Impinj Inc Stock Price, News & Analysis

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 March 31, 2023, after U.S. markets close on April 26, 2023. A conference call and webcast will be held at 5:00 p.m. ET to discuss the results and provide a second-quarter 2023 outlook. Interested parties can dial +1-412-317-5196 to listen, with a live webcast available on the company’s website. Written remarks and quarterly financial data will also be accessible on the same date. Impinj employs various channels for public communication, ensuring wide dissemination of material information. The company specializes in RAIN RFID technology, linking billions of items to the Internet, enhancing data accessibility for businesses.

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.