What happened Shares of Impinj (NASDAQ: PI) are soaring today, up by 26% as of 11 a.m. EST, after the company announced preliminary fourth-quarter results. Revenue is expected to be significantly better than forecast. So what Impinj said that revenue in the fourth quarter should exceed $36 million, well above its previous outlook of $26.5 million to $28.5 million in sales. The preliminary figure also crushes the consensus estimate of $27.76 million in revenue. Image source: Getty Images. The tech company, which provides radio frequency identification products, did not provide any updates for other parts of its guidance, but can likely now beat its outlook for other metrics due to the strong top-line performance. Impinj's guidance calls for an adjusted net loss of $7.8 million to $9.3 million, or $0.34 to $0.40 per share. Now what On the earnings call in October, management noted that it was taking a conservative approach in its fourth-quarter outlook. Unit volumes for the company's Impinj M700 product were expected to increase sequentially after shipping 100 million units in Q3. CEO Chris Diorio also said that research and development expenses are expected to rise as well due to greater hiring activity. Impinj had a "pretty ambitious hiring plan" that was mostly completed in the third quarter, so the related expenses will show up in Q4. Impinj also said that Diorio and CFO Cary Baker will be participating in the Needham Virtual Growth Conference on Wednesday at 12:30 p.m. EST. 10 stocks we like better than ImpinjWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Impinj wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Impinj. The Motley Fool has a disclosure policy.Source