RFID chip maker Impinj reports $25M in revenue

Impinj, the Seattle company whose RFID products are used to identify and locate a multitude of products, from medical supplies and food to automobile parts and apparel, posted a net loss of $14.4 million on revenue of $25.1 million during the quarter ended March 31. Even though net losses are growing and the company just closed offices resulting in a nine percent reduction in workforce, Impinj CEO Chris Diorio indicated that things are starting to turn a corner. “Based on team execution, enhanced partner inventory visibility and positive bookings trends we believe we are on track to make the first half of 2018 the turning point for our business,” said Diorio in a press release.