Impinj, Inc.

Impinj, Inc. Earnings Recaps

PI Information Technology 3 recaps
Q1 2026 Apr 30, 2026

Impinj shares surged 22% post-earnings after reporting first quarter revenue and adjusted EBITDA above the guided range, with record endpoint IC bookings and stronger-than-expected endpoint IC demand. Management also raised the outlook for sequential growth into the second quarter, highlighting continued share gains and robust demand drivers.

Key takeaways
  • Q1 revenue was $74.3 million, matching year-ago levels but exceeding the company’s expectations; adjusted EBITDA also surpassed the top end of guidance.
  • Endpoint IC revenue reached $63.2 million (+3% y/y), with bookings at an all-time high, fueled by custom ASIC ramps and customers ordering ahead due to competitor lead times.
  • Systems revenue declined to $11 million (-15% y/y), which fell below expectations due to the timing of large customer CapEx spending, but management expects a sequential rebound.
  • Gross margin was 52.4%, down sequentially and year-over-year, mainly from higher indirect costs and typical annual price declines in endpoint ICs; a margin improvement is anticipated for Q2.
  • Management cited “good product supply” and a healthy channel inventory position entering Q2, with guidance for sequential endpoint IC revenue growth and increased systems sales.
Full recap
Q3 2025 Oct 30, 2025

Impinj reported strong third-quarter results for 2025, with revenue and adjusted EBITDA surpassing expectations, driven by record endpoint IC volumes despite some market headwinds.

Key takeaways
  • Revenue reached $96.1 million, reflecting a slight decline sequentially but a 1% year-over-year increase.
  • Endpoint IC revenue exceeded expectations at $78.8 million, boosted by strong demand in supply chain and logistics.
  • Gen2X product solutions continue to enhance market position, with ongoing development targeting food and e-commerce applications.
  • Conservative ordering is expected to impact fourth-quarter reader revenue, indicating cautious sentiment among partners and end users.
  • Impinj's commitment to expanding technical capabilities is underscored by the recent hiring of an SVP of SaaS and Cloud Services.
Full recap
Q2 2025 Aug 1, 2025

Impinj delivered strong second quarter results, with revenue surpassing the upper end of guidance and adjusted EBITDA reaching a record high, driven by robust demand across multiple product categories.

Key takeaways
  • Revenue exceeded guidance due to accelerated adoption of endpoint and reader ICs, alongside effective response to macroeconomic challenges.
  • Adjusted EBITDA set a new quarterly record, highlighting operational efficiency and strategic product innovation.
  • Continued expansion of Gen2X and M800 technology is expected to propel further sequential revenue growth in the third quarter.
  • Successful deployments at major retailers underscore strong enterprise demand and usage of Impinj's solutions in retail loss analytics and inventory management.
  • Outlook for third quarter indicates sustained momentum with sequential revenue growth anticipated across product categories.
Full recap