Impinj (NASDAQ: PI) reported Q1 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $31.7 million versus the consensus estimate of $30.7 million.

“We delivered a solid first quarter, with revenue growing 47% over last year driven by the team’s strong execution and continued market adoption of our platform,” said Chris Diorio, Impinj co-founder and CEO. “We are pleased with the steady progress toward our vision of digital life for everyday items, and we will continue investing in this massive market opportunity to further enhance our leading market position.”

First Quarter 2017 Financial Summary

• Revenue grew 47% year-over-year to $31.7 million
• GAAP gross margin of 52.9%; non-GAAP gross margin of 54.2%
• GAAP net loss of $2.2 million, or loss of $0.11 per diluted share using 20.3 million shares
• Adjusted EBITDA of $0.2 million
• Non-GAAP net income of $0.1 million, or income of $0.01 per diluted share using 21.7 million shares

For earnings history and earnings-related data on Impinj (PI) click here.