Making the Physical World Digital & Secure

Making the Physical

World Digital & Secure

INVESTOR PRESENTATION

September 2021

Safe Harbor

Note Regarding Forward-Looking Information

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of the Company's management and can be identified by words such as

"anticipates", "believes", "plans", "will", "intends", "expects", and similar references to the future. Any statement that is not a historical fact, including the statements regarding the

Company's expectations regarding future operating and financial performance, including 2021 guidance, trends, and its target business model; the impact of the Covid-19 pandemic on the Company’s business, customers and supply chain; the Company’s beliefs regarding the RFID market; the Company’s beliefs regarding its ability to achieve its business and strategic objectives and the expected benefits thereof; the Company’s beliefs regarding momentum in its business and the drivers of momentum in its business; the timing and size of customer orders and launches, and backlog levels; estimates of potential market or unit size; and the Company’s beliefs regarding the benefits and attributes of its products, and its status in the market and with customers is a forward-looking statement. Forward-looking statements are only predictions and are subject to a number of risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, actual results for 2021 and beyond, the impact of the Covid-19 pandemic; the

Company’s ability to continue the momentum in its business; the Company’s ability to successfully execute its business strategy; the level and timing of customer orders; the success of the Company’s products and partnerships; industry trends and seasonality; and factors discussed in its public reports, including its Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and subsequent reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information available to us on the date hereof, and we assume no obligation to update such forward-looking statements.

Non-GAAP Financial Measures (Unaudited)

This presentation includes financial information that has not been prepared in accordance with GAAP, including non-GAAP adjusted EBITDA, non-GAAP gross margin, non-GAAP adjusted EBITDA margin, non-GAAP free cash flow, and non-GAAP operating expenses. Identiv uses non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. The non-GAAP measures discussed above exclude items that are included in GAAP net income (loss), GAAP operating expenses, GAAP gross margin, and net cash provided by (used in) operating activities, including but not limited to provision (benefit) for income taxes, loss (gain) on extinguishment of debt, interest expense, foreign currency (gains) losses, stock-based compensation, amortization and depreciation, change in fair value of earnout liability, acquisition related transaction costs, inventory reserve adjustment, gain on sale of investments, restructuring and severance, and capital expenditures. Non-GAAP operating expenses exclude stock-based compensation, amortization and depreciation, increase in fair value of earnout liability, acquisition related transaction costs and restructuring and severance. Non- GAAP free cash flow excludes capital expenditures. For historical periods, the exclusions are detailed in the reconciliation table included in this presentation. Non-GAAP financial

measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of the non-GAAP measures to their most directly comparable GAAP financial measures as detailed in this presentation.

Technology Leading RFID

Use cases: Enabling use cases with 100’s of billions of unit potential. Next-generation NFC

& sensor technology to expand use cases

Complete life-cycle provider: Design →

prototype → pilot → ramp → scale production:

low risk, high quality, speed to market Design wins: Launching 3rd generation applications for industry leaders

Software-enabling platform with cloud, web and mobile - based ACaaS

and VSaaS

(1) Radio Frequency Identification.

(2) Near Field Communication.

(3) Access Control as aService.

(4) Video Surveillance as a Service.

Investment Thesis

✓ Inflection point: Booming RFID market

– Use cases with multi-billion-unit market potential launching now – Launches scaling up & use cases multiplying

✓ Technology leader: patented technology & IP

– Trusted first-mover: design wins with early adopters

– Technology lead and scale-up advantages established vs competitors – Proven production scale-up with industry-leader use cases

✓ Clear forward indicators

– Q3 2021 backlog up 46% sequentially; total Company backlog up 26%

year-over-year

– Recurring revenues: Consumables & SaaS

✓ Multiple Growth Drivers

– Design wins

– Use case expansion – Technology expansion

✓ Business model leverage demonstrated: Q2 2021

– Revenues grew 26% year-over-year

– Operating expenses declined 8% year-over-year

Identiv Snapshot

Our Vision: Software-enabling the Physical World

RFID embedded in every item to make the physical world digital

• Our RFID devices have been integrated into over 1½ Billion physical internet of things worldwide

• Sensor-enabled RFID: Temperature, pressure, shock, humidity, authenticity, personalization

Just the beginning - 100’s of billions potential RFID connected devices

• RFID-enabled first-mover forces competitors to adopt

• RFID products are better:

