NASDAQ$PI

Impinj Inc. · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Impinj's second-quarter results were strong, with revenue and profitability exceeding guidance.

Impinj reported strong second-quarter results with revenue of $59.8 million. The company's profitability exceeded guidance, and demand is expected to remain strong through the second half of 2022.

  • Revenue of $59.8 million.
  • GAAP gross margin of 52.7%; non-GAAP gross margin of 54.7%.
  • GAAP net loss of $11.5 million, or loss of $(0.45) per diluted share.
  • Non-GAAP net income of $3.0 Million, or income of $0.11 per diluted share.

Headline financials

Total Revenue

$59.8M

Previous: $47.3M+26.5%
EPS (adj)

$0.11

Previous: $0.11+0.0%
Capital Expenditures

-$3.72M

Previous: -$7.86M+52.6%
Free Cash Flow

-$15.2M

Previous: -$16.8M+9.0%
Net Income

-$11.5M

Previous: -$8.91M-29.4%
Operating Income

-$8.48M

Previous: -$8.32M-1.9%
Gross Profit

$31.5M

Previous: $24.8M+27.1%
Cash & Equivalents

$32.6M

Previous: $51.2M-36.3%
Total Assets

$304M

Previous: $211M+44.0%
Stock-Based Comp

$10.9M

Previous: $10.6M+2.6%

Revenue & EPS history

Impinj · Revenue · Quarterly

$59.8M

Q2 2022+26.5%vs Q2 2021
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

Impinj anticipates revenue between $63.5 million and $65.5 million for the third quarter of 2022.

Tailwinds

  • Revenue between $63.5 million and $65.5 million
  • Adjusted EBITDA income between $5.1 million and $6.6 million
  • Non-GAAP Net income between $4.0 million and $5.5 million
  • Non-GAAP Net income per share — basic between $0.16 and $0.21
  • Non-GAAP Net income per share — diluted between $0.15 and $0.20

Headwinds

  • GAAP Net loss between ($7.5) million and ($6.0) million
  • GAAP Net loss per share — basic and diluted between ($0.29 ) and ($0.23 )
  • Actual results may differ materially
  • Guidance based on current market conditions and expectations
  • Forward-looking statements are subject to known and unknown risks and uncertainties

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+1.1%

Avg return

Earnings day

+2.4%

Avg return

5 days after

+6.5%

Avg return

30 days after

53%

21 / 40 earnings

Positive

+36.6%

Q1 2019

Best reaction

-39.4%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.0%+24.9%+25.6%
Q4 2025-24.6%-30.5%-38.7%
Q3 2025-14.7%-27.4%-29.0%
Q1 2025+16.5%+16.4%+45.3%
Q4 2024-15.2%-16.3%-20.9%
Q3 2024-14.0%-8.0%-14.5%
Q2 2024-1.4%+1.2%+1.3%
Q1 2024+25.8%+27.3%+34.5%
Q4 2023+2.7%-3.8%+8.3%
Q3 2023+16.0%+13.8%+55.5%
Q2 2023-13.7%-17.0%-23.9%
Q1 2023-39.4%-36.7%-26.0%
Q4 2022-2.7%-1.1%-1.5%
Q3 2022+30.9%+30.2%+38.5%
Q2 2022+21.6%+26.9%+36.0%
Q1 2022-0.8%+2.3%-4.7%
Q4 2021-15.4%-18.5%-30.1%
Q3 2021+23.9%+26.9%+29.5%
Q2 2021+7.6%+11.6%+44.6%
Q1 2021-17.6%-9.6%-8.4%
Q4 2020+9.1%+8.3%-6.7%
Q3 2020-5.9%-9.8%+20.9%
Q2 2020-18.3%-15.6%-14.0%
Q1 2020+12.2%+5.1%+37.8%
Q4 2019-17.6%-25.1%-51.6%
Q3 2019+2.3%-0.3%-10.5%
Q2 2019+10.5%+0.5%+0.9%
Q1 2019+36.6%+38.4%+14.8%
Q4 2018+2.1%+2.0%-1.3%
Q3 2018+3.3%+24.2%+17.4%
Q2 2018+34.7%+33.8%+7.6%
Q1 2018+33.7%+31.3%+57.6%
Q4 2017-14.3%-6.6%+5.3%
Q3 2017-36.9%-29.7%-28.1%
Q2 2017-23.5%-23.7%-20.5%
Q1 2017+12.6%+6.5%+25.4%
Q4 2016-14.6%-21.0%-21.3%
Q3 2015+1.1%+11.8%+33.8%
Q3 2016+9.7%+10.8%+6.5%
Q2 2016+21.2%+43.6%+64.5%
Q1 2016
Q4 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q1 2011
Q1 2010

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