Impinj, Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $97.9 million, a decrease of 4.5% from $102.5 million in the same quarter of the previous year. For the first half of 2025, the company generated $172.2 million in revenue, down from $179.3 million in the first half of 2024. The decline in revenue was primarily attributed to lower average selling prices (ASPs) for endpoint integrated circuits (ICs), despite a slight increase in shipment volumes. The company's gross profit for the quarter was $56.6 million, resulting in a gross margin of 57.8%, an increase from 56.1% in the prior year, driven by a favorable product mix and higher licensing revenue.
In terms of profitability, Impinj reported a net income of $11.6 million for the second quarter, compared to $10.0 million in the same period last year. The increase in net income was supported by a reduction in operating expenses, which fell to $45.7 million from $48.5 million year-over-year. Notably, the company did not incur any restructuring costs in the latest quarter, contrasting with $1.8 million in the previous year. The decrease in operating expenses was primarily due to lower general and administrative costs, as well as reduced sales and marketing expenses.
Operationally, Impinj's endpoint IC revenue decreased to $84.6 million from $89.4 million year-over-year, while systems revenue saw a slight increase to $13.3 million from $13.1 million. The company continues to focus on expanding its product offerings and enhancing its platform capabilities. As of June 30, 2025, Impinj had cash, cash equivalents, and short-term investments totaling $193.2 million, with working capital of $319.7 million. The company’s employee headcount was reduced by approximately 10% in early 2024 as part of a strategic restructuring aimed at aligning its operations for long-term growth.
Looking ahead, Impinj remains optimistic about the adoption of its RAIN technology, despite facing challenges from macroeconomic conditions and competitive pressures. The company plans to continue investing in research and development to drive innovation and expand its market presence. However, it acknowledges the uncertainties related to global trade policies and the potential impact on its supply chain and customer demand. Impinj's management believes that its existing cash reserves will be sufficient to meet operational needs for at least the next 12 months, while also exploring additional financing options to support future growth initiatives.
About IMPINJ INC
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