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.
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.