• Prescriptions for visually impaired

• Bike wheel pressure sensors

NFC/RFID: Industry Growth Inflection Point

CVS Spoken RXTM leverages RFID to read prescription information out loud for visually

impaired customers

RFID/NFC instrumented prefilled syringe verifies time, place, medication

of each injection

Nike NFC allows fans to leverage NFC to unlock exclusive content Apple MagSafe NFC-enabled platform for

intelligent mobile device accessories:

cases, wallets, chargers, more coming…

RFID on cannabis plants and packages: verify content &

compliance, track and tax Blood Analyzer with RFID-enabled

test assay cartridges for

authentication & verification

Design / Redesign

Prototype

Pilot Production

Ramp

Scale up

Customer Partnerships

Identiv’s Leading Innovation Advantage:

10+ Years, Deep IP, Trusted by Leaders

IDENTIV INNOVATION CYCLE

Vertically integrated and fast response

• Fast delivery from ideation → initial protype → full scale development

• World-class RFID design & scale-up expertise

Quickly advance technologies working alongside customers through the innovation cycle

• Custom design and rapid prototyping – unique IP, patents & designs

• Deep technical expertise from design through production World-class quality & production processes

• Singapore production: ISO 9001 and ISO 14001-certified

• Custom-developed software for security, personalization, advanced RFID device features at scale

Total solution provider

Pipeline Development

Mobile Device Accessories:

NFC/RFID

Reliability & Quality experience in noisy RF space

Pivotal role in market growth: Unique designs for Industry-leading companies + market-leading technology launches

D e si g n W in s Te ch n o lo g y La u n ch e s

Tag on Metal (patented):

Personal Transportation, App Clips

Nike Connect:

Authenticity, App integration, consumer engagement Mattel Hot Wheels:

High-speed read NFC RFID

T-Patch (temperature)

Active Version RFID Integrated Temperature &

Humidity RFID NFC Syringe RFID

Capacitance for fill- sensing

Eco Friendly NFC

RFID

Our Business Segments

IDENTITY SEGMENT: SECURING THINGS

• 38% of Q2 2021 Total Revenue

• Products to digitally enable and secure every physical place

• Security across access control, video intelligence, audio, access readers, and identities to

governments & enterprises

• Software-enabling IoT security devices

• 62% of Q2 2021 Total Revenue

• Provides pervasive RFID devices

• Bringing digital identity to physical ‘things’

• 150+ antenna designs and in-house RFID

personalization PREMISES SEGMENT: SECURING PLACES

Customers & end users: Innovative Market Leaders….

Technology leadership has built a global customer base of the most innovative, market-leading customers

Global Customers and End Users Across Broad Range of End Markets

Financial Services Retail Healthcare Consumer Other

170+ Banks Worldwide

(1) Other verticals include: communication, security, cities, education, transportation, industrial, property & infrastructure.

Technology &

Mobility

Top 3 Mobile Device Provider

…Most Demanding Security End Users

High security engineered into every device: Data integrity, security, encryption, FIPS & HIPAA compliance, trusted for the most critical security needs

Strong Government Customer Base and End Users

2 Dozen

U.S. Civilian U.S. Military International Mission Critical

Applications

Key Customer Design Win Cases

The most demanding customers, the most critical use cases: Identiv is the trusted partner

Leading Mobile Device

Manufacturer Highly Secure Federal Site CVS EastWest Bank

✓ New category of NFC-enabled intelligent phone accessories launched by industry leader

✓ Applications include payments, digital keys, health sensors and more

✓ Mobile device company controls and monetizes all accessories

✓ Custom RFID (NFC & UWB) solutions: multi-year design- in program

✓ 8 RFID solutions and 2 new products in design

✓ 2 new designs starting production ramp

✓ Size of opportunity: 500M+

units

✓ 28M units shipped to date

✓ Total, flexible perimeter access control from external gates to the presidential situation room

✓ Leveraged across secret service-secured facilities

✓ Highly secure but flexible – software-adaptable

✓ Pervasive but frictionless

✓ RFID-enabled spoken prescriptions available on every prescription bottle for visually impaired customers

✓ RFID programmers rolling out for every pharmacist station + RFID tags

✓ ~2,500 pharmacies providing RFID-enabled prescriptions (50M→100M)

