IMPINJ Reports Second Quarter FY2023 Earnings Results
August 22, 2023
🌥️Earnings Overview
On June 30th 2023, IMPINJ ($NASDAQ:PI) released their earnings results for Q2 of FY2023. Revenue for the quarter was USD 86.0 million, a significant increase of 43.8% compared to the same quarter in FY2022. However, reported net income was USD -8.1 million, a decrease from the -11.5 million reported in Q2 of FY2022.
Market Price
On Wednesday, IMPINJ reported its second quarter FY2023 earnings results, and the stock opened at $80.6 and closed at $78.6, representing a 2.0% decrease from its previous closing price of 80.2. Despite these results, the company remains optimistic about its future prospects and is confident in its ability to capitalize on the growing demand for its products and services. Going forward, Impinj is focused on expanding its customer base and offering innovative solutions to meet the changing needs of the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Impinj. More…
| Total Revenues | Net Income | Net Margin |
| 316.74 | -14.74 | -4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Impinj. More…
| Operations | Investing | Financing |
| -40.82 | 38.81 | 14.67 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Impinj. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 383.55 | 346.75 | 1.38 |
Key Ratios Snapshot
Some of the financial key ratios for Impinj are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 26.7% | – | -3.7% |
| FCF Margin | ROE | ROA |
| -19.8% | -22.9% | -1.9% |
Analysis
At GoodWhale we recently conducted an analysis of IMPINJ‘s wellbeing. After a thorough review, we have concluded that according to our Risk Rating, IMPINJ is a high risk investment in terms of both financial and business aspects. In order to better inform potential investors, we have identified five risk warnings in IMPINJ’s income sheet, balance sheet, cashflow statement, non financial journal and financial journal. We strongly encourage all investors to use these warnings to take informed decisions and weigh the pros and cons of investing in IMPINJ. To ensure better access to this information, we have made it available to all users on our website, goodwhale.com. We invite you to take a look and make sure your decisions are well-thought-out. 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
Investors in IMPINJ were pleased with the company’s second quarter results for FY2023. Total revenue for the quarter was USD 86.0 million, representing a growth of 43.8% from the same quarter a year prior. Net income for the quarter was USD -8.1 million, a decrease from the -11.5 million for the same period in the previous year.
Despite this dip, the company’s strong revenue growth indicates that it is still a promising investment opportunity. Investors should continue to monitor IMPINJ’s performance to decide whether it remains a good option for their portfolio.
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