07.28.23
Impinj, Inc. released its financial results for the second quarter ended June 30, 2023.
“Second-quarter revenue set a new record, with strong systems revenue offsetting weak endpoint IC revenue from retail apparel inventory destocking,” said Chris Diorio, Impinj co-founder and CEO. “We expect ongoing headwinds associated with that apparel inventory destocking, as well as weakness in the overall retail macroenvironment, to more-than-offset strength in our enterprise solutions opportunities in the third quarter.”
Second Quarter 2023 Financial Summary:
• Revenue of $86.0 million.
• GAAP gross margin of 51.0%; non-GAAP gross margin of 53.3%.
• GAAP net loss of $8.1 million, or loss of $(0.30) per diluted share using 26.7 million shares.
• Adjusted EBITDA of $10 million.
• Non-GAAP net income of $9.3 million, or income of $0.33 per diluted share using 28.5 million shares.
“Second-quarter revenue set a new record, with strong systems revenue offsetting weak endpoint IC revenue from retail apparel inventory destocking,” said Chris Diorio, Impinj co-founder and CEO. “We expect ongoing headwinds associated with that apparel inventory destocking, as well as weakness in the overall retail macroenvironment, to more-than-offset strength in our enterprise solutions opportunities in the third quarter.”
Second Quarter 2023 Financial Summary:
• Revenue of $86.0 million.
• GAAP gross margin of 51.0%; non-GAAP gross margin of 53.3%.
• GAAP net loss of $8.1 million, or loss of $(0.30) per diluted share using 26.7 million shares.
• Adjusted EBITDA of $10 million.
• Non-GAAP net income of $9.3 million, or income of $0.33 per diluted share using 28.5 million shares.