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Mar 31, 2024
Impinj Q1 2024 Earnings Report
Impinj's first quarter 2024 financial results were reported, with revenue and profitability exceeding expectations.
Key Takeaways
Impinj reported a strong start to 2024, with revenue reaching $76.8 million and GAAP net income of $33.3 million, or $1.10 per diluted share.
Revenue reached $76.8 million.
GAAP gross margin was 48.9%, while non-GAAP gross margin was 51.5%.
GAAP net income was $33.3 million, or $1.10 per diluted share.
Non-GAAP net income was $6.2 million, or $0.21 per diluted share.
Impinj
Impinj
Forward Guidance
For the second quarter of 2024, Impinj expects revenue between $96.0 million and $99.0 million, GAAP net income between $5.9 million and $7.4 million, and non-GAAP net income between $21.7 million and $23.2 million.
Positive Outlook
- Revenue between $96.0 million and $99.0 million.
- GAAP Net income between $5.9 million and $7.4 million
- Adjusted EBITDA income $23.9 million to $25.4 million
- GAAP Net income per share — diluted $0.20 to $0.25
- Non-GAAP Net income per share — diluted $0.72 to $0.77