Impinj Reports Fourth Quarter and Full Year 2024 Financial Results
SEATTLE-- Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, has announced its financial results for the fourth quarter and the year that ended December 31, 2024.
CEO Chris Diorio stated, “In 2024, we delivered strong financial results, successfully resolved our patent litigation and delivered market-leading products and innovations. Looking forward, we see first-quarter headwinds but intend to press our competitive advantages and emerge a stronger company.”
Fourth Quarter 2024 Financial Highlights
During the fourth quarter, Impinj reported:
- Revenue of $91.6 million
- GAAP gross margin of 50.5%; non-GAAP gross margin of 53.1%
- GAAP net loss of $2.7 million, or loss of $0.09 per diluted share
- Adjusted EBITDA of $15.0 million
- Non-GAAP net income of $14.5 million, or income of $0.48 per diluted share
Full Year 2024 Financial Summary
For the full year, the financial performance reflected significant growth:
- Revenue of $366.1 million
- GAAP gross margin of 51.6%; non-GAAP gross margin of 54.0%
- GAAP net income of $40.8 million, or income of $1.39 per diluted share
- Adjusted EBITDA of $65.9 million
- Non-GAAP net income of $62.9 million, or income of $2.11 per diluted share
Looking Ahead: First Quarter 2025 Financial Outlook
Impinj's expectations for the first quarter reflect a cautious but optimistic approach:
- Expected revenue of $70.0 to $73.0 million
- GAAP net loss of ($16.8) to ($15.3) million
- Adjusted EBITDA income projected to be between $1.1 to $2.6 million
- Forecasted non-GAAP net income of $1.7 to $3.2 million
- GAAP net loss per share anticipated to be ($0.59) to ($0.53)
Management Call and Discussion
Impinj will host a conference call and webcast to discuss its fourth-quarter and full-year financial results, alongside its outlook, on a future date to be confirmed. Interested participants can access the call via the company’s website, where a replay will also be available.
About Impinj
Impinj (NASDAQ: PI) supports businesses and individuals in analyzing, optimizing, and innovating by wirelessly connecting billions of everyday items—such as apparel, automotive parts, luggage, and shipments—to the Internet. Utilizing RAIN RFID technology, the Impinj platform offers timely data about these items, facilitating a boundless Internet of Things.
Frequently Asked Questions
What financial results did Impinj report for 2024?
Impinj reported a revenue of $366.1 million with a net income of $40.8 million for the full year of 2024.
What was Impinj's revenue for the fourth quarter of 2024?
The company achieved a revenue of $91.6 million during the fourth quarter of 2024.
What is the expected revenue for Impinj in the first quarter of 2025?
Impinj expects its revenue for the first quarter of 2025 to be between $70.0 million and $73.0 million.
What losses is Impinj anticipating for the first quarter of 2025?
The anticipated GAAP net loss for the first quarter of 2025 is between ($16.8) million and ($15.3) million.
Where can I find more information about Impinj's financial performance?
Information is available on Impinj’s official website, where detailed financial reports and updates are published regularly.
