Impinj Inc Stock Price, News & Analysis

Impinj, Inc. (NASDAQ: PI) has promoted Hussein Mecklai to chief operating officer, responsible for engineering and operations. Joining Impinj in 2018, Mecklai has over 20 years of experience, previously serving at Intel. His leadership has enhanced product performance and integration at Impinj, which focuses on RAIN RFID technology. Mecklai emphasized the potential for increased adoption of RAIN RFID in retail and logistics, aiming to connect billions of items to the Internet. Impinj's mission is to deliver timely data for a boundless Internet of Things.

Impinj, Inc. (NASDAQ: PI) has announced that its fourth-quarter 2021 revenue is expected to exceed $52 million, surpassing previous guidance of $46.0 – $48.0 million. This positive outlook signals strong performance in the RAIN RFID sector. Additionally, CEO Chris Diorio and CFO Cary Baker will participate in a fireside chat at the Needham Virtual Growth Conference on January 11, 2022. Financial results for the fourth quarter and full year are set to be released on February 9, 2022, after market close.

Impinj, Inc. (NASDAQ: PI), a leader in RAIN RFID and IoT, announced that CFO Cary Baker will participate in a fireside chat at the Raymond James Technology Investors Conference on December 7, 2021, at 3:10 p.m. ET. A live audio webcast will be available on Impinj's website, with an archived version for 90 days post-event. Impinj connects billions of everyday items to the Internet, providing timely data for business applications.

Impinj, Inc. (NASDAQ: PI) has priced a private offering of $250 million in Convertible Senior Notes due 2027, increasing from an initial $225 million. The offering is expected to close on November 5, 2021, with net proceeds of about $241.9 million. The notes carry a 1.125% interest rate and are convertible at an initial price of approximately $111.04 per share. Impinj plans to use around $184.2 million from the proceeds to repurchase outstanding 2.00% convertible senior notes due 2026. The offering will bolster its financial structure and support general corporate purposes.

Impinj, Inc. (NASDAQ: PI) plans to offer $225 million of Convertible Senior Notes due 2027 in a private offering, subject to market conditions. An additional $33.75 million option may be granted to initial purchasers. The notes will be senior, unsecured, and convertible into cash, stock, or a mix. Proceeds will repurchase a portion of outstanding 2.00% Convertible Senior Notes due 2026 and for general corporate purposes. Market activities related to the repurchase could affect stock prices and conversion rates.

Impinj, a leader in RAIN RFID technology, reported its third-quarter financial results for 2021, showcasing revenue of $45.2 million and a GAAP gross margin of 50.9%. Despite exceeding revenue expectations, the company faced a GAAP net loss of $12.9 million, resulting in a loss of $(0.53) per diluted share with 24.3 million shares outstanding. The adjusted EBITDA loss was $0.4 million, while the non-GAAP net loss was $0.9 million or $(0.04) per diluted share. Impinj's outlook for the fourth quarter reflects ongoing market challenges, impacting anticipated performance.

Impinj, Inc. (NASDAQ: PI) will release its third-quarter financial results for the period ending September 30, 2021, after U.S. markets close on October 27, 2021. Following the release, a conference call will take place at 5:00 p.m. ET, where management will discuss the results and provide an outlook for the fourth quarter. Interested listeners can join via phone or webcast. Additionally, an archived version of the call and related financial data will be accessible on Impinj's website.

Impinj, Inc. (NASDAQ: PI) announced that co-founder and CEO Chris Diorio will participate in the virtual Piper Sandler Global Technology Conference on September 13-14, 2021. A pre-recorded presentation will be accessible on the Impinj website starting September 9, 2021, at 4:00 p.m. ET, and will remain available for 90 days. Additionally, one-on-one meetings can be scheduled on September 14, 2021, exclusively via Piper Sandler. Impinj specializes in connecting everyday items to the Internet using RAIN RFID technology, enhancing business and consumer applications.

Impinj (NASDAQ: PI), a leader in RAIN RFID technology, will participate in two virtual investor conferences. The CFO, Cary Baker, will engage in a fireside chat at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 10, 2021, at 1:15 p.m. ET. CEO Chris Diorio will speak at the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 2:00 p.m. ET. Both sessions will be available via live audio webcast on the company's investor website, with an archived version accessible for 90 days after each event.