Identiv Reports Solid Revenue Growth

Identiv (NASDAQ:INVE), identify and physical security company announced a 10 percent uptick in revenues year-over-year, reaching US$22.2 million. This marks the company’s 12th quarter of positive adjusted EBITDA in a row.

As quoted in the press release:

Revenue for the second quarter of 2019 was $22.2 million, an increase of 10% from $20.3 million in the second quarter of 2018 and an increase of 14% from $19.5 million in the first quarter of 2019.

Revenue in the Premises segment increased 21% from the second quarter of 2018 and increased 14% from the prior quarter to $10.7 million. Revenue in the Identity segment increased 1% from the second quarter of 2018 and increased 13% from the prior quarter to $11.6 million. The year-over-year growth in the Identity segment mainly reflects strong international growth in smart card reader and reader module sales which grew 11% year over year.  In addition, the revenue increase reflects the contribution of all products including the Thursby Software Systems acquisition and international growth in access cards, partially offset by the as-anticipated lower access cards sales in the Americas region.

Click here to read the full press release.