Financial Performance & Growth - Impinj's annual revenue has grown from $138.9 million in 2020 to $366.1 million in 2024, representing a 27% CAGR[16] - In Q1 2025, systems revenue was $13.1 million and endpoint ICs revenue was $61.2 million[90] - The non-GAAP gross margin for Q1 2025 was 52.7%[94] - The adjusted EBITDA for Q1 2025 was $6.5 million[101] - Non-GAAP EPS (diluted) for Q1 2025 was $0.21[105] Market Opportunity & Strategy - Impinj estimates that RAIN-enabled connectivity was used for over 52 billion items in 2024, representing approximately 0.5% of connectable items[46] - The company has sold over 120 billion endpoint ICs[17, 52] - The company's strategy involves developing whole-platform solutions, winning endpoint IC opportunities, engaging partners, and competing aggressively for the rest of the endpoint IC market[18] Financial Resources - As of March 31, 2025, Impinj had $232.5 million in cash and investments[111] - As of December 31, 2024, Impinj had $190.3 million in federal NOLs[111] - The trailing twelve-month (TTM) adjusted free cash flow was $44.3 million[111]