Impinj Q2 2023 revenue $86M (record); GAAP EPS -$0.30, non-GAAP EPS $0.33; expects Q3 headwinds

IMPINJ INC

2023-Q2 EPS reported -$0.47 revenue$171,883,000

Revenue of $86.0M, a record; GAAP net loss of $8.1M (-$0.30/diluted share); non-GAAP net income of $9.3M ($0.33/diluted share).
Non-GAAP gross margin 53.3%; adjusted EBITDA $10.0M; systems revenue strong but endpoint IC weak from retail apparel destocking.
CEO Chris Diorio expects ongoing headwinds from apparel destocking and retail macro weakness to more than offset enterprise strength in Q3.
No formal guidance provided; qualitative outlook points to sequential revenue decline.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IMPINJ INC reported the second quarter ended June 30, 2023 results: revenue $86.0 million, net income $8.1 million, EPS $(0.30) per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $86.0 million
Net income: $8.1 million
EPS: $(0.30) per diluted share
Result: reported results

Exact text from the filing

overall retail macroenvironment, to more-than-offset strength in our enterprise solutions opportunities in the third quarter.” Second Quarter 2023 Financial Summary • Revenue of $86.0 million • GAAP gross margin of 51.0%; non-GAAP gross margin of 53.3% • GAAP net loss of $8.1 million, or loss of $(0.30) per diluted share using 26.7 million shares • Adjusted EBITDA of

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Source: SEC EDGAR

accession 0000950170-23-034736

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