Identiv Reports Third Quarter 2025 Financial Results (Form 8-K)

Identiv Reports Third Quarter 2025 Financial Results

First Full Quarter of Thailand-Based Production Drove Expanded Gross Margins

Significant Progress in BLE Innovation, Strengthening Identiv's BLE Market Leadership

Santa Ana, Calif. - November 10, 2025 - Identiv, Inc. (NASDAQ: INVE), a global leader in RFID- and BLE-enabled Internet of Things (IoT) solutions, today released its financial results for the third quarter ended September 30, 2025.

"Focused execution of our Perform-Accelerate-Transform (P-A-T) strategy drove the improvement and expansion of our gross margins in the third quarter," said Identiv CEO Kirsten Newquist. "As the value proposition of our RFID and BLE solutions resonates deeply with customers, we believe that we are strategically positioned to lead in a market driven by compelling long-term secular trends."

Financial Results for Fiscal Third Quarter 2025

Revenue for the third quarter of 2025 was $5.0 million, compared to $6.5 million in the third quarter of 2024. This year-over-year decrease was as expected and due to lower sales as we exited lower-margin business earlier in the year.

Third quarter 2025 GAAP gross margin was 10.7% and non-GAAP gross margin was 19.1%, compared to third quarter 2024 GAAP gross margin of 3.6% and non-GAAP gross margin of 9.3%. The year-over-year improvement primarily reflects the completion of the transition of all production to Thailand, which contributed to reduced manufacturing overhead and direct labor costs.

GAAP operating expenses, including research and development, selling and marketing, general and administrative, and restructuring and severance, were $6.1 million in the third quarter of 2025, compared to $9.8 million in the third quarter of 2024. The decrease in GAAP operating expenses was driven primarily by a reduction in strategic review-related costs. Non-GAAP operating expenses were $4.5 million in the third quarter of 2025, compared to $5.1 million in the third quarter of 2024. The decrease in non-GAAP operating expenses reflects management's disciplined resource allocation in support of the Company's organic growth initiatives as outlined in the P-A-T strategic framework.

Third quarter 2025 GAAP net loss from continuing operations was ($3.5) million, or ($0.15) per basic and diluted share, compared to GAAP net loss from continuing operations of ($9.3) million, or ($0.40) per basic and diluted share, in the third quarter of 2024. This reduction was primarily due to strategic review-related costs associated with the physical security asset sale of $3.6 million incurred in the third quarter of 2024 compared to $0.4 million in the third quarter of 2025.

Non-GAAP adjusted EBITDA loss in the third quarter of 2025 was ($3.6) million, compared to ($4.5) million in the third quarter of 2024. This was primarily due to the reduction in fixed manufacturing costs at our Singapore facility, improved utilization of our manufacturing production facility in Thailand, as well as management's continued targeted allocation of operating expenses as we execute on our P-A-T strategic initiatives.

Financial Outlook

Identiv provides guidance based on current market conditions and expectations, including macroeconomic conditions and customer demand. For the fourth quarter of fiscal 2025, management currently expects net revenue to be in the range of $5.4 million to $5.9 million.

Conference Call

Identiv management will hold a conference call today, November 10, 2025, at 5:00 p.m. EST (2:00 p.m. PST) to discuss the company's third quarter 2025 financial results. A question-and-answer session will follow management's presentation.

Toll-Free: +1 877-545-0523

International Number: +1 973-528-0016

Call ID: 405893

Webcast link: Register and Join

The teleconference replay will be available through November 24, 2025, by dialing +1 877-481-4010 (Toll-Free Replay Number) or +1 919-882-2331 (International Replay Number) and entering passcode 53068.

If you have any difficulty connecting with the teleconference, please contact Identiv Investor Relations at [email protected].

About Identiv

Identiv's RFID- and BLE-enabled IoT solutions create digital identities for physical objects, enhancing global connectivity for businesses, people, and the planet. Its solutions, integrated into over 2.0 billion applications worldwide, drive innovation across healthcare, consumer electronics, luxury goods, smart packaging, and more. For additional information, visit identiv.com.

Non-GAAP Financial Measures

This press release includes financial information that has not been prepared in accordance with accounting principles generally accepted in the United States (GAAP), including non-GAAP adjusted EBITDA, non-GAAP gross profit, non-GAAP gross margin and non-GAAP operating expenses. Identiv uses non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating ongoing operational performance. Identiv believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. Non-GAAP gross profit and margin exclude stock-based compensation and amortization and depreciation. Non-GAAP adjusted EBITDA excludes items that are included in GAAP net loss, GAAP operating expenses, and GAAP gross margin, and excludes income tax provision (benefit), interest income, net, foreign currency losses (gains), net, stock-based compensation, amortization and depreciation, restructuring and severance, and strategic review-related costs. Non-GAAP operating expenses exclude stock-based compensation, amortization and depreciation, strategic review-related costs, and restructuring and severance. The exclusions are detailed in the reconciliation table included in this press release. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures as detailed in this press release.

Note Regarding Forward-Looking Information