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Impinj Reports Third Quarter 2021 Financial Results
SEATTLE--(BUSINESS WIRE)-- Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for
About this update from Impinj, Inc.
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nImpinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the third quarter ended September 30, 2021.\n\n“Our third-quarter results were strong, with revenue and profitability exceeding our guidance,” said Chris Diorio, Impinj co-founder and CEO. “We accelerated Impinj M700 endpoint IC production, navigated unprecedented supply challenges and see strong, long-term demand from enterprise digital transformation.”\n\nThird Quarter 2021 Financial Summary\n\n\nRevenue of $45.2 million\n\n\nGAAP gross margin of 50.9%; non-GAAP gross margin of 53.3%\n\n\nGAAP net loss of $12.9 million, or loss of $(0.53) per diluted share using 24.3 million shares\n\n\nAdjusted EBITDA loss of $0.4 million\n\n\nNon-GAAP net loss of $0.9 million, or loss of $(0.04) per diluted share using 24.3 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\nFourth 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 fourth quarter 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\nDecember 31, 2021\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$46.0 to $48.0\n\n\n\n\n\nAdjusted EBITDA income (loss)\n\n\n\n \n\n\n\n($0.5) to $1.0\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\nGAAP Weighted-average shares — basic and diluted\n\n\n\n \n\n\n\n24.33 to 25.00\n\n\n\n\n\nGAAP Net loss per share — basic and diluted\n\n\n\n \n\n\n\n($0.57) to ($0.51)\n\n\n\n\n\nNon-GAAP net income (loss)\n\n\n\n \n\n\n\n($1.1) to $0.4\n\n\n\n\n\nNon-GAAP Weighted-average shares — basic\n\n\n\n \n\n\n\n24.33 to 25.00\n\n\n\n\n\nNon-GAAP Weighted-average shares — diluted\n\n\n\n \n\n\n\n24.33 to 26.50\n\n\n\n\n\nNon-GAAP Net income (loss) per share — basic\n\n\n\n \n\n\n\n($0.04) to $0.02\n\n\n\n\n\nNon-GAAP Net income (loss) per share — diluted\n\n\n\n \n\n\n\n($0.04) to $0.02\n\n\n\n\nA reconciliation...