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Impinj(PI) - 2025 Q1 - Quarterly Results
ImpinjImpinj(US:PI)2025-04-23 20:18

Financial Performance - First Quarter 2025 revenue was $74.3 million, a decrease from $76.8 million in the same period last year[16] - GAAP net loss for the first quarter was $8.5 million, or a loss of $0.30 per diluted share[4] - Non-GAAP net income for the first quarter was $6.3 million, or income of $0.21 per diluted share[4] - GAAP net loss for Q1 2025 was $8,451,000, a significant decrease from a net income of $33,344,000 in Q1 2024[23] - Adjusted EBITDA for Q1 2025 was $6,474,000, slightly down from $6,685,000 in Q1 2024[23] - Free cash flow for Q1 2025 was $(13,006,000), a decline from $53,938,000 in Q1 2024[24] Revenue Guidance - Second Quarter 2025 revenue guidance is projected between $91.0 million and $96.0 million[5] - Non-GAAP net income for Q2 2025 is projected to be $22,059,000, with a diluted non-GAAP net income per share of $0.72[26] - GAAP net income for Q2 2025 is expected to be $6,812,000, with a diluted GAAP net income per share of $0.23[26] EBITDA and Cash Flow - Adjusted EBITDA for the first quarter was $6.5 million, with a forecast of $23.5 million to $26.0 million for the second quarter[4][5] - Forecasted adjusted EBITDA for Q2 2025 is $24,700,000[26] - GAAP net cash used in operating activities for Q1 2025 was $(11,143,000), compared to $60,140,000 in Q1 2024[24] Assets and Liabilities - Cash and cash equivalents increased to $61.3 million from $46.1 million at the end of the previous quarter[18] - Total assets decreased to $479.8 million from $489.1 million at the end of 2024[14] - Total liabilities decreased to $319.3 million from $339.2 million at the end of 2024[14] Gross Margin - GAAP gross margin for Q1 2025 was 49.4%, an increase from 48.9% in Q1 2024[23] - Non-GAAP gross margin for Q1 2025 was 52.7%, compared to 51.5% in Q1 2024[23] Strategic Focus - The company is focused on extending its technology lead and market share in the RAIN RFID sector[2] - The company reported a significant increase in stock-based compensation, forecasted at $15,000,000 for Q2 2025[26]