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Jun 30, 2024
Impinj Q2 2024 Earnings Report
Impinj's second-quarter results were strong, setting several new records.
Key Takeaways
Impinj reported strong second-quarter results with revenue exceeding $100 million and adjusted EBITDA topping $25 million, both surpassing guidance. Free cash flow also exceeded $40 million.
Revenue of $102.5 million was reported.
GAAP gross margin was 56.1%, while non-GAAP gross margin was 58.2%.
GAAP net income was $10.0 million, or $0.34 per diluted share.
Adjusted EBITDA was $26.8 million.
Forward Guidance
Impinj's financial outlook for the third quarter of 2024 includes revenue between $91.0 million and $94.0 million and adjusted EBITDA income between $13.8 million and $15.3 million.
Positive Outlook
- Revenue is expected to be between $91.0 million and $94.0 million.
- Adjusted EBITDA income is projected to be between $13.8 million and $15.3 million.
- Non-GAAP net income is forecasted to be between $13.5 million and $15.0 million.
- Non-GAAP net income per share is expected to be between $0.46 and $0.50.
- GAAP weighted-average shares diluted are expected to be between 28.2 and 28.4 million.
Challenges Ahead
- GAAP net loss is expected to be between ($3.5) million and ($2.0) million.
- GAAP net loss per share is projected to be between ($0.12) and ($0.07).
- Actual results may differ materially due to market conditions and expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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