Business
Impinj Reports Fourth Quarter 2019 Financial Results
SEATTLE, Wash.--(BUSINESS WIRE)-- Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, today released its financial results for
About this update from Impinj, Inc.
[{"type":"text","content":" SEATTLE, Wash.--(BUSINESS WIRE)--\nImpinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, today released its financial results for the fourth quarter and year ended December 31, 2019.\n\n\n“I am very pleased with Impinj's 2019 execution and results,” said Chris Diorio, Impinj co-founder and CEO. “We delivered three consecutive record revenue quarters and strengthened our balance sheet. We also introduced game-changing new products that solidified our platform and advanced our strategy. We enter 2020 with strong momentum and a solid foundation for our business.”\n\n\nFourth Quarter 2019 Financial Summary\n\n\n\nRevenue of $40.8 million\n\n\nGAAP gross margin of 48.8%; non-GAAP gross margin of 50.6%\n\n\nGAAP net loss of $7.7 million, or loss of $0.35 per diluted share using 22.2 million shares\n\n\nAdjusted EBITDA of $1.0 million\n\n\nNon-GAAP net income of $0.8 million, or income of $0.03 per diluted share using 22.8 million shares\n\n\n\nFull Year 2019 Financial Summary\n\n\n\nRevenue of $152.8 million\n\n\nGAAP gross margin of 48.4%; non-GAAP gross margin of 50.2%\n\n\nGAAP net loss of $23.0 million, or loss of $1.05 per diluted share using 21.8 million shares\n\n\nAdjusted EBITDA of $1.6 million\n\n\nNon-GAAP net income of $0.9 million, or income of $0.04 per diluted share using 22.6 million shares\n\n\n\nA 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.\n\n\nFirst Quarter 2020 Financial Outlook\n\n\nImpinj 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 first quarter of 2020 (in millions, except per share data):\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ending\n\n\n\n\n\n \n\n\n\n \n\n\n\nMarch 31, 2020\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$37.0 to $41.0\n\n\n\n\n\nGAAP Net loss\n\n\n\n \n\n\n\n($9.5) to ($8.5)\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n \n\n\n\n($2.3) to $0.7\n\n\n\n\n\nNon-GAAP net income (loss)\n\n\n\n \n\n\n\n($2.5) to $0.5\n\n\n\n\n\nGAAP Weighted-average shares — basic and diluted\n\n\n\n \n\n\n\n22.35 to 22.45\n\n\n\n\n\nGAAP ...