Impinj, Inc. reports developments tied to its RAIN RFID platform, which connects everyday items by delivering item identity, location and authenticity data to business and consumer applications. Company updates frequently cover endpoint integrated circuits, readers, gateways and reader ICs used to identify and communicate with tagged items.
Recurring news themes include quarterly financial results, guidance, endpoint IC demand, product and technology updates such as Gen2X, licensing activity, supply-chain visibility research and capital-structure disclosures. The company also reports conference participation and public communications related to operating performance and market outlook.
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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.