Impinj (PI) Tops Q3 EPS by 3c, Revenues Beat; Offers 4Q EPS Outlook Above Consensus, 4Q Revenue Guidance Below Consensus

Impinj (NASDAQ: PI) reported Q3 EPS of ($0.29), $0.03 better than the analyst estimate of ($0.32). Revenue for the quarter came in at $28.2 million versus the consensus estimate of $24.72 million.

Third Quarter 2020 Financial Summary

• Revenue of $28.2 million
• GAAP gross margin of 47.4%; non-GAAP gross margin of 50.1%
• GAAP net loss of $14.3 million, or loss of $0.63 per diluted share using 22.9 million shares
• Adjusted EBITDA loss of $6.2 million
• Non-GAAP net loss of $6.7 million, or loss of $0.29 per diluted share using 22.9 million shares

“Third-quarter revenue improved sequentially, driven primarily by rebounding retail-apparel volumes that drove endpoint IC sales,” said Chris Diorio, Impinj co-founder and CEO. “With game-changing new products and a platform and vision that sit squarely in the center of our end users’ digital transformation, the opportunity in front of us is more compelling than ever.”

GUIDANCE:

Impinj sees Q4 2020 EPS of ($0.40)-($0.34), versus the consensus of ($0.68). Impinj sees Q4 2020 revenue of $26.5-28.5 million, versus the consensus of $29.29 million.

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

You May Also Be Interested In

• Primoris cuts 2026 outlook on renewables cost overruns, COO exits
• Comfort Systems USA names new COO and Chief Strategy Officer
• People Inc. names new chief accounting officer as predecessor retires