IMPINJ made progress in Q1, reducing its inventory by hundreds of millions of units versus Canaccord's expectations of a reduction of 500 million to 1 billion units of channel inventory, Walkley said in a Tuesday note.
With the improvement in channel inventory and better-than-anticipated Q2 guidance, Walkley said he expects sequential growth in unit shipments in the next two quarters and a return to year-over-year growth in Q4.
