Printed Electronics Now Staff08.04.20
Impinj, Inc. released its financial results for the second quarter ended June 30, 2020.
“Covid-19 negatively impacted our second-quarter results, and the continuing uncertainty tempers our third-quarter outlook,” said Chris Diorio, Impinj co-founder and CEO. “Regardless, we see brightness ahead. Endpoint IC bookings are improving, large systems opportunities are accelerating and, longer term, we see adoption accelerating as leading end users leverage the improved visibility, insights, virtualization and customer experience that RAIN brings to their businesses.”
During the second quarter 2020, Impinj reported revenue of $26.5 million, GAAP gross margin of 49% and non-GAAP gross margin of 51.4%, with a GAAP net loss of $17.5 million, or loss of $0.77 per diluted share using 22.7 million shares. Impinj had adjusted EBITDA loss of $5.2 million.
Impinj is continuing to monitor the impact of Covid-19 on its business, including how Covid-19 will affect customers, end users, suppliers and other business partners. However, given the uncertainty regarding the duration and severity of the epidemiological, economic and operational impacts of Covid-19, as of the date of this report Impinj cannot reasonably estimate the pandemic’s impact on its operating results for third-quarter 2020 or future periods.
“Covid-19 negatively impacted our second-quarter results, and the continuing uncertainty tempers our third-quarter outlook,” said Chris Diorio, Impinj co-founder and CEO. “Regardless, we see brightness ahead. Endpoint IC bookings are improving, large systems opportunities are accelerating and, longer term, we see adoption accelerating as leading end users leverage the improved visibility, insights, virtualization and customer experience that RAIN brings to their businesses.”
During the second quarter 2020, Impinj reported revenue of $26.5 million, GAAP gross margin of 49% and non-GAAP gross margin of 51.4%, with a GAAP net loss of $17.5 million, or loss of $0.77 per diluted share using 22.7 million shares. Impinj had adjusted EBITDA loss of $5.2 million.
Impinj is continuing to monitor the impact of Covid-19 on its business, including how Covid-19 will affect customers, end users, suppliers and other business partners. However, given the uncertainty regarding the duration and severity of the epidemiological, economic and operational impacts of Covid-19, as of the date of this report Impinj cannot reasonably estimate the pandemic’s impact on its operating results for third-quarter 2020 or future periods.