Shares of Impinj (NASDAQ:PI), a leading provider of RAIN RFID solutions, plunged more than 20% in after-hours trading on Wednesday, following the company's fourth-quarter 2024 earnings report.
While Impinj's fourth-quarter earnings per share of $0.48 met analysts' consensus estimate, the company's revenue of $91.60 million missed the expected $92.95 million, representing a 1.46% shortfall.
Despite the revenue miss, Impinj reported a 29.65% year-over-year increase in sales, reaching $91.60 million compared to $70.65 million in the same period last year. The company's adjusted gross margin stood at 53.1%, and it generated an adjusted EBITDA of $15 million during the quarter.
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