Group 1 - The core thesis for Impinj Inc. (NASDAQ: PI) is that the company is expected to experience growth acceleration as it enters a new growth cycle [1] - The investment approach emphasizes a blend of value investing principles and a focus on long-term growth, aiming to buy quality companies at a discount to their intrinsic value [1] - The strategy involves holding investments for the long term to allow for compounding of earnings and shareholder returns [1]

Financial Data and Key Metrics Changes - Third quarter revenue was $95.2 million, down 7% sequentially from $102.5 million in Q2 2024, and up 46% year-over-year from $65 million in Q3 2023 [9] - Third quarter adjusted EBITDA was $17.3 million, compared to $26.8 million in Q2 2024 and $300,000 in Q3 2023, with an adjusted EBITDA margin of 18.2% [12] - Third quarter GAAP net income was $200,000, while non-GAAP net income was $16.9 million or $0.56 per share on a fully diluted basis [12] Business Line Data and Key Metrics Changes - Third quarter endpoint IC revenue was $81 million, down 9% sequentially from $89.4 million in Q2 2024, and up 67% year-over-year from $48.6 million in Q3 2023 [9] - Third quarter Systems revenue was $14.2 million, up 9% sequentially from $13.1 million in Q2 2024, but down 13% year-over-year from $16.4 million in Q3 2023 [10] Market Data and Key Metrics Changes - Endpoint IC product revenue exceeded expectations, with unit volumes setting a new quarterly record as parcel shippers and retailers prepared for the holiday season [5] - The company expects endpoint IC revenue to decline modestly in Q4 due to typical seasonal trends, partially offset by market strength [6] Company Strategy and Development Direction - The company is focused on investing in enterprise solutions, including software and cloud services, which are seen as key to long-term success [7] - The company remains optimistic about the food tagging market, viewing it as a significantly larger opportunity than current markets [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued secular endpoint IC growth and category expansion, with a strong pipeline of enterprise accounts [9] - The management highlighted the importance of authentication and security in the market, indicating a need for increased efforts in these areas [64] Other Important Information - The company ended Q3 with cash, cash equivalents, and investments of $227.4 million, up from $220.2 million in Q2 2024 [12] - Third quarter gross margin was 52.4%, compared to 58.2% in Q2 2024, with expectations for sequential improvement in Q4 [10][11] Q&A Session Summary Question: Systems business outlook for Q4 - Management expects fourth quarter Systems revenue to increase sequentially due to seasonal strength and ongoing deployments from a visionary European retailer [16][17] Question: Food tagging opportunity - Management highlighted strong positioning in the food market, with significant opportunities in quick-serve restaurants and grocery stores [18][19] Question: Drivers of September quarter results - Management noted broad-based industry adoption across supply-chain, logistics, retail, and apparel sectors as key drivers of strong results [22][23] Question: Qualcomm partnership implications - Management discussed the positive impact of Qualcomm's public statement on RAIN technology, enhancing its position as a data carrier for digital product passports [28][29] Question: M800 certification update - Two major inlay partners have received certification for the M800, with expectations for more certifications soon, indicating a healthy ramp for the product [43][44] Question: Authentication opportunity in Asia - Management indicated that the authentication opportunity is critical for future growth, with ongoing replenishments expected in Q4 [63][64]

Impinj (PI) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.15%. A quarter ago, it was expected that this provider of radio frequency identification products would post earnings of $0.73 per share when it actually produced earnings of $0.83, delivering a surprise of 13.70%.Over t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-37824 IMPINJ, INC. (Exact name of registrant as specified in its charter) Delaware 91-2041398 (State or other jurisdiction of incorporati ...

Exhibit 99.1 Impinj Reports Third Quarter 2024 Financial Results SEATTLE, WA, October 23, 2024– Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the third quarter ended September 30, 2024. "Our third-quarter results were strong, with revenue and profitability well above our guidance," said Chris Diorio, Impinj co-founder and CEO. "These results again demonstrate the leverage in our operating model. As we continue driving our bol ...

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 ...