Shares of Impinj (PI) have been strong performers lately, with the stock up 14.5% over the past month. The stock hit a new 52-week high of $190.22 in the previous session. Impinj has gained 107.3% since the start of the year compared to the 20.3% move for the Zacks Computer and Technology sector and the 24.2% return for the Zacks Electronics - Semiconductors industry. What's Driving the Outperformance? The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consen ...

Core Viewpoint - Impinj is being added to the S&P SmallCap 600 index, which is expected to increase demand for its stock due to ETF purchases [1][2][3] Group 1: Company Performance - Impinj has experienced significant growth, with a 19% increase in revenue to $102.5 million in the second quarter and a rise in gross margin from 51% to 56.1% [3] - The company anticipates third-quarter revenue growth of 42%, projecting a range of $91 million to $94 million, along with adjusted earnings per share of $0.46 to $0.50, compared to breakeven in the same quarter last year [4] Group 2: Market Impact - The addition to the S&P 600 is likely to trigger buying from ETFs that track the index, such as the Vanguard S&P Small-Cap 600 ETF and iShares Core S&P Small-Cap ETF, thereby increasing stock demand [2][3] - Historically, stocks like Impinj tend to gain upon being added to the S&P index due to the endorsement from the index manager and subsequent ETF buying [3] Group 3: Stock Performance - Impinj's stock has appreciated nearly 400% over the last five years, driven by soaring revenue and profits, establishing the company as a leader in RFID technology for supply chain management [4][5] - Although the stock is considered pricey, continued growth could lead to further price increases in the long term [5]

Impinj (PI) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Individual investors oft ...

In its broadest sense, the Internet of Things (IoT) means anything that can be connected to the internet. Think your bread toaster, wearable items, your fridge and even your dog collar all connected to the internet. The idea behind IoT is that the internet is seamlessly integrated into the physical world. This makes it possible to gather information, analyze it and make better decisions. But IoT isn't just for the household setup. Industries have adopted IoT technologies for all manners of applications, inc ...

As a result, the stock was up 3.6% as of 3:09 p.m. ET. Gross margin also soared in the quarter, jumping from 51% to 56.1%, showing the company is gaining leverage as it scales up. Operating expenses also fell in the quarter as general and administrative expenses fell substantially, and sales and marketing expenses were down slightly. Shares of Impinj (PI 4.41%) were climbing today after the RFID tag specialist posted better-than-expected results in its second-quarter earnings report. Impinj, whose stock has ...

audriusmerfeldas/iStock via Getty Images Investment Thesis Impinj (NASDAQ:PI) has become a favorite stock amongst investors. And indeed, its Q2 2024 results have been met with a positive nod, as its shares increased by 6% premarket. Nonetheless, I struggle to make its valuation make sense. Case in point, even if we consider the fact that its balance sheet now operates debt-free, I simply don't see the appeal of paying 54x next year's EBITDA. Hence, I remain firmly on the sidelines, and go as far as to conte ...

This quarterly report represents an earnings surprise of 13.70%. A quarter ago, it was expected that this provider of radio frequency identification products would post earnings of $0.10 per share when it actually produced earnings of $0.21, delivering a surprise of 110%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. What's Next for Impinj? Impinj (PI) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.73 per share. Th ...

Investor Presentation Second Quarter 2024 Forward Looking Statement & Non-GAAP Financial Measures | --- | --- | --- ...

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Delaware 91-2041398 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act: Large accelerated filer ☑ Accelerated filer ☐ If an emerging growth co ...

Financial Performance - Revenue for Q2 2024 reached $102.5 million, a 19% increase from $85.99 million in Q2 2023[17] - Adjusted EBITDA for Q2 2024 was $25 million, significantly exceeding guidance[2] - Free cash flow for Q2 2024 exceeded $40 million, indicating strong cash generation[2] - The company reported a net income of $9.96 million for Q2 2024, compared to a net loss of $8.07 million in Q2 2023[17] - Operating expenses decreased to $48.5 million in Q2 2024 from $52.2 million in Q2 2023, reflecting improved cost management[17] - GAAP net income for the three months ended June 30, 2024, was $9,963, compared to a loss of $8,066 in the same period of 2023; non-GAAP net income was $25,313, up from $9,296[26] - Adjusted EBITDA for the three months ended June 30, 2024, was $26,829, significantly higher than $9,958 in the same period of 2023[26] - Free cash flow for the three months ended June 30, 2024, was $44,113, compared to a negative cash flow of $(28,160) in the same period of 2023[27] - The company reported a GAAP net cash provided by operating activities of $45,479 for the three months ended June 30, 2024, compared to $(22,544) in the same period of 2023[27] - Adjusted free cash flow for the six months ended June 30, 2024, was $53,051, compared to $(62,302) in the same period of 2023[27] Future Projections - The company expects Q3 2024 revenue to be between $91.0 million and $94.0 million, with a GAAP net loss projected between ($3.5) million and ($2.0) million[5] - Non-GAAP net income for Q3 2024 is anticipated to be between $13.5 million and $15.0 million, translating to a diluted net income per share of $0.46 to $0.50[5] - For the forecasted three months ending September 30, 2024, adjusted EBITDA is expected to be $14,500, with a GAAP net loss of $(2,714)[29] - Non-GAAP net income for the forecasted three months ending September 30, 2024, is projected to be $14,224, translating to a non-GAAP net income per share of $0.48[29] Asset Management - Total current assets increased to $358.3 million as of June 30, 2024, up from $269.7 million at the end of 2023[15] - Cash and cash equivalents rose to $214.7 million, compared to $94.8 million at the end of 2023[15] Market Strategy - The company is focused on expanding its market presence and enhancing its RAIN RFID technology offerings[2] Margin Analysis - For the three months ended June 30, 2024, GAAP gross margin was 56.1%, up from 51.0% in the same period of 2023, while non-GAAP gross margin increased to 58.2% from 53.3%[26] Adjustments and Revisions - The company revised its definition of adjusted EBITDA and non-GAAP net income to exclude acquisition-related expenses and settlement income, which did not impact previously reported periods[21][23] Share Information - The company’s weighted-average shares diluted for the three months ended June 30, 2024, were 29,422, compared to 26,713 in the same period of 2023[26]