Identiv Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 15, 2024
INVE$2.66+0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows used in operating activities: | |||
| Net income (loss) | $(5,489) | $(392) | $1,620 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 2,732 | 2,272 | 1,971 |
| Provision for (recovery from) credit losses | — | — | 2,562 |
| Gain on forgiveness of Paycheck Protection Program note | — | — | (2,946) |
| Gain on investment | (132) | (30) | (611) |
| Accretion of interest on contractual payment obligation | — | — | 43 |
| Loss on disposal of fixed assets | — | 68 | — |
| Amortization of debt issuance costs | 43 | — | 108 |
| Stock-based compensation expense | 3,971 | 3,161 | 2,606 |
| Impairment of right-of-use operating lease asset | — | — | 281 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 2,890 | (5,051) | (3,572) |
| Inventories | 219 | (9,330) | 389 |
| Prepaid expenses and other assets | (361) | (1,210) | (12) |
| Accounts payable | (2,530) | 4,073 | (441) |
| Contractual payment obligation liability | — | — | (1,083) |
| Deferred revenue | 613 | 222 | 67 |
| Accrued expenses and other liabilities | (799) | (1,590) | 246 |
| Net cash provided by (used in) operating activities | 1,157 | (7,807) | 1,228 |
| Cash flows from investing activities: | |||
| Capital expenditures | (4,284) | (3,902) | (2,087) |
| Proceeds from investment | 132 | 30 | 611 |
| Net cash used in investing activities | (4,152) | (3,872) | (1,476) |
| Cash flows from financing activities: | |||
| Borrowings under revolving loan facility, net of issuance costs | 23,906 | — | 3,964 |
| Repayments under revolving loan facility | (14,000) | — | (18,548) |
| Repayments of April 21 Funds promissory notes | — | — | (2,800) |
| Proceeds from the sale of common stock, net of issuance costs | — | — | 37,627 |
| Taxes paid related to net share settlement of restricted stock units | (796) | (1,039) | (1,201) |
| Proceeds from exercise of warrants | 963 | — | — |
| Proceeds from exercise of stock options | — | — | 299 |
| Net cash provided by (used in) financing activities | 10,073 | (1,039) | 19,341 |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | 169 | 48 | (695) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 7,247 | (12,670) | 18,398 |
| Cash, cash equivalents and restricted cash | |||
| Beginning of period | 17,137 | 29,807 | 11,409 |
| End of period | $24,384 | $17,137 | $29,807 |
| Supplemental Disclosures of Cash Flow Information: | |||
| Interest paid | $451 | $6 | $340 |
| Taxes paid, net | $123 | $88 | $74 |
| Non-cash investing and financing activities: | |||
| Dividends earned on Series B preferred stock | $1,266 | $1,206 | $1,148 |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $2,368 | $3,646 | $183 |
| Reclassification of debt issuance costs to prepaid expenses and other current assets | $— | $— | $114 |
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