Impinj, Inc. (NASDAQ:PI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 29, 2020 • 05:00 pm ET


Impinj, Inc. (NASDAQ:PI) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Impinj Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. I would now like to turn the conference over to Ellen Hayes-Roth, Investor Relations. Please go ahead.

Ellen Hayes-Roth

Thank you, Operator. Good afternoon, and thank you all for joining us to discuss Impinj's Second Quarter 2020 Results. On today's call, Chris Diorio, Impinj's Co-Founder and CEO will provide a brief overview of our market opportunity and performance. Cary Baker, Impinj's CFO will follow with a detailed review of our second quarter 2020 financial results and third quarter 2020 commentary. We will then open the call for questions.

Jeff Dossett, Impinj's Chief Revenue Officer, is also on the call and will join Chris and Cary in the Q&A session. Management's prepared remarks, along with trended financial data are available on the Investor Relations section of Impinj's website. Before we start the call, please note that we will make certain statements during the call that are not historical facts, including those regarding our plans, objectives or expected performance. The expected or potential impact of COVID-19 on our business, operating results, financial condition or prospects and the expected or potential responses of government authorities, customers, partners and the Company to COVID-19.

To the extent we make such statements, they are forward-looking within the meaning of the Private Securities Litigation Reform Act from 1995. Any such forward-looking statements represent our outlook only as of the date of this conference call. While we believe any forward-looking statements we make, including concerning COVID-19, are reasonable, our actual results could differ materially because any statements based on current expectations are subject to risks and uncertainties. Please see the risk factors in the annual and quarterly reports we file with the SEC and risk factors in the Form 10-Q for more information about these risks.

We do not undertake and expressly disclaim any objection to update or alter our forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. During today's call, all financial numbers we discuss, except for revenue or where we explicitly state otherwise, are non-GAAP financial measures. Balance sheet and cash flow metrics are on a GAAP basis. Free cash flow is a non-GAAP measure.

Before turning to our results and outlook, I'd like to note that the Company will virtually attend the 9th Annual Needham Industrial Technologies Conference on August 6th, the Oppenheimer 23rd Annual Technology, Internet & Communications Conference on August 11th, Canaccord Genuity's 40th Annual Growth Conference on August 13th, and Colliers Securities' Conference on September 10th. We look forward to connecting with many of you at these upcoming events.

I will now turn the call to Chris Diorio, Impinj's Co-Founder and Chief Executive Officer. Chris?

Chris Diorio

Thank you, Ellen. Thank you all for joining our call. I hope you and your loved ones are, and remain safe and well. COVID-19 has significantly affected Impinj and our