$INVE

Identiv, Inc.

CIK:0001036044|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenue	$ 5,681	$ 5,040	$ 13,094	$ 10,309
Cost of revenue	4,765	5,514	10,887	10,651
Gross profit (loss)	916	(474)	2,207	(342)
Operating expenses:
Research and development	950	890	1,951	1,677
Selling and marketing	1,290	1,546	2,639	2,953
General and administrative	4,128	3,057	7,251	6,203
Restructuring and severance	59	420	81	680
Total operating expenses	6,427	5,913	11,922	11,513
Loss from operations	(5,511)	(6,387)	(9,715)	(11,855)
Non-operating income (expense):
Interest income, net	995	1,320	2,042	2,532
Foreign currency losses, net	(125)	(870)	(411)	(1,400)
Loss before income tax provision	(4,641)	(5,937)	(8,084)	(10,723)
Income tax provision	(12)	(105)	(17)	(108)
Net loss	(4,653)	(6,042)	(8,101)	(10,831)
Other comprehensive loss:
Foreign currency translation adjustment, net of tax	(51)	1,236	(422)	1,828
Comprehensive loss	$ (4,704)	$ (4,806)	$ (8,523)	$ (9,003)
Net loss per common share:
Basic	$ (0.2)	$ (0.26)	$ (0.35)	$ (0.47)
Diluted	$ (0.2)	$ (0.26)	$ (0.35)	$ (0.47)
Weighted average shares used in computing net loss per common share:
Basic	24,219	23,760	24,129	23,679
Diluted	24,219	23,760	24,129	23,679

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (8,101)	$ (10,831)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,105	980
Amortization of operating lease right-of-use assets	222	307
Stock-based compensation expense	1,344	1,703
Impairment of operating lease right-of-use assets		346
Changes in operating assets and liabilities:
Accounts receivable	1,656	783
Inventories	(1,066)	1,369
Prepaid expenses and other assets	783	208
Accounts payable	(1,141)	(933)
Deferred revenue	(2,760)
Accrued income taxes payable	(2)	51
Accrued expenses and other liabilities	996	(448)
Operating lease liabilities	(231)	(383)
Net cash used in operating activities	(7,195)	(6,848)
Cash flows from investing activities:
Capital expenditures	(1,589)	(553)
Net cash used in investing activities	(1,589)	(553)
Cash flows from financing activities:
Taxes paid related to net share settlement of restricted stock units	(441)	(354)
Net cash used in financing activities	(441)	(354)
Effect of exchange rates on cash, cash equivalents, and restricted cash	23	1,448
Net decrease in cash, cash equivalents, and restricted cash	(9,202)	(6,307)
Cash, cash equivalents, and restricted cash at beginning of period	128,909	135,946
Cash, cash equivalents, and restricted cash at end of period	119,707	129,639
Supplemental disclosures of cash flow information:
Taxes paid	9	158
Non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 79	$ 40

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 119,407,000	$ 128,609,000
Restricted cash	300,000	300,000
Accounts receivable, net of allowances of $668 and $657 as of June 30, 2026 and December 31, 2025, respectively	2,428,000	4,070,000
Inventories	8,501,000	7,419,000
Prepaid expenses and other current assets	1,661,000	2,267,000
Total current assets	132,297,000	142,665,000
Property and equipment, net	7,364,000	7,316,000
Operating lease right-of-use assets	696,000	841,000
Other assets	325,000	515,000
Total assets	140,682,000	151,337,000
Current liabilities:
Accounts payable	2,502,000	3,619,000
Operating lease liabilities	331,000	331,000
Deferred revenue	0	2,760,000
Accrued compensation and related benefits	988,000	776,000
Accrued income taxes payable	286,000	288,000
Other accrued expenses and liabilities	2,395,000	1,619,000
Total current liabilities	6,502,000	9,393,000
Long-term operating lease liabilities	375,000	525,000
Other long-term liabilities	723,000	718,000
Total liabilities	7,600,000	10,636,000
Commitments and contingencies (see Note 13)
Stockholders' equity:
Common stock, $0.001 par value: 50,000 shares authorized; 26,860 and 26,436 shares issued and 24,059 and 23,765 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	27,000	26,000
Additional paid-in capital	514,028,000	512,684,000
Treasury stock, 2,801 and 2,671 shares as of June 30, 2026 and December 31, 2025, respectively	(17,362,000)	(16,921,000)
Accumulated deficit	(366,154,000)	(358,053,000)
Accumulated other comprehensive income	2,538,000	2,960,000
Total stockholders' equity	133,082,000	140,701,000
Total liabilities and stockholders' equity	140,682,000	151,337,000
Series B Preferred Stock
Stockholders' equity:
Series B preferred stock, $0.001 par value: 5,000 shares authorized; 5,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	$ 5,000	$ 5,000