SEATTLE, January 15, 2018 – Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, today announced it shipped its 25 billionth Monza endpoint IC, including 7.1 billion in 2017 alone. Impinj has shipped more endpoint ICs than all other RAIN RFID suppliers combined.
Impinj’s vision is to deliver digital life to everyday items such as retail apparel, medical supplies, luggage, automobile parts and more, extending the reach of the Internet by a factor of 1,000. Impinj connects these everyday items using RAIN RFID, a battery-free radio technology ideally suited to identifying, locating and authenticating everyday items. Impinj’s Monza endpoint ICs attach-to and uniquely identify their host items, connecting those items to business and consumer applications – enabling businesses to analyze and use data about those items to improve efficiencies, increase sales and delight customers.
“We have reached a milestone in the worldwide adoption of Impinj endpoint ICs, based significantly on retail deployments,” said Chris Diorio, CEO at Impinj. “What we find exciting is how businesses are looking for transformative business value from RAIN, including deploying fixed readers to provide real-time visibility about their items. These companies are integrating real-time RAIN data into their existing software systems and business processes to gain both agility in decision-making and efficiencies from automated processes.”
“To be competitive in today’s environment, retailers must have near real-time visibility into their inventory – and their inventory data must be accurate,” said Brian Kilcourse, managing partner at RSR Research. “Consumers expect to accurately ‘see’ available inventory to make the best purchase decisions. RAIN RFID achieves that accuracy and visibility into inventory across the retail enterprise.”
Impinj’s achievement reflects wide adoption across diverse markets including retail, healthcare, logistics, airline and manufacturing and is being announced in connection with NRF 2018: Retail’s Big Show in New York City, NY.
Impinj (NASDAQ: PI) wirelessly connects billions of everyday items such as apparel, medical supplies, and automobile parts to consumer and business applications such as inventory management, patient safety, and asset tracking. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things.
Impinj and Monza are registered trademarks of Impinj, Inc. All other trademarks are the property of their owners.
Impinj is currently preparing its financial statements for the quarter and year ended December 31, 2017; consequently, its financial results are not available as of the date of this release. Other than 2017 endpoint IC shipment volumes, Impinj is not updating or affirming its guidance and nothing in this release should be construed as such. Impinj intends to disclose and discuss its fourth quarter and full year results at its regularly scheduled earnings call.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding the market for RAIN RFID, our strategy, prospects and our outlook regarding endpoint IC volumes. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law.
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