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Company reports record revenue and solid profitability during the quarter.
May 3, 2022
By: DAVID SAVASTANO
Impinj, Inc. released its financial results for the first quarter ended March 31, 2022. “Our first-quarter results were strong, with demand for our endpoint ICs, reader ICs, readers and gateways all showing extraordinary strength,” said Chris Diorio, Impinj co-founder and CEO. “We delivered record revenue and solid profitability while investing in our team, company and platform.” Impinj reported revenue of $53.1 million, GAAP gross margin of 54.2% and non-GAAP gross margin of 57.0%. The company reported a GAAP net loss of $10.5 million, or loss of $(0.42) per diluted share using 25 million shares. Adjusted EBITDA was $3.5 million.
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