Impinj surges 20% after Q2 outlook beats estimates
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Shares of Impinj (PI) rose 20% in premarket trading after the company reported a second quarter outlook that exceeded analysts' expectations. Impinj anticipates revenue between $103M and $106M, a 7% increase year-over-year, and non-GAAP EPS between $0.77 and $0.82, surpassing the consensus estimate of $0.70. CEO Chris Diorio expressed confidence in the company's market position despite macroeconomic uncertainties. The first quarter revenue was $74.3M, meeting estimates, with record bookings for endpoint ICs, contributing to a strong outlook for Q2.
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