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Identiv (INVE)

Identiv, Inc. is a global provider of physical security and secure identification. Identiv's products, software, systems, and services address the markets for physical and logical access control, video analytics, and a wide range of RFID-enabled applications. Customers in the government, enterprise, consumer, education, healthcare, banking, retail, and transportation sectors rely on Identiv's access and identification solutions. Identiv's mission is to secure the connected physical world: from perimeter to desktop access, and from the world of physical things to the Internet of Everything. Identiv is a publicly traded company and its common stock is listed on The NASDAQ Stock Market LLC in the U.S. under the symbol 'INVE.'

Company profile

Ticker
INVE
Exchange
Website
CEO
Steven Humphreys
Employees
Incorporated
Location
Fiscal year end
Former names
IDENTIVE GROUP, INC., SCM MICROSYSTEMS INC
SEC CIK
Subsidiaries
ACIG TECHNOLOGY Corp. • Microtech International Inc. • SCM Microsystems (U.S.) Inc. • Viscount Acquisition ULC • Identiv GmbH • SCM Microsystems Ltd. • Identiv Pvt. Ltd. • Identiv Pte. Ltd. ...
IRS number
770444317

INVE stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$20.00
Low target
$20.00
High target
$20.00
B. Riley Securities
Maintains
Buy
$20.00
15 Jun 22
Craig-Hallum
Initiated
Buy
$20.00
25 Apr 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 28.69M 28.69M 28.69M 28.69M 28.69M 28.69M
Cash burn (monthly) 373K (no burn) 340.33K (no burn) 11.33K (no burn)
Cash used (since last report) 1.07M n/a 978.38K n/a 32.58K n/a
Cash remaining 27.62M n/a 27.71M n/a 28.66M n/a
Runway (months of cash) 74.0 n/a 81.4 n/a 2528.4 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 22 Shapiro Nina B. Common Stock Grant Acquire A No No 0 5,733 0 147,857
1 Jun 22 Ousley James E Common Stock Grant Acquire A No No 0 8,190 0 219,298
1 Jun 22 Braun Robin R. Common Stock Grant Acquire A No No 0 5,528 0 67,201
1 Jun 22 Kremen Gary Common Stock Grant Acquire A No No 0 6,552 0 229,539
31 May 22 Steven Humphreys Common Stock Payment of exercise Dispose F No No 0 699 0 94,915
31 May 22 Steven Humphreys Common Stock Grant Acquire A No No 0 2,019 0 95,614
68.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 70 76 -7.9%
Opened positions 7 9 -22.2%
Closed positions 13 7 +85.7%
Increased positions 29 29
Reduced positions 25 27 -7.4%
13F shares Current Prev Q Change
Total value 249.99M 530.02M -52.8%
Total shares 15.39M 14.54M +5.8%
Total puts 1.9K 28.1K -93.2%
Total calls 79.5K 200.8K -60.4%
Total put/call ratio 0.0 0.1 -82.9%
Largest owners Shares Value Change
Bleichroeder 2.39M $38.61M +8.7%
Portolan Capital Management 2.03M $32.82M +16.4%
Ophir Asset Management Pty 1.81M $29.28M +53.7%
BLK Blackrock 1.32M $21.34M -0.8%
Vanguard 1.06M $17.14M -0.9%
Harbert Fund Advisors 814.75K $13.18M 0.0%
Wasatch Advisors 698.91K $11.3M +45.1%
Cooper Creek Partners Management 548.2K $8.86M +33.2%
Jacob Asset Management Of New York 409.73K $6.63M -16.5%
STT State Street 365K $5.9M +5.7%
Largest transactions Shares Bought/sold Change
Ophir Asset Management Pty 1.81M +632.68K +53.7%
Portolan Capital Management 2.03M +286.2K +16.4%
Wasatch Advisors 698.91K +217.28K +45.1%
Bleichroeder 2.39M +191.55K +8.7%
EAM Investors 0 -174.12K EXIT
Kennedy Capital Management 89.46K -152.11K -63.0%
IVZ Invesco 0 -147.41K EXIT
Cooper Creek Partners Management 548.2K +136.73K +33.2%
EAM Global Investors 0 -127.06K EXIT
Waypoint Capital Advisors 102.75K +102.75K NEW

Financial report summary

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Risks
  • We depend on a number of suppliers and contract manufacturers for the production of our products and components making us potentially vulnerable to supply disruption.
  • Our financial performance depends on the extent and pace of RFID market adoption and end-user adoption of our RFID products and the timing of new customer deployments.
  • The impact of the COVID-19 pandemic, or similar global health concerns, could negatively impact our operations, supply chain and customer base.
  • Our U.S. Government business depends upon the continuance of regulations that require federal agencies to implement security systems such as ours, and upon our ability to receive certain government approvals or certifications and demonstrate compliance in government audits or investigations. A failure to receive these government approvals or certifications or a negative audit result could result in a material adverse impact on our business, financial condition and results of operations.
  • Our percentage of revenue and customer concentration is significant in certain of our businesses.
  • Our business will not be successful if we do not keep up with the rapid changes in our industry.
  • Our business and reputation may adversely affected by information technology system failures or network disruptions.
  • Sales of our products could decline and we could be subject to legal claims for damages if our products are found to have defects.
  • A significant portion of our revenue is through an indirect sales channel, and the loss of dealers, systems integrators, resellers, or other channel partners could result in decreased revenue.
  • We depend upon third-party manufacturers and a limited number of suppliers, and if we experience disruptions in our supply chain or manufacturing, our business may suffer.
  • Our revenue and operating results are subject to significant fluctuations and such fluctuations may lead to a reduced market price for our stock.
  • Estimating the amount and mix of future revenues is difficult, and our failure to do so accurately could affect our ability to be profitable or reduce the market price for our stock.
  • If we are not able to secure additional capital when needed, our business could be adversely affected.
  • Fluctuations in foreign exchange rates between the U.S. dollar and other major currencies in which we do business may adversely affect our business, financial condition and results of operations.
  • We may not be able to protect our intellectual property rights, which could make us less competitive and cause us to lose market share.
  • We face risks from claims of third parties and litigation, which could have an adverse effect on our results of operations.
  • We have in the past been named as a defendant in putative securities class action and derivative lawsuits.
  • You may experience dilution of your ownership interests due to the future issuance of additional shares of our stock, and future sales of shares of our common stock could adversely affect our stock price.
  • Provisions in our charter documents and Delaware law may delay or prevent our acquisition by another company, which could decrease the value of your shares.
Management Discussion
  • Net revenue for the three months ended March 31, 2022 was $25.1 million, an increase of 13% compared with $22.2 million for the comparable period of 2021. Net revenue in the Americas was $16.9 million for the three months ended March 31, 2022, an increase of 12% compared to $15.1 million for the comparable period of 2021. Net revenue in Europe, the Middle East, and the Asia-Pacific was approximately $8.2 million for the three months ended March 31, 2022, an increase of 16% compared with the comparable period of 2021.
  • Net revenue in our Identity segment, which represented 58% of our net revenue, was $14.6 million for the three months ended March 31, 2022, an increase of 7% compared with $13.7 million for the comparable period of 2021. Net revenue in this segment in the Americas for the three months ended March 31, 2022 was comparable to the same period of 2021.
  • Net revenue in this segment in Europe, the Middle East, and the Asia-Pacific increased 15% for the three months ended March 31, 2022 compared with the comparable period of 2021 due to higher sales of RFID transponder products to mobile phone and consumer products contract manufacturers and higher sales of smart card readers.

Content analysis

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