By Adriano Marchese

Impinj shares rose after the company reported better-than-expected results for the first quarter and a rosy outlook for the second quarter backed by strong bookings for its chips.

Shares traded 22% higher at $146.70.

The RAIN RFID provider and Internet of Things company late Wednesday reported revenue of $74.3 million, unchanged from a year earlier, but above its own guidance and analyst forecasts which expected a decline to $72.5 million, according to FactSet.

Net loss widened to $25.3 million from $8.5 million, which on a per-share basis is a loss of 83 cents from a loss of 30 cents.

Adjusted earnings came in at 14 cents, ahead of its own guidance and the 11 cents forecast by analysts.

Looking ahead to the second quarter, revenue is expected in the range of $103 million to $106 million, with net income of 7.6 million to $9.1 million. Analysts expected revenue of $96.6 million.

On a per-share basis earnings are expected to be between 24 cents and 29 cents, and adjusted earnings are projected to be between 77 cents and 82 cents, above forecasts of 64 cents.

Co-founder and Chief Executive Chris Diorio credits bookings for its Endpoint IC, its RAIN RFID chips, which hit an all-time record, supporting the company's second-quarter revenue outlook.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 30, 2026 11:40 ET (15:40 GMT)

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