What happened

Shares of Impinj (NASDAQ:PI) gained 26.5% in July, according to data from S&P Global Market Intelligence. The stock gained ground amid momentum for the broader market and excitement surrounding the prospect that the company could be successful in its patent-infringement suit against NXP Semiconductors.

PI Chart

PI data by YCharts.

Impinj published a press release on June 6, detailing its contention that 26 of its radio-frequency identification (RFID) patents had been used in products from NXP without proper licensing. The stock also saw a spike following the company's second-quarter earnings release, but much of the post-earnings gains receded by the month's close.

An Impinj RAIN RFID chip.

Image source: Impinj.

So what

Impinj reported second-quarter earnings results on July 29. Revenue for the period came in at $38.2 million, representing growth of 34% year over year and topping the average analyst estimate's call for sales of $35 million. The company posted a non-GAAP (adjusted) net income of $0.8 million -- working out to earnings of $0.03 per share and topping the average analyst target for a per-share loss of $0.09.

Now what

Impinj stock has managed to rise above volatility for the broader market and continue climbing in August. Shares are up roughly 3.5% in the month so far -- a notable performance because global markets have been pressured by another turn for the worse in trade relations between the U.S. and because China is Impinj's largest market and core manufacturing base.

PI Chart

PI data by YCharts.

For the third quarter, the company's revenue guidance calls for sales between $37 million and $39 million and its net income target ranges from a per-share loss of $0.04 to per-share earnings of $0.03.