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]

The Russell 2000 Index comprises primarily small-cap stocks, with some mid-cap stocks included prior to its annual reconstitution on June 28. The Russell 2000 is a great index for finding smaller companies that could become strong portfolio additions for investors. It is also a metric used by many investors to gauge the overall performance of the small-cap market. Below, I discuss three stocks included in the Russell 2000 Index that have performed remarkably well over this past year, particularly in terms o ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Impinj (PI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question. Over the past 90 days, the Zacks Consensus Estimate for PI's ...

4 Our vision is boundless IoT, extending the Internet of Things to trillions of everyday items Success Strategy 1 Develop whole-platform solutions for lighthouse enterprises 2 Win the endpoint IC opportunity at those enterprises 3 Engage partners to repeat our successes at other accounts Compete aggressively for the rest of the endpoint IC market Investor Presentation First Quarter 2024 75.0 95.0 115.0 135.0 155.0 175.0 195.0 215.0 235.0 255.0 275.0 295.0 315.0 Forward Looking Statement & Non-GAAP Financial ...

Financial Data and Key Metrics Changes - First quarter revenue was $76.8 million, up 9% sequentially from $70.7 million in Q4 2023, but down 11% year-over-year from $86.0 million in Q1 2023 [130] - First quarter net cash provided by operating activities was $60.1 million, with free cash flow at $8.9 million excluding a $45 million litigation settlement [10] - First quarter GAAP net income was $33.3 million, while non-GAAP net income was $6.2 million or $0.21 per share on a fully diluted basis [27] Business Line Data and Key Metrics Changes - First quarter endpoint IC revenue was $61.5 million, up 14% sequentially from $53.9 million in Q4 2023, but down 8% year-over-year from $67 million in Q1 2023 [39] - First quarter systems revenue was $15.3 million, down 9% sequentially from $16.8 million in Q4 2023 and down 19% year-over-year from $18.8 million in Q1 2023 [26] - First quarter adjusted EBITDA was $6.7 million, compared to $3 million in Q4 2023 and $8.6 million in Q1 2023, with an adjusted EBITDA margin of 8.7% [27] Market Data and Key Metrics Changes - The large North American retailer's RAIN tag usage has accelerated, driven by additional products being tagged and new product ordering, with expectations for steady growth in general merchandise tagging [23] - The food opportunity is growing faster than expected, with several quick-service food chains discussing the use of RAIN for inventory and freshness [62] Company Strategy and Development Direction - The company aims to drive recurring licensing and services revenue, monetizing its IP, platform, and cloud services, while focusing on connecting every item in everyday life [38] - The settlement with NXP is expected to enhance cash reserves and competitiveness, while also removing litigation uncertainty from the industry [2] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued strength in the second quarter, driven by enterprise solutions and the ramp-up of the M800 product line [38] - The company anticipates a slight sequential decrease in operating expenses as litigation costs decline, with expectations for increased gross margins in the second quarter [27][64] Other Important Information - The company ended the first quarter with cash, cash equivalents, and investments totaling $174.1 million, compared to $113.2 million in Q4 2023 [65] - The company expects second quarter revenue between $96 million and $99 million, reflecting a 27% quarter-over-quarter increase at the mid-point [66] Q&A Session Summary Question: What is the significance of the second logistics customer moving into Phase 2 implementation? - Management indicated that this phase involves deploying RFID readers in vehicles, which is expected to positively impact the reader IC business [49] Question: How is the retail apparel market performing? - Management noted that the retail apparel market is showing signs of recovery, with new design wins and increased unit volumes [103] Question: What are the implications of the Digital Product Passport (DPP)? - Management highlighted that DPP is a significant opportunity for consumer engagement, with potential applications across various product categories [81][87] Question: What is the expected operating expense level going forward? - Management stated that operating expenses are expected to normalize following the reorganization, with modest growth anticipated in the second half of the year [90] Question: Are there opportunities for mergers and acquisitions (M&A)? - Management expressed openness to M&A opportunities that align with the company's platform and growth strategy, but no specific targets were mentioned [111]

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 March 31, 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 incorporation o ...

Exhibit 99.1 Impinj Reports First Quarter 2024 Financial Results SEATTLE, WA, April 24, 2024– Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the first quarter ended March 31, 2024. "2024 started strong, with revenue and profitability exceeding both our fourth-quarter results and first-quarter guidance," said Chris Diorio, Impinj co-founder and CEO. "As we continue driving our bold vision to connect every item in our everyday w ...