04.29.20
Impinj, Inc. released its financial results for the first quarter ended March 31, 2020.
The company reported first quarter 2020 revenue of $47.8 million, GAAP gross margin of 44.7%, non-GAAP gross margin of 46.1% and GAAP net loss of $4.3 million, or loss of $0.19 per diluted share using 22.4 million shares
“Our first-quarter revenue was strong, setting another company record,” said Chris Diorio, Impinj co-founder and CEO. “Despite the prevailing sentiment in many of our end markets being negative, there are bright spots as well, such as in omnichannel retail and supply chain and logistics. Regardless, considering the significant uncertainties looking forward, we feel it is prudent to not give quantitative guidance for the second quarter.”
Impinj is continuing to monitor the impact of the COVID-19 pandemic on its business, including how the pandemic will affect customers, end-users, suppliers and other business partners. However, given the uncertainty regarding the duration and severity of the epidemiological, economic and operational impacts of Covid-19, as of the date of this report Impinj cannot reasonably estimate the pandemic’s impact on its operating results for the second quarter of 2020 or future periods.
The company reported first quarter 2020 revenue of $47.8 million, GAAP gross margin of 44.7%, non-GAAP gross margin of 46.1% and GAAP net loss of $4.3 million, or loss of $0.19 per diluted share using 22.4 million shares
“Our first-quarter revenue was strong, setting another company record,” said Chris Diorio, Impinj co-founder and CEO. “Despite the prevailing sentiment in many of our end markets being negative, there are bright spots as well, such as in omnichannel retail and supply chain and logistics. Regardless, considering the significant uncertainties looking forward, we feel it is prudent to not give quantitative guidance for the second quarter.”
Impinj is continuing to monitor the impact of the COVID-19 pandemic on its business, including how the pandemic will affect customers, end-users, suppliers and other business partners. However, given the uncertainty regarding the duration and severity of the epidemiological, economic and operational impacts of Covid-19, as of the date of this report Impinj cannot reasonably estimate the pandemic’s impact on its operating results for the second quarter of 2020 or future periods.