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Wed, May 11, 4:19 PM
- Identive (NASDAQ:INVE): Q1 EPS of -$0.83 may not be comparable to consensus of -$0.41.
- Revenue of $12.5M (-16.3% Y/Y) misses by $0.4M.
Fri, May 6, 2:17 PM
- Palo Alto Networks (PANW -3.7%), Proofpoint (PFPT -3.6%), Rapid7 (RPD -2.1%), Identiv (INVE -7.5%), and Vasco (VDSI -3.1%) are selling off after security tech peers FireEye (down 18.8%), Imperva (down 25.2%), and CyberArk (up 1.5%) delivered their Q1 reports.
- FireEye, likely the biggest culprit behind the selloff, posted mixed Q1 results (sales missed, EPS beat), offered light Q2 and full-year revenue guidance (full-year billings guidance was affirmed), and announced (as part of a larger management shakeup) Kevin Mandia is replacing Dave DeWalt as CEO. The company's product (hardware/software) revenue fell 16% Y/Y amid tough competition in the malware-prevention space from Palo Alto and Cisco - Palo Alto's WildFire malware-detection service has been growing like its name - while its services/subscription revenue grew 58% thanks to both organic growth and M&A.
- Imperva beat Q1 EPS estimates and posted roughly in-line revenue, but offered soft Q2 sales guidance blamed on European execution and (to some extent) web app firewall weakness. The company promises it's fixing both issues.
- CyberArk beat Q1 estimates and offered Q2/2016 guidance that was generally favorable to consensus. The company's license revenue growth slightly accelerated in Q1 to 38% from Q4's 35%.
- The PureFunds ISE Cyber Security ETF (HACK -2.3%) is down 13% YTD.
Wed, Mar. 23, 11:50 AM
- Identiv's (INVE +7.2%) Q4 miss has been accompanied by 2016 revenue guidance of $56M-$60M, below a sole analyst estimate of $67.9M and reported 2015 revenue of $60.8M (not to mention 2014's $81.2M). However, with shares going into earnings trading at a fraction of their early-2015 highs, investors are giving Identiv a pass.
- Possibly pleasing the markets: The authentication hardware/software firm expects to lower its quarterly operating expense run rate to $6M by Q2, and to achieve positive adjusted EBITDA in 2H16. Not counting goodwill impairment and restructuring charges, Q4 opex totaled $11.7M, up from $9.8M a year ago.
- CEO Steven Humphreys: "[W]e announced and implemented an organizational alignment in the first quarter of 2016 which lowered our non-manufacturing headcount by approximately 25%, and reduces our future operating expenses by approximately 40% ... Underneath the tough aggregate business results, our physical access business remains strong, our government customer base has expanded, and our Hirsch dealers and customers remain committed."
- Q4 sales (down 24% Q/Q and 33% Y/Y) were hurt by weak demand in Identiv's credential segment. The company ended 2015 with $16.7M in cash.
- Identiv's Q4 results, earnings release
Tue, Mar. 22, 4:32 PM
- Identive (NASDAQ:INVE): Q4 EPS of -$1.77 may not be comparable to consensus of -$0.54.
- Revenue of $13.07M (-32.6% Y/Y) misses by $1.83M.
Mon, Jan. 4, 3:24 PM
- Interestingly, a day in which major indices are down over 2% has proven kind to many tech and/or momentum names that endured steep losses in 2015. The list includes SunEdison (SUNE +13%), GoPro (GPRO +3.9%), ExOne (XONE +5.6%), Voxeljet (VJET +9.8%), Rubicon (RBCN +29%), Identiv (INVE +15.1%), and QuickLogic (QUIK +12.4%). Previously covered: 3D Systems/Stratasys and FireEye.
- Profit-taking by shorts who (for tax purposes) didn't want to cover in 2015 is likely a factor behind some of the moves. SunEdison had 123.1M shares (48% of its float) shorted as of Dec. 15. GoPro had 32.9M shares (50% of its float) shorted, and ExOne 2.3M shares (24% of its float) shorted.
- SunEdison rallied last week after announcing a $336M debt-for-equity exchange. Rubicon caught a bid after issuing a shareholder letter.
Dec. 10, 2015, 12:46 PM