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Technology Stocks : Impinj, Inc.
PI 163.84-3.1%Nov 7 9:30 AM EST
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From: Cooters12/8/2021 10:03:20 AM
1 Recommendation

Recommended By
Savant

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PI at RJ - 12/7/21

Fireside chat with CFO Cary. Mostly overview but a few information nuggets.

- They have received some upside in wafers beyond previous commitments, but still supply constrained going into 2022. The upside will allow them to have higher volumes in Q4 than the seasonal average. I haven't compared to what they said when forecasting Q4 but at a minimum that is a strong statement.

- Beyond the 300m post processing additions of 100% in Q3 and 50% in Q4, they will be adding additional post processing capacity in 2022.

- Retail penetration is approaching 20% of the 80B TAM. 93% of retailers have at least piloted RAIN.

- Think eventually barcodes will be a backup solution since the cost is minimal, but RAIN will be the de facto standard for next gen tracking, ie no real competition.

- Their supply and logistics dock door deployment is for 1 biz unit only within the large NA customer, it took 7-8 quarters to deploy.

- Less than 1% penetration in supply and logistics, a 400B TAM.

- NXP and PI have about a 90% market share in end unit ICs, essentially a duopoly. Haven't seen any significant new entrants, but monitor closely as the huge opportunity is sure to attract attention.

- 3 new additions to the BOD over the past 18 months are all seasoned semi professionals.

Coot
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