Strong Market Position
Impinj holds the number one endpoint IC market share, capturing 85% of the industry's 2024 unit volume growth, with continued strong engagement from large enterprises.
Above Expectations Financial Performance
First-quarter revenue was $74.3 million, with endpoint IC revenue exceeding expectations. Strong book-to-bill ratio and solid pipeline activity were observed.
Positive Second Quarter Outlook
Impinj expects second-quarter revenue between $91 million and $96 million, a quarter-over-quarter increase of 26% at the midpoint, driven by licensee payments.
Gen2X Technology Success
Gen2X technology demonstrated a 44% increase in overhead reading solution area coverage, leading to a major deployment by a large apparel retailer.
Cash and Investments Position
Impinj ended the first quarter with cash, cash equivalents, and investments of $232.5 million, providing a strong financial backdrop for future investments.