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Impinj, Inc.

Impinj, Inc.

NASDAQ•PI
CEO: Dr. Chris Diorio Ph.D.
Sector: Technology
Industry: Communication Equipment
Listing Date: 2016-07-21
Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item. Its platform also consists of systems products that consists of reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software and algorithms that enable its partners to solve enterprise business problems, such as retail self-checkout and loss prevention. The company primarily serves retail, supply chain and logistics, automotive, aviation, banking, datacenters, food, healthcare, industrial and manufacturing, linen and uniform tracking, sports, and travel industries through original equipment and device manufacturers, tag service bureaus, systems integrators, value-added resellers, independent software vendors, and other solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.
Contact Information
400 Fairview Avenue North, Suite 1200, Seattle, WA, 98109, United States
206-517-5300
www.impinj.com
Market Cap
$4.19B
P/E (TTM)
-343.8
45.1
Dividend Yield
--
52W High
$247.06
52W Low
$60.85
52W Range
45%
Rank69Top 93.9%
1.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 1.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$96.06M+0.90%
4-Quarter Trend

EPS

-$0.44-5741.03%
4-Quarter Trend

FCF

$17.95M+285.51%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Operating Profit Operating income reached $2.0M versus $(3.5M) loss prior period, driven by revenue mix and expense control.
Gross Margin Improvement Nine month gross margin rose 80 basis points to 52.8% due to lower indirect costs compared to prior year.
Revenue Mix Shift Total revenue declined 2.3% to $268.23M for nine months; systems revenue growth offset lower Endpoint IC sales.
New Convertible Notes Issued $190.0M aggregate principal 2025 Convertible Senior Notes in September 2025 to facilitate debt exchange.

Risk Factors

Intense Market Competition Primary competitors possess greater financial, R&D, and marketing resources, potentially leading to lower margins or share loss.
Uncertain RAIN Adoption Pace Pace of RAIN adoption in key markets like retail and SC&L remains uneven, creating difficulty forecasting operating results.
Product Quality Failures Poor product quality could cause significant costs, loss of market share, damage brand reputation, and increase warranty expenses.
Debt Obligations Restrict Flexibility Obligations under $97.5M (2021 Notes) and $190.0M (2025 Notes) may restrict future capital deployment and operations.

Outlook

Enterprise Solution Scaling Nascent Ability to deliver enterprise solutions at scale is early stage; success depends on developing top-tier partner relationships.
Intellectual Property Enforcement Must maintain and enforce valuable RAIN intellectual property rights globally, facing high costs for monitoring and litigation.
Sufficient Liquidity Position Existing cash, cash equivalents, and short-term investments of $190.1M are expected to meet cash needs for 12 months.
Focus on Product Innovation Commit significant resources to introduce new products and enhance existing offerings to maintain competitive advantage.

Peer Comparison

Revenue (TTM)

Arrow Electronics, Inc.ARW
$29.39B
+3.2%
Viasat, Inc.VSAT
$4.58B
+1.2%
Vontier CorporationVNT
$3.04B
+1.8%

Gross Margin (Latest Quarter)

Viasat, Inc.VSAT
54.9%
+23.9pp
Impinj, Inc.PI
50.3%
+0.3pp
Vontier CorporationVNT
47.3%
+0.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
TTMI$7.59B56.78.1%2.4%
SMTC$6.23B265.64.1%34.9%
ARW$5.85B12.37.8%12.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.6%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$0.50
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $96.06M+0.9%
    |
    EPS: $-0.44-5741.0%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 30, 2025|
    Revenue: $97.89M-4.5%
    |
    EPS: $0.40+11.1%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 23, 2025|
    Revenue: $74.28M-3.3%
    |
    EPS: $-0.30-124.6%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 10, 2025|
    Revenue: $366.09M+19.0%
    |
    EPS: $1.46+190.1%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 23, 2024|
    Revenue: $95.20M+46.4%
    |
    EPS: $0.01-101.3%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 24, 2024|
    Revenue: $102.50M+19.2%
    |
    EPS: $0.36-220.0%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 24, 2024|
    Revenue: $76.83M-10.6%
    |
    EPS: $1.22-817.6%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 12, 2024|
    Revenue: $307.54M+19.3%
    |
    EPS: $-1.62-70.5%
    Miss