Impinj Inc (STU:27J)
€ 187.65 0.8 (0.43%) Market Cap: 5.20 Bil Enterprise Value: 5.31 Bil PE Ratio: 224.65 PB Ratio: 41.30 GF Score: 72/100
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Q2 2024 Impinj Inc Earnings Call Transcript

Jul 24, 2024 / 09:00PM GMT
Release Date Price: €140.25 (-7.33%)

Key Points

Positve
  • Second-quarter revenue topped $100 million, setting a new record.
  • Adjusted EBITDA for the second quarter was $26.8 million, significantly above guidance.
  • Free cash flow for the second quarter was $44.1 million.
  • Strong demand for products and platform, particularly in apparel, footwear, and general merchandise.
  • Promotions and additions to the executive team, indicating strong internal growth and leadership.
Negative
  • Second-quarter systems revenue was down 14% sequentially and 38% year over year.
  • Operating expenses are expected to increase sequentially in the third quarter.
  • Lower channel reader sales impacted systems revenue negatively.
  • Endpoint IC product revenue growth is expected to be cautious due to outperforming seasonality in the first half of the year.
  • Potential future challenges in wafer supply due to the cyclical nature of the semiconductor industry.
Operator

Welcome to the Impinj second-quarter 2024 financial results conference call and webcast. (Operator Instructions) Please note today's event is being recorded.

I would now like to turn the conference over to Mr. Andy Cobb, Vice President, Strategic Finance. Please go ahead.

Andy Cobb
Impinj Inc - Vice President, Strategic Finance

Thank you, Rocco. Good afternoon and thank you all for joining us to discuss Impinjâs second-quarter 2024 results.

On todayâs call, Chris Diorio, Impinjâs Co-founder and CEO, will provide a brief overview of our market opportunity and performance. Cary Baker, Impinjâs CFO, will follow with a detailed review of our second-quarter financial results and third-quarter outlook. We will then open the call for questions. Jeff Dossett, Impinjâs CRO, will join us for the Q&A.

You can find managementâs prepared remarks, plus trended financial data, on the companyâs investor-relations website. We will make statements in this call about financial performance and future expectations that are based on our outlook as

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