✓ Consumable: recurring demand

✓ 5-year subscription service for total video intelligence solution platform

✓ ~100 branch locations:

represents $650k over 5 years of recurring revenue

✓ Predictable operating expenses replaces large capital purchases,

unpredictable technology cycles

✓ Proof point: 170+ other

financial customers with

same motivations

Q2 2021Business Highlights

• Q2 2021 Overview

• Growth: Revenues up 26% YoY

• Identity grew 27% YoY

• Premises grew 23%

• Total backlog at end of Q2 2021 up 26% year-over-year

• Leverage: total revenue up 26%, expenses down 8%

• RFID Market Growth Continues to Accelerate

• RFID up 39%

• Shipped +41 million units vs. 33 million in Q2 2020 (25% increase)

• Growth indicators:

• Customer launches and expansion

• Example: mobile device customer began full production ramp in Q3 and introduced their 2022 designs

• Example: completed prototype designs for auto-injector project (now in customer qualification)

• Design wins → expanding AUPs, gross margins & competitive advantage

• Premises Segment Rebounding

• 23% year-over-year growth

• 34% growth in federal government sales

• Strong momentum from federal govt., state and local govt., and commercial resurgence in multiple

verticals (banking, retail, travel)

• Increasingly Predictable Revenues

• Recurring revenue & customer retention

• RFID customer retention = 100%

• Expanded the use of consumables in RFID

• Grew software, services & recurring revenues to 32%

of Premises revenues

Q2 2021Business Highlights cont’d

Metric Q2’21 TTM

Revenue $24.0M

+26%

$95.9M

+21%

Recurring Revenue 5% 6%

GAAP Gross Margin 37% 37%

Non-GAAP Gross

Margin 38% 38%

GAAP Net Income

(Loss) $2.5M $0.7M

Non-GAAP Adj.

EBITDA $/Margin $1.2M/

5% $5.8M/

6%

EPS (GAAP) $0.09 $(0.02)

Cash Flows From Operating Activities

(GAAP) $(2.5)M $(0.4)M

Growth

• Q2 revenue +26% versus Q2’20

• RFID revenue up 39% YoY

• Q3’21 backlog exiting Q2’21 $14.6M, up 46% sequentially

• Orders booked the first three weeks of Q3’21 are up 44%

from the year prior

• Software, services & recurring revenues expanded to 32% of Premises revenues – sequential increase from 24% in Q1

Business model leverage

• Q2 operating expenses down 8% YoY, revenues up 26%

YoY

• Capital-light: Investing activities / Cap Ex at Q2 $0.5M

Recent Results & Momentum: Q2’21

Segment Revenue & Non-GAAP Gross Margin

$9.3 $10.7

$12.9

$8.6 $8.2 $7.5 $9.4 $9.0 $8.5 $9.2

$10.2

$11.6 $10.1

$10.3 $9.9

$11.6

$15.4 $15.8

$13.7 $14.8

$19.5

$22.2 $23.0

$19.0 $18.1 $19.1

$24.9 $24.8

$22.2 $24.0

46% 46% 47% 42%

43% 42%

41%

36% 36% 38%

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21

Premises

Identity

Total Revenue & Non-GAAP Adjusted EBITDA Operating Expenses

$19.5

$22.2 $23.0

$19.0 $18.1 $19.1

$24.9 $24.8

$22.2 $24.0

$1.2 $2.4 $3.0

$0.2 -$0.3 $0.5

$2.8 $1.4 $0.4 $1.2

40% 35% 34% 40%

45% 40% 30% 30%

34% 33%

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21

Revenue Adj. EBITDA

Non-GAAP Operating Expenses %

Q2 2021 Cash Flow and Balance Sheet (in $M)

Assets Q2’20 Q1’21 Q2’21

Equity &

Liabilities Q2’20 Q1’21 Q2’21 Cash Flow Q2’20 Q1’21 Q2’21

Cash & cash

equivalents 13.1 11.5 36.4 Accounts

payable 9.2 10.2 8.6 From operations (0.6) (0.4) (2.5)

Accounts

receivable 18.0 18.9 17.7 Financial

liabilities 23.0 22.3 9.9 From investing (0.5) (1.1) (0.5)

Inventory 18.7 19.3 21.9 Other liabilities 13.8 12.8 13.7 From financing 5.3 2.0 27.9

Other assets 28.7 28.6 29.9 Total Equity 32.5 33.0 73.7 FX effect 0.1 (0.3) (0.1)

