U.S.-based Identiv reported higher revenue and narrowed losses for the second quarter, predicting a breakeven or positive result by the end of the year, as the company’s restructuring program draws to a close.
The vendor reported that revenue increased by 23% to $22.3 million in the second quarter, driven by its credentials segment, which includes NFC tags for electronic gaming, along with the same or related technology for other Internet of Things applications and transit ticketing. As CEO Jason Hart told NFC Times recently, the company plans to continue to invest in NFC to bring identity and security to physical goods and “intelligent Internet of Things tags.”
During a conference call Wednesday, Identiv executives confirmed the company expected to finish in the black with respect to adjusted EBITDA by the end of the year. The company also repeated its previous guidance of $80 million to $90 million in sales for all of 2014, up from $75.6 million in 2013.