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Jun 30, 2023
Impinj Q2 2023 Earnings Report
Second-quarter revenue set a new record, with strong systems revenue offsetting weak endpoint IC revenue from retail apparel inventory destocking.
Key Takeaways
Impinj reported a record revenue of $86.0 million in Q2 2023, driven by strong systems revenue which offset the weakness in endpoint IC revenue due to retail apparel inventory destocking. The company anticipates ongoing headwinds from apparel inventory destocking and a weak retail macroenvironment to offset enterprise solutions strength in Q3.
Second-quarter revenue reached a new record.
Strong systems revenue helped offset weak endpoint IC revenue.
Retail apparel inventory destocking impacted endpoint IC revenue.
The company expects ongoing headwinds from apparel inventory destocking and a weak retail macroenvironment in Q3.
Forward Guidance
For the third quarter of 2023, Impinj expects revenue between $63.0 million and $66.0 million and a GAAP net loss per share between ($0.73) and ($0.67).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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