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Exhibit 99.1 Impinj Reports Second Quarter 2021 Financial Results SEATTLE , WA , Jul . 28 , 2021– Impinj , Inc. ( NASDAQ : PI ) , a leading RAIN RFID provider and Internet of Things pioneer , today released its financial results for the second quarter ended June 30 , 2021 . “ Our second - quarter results were strong , exceeding our revenue and profitability guidance , ” said Chris Diorio , Impinj co - founder and CEO . " We delivered a record bookings quarter , record adjusted EBITDA , introduced groundbreaking new products , strengthened our team and see strong demand ahead . " Second Quarter 2021 Financial Summary • Revenue of $ 47.3 million • GAAP gross margin of 52.4 % ; non - GAAP gross margin of 54.5 % • GAAP net loss of $ 8.9 million , or loss of $ ( 0.37 ) per diluted share using 24.1 million shares • Adjusted EBITDA of $ 3.3 million Non - GAAP net income of $ 2.7 million , or income of $ 0.11 per diluted share using 25.6 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 . Third 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 third quarter 2021 ( in millions , except per share data ) : Revenue GAAP Net loss Adjusted EBITDA loss Non - GAAP net loss GAAP Weighted - average shares – basic and diluted GAAP Net loss per share — basic and diluted Non - GAAP Weighted - average shares - basic and diluted Non - GAAP Net loss per share - basic and diluted Three Months Ending September 30 , 2021 $ 43.0 to $ 45.0 ( $ 15.7 ) to ( $ 14.7 ) ( $ 3.0 ) to ( $ 1.5 ) ( $ 3.6 ) to ( $ 2.1 ) 24.30 to 24.50 ( $ 0.65 ) to ( $ 0.60 ) 24.30 to 24.50 ( $ 0.15 ) to ( $ 0.08 )