$PI
IMPINJ INC

2022 Q4 Form 10-Q Financial Statement

#000095017022020186 Filed on October 26, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $76.59M $68.27M $45.19M
YoY Change 45.68% 51.06% 60.28%
Cost Of Revenue $36.42M $30.84M $22.18M
YoY Change 55.71% 39.02% 49.66%
Gross Profit $40.17M $37.44M $23.01M
YoY Change 37.64% 62.67% 72.1%
Gross Profit Margin 52.45% 54.83% 50.92%
Selling, General & Admin $21.23M $20.41M $18.60M
YoY Change 12.73% 9.77% 28.34%
% of Gross Profit 52.86% 54.53% 80.81%
Research & Development $18.98M $18.77M $16.79M
YoY Change 7.99% 11.78% 41.07%
% of Gross Profit 47.26% 50.13% 72.95%
Depreciation & Amortization $1.588M $1.483M $1.095M
YoY Change 10.97% 35.43% -1.35%
% of Gross Profit 3.95% 3.96% 4.76%
Operating Expenses $40.21M $39.18M $35.39M
YoY Change 10.44% 10.72% 197.33%
Operating Profit -$46.00K -$1.744M -$12.37M
YoY Change -99.36% -85.9% -941.06%
Interest Expense -$1.207M $1.205M -$526.0K
YoY Change 23.92% -329.09% -61.32%
% of Operating Profit
Other Income/Expense, Net $1.150M $774.0K $2.000K
YoY Change -110.15% 38600.0% -96.0%
Pretax Income -$1.000K -$2.175M -$12.90M
YoY Change -99.99% -83.13% -10.01%
Income Tax $117.0K $24.00K $28.00K
% Of Pretax Income
Net Earnings -$118.0K -$2.199M -$12.92M
YoY Change -99.41% -82.99% -9.91%
Net Earnings / Revenue -0.15% -3.22% -28.6%
Basic Earnings Per Share -$0.09 -$0.53
Diluted Earnings Per Share $0.00 -$0.09 -$531.2K
COMMON SHARES
Basic Shares Outstanding 25.91M 25.60M 24.33M
Diluted Shares Outstanding 25.74M 24.33M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $173.7M $181.9M $113.3M
YoY Change -10.14% 60.44% 7.84%
Cash & Equivalents $19.60M $39.31M $65.19M
Short-Term Investments $154.1M $142.5M $48.15M
Other Short-Term Assets $5.032M $5.507M $4.238M
YoY Change -0.34% 29.94% 28.42%
Inventory $46.40M $31.93M $18.43M
Prepaid Expenses
Receivables $50.00M $40.67M $27.05M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $275.2M $260.0M $163.1M
YoY Change 7.57% 59.42% -0.69%
LONG-TERM ASSETS
Property, Plant & Equipment $39.03M $31.12M $40.88M
YoY Change 41.92% -23.87% 32.72%
Goodwill $3.881M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $19.20M $19.20M
YoY Change 34.97%
Other Assets $1.969M $2.223M $2.573M
YoY Change -20.02% -13.6% 114.42%
Total Long-Term Assets $74.57M $67.84M $47.33M
YoY Change 24.83% 43.32% 31.85%
TOTAL ASSETS
Total Short-Term Assets $275.2M $260.0M $163.1M
Total Long-Term Assets $74.57M $67.84M $47.33M
Total Assets $349.7M $327.8M $210.4M
YoY Change 10.84% 55.8% 5.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.02M $13.25M $8.439M
YoY Change 113.3% 57.0% -1.87%
Accrued Expenses $15.10M $17.48M $13.91M
YoY Change 16.21% 25.66% 39.07%
Deferred Revenue $2.250M $2.808M
YoY Change 303.23%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $84.14M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $42.37M $33.64M $107.2M
YoY Change 19.34% -68.63% 447.02%
LONG-TERM LIABILITIES
Long-Term Debt $280.2M $279.8M $0.00
YoY Change 0.57% -100.0%
Other Long-Term Liabilities $118.0K $113.0K $13.90M
YoY Change -57.71% -99.19% -20.57%
Total Long-Term Liabilities $280.4M $280.0M $13.90M
YoY Change 0.51% 1914.09% -80.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.37M $33.64M $107.2M
Total Long-Term Liabilities $280.4M $280.0M $13.90M
Total Liabilities $334.1M $325.7M $121.1M
YoY Change 2.31% 168.94% 33.53%
SHAREHOLDERS EQUITY
Retained Earnings -$386.8M -$386.7M -$342.5M
YoY Change 6.7% 12.91%
Common Stock $403.6M $390.5M $431.8M
YoY Change 14.85% -9.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.59M $2.061M $89.28M
YoY Change
Total Liabilities & Shareholders Equity $349.7M $327.8M $210.4M
YoY Change 10.84% 55.8% 5.14%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$118.0K -$2.199M -$12.92M
YoY Change -99.41% -82.99% -9.91%
Depreciation, Depletion And Amortization $1.588M $1.483M $1.095M
YoY Change 10.97% 35.43% -1.35%
Cash From Operating Activities -$6.172M $14.45M $5.426M
YoY Change 56.57% 166.35% -133.17%
INVESTING ACTIVITIES
Capital Expenditures $6.104M -$2.251M -$6.323M
YoY Change -397.9% -64.4% 474.82%
Acquisitions
YoY Change
Other Investing Activities -$10.39M -$11.44M $12.39M
YoY Change -71.12% -192.28% -129.66%
Cash From Investing Activities -$16.50M -$13.69M $6.071M
YoY Change -56.63% -325.47% -114.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.954M 5.966M 2.518M
YoY Change -97.07% 136.93% 37.6%
NET CHANGE
Cash From Operating Activities -6.172M 14.45M 5.426M
Cash From Investing Activities -16.50M -13.69M 6.071M
Cash From Financing Activities 2.954M 5.966M 2.518M
Net Change In Cash -19.71M 6.730M 14.02M
YoY Change -133.58% -51.98% -124.4%
FREE CASH FLOW
Cash From Operating Activities -$6.172M $14.45M $5.426M
Capital Expenditures $6.104M -$2.251M -$6.323M
Free Cash Flow -$12.28M $16.70M $11.75M
YoY Change 548.49% 42.17% -176.99%

