IMPINJ INC (PI): restructuring charge — Impinj Q4 revenue $70.7M, GAAP loss $0.56 EPS; cuts 10% staff

IMPINJ INC

Q4 revenue $70.7M; full year $307.5M (first above $300M).
GAAP net loss $15.2M ($0.56 loss per diluted share); non-GAAP EPS $0.09.
Adjusted EBITDA $3.0M in Q4; full year $21.8M.
Restructuring cuts ~10% of employees; expects $1.7M–$2.0M severance charges in Q1/Q2 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IMPINJ INC reported the fourth quarter and year ended December 31, 2023 results: revenue $70.7 million, net income GAAP net loss of $15.2 million, EPS loss of $0.56 per diluted share.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $70.7 million
Net income: GAAP net loss of $15.2 million
EPS: loss of $0.56 per diluted share
Result: reported results

Exact text from the filing

every item in our everyday world, we remain confident in our market position and energized by the opportunities ahead.” Fourth Quarter 2023 Financial Summary • Revenue of $70.7 million • GAAP gross margin of 47.9%; non-GAAP gross margin of 50.9% • GAAP net loss of $15.2 million, or loss of $0.56 per diluted share using 27.1 million shares • Adjusted EBITDA of

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

IMPINJ INC announced a restructuring with charges of in the range of $1.7 million to $2.0 million (approximately 10% of the Company’s employees).

Type: restructuring
Charge: in the range of $1.7 million to $2.0 million
Headcount: approximately 10% of the Company’s employees

Exact text from the filing

financial, business and R&D objectives for long-term growth. The Company expects the reduction-in-force charges, comprising primarily severance benefits, to be in the range of $1.7 million to $2.0 million. The Company expects most of these charges to be recognized in the Company’s first and second fiscal quarters of 2024. This Item 2.05 contains forward-looking

View on SEC.gov

41 earnings releases filed in the last 30 days. Browse all earnings releases →

IMPINJ INC filing history →

Source: SEC EDGAR

accession 0000950170-24-012779

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.