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Impinj Announces 3Q 2016 Financial Results

Revenue grew 50% year-over-year to $31.0 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 third quarter ended Sept. 30, 2016.
 
“We delivered a strong third quarter, exceeding our revenue and earnings guidance. Revenue in the quarter grew 50% year-over-year to reach a record $31.0 million, driven primarily by accelerating demand for our endpoint ICs, followed by growing demand for our connectivity products. We view endpoint IC volumes as an indicator of market adoption and are excited by the broad-based demand we saw this quarter,” said Chris Diorio, Impinj co-founder and CEO. “We will continue investing in this massive market opportunity to enhance our leading market position and foster adoption of our platform.”
 
 
Revenue grew 50% year-over-year to $31.0 million. GAAP gross margin of 52.8%; non-GAAP gross margin of 53.6%. GAAP net income was $0.8 million; GAAP net income attributable to common shareholders of $0.2 million, or income of $0.01 per diluted share using 16.9 million shares. Adjusted EBITDA was $2.2 million.
 

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