Total 78.5 78.3 105.9 Total 78.5 78.3 105.9 Total 4.4 0.1 24.9

Cash Position

$8.9 $11.1 $11.1 $9.4 $8.7

$13.1 $12.3 $11.4 $11.5

$36.4

$0.8 $(3.2) $(0.5)

($0.1)

$27.9

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Net loss

excl. non- cash items

Changes in operating assets and

liabilities

Investing Activities

Financing activities

FX Effect Q2'21

RFID: Massive & expanding TAM

• Core driver for growth: continued market leadership and increasing predictability

• Market opportunity: hundreds of billions of units, pervasive use cases Federal government expansion

• 30% growth trend continuing

• Leading security reputation with flagship security adopters Design wins with multi-million-unit potential

• Consumables + technology turnover

• Record RFID design-in pipeline, multi-million-unit design wins Recurring Revenue & Customer Retention

• Consumables + technology turnover

• 100% customer retention in RFID

• RMR products launched across Premises product lines

Strategic Priorities and Business Drivers

Investment Thesis

✓ Inflection point: Booming RFID market

– Use cases with multi-billion-unit market potential launching now – Launches scaling up & use cases multiplying

✓ Technology leader: patented technology & IP

– Trusted First-mover: Design wins with early adopters

– Technology lead and scale-up advantages established vs competitors – Proven production scale-up with industry-leader use cases

✓ Clear forward indicators

– Q3 2021 backlog up 46% sequentially; total Company backlog up 26% year-over- year

– Recurring revenues: Consumables & SaaS

✓ Multiple Growth Drivers

– Design wins

– Use case expansion – Technology expansion

✓ Business model leverage demonstrated: Q2 2021

– Revenues grew 26% year-over-year

– Operating expenses declined 8% year-over-year

Appendix

RFID becoming pervasive with devices & infrastructure Competitive forces drive industries to follow early- adopters

Identity

✓ Digitally enabling and securing every physical thing

✓ Embedded RFID solutions to make digital and physical devices

responsive, secure, feature- rich, interactive and customer- connected

✓ Identiv RFID devices integrated into and digitally-enabling over a billion and a half physical devices

✓ Reaches end users through strategic semiconductor partnerships,

distributors and OEMS via digital and conventional marketing

Necessity of physical and information security

Segment Description Products

Key Growth Drivers

✓ Innovation cycle drives

technology leadership especially in sensors

✓ Design → prototype → pilot → production → redesign

✓ First-mover advantage with patented technology & trade secrets

✓ 150+ antenna designs

✓ Established high-end provider and partner with industry leading early adopters

✓ Strategic solution partnerships with key chip providers

Why Identiv Wins

Cyber breaches driving much

greater cyber security requirements Technology driving accelerated upgrade cycles

IT teams taking over physical security

Premises

Why Identiv Wins

$11.9

$17.1

Segment Description Products

Key Growth Drivers

✓ First-mover advantage with

patented technology & trade secrets

✓ High barriers to entry

✓ Established customer base, particularly in government

✓ Total solution provider in an environment where

increasingly complex cyber attacks are driving vendor consolidation

✓ Software, readers, panels, credentials, sensors,

encompassing door access, video, audio and CRM

Integration

✓ Premises business: digitally enabling and securing every physical place

✓ Physical and logical security

platforms: Secure, convenient and responsive experience in physical spaces

✓ Deployed across buildings worldwide

✓ From sensitive government facilities to schools, utilities, hospitals, stores and the

smallest shops and apartment

buildings worldwide

Income Statement

(unaudited, in $’000)

June 30, March 31, June 30, June 30, June 30,

2021 2021 2020 2021 2020

Net revenue $ 23,993 $ 22,162 $ 19,105 $ 46,155 $ 37,225

Cost of revenue 15,153 14,470 11,393 29,623 22,013 Gross profit 8,840 7,692 7,712 16,532 15,212 Operating expenses:

Research and development 2,131 2,337 2,422 4,468 5,018 Selling and marketing 4,147 4,064 4,236 8,211 8,733 General and administrative 2,595 2,125 2,151 4,720 4,342 Decrease in fair value of earnout liability — — (261) — (261) Restructuring and severance 274 388 1,417 662 1,482 Total operating expenses 9,147 8,914 9,965 18,061 19,314 Loss from operations (307) (1,222) (2,253) (1,529) (4,102) Non-operating income (expense):

