09.02.16
Impinj, Inc. announced its second quarter 2016 financial results for the period ended June 30, 2016.
Impinj reported that revenue grew 36% year-over-year to $26.0 million. GAAP gross margin was 52.3%; non-GAAP gross margin came in at 53.4%. The company reported a GAAP net loss of $0.3 million, adjusted EBITDA of $1.3 million and non-GAAP net income of $0.9 million, or $0.06 per share using 13.9 million shares.
“We delivered strong second quarter results. Revenue grew 36% year-over-year to a record driven by continued demand for our Monza endpoint ICs, which we believe is an indication of accelerating market growth and our strong market position,” said Chris Diorio, co-founder and CEO. “We see a massive and growing market opportunity for our offerings and, with the successful completion of our IPO, we have expanded our available capital and will continue to execute our strategy to further capitalize on this exciting growth opportunity.”
For the third quarter of 2016, the company currently expects revenue in the range of $27.4 million to $28.9 million, adjusted EBITDA in the range of $0.3 million to $1.8 million, non-GAAP net income in the range of $0.2 million to $1.7 million, and non-GAAP earnings per share in the range of $0.01 and $0.09, using approximately 18.6 million shares.
Impinj reported that revenue grew 36% year-over-year to $26.0 million. GAAP gross margin was 52.3%; non-GAAP gross margin came in at 53.4%. The company reported a GAAP net loss of $0.3 million, adjusted EBITDA of $1.3 million and non-GAAP net income of $0.9 million, or $0.06 per share using 13.9 million shares.
“We delivered strong second quarter results. Revenue grew 36% year-over-year to a record driven by continued demand for our Monza endpoint ICs, which we believe is an indication of accelerating market growth and our strong market position,” said Chris Diorio, co-founder and CEO. “We see a massive and growing market opportunity for our offerings and, with the successful completion of our IPO, we have expanded our available capital and will continue to execute our strategy to further capitalize on this exciting growth opportunity.”
For the third quarter of 2016, the company currently expects revenue in the range of $27.4 million to $28.9 million, adjusted EBITDA in the range of $0.3 million to $1.8 million, non-GAAP net income in the range of $0.2 million to $1.7 million, and non-GAAP earnings per share in the range of $0.01 and $0.09, using approximately 18.6 million shares.