Identiv, Inc. Files 10-Q for Q2 2024

TL;DR

Identiv 10-Q filed: Q2 2024 financials out, revenue and geographic risks detailed.

AI Summary

Identiv, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial data and business segments are presented, with specific mentions of revenue from customer contracts and geographic concentration risks, particularly in the Asia Pacific and Europe/Middle East regions.

Why It Matters

This filing provides investors with a quarterly update on Identiv's financial health and business operations, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing indicates geographic concentration risks, which can expose the company to volatility from specific regions.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• 2024-06-30 — As of Date (Key financial data is presented as of this date.)

Key Players & Entities

• Identiv, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240809 (date) — Filing date of the 10-Q
• Asia Pacific (location) — Region with geographic concentration risk
• Europe and Middle East (location) — Region with geographic concentration risk

FAQ

Key Financial Figures

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

Filing Documents

• inve-20240630.htm (10-Q) — 2331KB
• inve-ex10_1.htm (EX-10.1) — 20KB
• inve-ex31_1.htm (EX-31.1) — 14KB
• inve-ex31_2.htm (EX-31.2) — 14KB
• inve-ex32.htm (EX-32) — 12KB
• 0000950170-24-094283.txt ( ) — 10245KB
• inve-20240630.xsd (EX-101.SCH) — 1505KB
• inve-20240630_htm.xml (XML) — 2044KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information Item 6. Exhibits 41

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Fin ancial Statements

Item 1. Fin ancial Statements IDENTIV, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited, in thousands, except par value) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 18,435 $ 23,312 Restricted cash 566 1,072 Accounts receivable, net of allowances of $ 687 and $ 1,610 as of June 30, 2024 and December 31, 2023, respectively 3,716 7,404 Inventories 11,267 13,560 Prepaid expenses and other current assets 1,797 1,222 Current assets held-for-sale 33,600 32,916 Total current assets 69,381 79,486 Property and equipment, net 7,669 8,472 Operating lease right-of-use assets 2,228 2,289 Other assets 681 678 Non-current assets held-for-sale 17,801 18,798 Total assets $ 97,760 $ 109,723 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,946 $ 4,652 Financial liabilities, net of debt issuance costs of $ 95 and $ 51 as of June 30, 2024 and December 31, 2023, respectively 7,905 9,949 Operating lease liabilities 815 782 Accrued compensation and related benefits 1,191 1,376 Other accrued expenses and liabilities 3,036 1,021 Current liabilities held-for-sale 12,334 13,002 Total current liabilities 28,227 30,782 Long-term operating lease liabilities 1,393 1,507 Other long-term liabilities 27 26 Non-current liabilities held-for-sale 3,056 3,136 Total liabilities 32,703 35,451 Commitments and contingencies (see Note 15) Stockholders' equity: Preferred stock, $ 0.001 par value: 10,000 shares authorized; 5,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 5 5 Common stock, $ 0.001 par value: 50,000 shares authorized; 25,190 and 24,902 shares issued and 23,448 and 23,247 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 25 25 Additional paid-in capital 503,246 500,752 Treasury st

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View this 10-Q filing on SEC EDGAR