SEATTLE--(BUSINESS WIRE)--Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions for identifying, locating and authenticating everyday items, today released its financial results for the third quarter ended September 30, 2019.
“Quarterly revenue exceeded $40 million for the first time, driven by strong performance in both endpoint ICs and systems.”
“Our third-quarter results were strong, with revenue and adjusted EBITDA outperforming our guidance,” said Chris Diorio, Impinj co-founder and CEO. “Quarterly revenue exceeded $40 million for the first time, driven by strong performance in both endpoint ICs and systems.”
Third Quarter 2019 Financial Summary
- Revenue of $40.8 million
- GAAP gross margin of 48.5%; non-GAAP gross margin of 50.2%
- GAAP net loss of $4.1 million, or loss of $0.19 per diluted share using 22.0 million shares
- Adjusted EBITDA of $2.1 million
- Non-GAAP net income of $1.9 million, or income of $0.09 per diluted share using 22.9 million shares
A reconciliation between GAAP and non-GAAP information is contained in the tables below. Additionally, descriptions of these non-GAAP financial measures are provided in the “Non-GAAP Financial Measures” sections below.
Fourth Quarter 2019 Financial Outlook
Impinj provides guidance based on current market conditions and expectations; actual results may differ materially. Please refer to the comments below regarding forward-looking statements. The following table presents Impinj’s financial outlook for the fourth quarter of 2019 (in millions, except per share data): ----- click here to see the full news release.
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