Facts In Submission

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NetIncomeLoss
-24183000
us-gaap Net Income Loss
NetIncomeLoss
-31246000
us-gaap Depreciation
Depreciation
4456000
us-gaap Depreciation
Depreciation
3171000
us-gaap Share Based Compensation
ShareBasedCompensation
32230000
us-gaap Share Based Compensation
ShareBasedCompensation
28951000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-301000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-694000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1203000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
283000
us-gaap Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
2232000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5218000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2042000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9967000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-17895000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-45000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
758000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1107000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1831000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1571000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
754000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1741000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1063000
pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-2490000
pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-2218000
pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-3064000
pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-2772000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
-489000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
133000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2358000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-6106000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6813000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10407000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
159837000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
36431000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
79508000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
70000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5975000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14181000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-86304000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
19388000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2000
pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
12462000
pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
11761000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5102000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11759000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-84593000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
41554000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
123903000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23636000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
39310000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65190000
us-gaap Interest Paid Net
InterestPaidNet
1803000
us-gaap Interest Paid Net
InterestPaidNet
863000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2519000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2173000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-11076000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4611000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11314000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-677000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-6289000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1885000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10859000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-11523000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-510000
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
-5681000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-11259000
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5966000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10057000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2199000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-504000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
2061000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
109119000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8524000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7449000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9416000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
86375000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
719000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10582000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-8906000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
88771000
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2518000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10920000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-12924000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
89278000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
287500000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7654000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
279846000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
297350000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9056000
pi Operating Lease Liabilities From Remeasurement Of Right Of Use Assets
OperatingLeaseLiabilitiesFromRemeasurementOfRightOfUseAssets
698000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Preparing financial statements in conformity with GAAP requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, sales incentives, estimates to complete development contracts, deferred revenue, inventory excess and obsolescence, income taxes, determination of the fair value of stock awards and compensation and employee-related benefits. To the extent there are material differences between these estimates, judgments, or assumptions and actual results, our financial statements will be affected.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
143500000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1700000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
61000000.0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
42000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
288294000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2237000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10982000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6305000
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9178000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7873000
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
11765000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7780000
CY2022Q3 us-gaap Inventory Net
InventoryNet
31925000
CY2021Q4 us-gaap Inventory Net
InventoryNet
21958000
