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Impinj Announces Third Quarter 2017 Financial Results

Revenue grew 5% year-over-year to $32.6 million, with GAAP gross margin of 52.1%.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Impinj, Inc. announced its financial results for the third quarter ended Sept. 30, 2017.
 
Third quarter 2017 revenue grew 5% year-over-year to $32.6 million, with GAAP gross margin of 52.1%. GAAP net loss was $4.9 million, or loss of $0.23 per basic and diluted share using 20.8 million shares. Adjusted EBITDA loss was $1.5 million.
 
“We delivered a solid third quarter with strong reader and gateway volume growth,” said Chris Diorio, Impinj co-founder and CEO. “Our 2017 endpoint IC unit guidance remains unchanged at between 7.0 and 7.2 billion units. We see indicators of growing adoption for RAIN, and the Impinj platform; however, we expect to see a slight decrease in endpoint IC volumes in the second half of the year. We remain confident in our market opportunity and will continue investing in and delivering solutions and enterprise partnerships that leverage our platform, accelerate adoption and drive scale in this gigantic market opportunity.”
 





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