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Impinj Reports Fourth Quarter and Full Year 2020 Financial Results
SEATTLE--(BUSINESS WIRE)-- Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, today released its financial results for the
About this update from Impinj, Inc.
[{"type":"text","content":" SEATTLE--(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, 2020.\n\n“Our fourth-quarter results capped a strong close to a turbulent year,” said Chris Diorio, Impinj co-founder and CEO. “Despite the Covid-19 headwinds, Impinj exited 2020 having invested in our opportunity, introducing two new product families, achieving significant end-user success milestones and solidifying our structural advantage.”\n\nFourth Quarter 2020 Financial Summary\n\n\nRevenue of $36.4 million\n\n\nGAAP gross margin of 47.8%; non-GAAP gross margin of 50.4%\n\n\nGAAP net loss of $15.7 million, or loss of $0.68 per diluted share using 23.2 million shares\n\n\nAdjusted EBITDA loss of $3.1 million\n\n\nNon-GAAP net loss of $3.5 million, or loss of $0.15 per diluted share using 23.2 million shares\n\n\nFull Year 2020 Financial Summary\n\n\nRevenue of $138.9 million\n\n\nGAAP gross margin of 46.9%; non-GAAP gross margin of 49.0%\n\n\nGAAP net loss of $51.9 million, or loss of $2.28 per diluted share using 22.8 million shares\n\n\nAdjusted EBITDA loss of $11.5 million\n\n\nNon-GAAP net loss of $12.8 million, or loss of $0.56 per diluted share using 22.8 million shares\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\nFirst Quarter 2021 Financial Outlook\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 2021 (in millions, except per share data):\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, 2021\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$41.0 to $43.0\n\n\n\n\n\nGAAP Net loss\n\n\n\n \n\n\n\n($13.8) to ($12.8)\n\n\n\n\n\nAdjusted EBITDA loss\n\n\n\n \n\n\n\n($3.0) to ($1.5)\n\n\n\n\n\nNon-GAAP net loss\n\n\n\n \n\n\n\n($3.5) to ($2.0)\n\n\n\n\n\nGAAP Weighted-average shares — basic and diluted\n\n\n\n \n\n\n\n23.75 to 23.85\n\n\n\n\n\nGAAP Net loss per share — basic and diluted\n\n\n\n \n\n\n\n($0.5...