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Reports revenue of $85.9 million, a record for the RAIN RFID specialist.
April 28, 2023
By: DAVID SAVASTANO
Impinj, Inc., a leading provider and pioneer of RAIN RFID solutions, released its financial results for the first quarter ended March 31, 2023. “Our first-quarter results were solid, with record revenue and a very strong multi-quarter endpoint IC backlog,” said Chris Diorio, Impinj co-founder and CEO. “With confidence in our platform solutions and the secular market growth, we are well positioned to capitalize on our opportunity.” First Quarter 2023 Financial Summary: • Revenue of $85.9 million • GAAP gross margin of 50.7%; non-GAAP gross margin of 52.4% • GAAP net loss of $4.4 million, or loss of $(0.17) per diluted share using 26.3 million shares • Adjusted EBITDA of $8.6 million • Non-GAAP net income of $8.7 million, or income of $0.30 per diluted share using 28.6 million shares
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