Impinj Reports 3Q 2023 Financial Results

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.”