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Reports revenue of $65 million, GAAP gross margin of 47.3%.
November 7, 2023
By: DAVID SAVASTANO
Impinj, Inc. released its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Summary: • Revenue of $65 million • GAAP gross margin of 47.3%; non-GAAP gross margin of 50.5% • GAAP net loss of $15.8 million, or loss of $(0.59) per diluted share using 26.9 million shares • Adjusted EBITDA of $0.3 million • Non-GAAP net income of $0.1 million, or income of $0.00 per diluted share using 28.1 million shares “Third-quarter results were solid, with profitability exceeding our expectations,” said Chris Diorio, Impinj co-founder and CEO. “While macroeconomic pressures continue to impact our fourth-quarter outlook, we believe our long-term opportunity remains intact. We see early signs of retail demand improvement, strong ongoing endpoint IC unit-volume growth despite the downturn and remain optimistic for the future.”
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