Identiv : Q1 2026 Earnings Presentation

Published: 2026-05-13 16:48:23 ET INVE

Published on 05/13/2026 at 04:48 pm EDT

May 13, 2026

Non-GAAP Financial Measures (Unaudited)

This presentation 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, interest income, net, foreign currency gains (losses), 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 presentation or in the Q1 earnings release dated May 13, 2026. 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 presentation or in the Q1 earnings release dated May 13, 2026.

Trademarks

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Quarterly Business Update: Q1 2026

Financial Review: Q1 2026

Business Outlook: Perform-Accelerate-Transform

Q&A Session

Continued advancements made across our Perform,

Accelerate, and Transform strategy

Significant progress on the development of a specialized BLE label for IFCO, a leading global provider of reusable packaging solutions for fresh food

Growth in opportunity pipeline, in particular for our BLE portfolio

Q1 revenue of $7.4 million came in above guidance

As anticipated, slight gross margin decline compared to Q4 due to product mix and additional scale up costs for new customer

Metric

Q1 2026

Q1 2025

Commentary

Net Revenue

$7.4M

$5.3M

Strong customer demand; one

customer ordered full-year 2026 sales volume in Q1

GAAP Gross Margin

17.4%

2.5%

Thailand facility efficiencies and elimination of Singapore production costs

Non-GAAP Gross Margin*

23.8%

10.8%

GAAP Operating Expenses

$5.5M

$5.6M

Lower restructuring and severance expenses, partially offset by higher strategic review-related costs

Non-GAAP Operating Expenses*

$4.4M

$4.5M

GAAP Net Loss

($3.4M)

($4.8M)

Increase in sales volume in Q1 2026

EPS (GAAP) Basic and Diluted

($0.15)

($0.21)

Non-GAAP Adjusted EBITDA*

($2.7M)

($3.9M)

Thailand facility efficiencies and disciplined spending of operating expenses

* Please refer to a reconciliation of Non-GAAP to GAAP financial metrics later in this presentation or in the Q1 earnings release dated May 13, 2026. Numbers may differ due to

Financial Outlook

$ in millions

Assets

Q1'26

Q4'25

Liabilities & Equity

Q1'26

Q4'25

Cash Flow

Q1'26

Q4'25

Cash & cash

equivalents*

124.8

128.9

Accounts payable

6.5

3.6

From operations*

(2.8)

3.0

Accounts receivable

3.2

4.1

Financial liabilities

From investing

(0.9)

(0.2)

Inventory

8.9

7.4

Other liabilities

3.9

7.0

From financing

(0.4)

(0.0)

Other assets

10.7

10.9

Total equity

137.2

140.7

FX effect

(0.0)

(0.5)

Total

147.6

151.3

Total

147.6

151.3

Total

(4.1)

2.3

Financial Outlook for Q2 2026 Net Revenue: $5.4M - $6.0M**

* Includes restricted cash. Numbers may include rounding differences.

** Estimated, subject to change.

Perform

Deliver exceptional results for customers and drive operational excellence

Accelerate

Accelerate growth in key high value segments and through technology innovation

Transform

Create significant business expansion and capability growth through M&A to achieve long term success

Progress We Have Made in Q1 2026

Continued progress with Thailand team -production employees completing rigorous training for high quality and efficient production

Launched new CRM and MRP at the start of the year, enabling make-to-forecast model and continued gains in cost of goods sold

Extended contracts with two out of our

three top customers

Experienced increased website visits and click through rates with launch of new website; Growth in requests for information through website

Key 2026 Initiatives Underway

Shifting to make-to-forecast model for key customers and implementing Sales and Operations Planning process to better align inventory with customer demand and reduce lead times

Executing targeted cost reduction initiatives on key strategic products

Deepening customer engagement with bi-annual strategic customer reviews

Leveraging strengthened operational foundation to accelerate scale up of new projects and convert new opportunities to sales

Progress We Have Made in Q1 2026

Significant progress with product development and manufacturing development for IFCO

Renovations required in Thailand for custom machines largely complete

Production of 600k pilot units expected to start shortly

Mass production on schedule to start in Q4

In April, launched expanded ID-Safe inlay portfolio, which enables product authentication, tamper detection and end-to-end traceability

Honored with the IoT Connected Retail Application of the Year award in the 10th annual IoT Breakthrough Awards program

Key 2026 Initiatives Underway

Complete development and scale up of IFCO's customized BLE smart label

Drive growth in opportunity pipeline through strategic partnerships and targeted product marketing campaigns

Complete development and launch Identiv BLE ID-BLU smart label

Leverage BLE AmbientChat.ai demonstration showcasing the value of connecting the physical and digital worlds enhanced by realtime intelligence powered by AI

What it Means for Identiv

Create significant business expansion and capability growth through M&A for long-term success

Focus on expanding the business through

strategic M&A

Focus for 2026

Dedicated team working with our financial advisor, Raymond James

"Transform" remains a strategic priority in 2026

Several metrics have been developed to monitor our progress across our strategic objectives

Key Metric

Description

End of Q1

Target End of 2026

"New" Sales Pipeline and Conversion Rate

Number of opportunities with new customers, or former customers with no sales in 2+ years

124 "new" opportunities

8 converted opportunities

125 "new"

opportunities

35 converted

opportunities

New Product Development (NPD) Projects

Number of active NPD initiatives

18 active NPD projects

9 customer-driven and 9 internally-driven

NPD Project Completion

Number of customer driven NPD projects completed within the quarter shifting into commercialization

During Q1 2026, 3 customer-driven project completed for cold chain and consumable authentication applications

5-7 projects completed, including IFCO

Committed to advancing specialized IoT solutions, expanding BLE

capabilities, and leveraging advantages of Thailand-based production

By continuing to execute against our Perform, Accelerate, and Transform strategy, expect to be well-positioned to capture future growth opportunities

within the rapidly evolving global IoT market

Positioning the Company for sustained growth and stronger financial

performance in 2026

THANK YOU

Visit identiv.com for more information

Disclaimer

Identiv Inc. published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 20:44 UTC.