Identiv (NASDAQ: INVE ) released first-quarter financial results and hosted an earnings call on Wednesday. Read the complete transcript below.
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Access the full call at https://ir.identiv.com/webcast-registration?event_id=35548
Summary
Identiv Inc reported first quarter 2026 sales of $7.4 million, exceeding guidance and showing strong demand from existing and new customers.
The company completed the transition to its Thailand manufacturing facility, improving gross margins significantly from the previous year.
Strategic initiatives include the exclusive supply agreement with IFCO and the development of BLE Smart Labels, with mass production expected in Q4 2026.
Identiv Inc's outlook for Q2 2026 anticipates sales between $5.4 to $6.0 million, reflecting a pull-forward of orders and some demand softening in consumer-facing sectors.
Management highlighted strong progress in strategic initiatives, including a robust pipeline for new product developments and a targeted approach to expanding customer relationships.
Full Transcript
Tom (Operator)
Kirsten Newquist (Chief Executive Officer)
Ed Kernbauer (Chief Financial Officer)
Kirsten Newquist (Chief Executive Officer)
Tom (Operator)
Anthony Stoss (Equity Analyst)
Kirsten Newquist (Chief Executive Officer)
Anthony Stoss (Equity Analyst)
Oh, sorry, go ahead. I was going to say the resources. Do you have enough resources to handle new customers when you're wrapping ifco?
Kirsten Newquist (Chief Executive Officer)
Ed Kernbauer (Chief Financial Officer)
Tom (Operator)
Okay, thank you. Thank you. Your next question is coming from Craig Ellis from B. Riley. Craig, your line is live. Please go ahead.
Craig Ellis (Equity Analyst)
Yeah, Kirsten, Ed, thanks for taking the questions. I wanted to start with just a clarification. We knew that there would be a benefit in the first quarter as we refract material that would be used through the year. But it seemed either that or something else was a little bit greater than at least what I was expecting. Can you look back at the first quarter and help us with what it was that drove revenues a little bit better than I think some of us were expecting?
Kirsten Newquist (Chief Executive Officer)
Craig Ellis (Equity Analyst)
And on that point, Kirsten, because that was going to be my second question. Is there a regional dynamic to that or is it in any particular part of the consumer facing businesses that you have? Just help us understand how broadly that's being observed within the consumer facing businesses.
Kirsten Newquist (Chief Executive Officer)
Craig Ellis (Equity Analyst)
Kirsten Newquist (Chief Executive Officer)
Craig Ellis (Equity Analyst)
Sure. Regarding the bigger ones, do you feel like you have line of sight on anything that could convert in the large size?
Kirsten Newquist (Chief Executive Officer)
Tom (Operator)
Thank you. Your next question is coming from Jason Schmidt from Lake Street. Jason, your line is live. Please go ahead.
Jason Schmidt (Equity Analyst)
Hey guys, thanks for taking my questions. Just want to follow up on the commentary surrounding kind of macro concern concerns, understanding maybe demand forecasts are a little softer than anticipated. But are you seeing any cancellations within your pipeline?
Kirsten Newquist (Chief Executive Officer)
We're not seeing cancellations. I'd say what we're seeing is, as you just mentioned, softening forecasts or interest in perhaps pushing some orders out. So that's more what we are seeing
Jason Schmidt (Equity Analyst)
as opposed to just outright cancellations. Gotcha. And then just as a follow up understanding with the ramp of ifco, there could be some incremental expenses. But how should we think at a high level of OPEX trending this year?
Ed Kernbauer (Chief Financial Officer)
Yeah, I'll take that question. I would expect OPEX would. It's relatively consistent with, with what it had been last year and we have, with the cost structure that we have in place, we don't expect to see any significant increases in OPEX in the next quarter or for the rest of the year as well.
Jason Schmidt (Equity Analyst)
Pretty much flat. Okay, perfect. Thanks a lot, guys.
Tom (Operator)
Thank you. And as a reminder, if anyone wishes to join the queue at this time, you May press star1 on your telephone keypad. Once again, it will be star one if you wish to join Q to ask a question. And it appears there are no further questions in queue at this time. I'll now like to pass the floor back to management for any closing remarks.
Kirsten Newquist (Chief Executive Officer)
Well, I wanted to thank everyone for joining. We appreciate you spending the time with us this evening and we're looking forward to another good quarter in quarter two. So thank you for joining us.
Tom (Operator)
Thank you. This does conclude today's conference call. You may disconnect your lines at this time and have a wonderful day.
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