Identiv adds financial expert Mick Lopez to its board

SANTA ANA, Calif. - Identiv, Inc. (NASDAQ: INVE), a company specializing in RFID and BLE-enabled Internet of Things (IoT) solutions, announced today the appointment of Mick Lopez as a member of its Board of Directors. Lopez, a seasoned financial strategist with a history in public company board membership and CFO roles, is expected to contribute his expertise in mergers and acquisitions and corporate governance to the board. According to InvestingPro data, the company currently trades at an attractive Price/Book ratio of 0.48x and maintains a strong balance sheet with more cash than debt, potentially positioning it for strategic growth opportunities.

Lopez’s appointment comes as Identiv continues to focus on its specialized IoT solutions, which are designed to create digital identities for physical objects, thereby enhancing connectivity. His background includes senior financial leadership positions at companies like Cisco Systems, Tyco, and IBM, as well as CFO roles at Ribbon Communications, Vista Outdoor, Veritas Technologies, Harris Corp., and Aricent Group. Additionally, Lopez serves on the boards of Zeekr Group and GoPro, Inc. With analysts setting price targets between $6.00 and $8.50, significantly above the current trading price, InvestingPro analysis suggests the stock may be undervalued, though investors should note that analysts anticipate a sales decline in the current year.

Chairman James Ousley expressed enthusiasm for Lopez’s addition to the board, highlighting his financial acumen and experience in navigating complex business challenges. The appointment comes at a crucial time, as the company maintains a strong liquidity position with a current ratio of 19.2x, though InvestingPro data reveals the company faces challenges with profitability and cash flow management. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In the context of corporate governance, Identiv is also seeking shareholder approval to declassify its Board of Directors, aiming for the implementation of one-year terms for all director nominees by the 2026 annual meeting, pending approval of the Declassification Amendment. The company’s management has shown commitment to shareholder value through aggressive share buybacks, as highlighted in InvestingPro Tips, despite facing current market challenges.

Identiv’s solutions are integrated into over 1.5 billion applications worldwide, impacting various sectors including healthcare, consumer electronics, and luxury goods. This appointment aligns with the company’s strategic direction and governance enhancement efforts.

The company will file a definitive proxy statement with the SEC concerning its 2025 annual meeting of stockholders, where more information about the Declassification Amendment and other governance matters will be available. Identiv urges its securityholders to review these documents carefully once they become available.

This announcement is based on a press release statement from Identiv, Inc.

In other recent news, Identiv Inc. reported its fourth-quarter 2024 financial results, surpassing earnings expectations. The company posted an earnings per share (EPS) of -$0.11, outperforming the forecasted -$0.26. Revenue for the quarter reached $6.7 million, exceeding the expected $6.03 million. Identiv’s fiscal year 2024 revenue was $26.6 million, a decrease from the previous year, highlighting broader industry challenges. The company announced a strategic partnership with Novanta, focusing on technology bundling in the healthcare sector. Identiv is also transitioning RFID production to Thailand to reduce costs and improve margins. The company forecasts first-quarter 2025 revenue between $4.8 million and $5.1 million. Identiv’s strategic initiatives, including mergers and acquisitions, aim to enhance its market position.

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