Interest expense, net (144) (245) (407) (389) (659) Gain on forgiveness of Paycheck Protection Program note 2,946 — — 2,946 — Foreign currency gains (losses), net — 46 (30) 46 56 Income (loss) before income tax provision 2,495 (1,421) (2,690) 1,074 (4,705)

Income tax provision (29) (44) (59) (73) (91) Net income (loss) 2,466 (1,465) (2,749) 1,001 (4,796) Cumulative dividends on Series B preferred stock (286) (284) (272) (570) (543) Net income (loss) attributable to common stockholders $ 2,180 $ (1,749) $ (3,021) $ 431 $ (5,339) Net income (loss) per share:

Basic $ 0.10 $ (0.09) $ (0.17) $ 0.02 $ (0.30) Diluted $ 0.09 $ (0.09) $ (0.17) $ 0.02 $ (0.30) Weighted average shares used in computing net income (loss)

per common share:

Basic 21,908 18,443 17,941 20,185 17,730

Diluted 28,751 18,443 17,941 21,092 17,730

Three Months Ended Six Months Ended

Identiv, Inc.

Consolidated Statements of Operations (in thousands, except per share data)

(unaudited)

Balance Sheet

(in $’000)

2021 2021 2020

ASSETS Current assets:

Cash and cash equivalents $ 36,370 $ 11,518 $ 11,409 Accounts receivable, net of allowances 17,746 18,911 18,927

Inventories 21,894 19,308 20,296

Prepaid expenses and other assets 4,676 3,065 2,813 Total current assets 80,686 52,802 53,445 Property and equipment, net 4,101 3,768 2,827 Operating lease right-of-use assets 2,683 2,974 3,405 Intangible assets, net 7,036 7,299 7,563

Goodwill 10,299 10,281 10,266

Other assets 1,094 1,142 1,171

Total assets $ 105,899 $ 78,266 $ 78,677

LIABILITIES AND STOCKHOLDERS´ EQUITY Current liabilities:

Accounts payable $ 8,635 $ 10,217 $ 10,964 Contractual payment obligation 531 788 1,040 Financial liabilities 9,853 22,334 20,084 Operating lease liabilities 1,265 1,243 1,279 Deferred revenue 2,340 1,634 1,981 Accrued compensation and related benefits 2,943 2,858 2,985 Other accrued expenses and liabilities 4,537 3,643 3,240 Total current liabilities 30,104 42,717 41,573 Long-term operating lease liabilities 1,556 1,875 2,272 Long-term deferred revenue 281 331 385 Other long-term liabilities 268 363 258 Total liabilities 32,209 45,286 44,488

Identiv, Inc.

Consolidated Balance Sheets (in thousands)

(unaudited)

Operating Results & Non-GAAP Adjusted EBITDA Reconciliation

(in $M)

Reconciliation of GAAP gross profit margin and non-GAAP gross profit margin

GAAP gross profit margin (%) 45% 44% 46% 40% 44% 41% 40% 40% 35% 39% 35% 37%

GAAP gross profit $8.7 $9.9 $10.5 $7.5 $36.7 $7.5 $7.7 $9.9 $8.6 $33.7 $7.7 $8.8

Stock-based compensation $0.0 $0.0 $0.0 $0.0 $0.1 $0.0 $0.0 $0.0 $0.0 $0.2 $0.0 $0.0

Amortization and depreciation $0.3 $0.3 $0.3 $0.3 $1.3 $0.3 $0.3 $0.3 $0.3 $1.2 $0.2 $0.3

Transponder inventory reserve adjustment $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0

Total reconciling items included in GAAP gross profit $0.3 $0.4 $0.4 $0.4 $1.4 $0.3 $0.4 $0.4 $0.4 $1.2 $0.3 $0.3

Non-GAAP gross profit $9.0 $10.3 $10.9 $7.9 $38.1 $7.8 $8.1 $10.2 $8.9 $34.9 $8.0 $9.1

Non-GAAP gross profit margin (%) 46% 46% 47% 42% 45% 43% 42% 41% 36% 40% 36% 38%

Reconciliation of GAAP operating expenses to non-GAAP operating expenses

GAAP operating expenses $9.1 $9.1 $9.3 $9.3 $36.8 $9.3 $10.0 $8.9 $8.9 $37.1 $8.9 $9.1

Stock-based compensation ($0.7) ($0.7) ($0.7) ($0.5) ($2.5) ($0.6) ($0.7) ($0.7) ($0.8) ($2.9) ($0.7) ($0.6)

