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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
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