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Impinj, Inc. (NASDAQ: PI) is a pioneering company in the field of RAIN RFID solutions, connecting billions of everyday items to the digital world. Known for its advanced platform, Impinj seamlessly integrates endpoint integrated circuits (ICs) and connectivity layers to deliver real-time information about an item's identity, location, and authenticity. This technology, termed item intelligence™, plays a crucial role in applications such as inventory management, patient safety, asset tracking, and item authentication.
The Impinj platform includes miniature radios-on-a-chip that attach to various items, and a connectivity layer comprising readers, gateways, and reader ICs. These components work together to wirelessly identify, locate, authenticate, and engage with endpoint ICs, providing essential data to businesses and consumers.
With a strong presence across the Americas, Asia Pacific, Europe, the Middle East, and Africa, Impinj derives significant revenue from its operations in the Asia Pacific region. The company's solutions empower industries by ensuring efficient tracking and management of items such as apparel, medical supplies, automobile parts, and even food and luggage.
Recent achievements include advancements in their RAIN RFID technology, expanding partnerships with key industry players, and ongoing projects aimed at enhancing the scalability and efficiency of their platform. Impinj's commitment to innovation makes it a significant player in the Internet of Things (IoT) landscape, continually pushing the boundaries of what is possible with RFID technology.
Impinj, a leader in RAIN RFID solutions, reported strong financial results for Q1 2023, with record revenue of $85.9 million. The company achieved a GAAP gross margin of 50.7% and a non-GAAP gross margin of 52.4%. Despite a GAAP net loss of $4.4 million (loss of $(0.17) per share), non-GAAP net income was $8.7 million, translating to $0.30 per diluted share. Adjusted EBITDA stood at $8.6 million. CEO Chris Diorio expressed confidence in the company's backlog and overall market growth potential. The outlook for Q2 2023 reflects the company’s commitment to leverage its platform solutions amidst changing market dynamics.
Impinj, Inc. (NASDAQ: PI) will release its financial results for the first quarter ended
Impinj, Inc. (NASDAQ: PI) has announced that Miron Washington will join its board of directors starting April 2, 2023. Washington brings over 25 years of experience in B2C/B2B ecommerce, global supply chain operations, and digital transformation, expected to aid Impinj in its growth phase. The board chair, Steve Sanghi, noted Washington's extensive background will support the company in enhancing operational efficiency and customer experience. Washington is currently the chief digital officer at Parts Town and previously held executive roles at major companies including Home Depot and Amazon.
Impinj, Inc. (NASDAQ: PI) reported financial results for Q4 and the full year 2022, highlighting a robust performance. Q4 revenue reached $76.6 million, with a GAAP gross margin of 52.4% and adjusted EBITDA of $11.8 million. The company noted a minimal GAAP net loss of $0.1 million. For the full year, Impinj's revenue was $257.8 million, with a GAAP net loss of $24.3 million. Non-GAAP net income stood at $26.3 million, or $0.96 per diluted share. The company is optimistic about growth opportunities as it heads into 2023, although guidance for Q1 2023 remains cautious based on prevailing market conditions.
Impinj, Inc. (NASDAQ: PI) has updated its fourth-quarter 2022 revenue expectation to exceed $76 million, surpassing prior guidance of $71.5 million to $73.5 million. This announcement signals a positive outlook for the company. CFO Cary Baker will participate in a fireside chat at the 25th Annual Needham Growth Conference on January 11, 2023.
The company’s fourth-quarter financial results will be disclosed on February 8, 2023, and a conference call will follow to discuss the results and first-quarter outlook.
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