During the first quarter of 2017, revenue grew 47% year-over-year to $31.7 million. GAAP gross margin was 52.9%; non-GAAP gross margin was 54.2%. GAAP net loss was $2.2 million, or loss of $0.11 per diluted share using 20.3 million shares. Adjusted EBITDA was $0.2 million.
“We delivered a solid first quarter, with revenue growing 47% over last year driven by the team’s strong execution and continued market adoption of our platform,” said Chris Diorio, Impinj co-founder and CEO. “We are pleased with the steady progress toward our vision of digital life for everyday items, and we will continue investing in this massive market opportunity to further enhance our leading market position.”