Impinj, a Seattle-based maker of Radio Frequency Identification technology, will announce Wednesday its quarterly earnings for the first time since becoming a publicly-traded company last month.
Analysts surveyed in advance by Thomson Reuters expect Impinj, whose RFID chips allow retailers to track inventory or manufacturers to track parts, to post earnings of roughly 2 cents per share and revenue of approximately $25 million. Analysts expect Impinj to report annual revenue of $101 million this year and record a small loss of a penny per share.
Five analysts are covering Impinj, according to Thompson Reuters, and they are: Canaccord Genuity Group, Needham & Co., Pacific Crest Securities, Piper Jaffray and RBC Capital Markets.
Impinj began trading publicly July 21, and Wall Street immediately liked what it saw. The company’s stock started at $14 a share and popped more than 20 percent on the first day of trading. The stock has consistently risen since, and Wednesday morning it sat at around $23.25, an increase of approximately 66 percent since the IPO.
In its IPO Impinj sold 4.8 million shares, raising $67.2 million. It also granted underwriters the option to buy 720,000 shares at the offering price.
The company posted revenue of $78.5 million last year, up from $63.8 million in 2014. It first turned a profit in 2013, and showed net income of $900,000 in 2015. Even so, it has accumulated a deficit of $187.6 million over the years.
