Identiv, Inc. (NASDAQ:INVE) Q1 2024 Earnings Call Transcript

Jaeson Schmidt: Got it. And then just as a follow-up, I know you called out specialty retail, smart packaging and smart home devices. Obviously you already have exposure in those today, but truly scale within each of those markets. Do you think you need to build out the sales infrastructure in a significant way? Or do you have everything in-house today?

Kirsten Newquist: Yeah. No, I think definitely. And that’s why once again, our my initial priority is really getting clarity on our strategic focus. So we’ve definitely got some really intriguing projects already in those spaces. And so as we’re looking at healthcare and the time line for health care and some of the applications there, we definitely think we can pursue some of those other segments proactively as well on. But we really have to balance it and obviously, to be able to go directly into those different segments, we want to build out a business development effort, those business development efforts has to be tied specifically to the vertical itself. So we’re going to have to be really careful with how many we take on and because obviously there’ll be an investment on the business development side of it as we want to go deep into specific segments.

Operator: Thank you. That concludes our Q&A session. I’ll now hand the conference back to CEO, Steven Humphreys, for closing remarks. Please go ahead.

Steven Humphreys: All right. Thanks, operator, and thank you all again for joining us. We’ll continue to update you all on the business. Progress in the KPIs as Kirsten laid out in her discussion and on our progress and time line for closure of our transaction. Of course, for details of the transaction and the business going forward, please do review our preliminary proxy that’s already on file with the SEC, and we expect to file our definitive proxy in the upcoming weeks. And at that point, we’ll announce the date for our annual meeting and stockholder vote on the transaction. In terms of investor outreach, we’ll be attending the B. Riley Conference on May 22nd. And Craig Hallum is a is on track to set up a fireside chat session in early June, and we’ll also share business updates following our shareholder vote, of course and the AGM.

And if you have any questions, please don’t hesitate to reach out to SOP in our Investor Relations team. So thank you all again, and have a very good evening.

Operator: Thank you, everyone. This concludes today’s event. You may disconnect at this time, and have a wonderful day. Thank you for your participation.