Impinj Announces 4Q, Full Year 2016 Financial Results

Impinj, Inc. announced its financial results for the fourth quarter and full year ended Dec. 31, 2016.
 
Full year revenue grew 43% year-over-year to $112.3 million, with GAAP gross margin of 52.9%. GAAP net loss was $1.7 million, with adjusted EBITDA of $5.1 million.
 
In the fourth quarter, revenue grew 49% year-over-year to $33.7 million. GAAP gross margin was 54.6%, and adjusted EBITDA was $2.4 million. Non-GAAP net income was $2.2 million, or income of $0.11 per diluted share using 20.7 million shares.
 
“The fourth quarter was a strong close to a landmark and transformational year for Impinj. During the year, our continued execution of our strategy and the dedication of the entire Impinj team resulted in 43% revenue growth, approximately 70% endpoint IC volume growth and improved margin,” said Chris Diorio, Impinj co-founder and CEO. “We raised a total of approximately $107 million in net proceeds in two successful equity offerings, expanding our available capital to continue investing in the massive market opportunity and enhance our leading market position.”