Impinj, Inc. released its financial results for the fourth quarter and full year ended December 31, 2024, reporting record full-year revenue of $366.087 million, an increase of 19% from 2023. For the fourth quarter, revenue was $91.569 million, which was up 29.6% year-over-year but slightly missed the midpoint of the company's guidance.
The company reported a GAAP net loss of $2.690 million, or $0.09 per share, for Q4 2024. Non-GAAP net income for the quarter was $14.527 million, or $0.48 per diluted share, which was in line with analysts' consensus estimates. Full-year 2024 adjusted EBITDA reached $65.863 million, demonstrating increasing operating leverage.
However, Impinj provided a cautious outlook for the first quarter of 2025, with expected revenue between $70.0 million and $73.0 million. The midpoint of this guidance, $71.5 million, is 22.8% below analysts' estimates. The company also guided for a GAAP net loss between $16.8 million and $15.3 million, and non-GAAP net income per share between $0.06 and $0.11, reflecting anticipated near-term headwinds.
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