Impinj (PI) Tops Q1 EPS by 19c, Revenues Beat

Impinj (NASDAQ: PI) reported Q1 EPS of $0.13, $0.19 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $47.8 million versus the consensus estimate of $38.37 million.

First Quarter 2020 Financial Summary

• Revenue of $47.8 million
• GAAP gross margin of 44.7%; non-GAAP gross margin of 46.1%
• GAAP net loss of $4.3 million, or loss of $0.19 per diluted share using 22.4 million shares
• Adjusted EBITDA of $3.0 million
• Non-GAAP net income of $2.9 million, or income of $0.13 per diluted share using 23.0 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.”

For earnings history and earnings-related data on Impinj (PI) click here.

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