Impinj Soars on Record Revenue Fueled by RFID Demand

Impinj has reported a landmark second quarter, achieving record revenue, adjusted EBITDA, and earnings per share. The company's success was propelled by strong demand for its RAIN RFID Endpoint IC products, particularly within the retail, supply chain, and logistics sectors. Management has also forecast continued strong sequential growth for the third quarter. This positive outlook is attributed to robust bookings, an accelerating custom ASIC ramp, and anticipated inventory rebuilding by partners.

Second-quarter revenue saw a significant increase of 46% sequentially and 11% year-over-year, reaching $108.4 million. Non-GAAP net income hit a record $27 million, or $0.86 per diluted share. The Endpoint IC segment, a primary driver of this growth, generated a record $96.4 million in revenue, up 14% from the previous year. The CEO highlighted that Endpoint IC unit volume also set a quarterly record, with retail apparel, general merchandise, supply chain, and food applications all contributing to this success.