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Sep 30, 2022
Impinj Q3 2022 Earnings Report
Impinj's third-quarter results were strong, with both endpoint IC and reader IC revenue setting new quarterly records.
Key Takeaways
Impinj reported strong third-quarter results, with record revenue in both endpoint IC and reader IC segments. The company's revenue reached $68.3 million, with a GAAP net loss of $2.2 million, or $(0.09) per diluted share. Non-GAAP net income was $9.3 million, or $0.34 per diluted share.
Revenue of $68.3 million.
GAAP gross margin of 54.8%; non-GAAP gross margin of 56.9%.
GAAP net loss of $2.2 million, or loss of $(0.09) per diluted share.
Non-GAAP net income of $9.3 million, or income of $0.34 per diluted share.
Impinj
Impinj
Forward Guidance
Impinj provides guidance for the fourth quarter of 2022, with revenue expected to be between $71.5 million and $73.5 million. GAAP net loss is projected to be between ($3.1) million and ($1.6) million, while non-GAAP net income is expected to be between $9.0 million and $10.5 million.
Positive Outlook
- Revenue between $71.5 million and $73.5 million.
- Adjusted EBITDA income $9.8 to $11.3
- Non-GAAP Net income $9.0 to $10.5
- Non-GAAP Net income per share — basic $0.35 to $0.40
- Non-GAAP Net income per share — diluted $0.32 to $0.37
Challenges Ahead
- GAAP Net loss ($3.1) to ($1.6)
- GAAP Net loss per share — basic and diluted ($0.12 ) to ($0.06 )
- actual results may differ materially.
- Forward-looking statements are subject to known and unknown risks and uncertainties
- Actual results may differ materially from the results predicted