Amortization and depreciation ($0.6) ($0.6) ($0.6) ($0.6) ($2.3) ($0.6) ($0.5) ($0.5) ($0.5) ($2.1) ($0.2) ($0.2)

Increase in fair value of earnout liability $0.0 $0.0 ($0.2) ($0.4) ($0.6) $0.0 $0.3 $0.0 $0.0 $0.3 $0.0 $0.0

Acquisition related transaction costs ($0.1) ($0.0) ($0.0) ($0.0) ($0.1) $0.0 ($0.0) ($0.0) $0.0 $0.0 $0.0 $0.0

Restructuring and severance $0.0 $0.0 $0.1 ($0.1) ($0.0) ($0.1) ($1.4) ($0.2) ($0.1) ($1.7) ($0.4) ($0.3)

Total reconciling items included in GAAP operating expenses ($1.3) ($1.2) ($1.4) ($1.6) ($5.5) ($1.2) ($2.4) ($1.4) ($1.4) ($6.4) ($1.4) ($1.2)

Non-GAAP operating expenses $7.9 $7.8 $7.9 $7.7 $31.3 $8.1 $7.6 $7.5 $7.5 $30.7 $7.6 $8.0

Reconciliation of GAAP net income (loss) to non-GAAP adjusted EBITDA

GAAP net income (loss) ($0.8) $0.4 $1.1 ($1.8) ($1.2) ($2.0) ($2.7) $0.4 ($0.7) ($5.1) ($1.5) $2.5

Provision (benefit) for income taxes $0.1 $0.1 $0.1 $0.0 $0.3 $0.0 $0.1 $0.0 ($0.0) $0.1 $0.0 $0.0

Interest expense, net $0.3 $0.2 $0.2 $0.2 $0.9 $0.3 $0.4 $0.4 $0.4 $1.5 $0.2 $0.1

Loss (gain) on extinguishment of debt $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 ($2.9)

Foreign currency (gains) losses, net $0.0 $0.1 ($0.2) $0.0 ($0.1) ($0.1) $0.0 $0.2 $0.0 $0.1 $0.0 $0.0

Stock-based compensation $0.7 $0.7 $0.7 $0.6 $2.7 $0.6 $0.8 $0.8 $0.8 $3.0 $0.8 $0.7

Amortization and depreciation $0.9 $0.9 $1.0 $0.9 $3.6 $0.8 $0.8 $0.8 $0.8 $3.3 $0.5 $0.5

Increase in fair value of earnout liability $0.0 $0.0 $0.2 $0.4 $0.6 $0.0 ($0.3) $0.0 $0.0 ($0.3) $0.0 $0.0

Acquisition related transaction costs $0.1 $0.0 $0.0 $0.0 $0.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0

Transponder related inventory reserve adjustment $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0

Gain on sale of investment $0.0 $0.0 $0.0 ($0.1) ($0.1) $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0

Restructuring and severance ($0.0) ($0.0) ($0.1) $0.1 $0.0 $0.1 $1.4 $0.2 $0.1 $1.7 $0.4 $0.3

Total reconciling items included in GAAP net income (loss) $2.0 $2.0 $1.9 $2.0 $7.9 $1.8 $3.2 $2.4 $2.1 $9.5 $1.9 ($1.3)

Non-GAAP adjusted EBITDA $1.2 $2.4 $3.0 $0.2 $6.8 ($0.3) $0.5 $2.8 $1.4 $4.4 $0.4 $1.2

Non-GAAP adjusted EBITDA margin (%) 6% 11% 13% 1% 8% (2%) 2% 11% 6% 5% 2% 5%

GAAP net cash (used in) provided by operating activities $1.5 $0.9 ($1.1) ($0.9) $0.4 ($3.7) ($0.6) ($1.1) $3.6 ($1.8) ($0.4) ($2.5)

Capital expenditures ($0.1) ($0.0) ($0.1) ($0.1) ($0.3) ($0.1) ($0.4) ($0.3) ($0.7) ($1.5) ($1.1) ($0.5)

Non-GAAP free cash flow $1.4 $0.9 ($1.2) ($1.0) $0.1 ($3.8) ($1.0) ($1.4) $2.9 ($3.3) ($1.5) ($3.0)

Reconciliation of GAAP net cash (used in) provided by operating activities to non- GAAP free cash flow