Identiv, Inc. · NASDAQ:INVE
Identiv — Q4 2021 Earnings Presentation
18 slides from Identiv's earnings presentation, Mar 2, 2022
Slide 1: Q4 and Fiscal Year 2021 Earnings Conference Call
Q4 and Fiscal Year 2021 Earnings Conference Call Wednesday, March 2, 2022 at 5 PM ET © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE
Slide 2: Safe Harbor
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 expectati
Slide 3: Agenda
Agenda I. Q4 and FY 2021 Highlights II. Financial Review III. Business Drivers & Outlook 3 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE
Slide 4: Q4 & FY 2021 Business Highlights
Q4 & FY 2021 Business Highlights Identiv Collaborates with NXP on NFC-Enabled Secure Sensing Tags for Product Integrity and Condition Monitoring • 2021 Highlights • Revenues up 19% year-over-year to record $103.8M • RFID Unit shipments up 36% year-over-year to 185M units • Leverage: Revenues up 19%,
Slide 5: Q4 & FY 2021 Business Highlights cont'd
Q4 & FY 2021 Business Highlights cont’d • Design wins • NRE Projects: Customer commitment, unique products, margin resilience • Multiple companies • Large Medical/Pharma Company: Auto-injector and other projects • Auto-injector project progressing • Additional project: Highly-effective design, 20,00
Slide 6: Q4 & FY 2021 Business Highlights cont'd
Q4 & FY 2021 Business Highlights cont’d • Premises Segment Updates • Premises revenue up 22% YoY and 6% sequentially • Federal government sales increased 39% over Q4 2020 • Continued strong demand for improved physical security from federal, state, and local governments • Increasing Revenue Predicta
Slide 7: Q4 and Full Year 2021 Financial Overview
Q4 and Full Year 2021 Financial Overview 7 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE
Slide 8: Financial Overview
Financial Overview Metric Q4’21 FY 2021 $28.5M $103.8M Revenue 15% 19% 5% 5% Recurring Revenue (% of Revenue) -37 bps -187 bps 33% 36% GAAP Gross Margin -154 bps -303 bps 34% 37% Non-GAAP Gross Margin -187 bps -348 bps $11.3M $38.4M GAAP Operating Expenses +27% 3% GAAP Net Income (Loss) $(1.9M) $1.6
Slide 9: Segment Revenue & Non-GAAP Gross Margin
Segment Revenue & Non-GAAP Gross Margin $29.1 $28.5 $24.9 $24.8 $24.0 $23.0 $22.2 $19.0 $19.1 $10.1 $18.1 $18.7 $17.5 $15.4 $15.8 $14.8 $10.3 $11.6 $13.7 $9.9 47% 42% 38% 39% 42% 43% 41% 36% 34% 36% $12.9 $10.4 $11.0 $8.2 $9.4 $9.0 $8.5 $9.2 $8.6 $7.5 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21
Slide 10: Total Revenue & Non-GAAP Adjusted EBITDA Operating Expenses
Total Revenue & Non-GAAP Adjusted EBITDA Operating Expenses Revenue Adj. EBITDA Non-GAAP Operating Expenses % $29.1 $24.9 $24.8 $24.0 $23.0 $22.2 $19.0 $19.1 $18.1 45% 40% 40% 37% 30% 34% 33% 34% 30% 28% $3.0 $2.8 $3.2 -$0.3 $0.5 $1.4 $1.2 $0.2 $0.4 -$0.7 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2
Slide 11: Q4 2021 Cash Flow and Balance Sheet
Q4 2021 Cash Flow and Balance Sheet (in $M) Cash Position $36.4 $29.2 $1.8 ($0.3) $28.6 $(1.8) $(0.2) $(0.2) $13.1 $12.3 $11.4 $11.5 $11.1 $9.4 $8.7 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Net loss Changes in Investing Financing FX Effect Q4'21 excl. non- operating Activities activitie
Slide 12: 2022 Business Drivers and Outlook
2022 Business Drivers and Outlook 12 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE
Slide 13: 2022 RFID Drivers
2022 RFID Drivers • Strategic Partnerships to Expand our Sales Pipeline • Collaborated with NXP Semiconductors on a portfolio of NFC-enabled status detection tags for advanced IoT security, utilizing NXP’s 22x DNA chip • Partnered with Wiliot to develop and launch new Bluetooth-enabled tags for the
Slide 14: 2022 Broader Business Drivers
2022 Broader Business Drivers • Premises Demand Continues • Long-term growth trend in federal government security spending • Focus on improved physical security in federal, state and local governments • Commercial sales accelerating across multiple verticals (banking, education) • Focus on RFID Use
Slide 15: Question & Answer Session
Thank You Question & Answer Session Visit identiv.com for more information today. 15 © 2022 Identiv, Inc. | All Rights Reserved | NASDAQ: INVE
Slide 16: Income Statement
Income Statement (unaudited, in $’000) Three Months Ended Twelve Months Ended December 31, September 30, December 31, December 31, December 31, 2021 2021 2020 2021 2020 Net revenue $ 28,517 $ 29,097 $ 24,836 $ 103,769 $ 86,920 Cost of revenue 19,100 17,979 16,252 66,702 53,239 Gross profit 9,417 11,
Slide 17: Balance Sheet
Identiv, Inc. Balance Sheet Condensed Consolidated Balance Sheets (in thousands) (in $’000) (unaudited) December 31, September 30, December 31, 2021 2021 2020 ASSETS Current assets: Cash and cash equivalents $ 28,553 $ 29,218 $ 11,409 Accounts receivable, net of allowances 19,963 19,263 18,927 Inven
Slide 18: Operating Results & Non-GAAP Adjusted EBITDA Reconciliation
Operating Results & Non-GAAP Adjusted EBITDA Reconciliation (in $M) FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Reconciliation of GAAP gross profit margin and non-GAAP gross profit margin GAAP gross profit margin (%) 44% 41% 40% 40% 35% 39% 35% 37% 38% 33%