Impinj(US:PI)2025-10-29 20:18Financial Performance - Impinj reported third-quarter 2025 revenue of $96.1 million, a slight increase from $95.2 million in the same quarter of 2024[16] - The company experienced a GAAP net loss of $12.8 million, or a loss of $0.44 per diluted share, compared to a net income of $0.22 million in Q3 2024[16] - Adjusted EBITDA for the third quarter was $19.1 million, reflecting strong operational performance[4] - For the fourth quarter of 2025, Impinj expects revenue between $90.0 million and $93.0 million, with a GAAP net loss projected between $2.6 million and $1.1 million[5] - The company anticipates a non-GAAP net income of $14.7 million to $16.2 million for Q4 2025, translating to a non-GAAP net income per diluted share of $0.48 to $0.52[5] - For the nine months ended September 30, 2025, the company reported a net loss of $9,708,000 compared to a net income of $43,528,000 for the same period in 2024[18] - The company expects a GAAP net loss of $1,868,000 for the three months ending December 31, 2025, with an adjusted EBITDA forecast of $16,160,000[26] - Non-GAAP net income for the three months ending December 31, 2025, is projected to be $15,444,000, translating to a non-GAAP net income per share of $0.50[26] Assets and Cash Flow - Total current assets increased to $351.8 million as of September 30, 2025, up from $326.4 million at the end of 2024[14] - Cash and cash equivalents rose to $51.7 million, compared to $46.1 million at the end of 2024[14] - Impinj's total assets reached $516.5 million, an increase from $489.1 million at the end of 2024[14] - The net cash provided by operating activities for the nine months ended September 30, 2025, was $43,610,000, a decrease of 62.3% from $115,687,000 in 2024[18] - Free cash flow for the nine months ended September 30, 2025, was $32,267,000, a decrease of 68.6% from $102,708,000 in 2024[24] - The cash and cash equivalents at the end of the period on September 30, 2025, were $51,726,000, compared to $73,704,000 at the end of the same period in 2024[18] Margins and Operational Performance - The company reported a gross margin of 50.3% for Q3 2025, with a non-GAAP gross margin of 53.0% expected for Q4 2025[4] - The company achieved a GAAP gross margin of 52.8% for the nine months ended September 30, 2025, compared to 52.0% in 2024[23] - Adjusted EBITDA for the nine months ended September 30, 2025, was $53,139,000, up from $50,833,000 in 2024, reflecting a year-over-year increase of 4.6%[23] Stock-Based Compensation and Expenses - The company reported stock-based compensation of $40,096,000 for the nine months ended September 30, 2025, slightly down from $41,336,000 in 2024[23] - The company incurred an induced conversion expense related to convertible notes amounting to $15,026,000 for the nine months ended September 30, 2025[23] Strategic Focus - Impinj continues to focus on its Gen2X solutions, which are contributing to revenue growth and market leadership[2]