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Impinj(PI) - 2025 Q1 - Quarterly Results
PIImpinj(PI)2025-04-23 20:18

Financial Performance - First Quarter 2025 revenue was 74.3million,adecreasefrom74.3 million, a decrease from 76.8 million in the same period last year[16] - GAAP net loss for the first quarter was 8.5million,oralossof8.5 million, or a loss of 0.30 per diluted share[4] - Non-GAAP net income for the first quarter was 6.3million,orincomeof6.3 million, or income of 0.21 per diluted share[4] - GAAP net loss for Q1 2025 was 8,451,000,asignificantdecreasefromanetincomeof8,451,000, a significant decrease from a net income of 33,344,000 in Q1 2024[23] - Adjusted EBITDA for Q1 2025 was 6,474,000,slightlydownfrom6,474,000, slightly down from 6,685,000 in Q1 2024[23] - Free cash flow for Q1 2025 was (13,006,000),adeclinefrom(13,006,000), a decline from 53,938,000 in Q1 2024[24] Revenue Guidance - Second Quarter 2025 revenue guidance is projected between 91.0millionand91.0 million and 96.0 million[5] - Non-GAAP net income for Q2 2025 is projected to be 22,059,000,withadilutednon−GAAPnetincomepershareof22,059,000, with a diluted non-GAAP net income per share of 0.72[26] - GAAP net income for Q2 2025 is expected to be 6,812,000,withadilutedGAAPnetincomepershareof6,812,000, with a diluted GAAP net income per share of 0.23[26] EBITDA and Cash Flow - Adjusted EBITDA for the first quarter was 6.5million,withaforecastof6.5 million, with a forecast of 23.5 million to 26.0millionforthesecondquarter[4][5]−ForecastedadjustedEBITDAforQ22025is26.0 million for the second quarter[4][5] - Forecasted adjusted EBITDA for Q2 2025 is 24,700,000[26] - GAAP net cash used in operating activities for Q1 2025 was (11,143,000),comparedto(11,143,000), compared to 60,140,000 in Q1 2024[24] Assets and Liabilities - Cash and cash equivalents increased to 61.3millionfrom61.3 million from 46.1 million at the end of the previous quarter[18] - Total assets decreased to 479.8millionfrom479.8 million from 489.1 million at the end of 2024[14] - Total liabilities decreased to 319.3millionfrom319.3 million from 339.2 million at the end of 2024[14] Gross Margin - GAAP gross margin for Q1 2025 was 49.4%, an increase from 48.9% in Q1 2024[23] - Non-GAAP gross margin for Q1 2025 was 52.7%, compared to 51.5% in Q1 2024[23] Strategic Focus - The company is focused on extending its technology lead and market share in the RAIN RFID sector[2] - The company reported a significant increase in stock-based compensation, forecasted at $15,000,000 for Q2 2025[26]