IMPINJ Reports Record Fourth Quarter Financial Results for Fiscal Year 2022.

Earnings Overview

On December 31, 2022, IMPINJ ($NASDAQ:PI) reported their financial results for the fourth quarter of fiscal year 2022 which showed total revenue of -USD 0.1 million, an impressive growth of 99.4% compared to the same period in 2021. Likewise, their net income had significantly increased by 45.7%, amounting to USD 76.6 million.

Transcripts Simplified

Impinj had a strong year in 2022, with four consecutive record-revenue quarters, record adjusted EBITDA margin, and record backlog entering 2023. Fourth quarter revenue was up 12% sequentially and 46% year-over-year, to $76.6 million. Endpoint IC revenue was $58.7 million, up 15% sequentially and 53% year-over-year. Systems revenue was $17.9 million, up 4% sequentially and 26% year-over-year.

Gross margin for the fourth quarter was 53.8%, compared with 56.9% in third-quarter 2022 and 58.2% in fourth-quarter 2021. Operating expense was $29.5 million. Full-year 2022 gross margin was a record 55.5%, compared with 54.2% in 2021.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Impinj. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Impinj. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Impinj. More…

Key Ratios Snapshot

Some of the financial key ratios for Impinj are shown below. More…

Share Price

The company’s stock opened at $128.7 and closed at $125.1, a decrease of 3.0% from its previous closing price of 129.0. This strong performance was due to the success of IMPINJ’s RFID solutions, which are widely used in the retail, manufacturing and logistics industries. The company saw an increase in demand for its products and services, leading to an increase in revenue and profits. Furthermore, the company’s investments in research and development paid off, with new product launches contributing to its growth.

Overall, IMPINJ’s record fourth quarter financial results were a positive sign for the company’s future growth prospects. With a strong focus on innovation and customer satisfaction, IMPINJ looks to continue its success in the years to come. Live Quote…

Analysis

At GoodWhale, we specialize in helping investors make informed decisions about their investments. That’s why we’re here to analyze IMPINJ’s financials and provide you with the information you need. Using our sophisticated Risk Rating system, we have determined that IMPINJ is a high risk investment. This means that there are potential risks involved with investing in this company. However, we also recognize that there could be potential rewards as well. In order to give you the most accurate assessment of IMPINJ’s financials, we have reviewed its income sheet, balance sheet, cashflow statement, non-financial and financial journal. We have identified 5 risk warnings in these documents. If you would like to get a full picture of the risks associated with investing in IMPINJ, become a registered user on GoodWhale and you will be able to view all of the risk warnings we found. More…

Peers

Its product portfolio includes RFID readers, antennas, tags, and other related hardware and software products. The company’s solutions are used in a wide variety of applications, including inventory management, supply chain management, asset tracking, and access control. Impinj also offers a wide range of services, including consulting, support, and education. The company’s products compete against those offered by Ceragon Networks Ltd, u-Blox Holding AG, and Redline Communications Group Inc.

– Ceragon Networks Ltd ($NASDAQ:CRNT)

Ceragon Networks Ltd is a global provider of high-capacity broadband wireless solutions. Its solutions enable mobile operators, fixed-line service providers, private network operators and enterprises to deliver voice, data and multimedia services. Ceragon Networks Ltd has a market cap of 158.42M as of 2022 and a Return on Equity of -0.74%. The company’s solutions are based on its proprietary Ultra High Capacity technology, which delivers high-capacity, high-availability and low-latency connectivity.

– u-Blox Holding AG ($LTS:0QNI)

u-Blox Holding AG is a Swiss technology company that specializes in positioning and wireless communication technologies for the automotive, industrial, and consumer markets. The company has a market capitalization of 781.27 million as of 2022 and a return on equity of 13.55%. u-Blox Holding AG develops and markets global navigation satellite system (GNSS) positioning products and services for automotive, industrial, and consumer applications. The company’s products include GNSS chips and modules, GNSS software, GNSS reference receivers, GNSS antenna solutions, GNSS evaluation kits, and GNSS simulators. u-Blox Holding AG also provides cellular communication products, such as cellular modules, cellular gateways, and cellular IoT products.

Summary

IMPINJ reported strong financial results for its fourth quarter of fiscal year 2022. Total revenue for the quarter was up 99.4% from the previous year, reaching USD -0.1 million. Net income was also up 45.7%, amounting to USD 76.6 million.

Despite these positive figures, the stock price moved down on the same day, suggesting that investors are not convinced by the long-term prospects of IMPINJ. Nevertheless, the strong revenue and profit growth indicate that further research is necessary in order to make an informed decision on investing in the company.