Impinj maintains Q4 revenue and EBITDA guidance

SEATTLE - Impinj, Inc. (NASDAQ: PI), a key player in RAIN RFID technology and Internet of Things solutions with a market capitalization of $4.23 billion, has affirmed that its revenue and adjusted EBITDA for the fourth quarter of 2024 are expected to align with the previously provided estimates. The company anticipates revenue to be between $91 million and $94 million, with adjusted EBITDA ranging from $13.6 million to $15.1 million. According to InvestingPro data, Impinj has demonstrated impressive momentum with an 83.36% return over the past year, though current analysis suggests the stock may be trading above its Fair Value.

The announcement came ahead of Impinj’s participation in the 27th Annual Needham Growth Conference scheduled for Wednesday, where CEO Chris Diorio and CFO Cary Baker will engage in a fireside chat. The company will provide a live webcast of the event, with a replay available on its investor relations website.

Impinj also outlined its schedule for releasing comprehensive financial results for both the fourth quarter and the full year of 2024. The report is due after the U.S. markets close on February 5, 2025, followed by a conference call and webcast to discuss the results and offer a perspective on the first quarter of 2025.

These forward-looking statements are based on current assumptions but are subject to risks and uncertainties that could cause actual results to differ materially. Impinj highlighted that these preliminary figures are still under review and that the final audited results could vary. The company also emphasized that these figures are pending audit by their independent accounting firm.

Impinj is recognized for enabling businesses to wirelessly connect billions of everyday items to the internet, facilitating data-driven insights and innovation. The company's RAIN RFID platform provides real-time information that contributes to a broad Internet of Things ecosystem.

Investors and the public are reminded that Impinj disseminates important information through various channels, including press releases, SEC filings, and social media, to ensure broad and non-exclusive distribution. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 14 additional ProTips, detailed valuation metrics, and a full research report on Impinj, helping investors make more informed decisions about this high-growth technology company.

This article is based on a press release statement from Impinj, Inc.

In other recent news, Impinj, a leading provider of RAIN RFID solutions, has seen several analysts raise their stock target prices following a strong third-quarter performance. Lake Street Capital Markets increased its price target to $251, maintaining a Buy rating, while Needham revised its price target to $245. Cantor Fitzgerald also raised its target to $260, and Evercore ISI increased its share target from $205 to $270.

Impinj's Q3 earnings per share (EPS) of $0.56 exceeded estimates, with revenue reaching $95.2 million, marking a 46% increase year-over-year. The company's adjusted EBITDA stood at $17.3 million, reflecting an 18.2% margin. Looking ahead, Impinj projects Q4 revenue to be between $91 million and $94 million, a 31% year-over-year increase, with adjusted EBITDA projected between $13.6 million and $15.1 million.

These recent developments reflect the strong execution of Impinj's business strategies and the positive outlook on the industry's conditions. Lake Street Capital Markets and other firms anticipate that as investors gain a deeper understanding of Impinj's sustainable growth and the increasing earnings leverage within the company's financial model, the stock's value is likely to rise. Despite potential concerns over the company's valuation, these firms stand by their recommendations, highlighting the robust execution of Impinj's business plan and the encouraging remarks made by its management team.

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