CY2021Q3 pi Inventory Excess And Obsolescence Charges Favorable Impact On Gross Margin Percentage
InventoryExcessAndObsolescenceChargesFavorableImpactOnGrossMarginPercentage
0.020
pi Inventory Excess And Obsolescence Charges Favorable Impact On Gross Margin Percentage
InventoryExcessAndObsolescenceChargesFavorableImpactOnGrossMarginPercentage
0.014
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2288000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
426000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
18000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1844000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1517000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10057000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10920000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32230000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28951000
CY2022Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
47100000
CY2021Q3 pi Number Of Infringement Patents
NumberOfInfringementPatents
1
pi Number Of Business Days In Conversion Condition
NumberOfBusinessDaysInConversionCondition
5
us-gaap Debt Instrument Convertible Threshold Trading Days
DebtInstrumentConvertibleThresholdTradingDays
5
CY2019Q4 pi Premiums Paid For Capped Call Transactions
PremiumsPaidForCappedCallTransactions
10100000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1078000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1038000
us-gaap Operating Lease Cost
OperatingLeaseCost
3164000
us-gaap Operating Lease Cost
OperatingLeaseCost
3114000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
521000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
469000
us-gaap Variable Lease Cost
VariableLeaseCost
1614000
us-gaap Variable Lease Cost
VariableLeaseCost
1436000
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
494000
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
475000
us-gaap Sublease Income
SubleaseIncome
1482000
us-gaap Sublease Income
SubleaseIncome
1425000
CY2022Q3 pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
1105000
CY2021Q3 pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
1032000
pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
3296000
pi Operating Lease Costs Net Of Sublease Income
OperatingLeaseCostsNetOfSubleaseIncome
3125000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11790000
us-gaap Operating Lease Payments
OperatingLeasePayments
3792000
us-gaap Operating Lease Payments
OperatingLeasePayments
3668000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1308000
CY2022Q3 pi Lessee Operating Lease Sublease Income Remainder Of Fiscal Year
LesseeOperatingLeaseSubleaseIncomeRemainderOfFiscalYear
370000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeRemainderOfFiscalYear
938000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4059000
CY2022Q3 pi Lessee Operating Lease Sublease Income Due Next Twelve Months
LesseeOperatingLeaseSubleaseIncomeDueNextTwelveMonths
123000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueNextTwelveMonths
3936000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3853000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Two
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearTwo
3853000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3918000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Three
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearThree
3918000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4019000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due Year Four
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueYearFour
4019000
CY2022Q3 pi Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
1815000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDueAfterYearFour
1815000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18972000
CY2022Q3 pi Lessee Operating Lease Sublease Income Due
LesseeOperatingLeaseSubleaseIncomeDue
493000
CY2022Q3 pi Lessee Operating Lease Liability Payments Net Of Sublease Income Due
LesseeOperatingLeaseLiabilityPaymentsNetOfSubleaseIncomeDue
18479000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3722000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
15250000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3460000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2199000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-12924000
us-gaap Net Income Loss
NetIncomeLoss
-24183000
us-gaap Net Income Loss
NetIncomeLoss
-31246000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25743000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25743000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24330000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24330000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25384000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25384000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24040000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24040000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.30
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68270000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
45193000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
181210000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
137709000
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
319000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
794000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7088000
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
3058000
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
956000
pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
700000
pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
7062000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3152000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
982000
us-gaap Restructuring And Related Activities Description
RestructuringAndRelatedActivitiesDescription
On February 2, 2021, we restructured our go-to-market organization to strategically align our global sales, product, partner development and marketing teams. As part of the restructuring, we eliminated approximately seven full-time positions within our go-to-market organization, representing about 2% of our workforce. We incurred restructuring charges of $1.7 million for employee termination benefits as well as $50,000 in other associated costs for legal expenses for the year ended December 31, 2021. We substantially completed our restructuring by June 30, 2021
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.02
CY2021Q1 us-gaap Restructuring And Related Activities Completion Date
RestructuringAndRelatedActivitiesCompletionDate
2021-06-30
CY2021 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1721000
CY2021 pi Restructuring Cash Payments
RestructuringCashPayments
-1130000
pi Restructuring Cash Payments
RestructuringCashPayments
-489000
CY2022Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
102000

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