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Exhibit 99.1 Impinj Reports First Quarter 2021 Financial Results SEATTLE , WA , Apr. 28 , 2021– Impinj , Inc. ( NASDAQ : PI ) , a leading RAIN RFID provider and Internet of Things pioneer , today released its financial results for the first quarter ended March 31 , 2021 . “ Our first - quarter results were strong , exceeding our revenue and profitability guidance , ” said Chris Diorio , Impinj co - founder and CEO . " We delivered a record bookings quarter , strengthened our team and see strong demand and growth opportunities ahead . " First Quarter 2021 Financial Summary • Revenue of $ 45.2 million • GAAP gross margin of 48.6 % ; non - GAAP gross margin of 50.3 % • GAAP net loss of $ 9.4 million , or loss of $ 0.40 per diluted share using 23.7 million shares • Adjusted EBITDA of $ 0.9 million • Non - GAAP net income of $ 0.3 million , or income of $ 0.01 per diluted share using 25.7 million shares A reconciliation between GAAP and non - GAAP information is contained in the tables below . Additionally , descriptions of these non - GAAP financial measures are provided in the “ Non - GAAP Financial Measures " sections below . Second Quarter 2021 Financial Outlook Impinj provides guidance based on current market conditions and expectations ; actual results may differ materially . Please refer to the comments below regarding forward - looking statements . The following table presents Impinj's financial outlook for the second quarter 2021 ( in millions , except per share data ) :