IMPINJ Inc (PI) has released an update to notify the public and investors about termination and asset disposition expenses.
Impinj has announced a strategic restructuring initiative, including laying off around 10% of its workforce, to steer the company towards sustainable long-term growth. The associated costs, mainly for severance, are estimated to be between $1.7 and $2.0 million, expected to be accounted for in the first half of 2024. However, these projections come with caution, as they are forward-looking statements subject to various risks and uncertainties that could lead to different actual outcomes, and the company warns against relying too heavily on these predictions.
For further insights into PI financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
