IMPINJ Inc ( (PI) ) has released its Q4 earnings. Here is a breakdown of the information IMPINJ Inc presented to its investors.
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Impinj, Inc. is a leading provider of RAIN RFID technology and Internet of Things solutions, enabling the wireless connection of everyday items to the internet. Recently, Impinj released its financial results for the fourth quarter and full year of 2024, highlighting a strong financial performance across various metrics.
In the fourth quarter of 2024, Impinj reported a revenue of $91.6 million with a GAAP gross margin of 50.5% and a non-GAAP gross margin of 53.1%. Despite a GAAP net loss of $2.7 million, the company achieved a non-GAAP net income of $14.5 million. For the full year, revenue reached $366.1 million with a GAAP net income of $40.8 million, reflecting a significant turnaround from the previous year’s loss.
The company’s strategic achievements in 2024 included resolving patent litigation and launching market-leading products and innovations. These efforts contributed to a non-GAAP net income of $62.9 million for the year, alongside an impressive adjusted EBITDA of $65.9 million. Impinj’s balance sheet showed a substantial increase in stockholders’ equity, signaling strong financial health.
Looking forward, Impinj anticipates facing headwinds in the first quarter of 2025, with projected revenue between $70.0 million and $73.0 million. Despite an expected GAAP net loss, the company remains committed to leveraging its competitive advantages to strengthen its market position in the coming periods.
