Impinj, Inc. (NASDAQ:PI) Q2 2023 Earnings Conference Call July 26, 2023 5:00 PM ET

Company Participants

Andy Cobb – Vice President-Strategic Finance

Chris Diorio – Co-Founder and Chief Executive Officer

Cary Baker – Chief Financial Officer

Jeff Dossett – Chief Revenue Officer

Conference Call Participants

Harsh Kumar – Piper Sandler

Jim Ricchiuti – Needham & Company

Mike Walkley – Canaccord Genuity

Mark Lipacis – Jefferies

Scott Searle – ROTH MKM

Operator

Welcome to the Impinj Second Quarter 2023 Earnings Conference Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask a question. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Andy Cobb, Vice President, Strategic Finance. Please go ahead.

Andy Cobb

Thank you, MJ. Good afternoon and thank you all for joining us to discuss Impinj’s second quarter 2023 results. On today’s call, Chris Diorio, Impinj’s Co-Founder and CEO, will provide a brief overview of our market opportunity and performance. Cary Baker, Impinj’s CFO, will follow with a detailed review of our second quarter 2023 financial results and third quarter outlook. We will then open the call for questions. Jeff Dossett, Impinj’s CRO, will join us for the Q&A. You can find management’s prepared remarks, plus trended financial data, on the company’s Investor Relations website.

We will make statements in this call about financial performance and future expectations that are based on our outlook as of today. Any such statements are forward-looking under the Private Securities Litigation Reform Act of 1995. While we believe we have a reasonable basis for making these forward-looking statements, our actual results could differ materially because any such statements are subject to risks and uncertainties. We describe these risks and uncertainties in the annual and quarterly reports we file with the SEC. We do not undertake, and expressly disclaim, any obligation to update or alter our forward-looking statements except as required by law.

On today’s call, all financial metrics except for revenue, or where we explicitly state otherwise, are non-GAAP. Balance-sheet and cash-flow metrics are GAAP. Please refer to our earnings release for a reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics. Before turning to our results and outlook, note that we will participate in the 12th Annual Needham Virtual Industrial Tech, Robotics, and Clean Tech one on one Conference on August 4th; the Oppenheimer 26th Annual Technology, Internet and Communications Conference on August 8th; the Canaccord Genuity 43rd Annual Growth Conference on August 10th in Boston; the Jefferies Semiconductor, IT Hardware and Communications Technology Summit on August 29th and 30th in Chicago; the Goldman Sachs Communicopia and Technology Conference on September 6th in San Francisco; the Piper Sandler Growth Frontiers Conference on September 12th in Nashville; and Lake Street’s Big 7 Conference on September 14th in New York. We look forward to connecting with many of you at those events.