Impinj Inc Stock Price, News & Analysis

Impinj (NASDAQ: PI) reported strong financial results for Q2 2021, with revenue of $47.3 million and a GAAP gross margin of 52.4%. The company achieved a record bookings quarter and adjusted EBITDA of $3.3 million. Although there was a GAAP net loss of $8.9 million ($(0.37) per diluted share), non-GAAP net income reached $2.7 million ($0.11 per diluted share). The CEO highlighted robust demand and the introduction of innovative products.

Impinj, a leader in RAIN RFID technology, will announce its second-quarter financial results for the period ending June 30, 2021, after market close on July 28, 2021. The company will conduct a conference call at 5:00 p.m. ET to discuss these results and provide an outlook for the third quarter. This call will be accessible to the public via phone and webcast. Impinj plans to leverage various channels, including social media and its website, for information dissemination, emphasizing transparency.

Impinj, Inc. (NASDAQ: PI) has launched three next-generation RAIN RFID reader chips: E710, E510, and E310. These low-power, high-performance systems-on-chips enhance IoT device connectivity across various sectors, including retail and logistics. Key features include up to 2x better receive sensitivity, 80% smaller designs, and 50% lower power consumption. With these advancements, Impinj aims to drive innovation in item connectivity and improve operational efficiencies. Industry partners, like Michelin, anticipate utilizing these chips for enhanced tire management and safety.

Impinj, a leader in RAIN RFID technology, has announced that CFO Cary Baker will speak at two upcoming virtual investor conferences. The first is the 16th Annual Needham Virtual Technology & Media Conference scheduled for May 19, 2021, at 9:30 a.m. ET, followed by the Baird 2021 Global Consumer, Technology & Services Conference on June 9, 2021, at 4:20 p.m. ET. Live webcasts will be accessible on the company’s website, with archived versions available for 90 days after each event.

Impinj connects everyday items to the Internet, facilitating vast data access for businesses.

Impinj, Inc. (NASDAQ: PI) announced Brian Wong as its new Chief Product Officer, effective May 10, 2021. Wong has over 35 years in technology and will lead the company's product organization, focusing on advancing Impinj's platform and the global partner ecosystem. His prior experience includes serving as CEO for multiple companies and expertise in emerging technologies such as RAIN RFID and IoT. CEO Chris Diorio expressed confidence in Wong's ability to enhance Impinj's operations and growth.

Impinj (NASDAQ: PI) reported strong first-quarter 2021 results, achieving revenue of $45.2 million, exceeding guidance. The company noted a GAAP gross margin of 48.6% and a non-GAAP gross margin of 50.3%. While there was a net loss of $9.4 million (or $0.40 per diluted share), adjusted EBITDA was positive at $0.9 million. The company indicated robust demand and growth opportunities moving forward, having also secured a record bookings quarter.

Impinj (NASDAQ: PI) will announce its financial results for Q1 2021 on April 28, 2021, post-market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results and the outlook for Q2 2021. Investors can participate by calling +1-412-317-5196 or accessing the webcast on the company's website. Replay options will be available for one hour after the call. Impinj continues its commitment to investor communication via various channels, ensuring widespread information dissemination regarding its operations and performance.

Impinj, a leader in RAIN RFID technology, announced the appointment of Steve Sanghi to its board of directors. Sanghi, a highly experienced executive with a long tenure as CEO and chairman of Microchip Technology, brings strategic insight and operational expertise to the role. Impinj Board Chair Peter van Oppen expressed enthusiasm for Sanghi's wealth of knowledge and leadership skills. Sanghi aims to leverage Impinj's growth potential in the Internet of Things market, emphasizing the company’s strong management and culture.

Impinj, Inc. (NASDAQ: PI) announced a preliminary court approval for a settlement regarding a stockholder derivative action, In re Impinj, Inc. Derivative Litigation, on February 26, 2021. The settlement includes governance changes and an insurance payment of up to $900,000 for plaintiff's attorney fees. A final settlement hearing is scheduled for May 11, 2021. The details are accessible on their Investor Relations website.