U.S.-based Identive Group reported an 81% year-over-year growth in transponder sales but a loss for the quarter overall, in preliminary second quarter results the vendor released Friday.
Based on Identive’s preliminary figures, the company’s estimated second quarter revenue was $23.6 million, up slightly from the first quarter’s $21.1 million. Operating expenses continued to decrease, down 11% year over year to $11.9 million for the quarter. The company expects to report an adjusted EBITDA loss of $1 million for the quarter. Identive Group mainly supplies secure ID technology, readers and transponders.
Q2 Tag Orders Grow
In its announcement of the preliminary results Friday, Identive CEO Ayman S. Ashour spoke of the importance of “capturing share in new, potentially hyper-growth opportunities including NFC (and) cashless payments,” and NFC tags made up 25% of the company’s quarterly total of 46 million RFID tag and inlay shipments.