other) — Geographic region

FAQ

Industry Context

Identiv operates in the identity and access control industry, providing solutions for physical and logical access.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

1. Review Identiv's revenue breakdown by segment (Physical Access Control Systems, Identity) and geographic region for fiscal years 2022 and 2023.
2. Examine the details of Identiv's equity structure, including common and preferred stock, as of December 31, 2023.
3. Assess any disclosed risk factors related to market conditions, competition, or operational challenges within the identity and access control sectors.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-15: Filing Date — Date Identiv, Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This 10-K filing provides the annual update for the fiscal year ended December 31, 2023, superseding previous filings for prior periods.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share INVE The Nasdaq

Filing Documents

• inve-20231231.htm (10-K) — 2864KB
• inve-ex10_13.htm (EX-10.13) — 19KB
• inve-ex21_1.htm (EX-21.1) — 15KB
• inve-ex23_1.htm (EX-23.1) — 5KB
• inve-ex31_1.htm (EX-31.1) — 14KB
• inve-ex31_2.htm (EX-31.2) — 14KB
• inve-ex32.htm (EX-32) — 11KB
• inve-ex97_1.htm (EX-97.1) — 38KB
• img31205591_0.jpg (GRAPHIC) — 265KB
• 0000950170-24-031816.txt (&nbsp;) — 13664KB
• inve-20231231.xsd (EX-101.SCH) — 1795KB
• inve-20231231_htm.xml (XML) — 2621KB

Business

Business 3 Item 1A

Risk Factors

Risk Factors 9 Item 1B Unresolved Staff Comments 19 Item 1C Cybersecurity 19 Item 2

Properties

Properties 20 Item 3

Legal Proceedings

Legal Proceedings 20 Item 4 Mine Safety Disclosures 21 Information About Our Executive Officers 21 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6 [Reserved] 23 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 67 Item 9A

Controls and Procedures

Controls and Procedures 67 Item 9B Other Information 69 Item 9C Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 69 PART III Item 10 Directors, Executive Officers and Corporate Governance 70 Item 11

Executive Compensation

Executive Compensation 70 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13 Certain Relationships and Related Transactions, and Director Independence 70 Item 14 Principal Accountant Fees and Services 70 PART IV Item 15 Exhibits and Financial Statement Schedule 70 Item 16 Form 10-K Summary 73

Signatures

Signatures 74 2 PART I

B USINESS

ITEM 1. B USINESS This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For example, other than statements of historical facts, statements regarding our strategy, future operations and growth, financial position, expected financial or business results, projected costs, prospects, plans, market trends, potential market size, product attributes and benefits, growth drivers, competition and competitive advantages, objectives of management, management judgements and estimates, and the expected impact of changes in laws or accounting pronouncements constitute forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "will," "believe," "could," "should," "would," "may," "anticipate," "intend," "plan," "estimate," "expect," "project" or the negative of these terms or other similar expressions. Although we believe that our expectations reflected in or suggested by the forward-looking statements that we make in this Annual Report are reasonable, we cannot guarantee future results, performance or achievements. You should not place undue reliance on these forward-looking statements. All forward-looking statements speak only as of the date of this Annual Report. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our expectations change, whether as a result of new information, future events or otherwise. We also caution you that such forward-looking statements are subject to risks, uncertainties and other factors, not all of which are known to us or within our control, and that actual events or results may differ materially from those indicated by these forward-looking statements. Factors that could cause our actual results to differ materially from our expectations include, but are not

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View this 10-K filing on SEC EDGAR