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Sep 30, 2024
Impinj Q3 2024 Earnings Report
Impinj's third-quarter results were strong, with revenue and profitability well above guidance.
Key Takeaways
Impinj reported strong third-quarter results with revenue of $95.2 million and GAAP net income of $0.2 million, demonstrating leverage in their operating model.
Revenue reached $95.2 million.
GAAP gross margin was 50.0%, while non-GAAP gross margin was 52.4%.
GAAP net income was $0.2 million, or $0.01 per diluted share.
Non-GAAP net income was $16.9 million, or $0.56 per diluted share.
Forward Guidance
Impinj anticipates revenue between $91.0 million and $94.0 million for the fourth quarter of 2024, with a GAAP net loss ranging from ($3.8) million to ($2.3) million. Non-GAAP net income is expected to be between $13.4 million and $14.9 million, resulting in a non-GAAP net income per share between $0.45 and $0.49.
Positive Outlook
- Revenue is expected to be between $91.0 million and $94.0 million.
- Adjusted EBITDA income is projected to be $13.6 million to $15.1 million.
- Non-GAAP net income is forecasted to be $13.4 million to $14.9 million.
- Non-GAAP net income per share is expected to be $0.45 to $0.49.
- The guidance reflects continued growth and profitability.
Challenges Ahead
- GAAP net loss is projected to be ($3.8) million to ($2.3) million.
- GAAP net loss per share is expected to be ($0.14) to ($0.08).
- Actual results may differ materially due to market conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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