Slide 1: Earnings Conference Call Q4 and FY 2024
Earnings Conference Call Q4 and FY 2024 March 5, 2025
Slide 2: Safe Harbor | Note Regarding Forward-Looking Information
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 expecta
Slide 3: Safe Harbor | Note Regarding Forward-Looking Information (con't.)
Safe Harbor | Note Regarding Forward-Looking Information (con’t.) Non-GAAP Financial Measures (Unaudited) This presentation includes financial information that has not been prepared in accordance with GAAP, including non-GAAP adjusted EBITDA, non-GAAP gross margin, and non-GAAP operating expenses. I
Slide 4: Agenda
AGENDA • Business Update – Q4 2024 • Financial Review – Q4 and Fiscal Year 2024 • Perform-Accelerate-Transform Strategic Framework • Q&A Session © 2025 Identiv, Inc. All Rights Reserved | 4
Slide 5: Business Update | Q4 2024
Business Update | Q4 2024 • Execution of Perform-Accelerate-Transform strategy underway • P-A-T Objective: strengthen and optimize the core “channel” business, accelerate growth through focused key initiatives, and transform the business into a market leader • Kim Macaulay became new head of commerc
Slide 6: Financial Review | Q4 and FY 2024
Financial Review | Q4 and FY 2024
Slide 7: Financial Results | Q4 2024
Financial Results | Q4 2024 Metric Q4 2024 Q4 2023 Net Revenue $6.7M $11.3M GAAP Gross Margin -14.9% 16.2% Non-GAAP Gross Margin* -5.2% 19.5% GAAP Operating Expenses $5.6M $5.2M Non-GAAP Operating Expenses* $4.1M $4.1M GAAP Net Loss from Continuing Operations** ($4.3M) ($3.3M) EPS from Continuing Op
Slide 8: Financial Results | FY 2024
Financial Results | FY 2024 Metric FY 2024 FY 2023 Net Revenue $26.6M $43.4M GAAP Gross Margin 1.3% 13.8% Non-GAAP Gross Margin* 8.0% 16.6% GAAP Operating Expenses $28.3M $19.5M Non-GAAP Operating Expenses* $17.9M $16.7M GAAP Net Loss from Continuing Operations** ($25.9M) ($13.9M) EPS from Continuin
Slide 9: Q4 2024 Cash Flow and Balance Sheet
Q4 2024 Cash Flow and Balance Sheet ($ in millions) Assets Q3'24 Q4'24 Liabilities & Equity Q3'24 Q4'24 Cash Flow Q3'24 Q4'24 Cash & cash equivalents* 145.7 135.9 Accounts payable 6.0 2.7 From operations* (7.2) (5.9) Accounts receivable 4.8 4.2 Financial liabilities - - From investing 142.9 (1.0) In
Slide 10: Capital Allocation Framework
Capital Allocation Framework* Intended Use of Capital Target Allocation Organic core business + growth investments 25% - 30% Strategic M&A 35% - 40% Working Capital Purposes 25% - 30% Stock Repurchase Program $10.0M * Estimated, subject to change. © 2025 Identiv, Inc. All Rights Reserved | 10
Slide 11: Net Cash Use and Q1 2025 Outlook
Net Cash Use and Q1 2025 Outlook ➔ Expected net operating cash use for the 12 months following the end of Q3 2024 remains in the range of $14 million to $16 million* ➔ Repurchased approx. 464,000 shares of stock for $1.9 million in Q4 2024 ➔ Expected Q1 2025 revenue: $4.8 million to $5.1 million* *
Slide 12: Business Outlook: Perform. Accelerate. Transform.
Business Outlook Perform. Accelerate. Transform.
Slide 13: Strong Macro Trends Driving Demand for Identiv's Unique Value Proposition
Strong Macro Trends Driving Demand for Identiv’s Unique Value Proposition Strong Macro Trends Driving Demand for RFID and Next Gen Technologies Compelling Benefits from Digital ID of Products through RFID Identiv Plans To Execute its “Perform, Accelerate, and Transform” Strategy to Grow Sales Emergi
Slide 14: Perform. Accelerate. Transform. Our Strategy for Success
Perform. Accelerate. Transform. Our Strategy for Success Perform Accelerate Transform Deliver exceptional results for Accelerate growth in key high value Create significant business customers and drive operational segments and through technology expansion and capability growth excellence innovation
Slide 15: Perform | Strengthen & Expand the Core Business
Perform | Strengthen & Expand the Core Business Progress We Have Made What It Means For Identiv • New commercial leader with strong customer- • Expand Core “Channel” Business centric approach • Grow market share focused on higher • Enhanced partner marketing program led by margin opportunities newly
Slide 16: Accelerate | Growth in High-Value Segments
Accelerate | Growth in High-Value Segments What It Means For Identiv Progress We Have Made • Added business development leader to drive Accelerate growth by focusing/investing in three efforts within healthcare vertical compelling growth initiatives, each with a strong NPV • Signed strategic partner
Slide 17: Transform | Strategic M&A
Transform | Strategic M&A What It Means For Identiv Progress We Have Made • Assessed 100+ companies to refine list to a select • Expedite reaching EBITDA breakeven group of targets through acquisitions to build scale and expand products/capabilities, while • Prioritizing opportunities that are finan
Slide 18: Introduction of P-A-T Metrics
Introduction of P-A-T Metrics • Several metrics have been developed to track P-A-T progress, which we will be reporting quarterly beginning on our Q1 2025 Earnings call in May • In 2025, we will be developing our baseline and will establish targets for these metrics in 2026 Key Metric Description •
Slide 19: Key Takeaways
Key Takeaways Long-term secular trends driving robust demand in RFID and next- 1 generation remain strong Identiv is well-equipped with the capabilities and RFID-related 2 technology to capitalize on this growing demand Ample financial resources support the execution of our Perform, 3 Accelerate, Tr
Slide 20: Thank You
THANK YOU Visit identiv.com for more information © 2025 Identiv, Inc. All Rights Reserved 20 | 20
Slide 21: Appendix
Appendix
Slide 22: Condensed Consolidated Statements of Operations
Condensed Consolidated Identiv, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) Statements of Operations (unaudited) Three Months Ended Year Ended (unaudited, $ in thousands) December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Net revenu
Slide 23: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (unaudited, $ in thousands) © 2025 Identiv, Inc. All Rights Reserved | 23
Slide 24: Reconciliation of GAAP to Non-GAAP Financial Information – Continuing Operations
Reconciliation of GAAP to Non-GAAP Financial Information – Continuing Operations (unaudited, $ in thousands) © 2025 Identiv, Inc. All Rights Reserved | 24