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Impinj Announces 2Q 2017 Financial Results

Revenue rose 31% year-over-year to $34.1 million.

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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 second quarter ended June 30, 2017.
 
“We delivered a strong second quarter, with revenue growing 31% year-over-year to $34.1 million,” said Chris Diorio, Impinj co-founder and CEO. “We are pleased with our results and execution in the quarter as we continue making progress toward our vision of digital life for everyday items.
 
“We continue seeing strong indicators of growing adoption of RAIN and the Impinj platform across multiple verticals, including retail, healthcare and logistics,” Diorio continued. “However, as we enter the third quarter we see schedule slips in planned rollout expansions at several large end customers, and consequently, we are revising our 2017 full-year endpoint IC estimate to be between 7.0 billion to 7.2 billion units. We remain confident in our market opportunity and will continue investing to enhance our leading market position.”
 
During the second quarter of 2017, revenue grew 31% year-over-year to $34.1 million. GAAP gross margin was 53.3%, with non-GAAP gross margin of 54.7%. GAAP net loss was $1.0 million, or loss of $0.05 per basic and diluted share using 20.6 million shares. The company reported adjusted EBITDA of $1.4 million.

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