02.09.24
Impinj, Inc. released its financial results for the fourth quarter and year ended Dec. 31, 2023.
“2023 was another year of solid growth despite market headwinds, with annual revenue crossing the $300 million threshold for the first time,” said Chris Diorio, Impinj co-founder and CEO. “We delivered four quarters of positive adjusted EBITDA, successfully defended our intellectual property and introduced market-leading new products. As we continue driving our bold vision to connect every item in our everyday world, we remain confident in our market position and energized by the opportunities ahead.”
Fourth Quarter 2023 Financial Summary:
• Revenue of $70.7 million
• GAAP gross margin of 47.9%; non-GAAP gross margin of 50.9%
• GAAP net loss of $15.2 million, or loss of $0.56 per diluted share using 27.1 million shares
• Adjusted EBITDA of $3.0 million
• Non-GAAP net income of $2.5 million, or income of $0.09 per diluted share using 28.3 million shares
Full Year 2023 Financial Summary:
• Revenue of $307.5 million
• GAAP gross margin of 49.4%; non-GAAP gross margin of 51.9%
• GAAP net loss of $43.4 million, or loss of $1.62 per diluted share using 26.8 million shares
• Adjusted EBITDA of $21.8 million
• Non-GAAP net income of $19.8 million, or income of $0.70 per diluted share using 28.4 million shares
“2023 was another year of solid growth despite market headwinds, with annual revenue crossing the $300 million threshold for the first time,” said Chris Diorio, Impinj co-founder and CEO. “We delivered four quarters of positive adjusted EBITDA, successfully defended our intellectual property and introduced market-leading new products. As we continue driving our bold vision to connect every item in our everyday world, we remain confident in our market position and energized by the opportunities ahead.”
Fourth Quarter 2023 Financial Summary:
• Revenue of $70.7 million
• GAAP gross margin of 47.9%; non-GAAP gross margin of 50.9%
• GAAP net loss of $15.2 million, or loss of $0.56 per diluted share using 27.1 million shares
• Adjusted EBITDA of $3.0 million
• Non-GAAP net income of $2.5 million, or income of $0.09 per diluted share using 28.3 million shares
Full Year 2023 Financial Summary:
• Revenue of $307.5 million
• GAAP gross margin of 49.4%; non-GAAP gross margin of 51.9%
• GAAP net loss of $43.4 million, or loss of $1.62 per diluted share using 26.8 million shares
• Adjusted EBITDA of $21.8 million
• Non-GAAP net income of $19.8 million, or income of $0.70 per diluted share using 28.4 million shares