Identiv Reports Q2 Results and ‘Disappointing’ Start to 2015; but Cites New Customer Wins

NFC Times Exclusive Insight – U.S.-based Identiv revised its full-year revenue guidance downward during its second quarter earnings call on Thursday, but the company’s leadership continues to predict positive adjusted EBITDA by the end of the year.

CEO Jason Hart acknowledged some problems in the first half of 2015 and told investors and analysts that revenue for the first half of the year had fallen below the company’s expectations, but he contended that Identiv had received new design wins and would see increased revenue in the third quarter.

The company is also undertaking new cost-cutting measures to reduce its operating expenses, and Hart said that Identiv would focus more resources on its core businesses–likely referring in part to its tag business for Internet of Things applications, which primarily includes NFC–in the coming quarters.