Identiv, Inc. (NASDAQ:INVE) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Steven Humphreys - President & Chief Executive Officer
Kirsten Newquist - President, IoT Solutions
Justin Scarpulla - Chief Financial Officer

Conference Call Participants

Jaeson Schmidt - Lake Street
Stacy Che - B. Riley

Operator

Good afternoon. Welcome to Identiv's presentation of its Second Quarter 2024 Earnings Call. My name is Holly and I will be your operator this afternoon. Joining us for today's presentation are the company's CEO, Steven Humphreys; CFO, Justin Scarpulla; and President IoT Solutions, Kirsten Newquist. Following managements remarks, we will open up the call for questions.

Before we begin, please note that during this call, management may be making references to non-GAAP financial measures or guidance, including non-GAAP adjusted EBITDA, non-GAAP gross margin, and non-GAAP operating expenses.

In addition, during the call, management will be making forward-looking statements. Any statement that refers to expectations, projections or other characteristics of future events, including the pending asset sale transaction, future business, and market conditions and opportunities, and future plans and prospects, including with respect to the transaction and Identiv's post-closing business, is a forward-looking statement. Actual results may differ materially from those expressed in the forward-looking statements. For more information, please refer to the risk factors discussed in documents filed from time to time with the SEC, including the company's latest annual report on Form 10-K and quarterly reports on Form 10-Q as well as our second quarter 10-Q once filed. Identiv assumes no obligation to update these forward-looking statements.

I will now turn the call over to CEO, Steven Humphreys for his comments. Sir, please proceed.

Steven Humphreys

Thanks operator, and thank you all for joining us. The second quarter accomplished the three main goals for the business to build our base for the company's long-term future. First, Kirsten Newquist, the President of our IoT business and soon to be CEO of Identiv made great progress understanding our core IoT business and developing a rigorous plan for future growth.

Second, we cleared all but the last one of the process hurdles to close our transaction to divest our security business lines. And third, our combined total company revenues exceeded consensus estimates delivering the results needed to keep our strategy on track. I'll address the Q2 results in the context of the transaction and support for the business going forward and then turn the call over to Kirsten.