Earnings call
Impinj, Inc. (NASDAQ:PI) Q2 2024 Earnings Call Transcript (msn.com)
We expect IC volumes at the large North American retailer to continue growing, driven by general merchandise tagging and product rebuys. And we expect the second large North American supply chain and logistics end user to increase their label consumption and fixed-reader footprint, driving demand for both our endpoint ICs and E-family reader ICs. Taken together, our enterprise-solutions efforts continue paying dividends in silicon volumes. Touching now on growth opportunities, we see food tagging expanding, including in-store item-level pilots where the volumes are really large. In apparel, we see increasing supply chain usage driving demanding readability expectations, benefiting our higher-performing M800. In general merchandise, we see market expansion as retailers piggyback on the pioneering work of the large North American retailer.
snip
Scott Searle: Got you. And Chris, if I could just quickly follow up. You’re starting to talk about food vertical again, or starting to talk about it now. Huge opportunity. I’m wondering if you could take us through how you’re seeing the early implementations and pilots, and how we should think about that as we get into, I guess, 2025 and beyond? Thanks.
Chris Diorio: Yes. So Scott, that’s – as I said, I think it was on last quarter’s earnings call, food opportunity is moving more quickly than I had previously anticipated, and I had tempered my expectations just based on the potential volumes in food, the bigger things are the slower they tend to go. But we saw – we’re seeing and saw then or continue to see some real promising opportunities around pallet and case tagging through the supply chain for food freshness. Those opportunities are accelerating or accelerated in the second quarter, and we see further acceleration looking further out. On top of that, I said in my prepared remarks this time that we’re actually now seeing item-level pilots in stores. That’s relatively new.
Those pilots have not yet turned into rollouts, but there are multiple of them and the opportunity around food freshness and reducing food waste in stores is very significant. So the fact that we’re already seeing in-store pilots to me is very exciting. I can’t give you a timeframe for when those pilots will turn into deployments, but just the size and the scope of the pilots and the fact that they are in stores and they’re layering on top of the supply chain opportunities for me is very exciting. |
