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Impinj Inc. (NASDAQ: PI) has registered an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a secondary offering. The company has not released any pricing details in regards to its offering, other than it is valued up to $75 million.

The underwriters for the offering are Morgan Stanley, RBC Capital Markets, Pacific Crest Securities, Piper Jaffray, Needham and Canaccord Genuity.

The company’s vision is digital life for everyday items. Its mission is to provide wireless connectivity for these everyday items and to deliver, to the digital world, each item’s unique identity, location and authenticity. Finally, its platform connects billions of everyday items such as apparel, medical supplies, automobile parts, drivers licenses, food and luggage to applications such as inventory management, patient safety, asset tracking and item authentication, delivering real-time information to businesses about items they create, manage, transport and sell. Impinj believes connecting everyday items and delivering real-time information about them is the essence of the Internet of Things.

In the filing, the company detailed:

We believe we are the only company selling a platform spanning endpoints, connectivity and software. In 2015, we had leading market share with 65% and 61% of the tag and reader IC unit volume, respectively, based on our calculations derived from research conducted by IDTechEx, an information-technology research firm. We believe we continue to have leading market share in the tag IC and reader IC markets. We estimate we enable approximately 70% unit volume of the stationary reader market inclusive of our readers and readers powered by our reader ICs. We also believe the majority of handheld readers use our reader ICs.

In terms of its finances, the company reported total revenues of $63.8 million and $78.5 million for 2014 and 2015, respectively, and $55.9 million and $78.6 million for the nine months ended September 30, 2015, and 2016, respectively. Impinj incurred losses since its inception in 2000 until it first became profitable in 2013. Net income was $297,000 and $900,000 for 2014 and 2015, respectively, and net income was $82,000 and the net loss was $1.8 million for the nine months ended September 30, 2015, and 2016, respectively. Adjusted EBITDA was $4.9 million and $4.8 million for 2014 and 2015, respectively, and $3.2 million and $2.7 million for the nine months ended September 30, 2015, and 2016, respectively.

The company intends to use the net proceeds from this offering for working capital and other general corporate purposes.

Shares of Impinj traded on Friday at $31.75, with a consensus analyst price target of $34.60 and a 52-week trading range of $16.36 to $38.43.