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Side-by-side financial comparison of Identiv, Inc. (INVE) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.

NexPoint Real Estate Finance, Inc. is the larger business by last-quarter revenue ($11.1M vs $6.2M, roughly 1.8× Identiv, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -60.3%, a 277.0% gap on every dollar of revenue. On growth, Identiv, Inc. posted the faster year-over-year revenue change (-7.9% vs -48.8%).

Identiv is a publicly traded Internet of Things technology company listed on the Nasdaq stock market.

NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.

INVE vs NREF — Head-to-Head

Bigger by revenue
NREF
NREF
1.8× larger
NREF
$11.1M
$6.2M
INVE
Growing faster (revenue YoY)
INVE
INVE
+40.9% gap
INVE
-7.9%
-48.8%
NREF
Higher net margin
NREF
NREF
277.0% more per $
NREF
216.6%
-60.3%
INVE

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
INVE
INVE
NREF
NREF
Revenue
$6.2M
$11.1M
Net Profit
$-3.7M
$24.0M
Gross Margin
18.1%
Operating Margin
-76.4%
Net Margin
-60.3%
216.6%
Revenue YoY
-7.9%
-48.8%
Net Profit YoY
-948.2%
58.7%
EPS (diluted)
$-0.17
$0.47

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
INVE
INVE
NREF
NREF
Q4 25
$6.2M
$11.1M
Q3 25
$5.0M
$12.5M
Q2 25
$5.0M
$12.1M
Q1 25
$5.3M
$11.5M
Q4 24
$6.7M
$21.7M
Q3 24
$6.5M
$12.5M
Q2 24
$6.7M
$6.7M
Q1 24
$6.7M
$-12.8M
Net Profit
INVE
INVE
NREF
NREF
Q4 25
$-3.7M
$24.0M
Q3 25
$-3.5M
$50.9M
Q2 25
$-6.0M
$22.3M
Q1 25
$-4.8M
$26.0M
Q4 24
$-355.0K
$15.2M
Q3 24
$85.9M
$23.3M
Q2 24
$-6.2M
$12.1M
Q1 24
$-4.6M
$-14.6M
Gross Margin
INVE
INVE
NREF
NREF
Q4 25
18.1%
Q3 25
10.7%
Q2 25
-9.4%
Q1 25
2.5%
Q4 24
-14.9%
Q3 24
3.6%
Q2 24
9.1%
Q1 24
7.3%
Operating Margin
INVE
INVE
NREF
NREF
Q4 25
-76.4%
Q3 25
-111.4%
Q2 25
-126.7%
Q1 25
-103.8%
Q4 24
-98.9%
Q3 24
-146.2%
Q2 24
-99.7%
Q1 24
-76.0%
Net Margin
INVE
INVE
NREF
NREF
Q4 25
-60.3%
216.6%
Q3 25
-68.9%
407.0%
Q2 25
-119.9%
184.5%
Q1 25
-90.9%
225.6%
Q4 24
-5.3%
69.9%
Q3 24
1315.8%
186.4%
Q2 24
-92.2%
179.7%
Q1 24
-68.5%
114.3%
EPS (diluted)
INVE
INVE
NREF
NREF
Q4 25
$-0.17
$0.47
Q3 25
$-0.15
$1.14
Q2 25
$-0.26
$0.54
Q1 25
$-0.21
$0.70
Q4 24
$0.00
$0.71
Q3 24
$3.62
$0.74
Q2 24
$-0.27
$0.40
Q1 24
$-0.21
$-0.83

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
INVE
INVE
NREF
NREF
Cash + ST InvestmentsLiquidity on hand
$128.6M
$31.1M
Total DebtLower is stronger
$771.2M
Stockholders' EquityBook value
$140.7M
$388.0M
Total Assets
$151.3M
$5.3B
Debt / EquityLower = less leverage
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
INVE
INVE
NREF
NREF
Q4 25
$128.6M
$31.1M
Q3 25
$126.3M
$17.9M
Q2 25
$129.3M
$9.1M
Q1 25
$132.4M
$19.2M
Q4 24
$135.6M
$3.9M
Q3 24
$145.4M
$34.7M
Q2 24
$18.4M
$4.3M
Q1 24
$21.6M
$13.5M
Total Debt
INVE
INVE
NREF
NREF
Q4 25
$771.2M
Q3 25
$720.9M
Q2 25
$815.6M
Q1 25
$831.5M
Q4 24
$799.3M
Q3 24
$815.5M
Q2 24
$861.0M
Q1 24
$843.3M
Stockholders' Equity
INVE
INVE
NREF
NREF
Q4 25
$140.7M
$388.0M
Q3 25
$143.7M
$375.4M
Q2 25
$146.4M
$348.2M
Q1 25
$150.5M
$343.7M
Q4 24
$154.1M
$336.5M
Q3 24
$156.7M
$335.8M
Q2 24
$65.1M
$327.5M
Q1 24
$70.2M
$327.1M
Total Assets
INVE
INVE
NREF
NREF
Q4 25
$151.3M
$5.3B
Q3 25
$151.0M
$5.3B
Q2 25
$153.9M
$5.4B
Q1 25
$158.7M
$5.4B
Q4 24
$163.2M
$5.4B
Q3 24
$177.0M
$5.7B
Q2 24
$97.8M
$6.6B
Q1 24
$101.8M
$7.1B
Debt / Equity
INVE
INVE
NREF
NREF
Q4 25
1.99×
Q3 25
1.92×
Q2 25
2.34×
Q1 25
2.42×
Q4 24
2.38×
Q3 24
2.43×
Q2 24
2.63×
Q1 24
2.58×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
INVE
INVE
NREF
NREF
Operating Cash FlowLast quarter
$3.0M
$-4.5M
Free Cash FlowOCF − Capex
$2.8M
FCF MarginFCF / Revenue
45.8%
Capex IntensityCapex / Revenue
3.3%
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters
$-7.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
INVE
INVE
NREF
NREF
Q4 25
$3.0M
$-4.5M
Q3 25
$-2.9M
$8.1M
Q2 25
$-3.6M
$3.3M
Q1 25
$-3.3M
$16.0M
Q4 24
$-5.9M
$4.4M
Q3 24
$-7.2M
$14.7M
Q2 24
$-993.0K
$-7.5M
Q1 24
$-1.3M
$17.7M
Free Cash Flow
INVE
INVE
NREF
NREF
Q4 25
$2.8M
Q3 25
$-3.2M
Q2 25
$-3.8M
Q1 25
$-3.6M
Q4 24
$-6.5M
Q3 24
$-7.7M
Q2 24
$-1.1M
Q1 24
$-1.5M
FCF Margin
INVE
INVE
NREF
NREF
Q4 25
45.8%
Q3 25
-64.5%
Q2 25
-75.8%
Q1 25
-68.0%
Q4 24
-97.7%
Q3 24
-118.2%
Q2 24
-16.7%
Q1 24
-23.0%
Capex Intensity
INVE
INVE
NREF
NREF
Q4 25
3.3%
Q3 25
7.0%
Q2 25
5.0%
Q1 25
5.7%
Q4 24
9.3%
Q3 24
7.7%
Q2 24
2.0%
Q1 24
3.5%
Cash Conversion
INVE
INVE
NREF
NREF
Q4 25
-0.19×
Q3 25
0.16×
Q2 25
0.15×
Q1 25
0.62×
Q4 24
0.29×
Q3 24
-0.08×
0.63×
Q2 24
-0.62×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

INVE
INVE

Other$3.4M55%
Europe And Middle East$2.2M36%
Asia Pacific$575.0K9%

NREF
NREF

Segment breakdown not available.

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