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Impinj Reports 1Q 2023 Financial Results

Reports revenue of $85.9 million, a record for the RAIN RFID specialist.

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By: DAVID SAVASTANO

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

Impinj, Inc., a leading provider and pioneer of RAIN RFID solutions, released its financial results for the first quarter ended March 31, 2023.

“Our first-quarter results were solid, with record revenue and a very strong multi-quarter endpoint IC backlog,” said Chris Diorio, Impinj co-founder and CEO. “With confidence in our platform solutions and the secular market growth, we are well positioned to capitalize on our opportunity.”

First Quarter 2023 Financial Summary:
• Revenue of $85.9 million
• GAAP gross margin of 50.7%; non-GAAP gross margin of 52.4%
• GAAP net loss of $4.4 million, or loss of $(0.17) per diluted share using 26.3 million shares
• Adjusted EBITDA of $8.6 million
• Non-GAAP net income of $8.7 million, or income of $0.30 per diluted share using 28.6 million shares

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