📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding PI

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	289.1K	$29.7M	0.04%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used language like 'strong results', 'exceeded the upper end of our guide range', 'record adjusted EBITDA' and provided specific sequential growth percentages, but also acknowledged headwinds from tariffs, inflation, and supply chain disruptions, indicating a confident yet realistic tone.

Q3 2025

Confident Specific

Management emphasized strong results exceeding guidance, record endpoint IC volumes and product revenue, and market leadership despite headwinds; language like 'strong', 'record', 'exceeded the upper end', 'highlighting our strong market position' conveys confidence.

Q4 2025

Mixed

The tone balances caution about Q1 headwinds ('2025 was a tough year', 'confluence of order timing, ongoing retailer inventory burn down, product transitions') with confidence in recovery ('we see conditions improving', 'growth returning'). Management uses phrases like 'we see apparel normalizing as soon as Q2' and 'exited the year with record Adjusted EBITDA and cash' to strike a cautiously optimistic note.

Q1 2026 latest

Confident Specific

Management used terms like 'solid', 'record', 'exceeding', and 'confident' while providing specific numbers and share gains. However, they also hedged with 'prudently hedging' and 'macro uncertainty'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call, driven by record endpoint IC bookings, 1,700 bps market share gain, and a strong custom ASIC ramp that provides both near-term revenue visibility and a platform to pull through additional upstream accounts. Retail apparel is rebuying, and new programs in general merchandise and food (including grocery self-checkout pilots) offer incremental growth. However, management's prudent stance on the second half, citing macro uncertainty, tempers unbridled optimism. Key watch items for next quarter: actual Q2 revenue delivery versus guidance, gross margin trajectory (especially product margin ex license revenue), progress on the European grocer store pilot, and whether consumer demand holds amid tariffs.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Q1 rev $74.3M, record endpoint IC bookings, custom ASIC ramp, cautious H2 outlook

Revenue & Profitability

Q1 2026 revenue was $74.3 million, down 20% sequentially and flat year-over-year. Endpoint IC revenue rose 3% YoY to $63.2 million. Adjusted EBITDA was $3.4 million; GAAP net loss was $25.3 million; non-GAAP net income was $4.4 million ($0.14 per share). For Q2 2026, guidance calls for revenue of $103-106 million and adjusted EBITDA of $27.8-29.3 million, with non-GAAP EPS of $0.77-0.82.

Outlook

Management is approaching the second half of 2026 prudently, hedging against multiple macro scenarios. They see strong underlying demand from retail rebound, custom ASIC ramp, and new programs. Renewed tariff certainty is helping. However, macro uncertainty (e.g., consumer demand) could impact results. The company feels good about 2026 if the macro holds.

Growth Drivers

Key growth drivers include: (1) the custom ASIC for supply chain and logistics (volumes more than double in Q2, full conversion by year-end), (2) retail apparel with multiple new end users (e.g., a large European brand), (3) general merchandise in cosmetics, personal care, and health, and (4) food, with a bakery rollout doubling stores and a European grocer self-checkout pilot progressing.

Balance Sheet & CapEx

Q1 2026 capital expenditures were $1.7 million. The company is investing in its product lines, expanding software and solutions teams, and upgrading its flagship reader to support machine learning at the edge. No specific CapEx guidance for future quarters was provided.

Margins

Q1 2026 product gross margin was 52.4%, down sequentially from 54.5% due to higher indirect costs, annual endpoint IC price declines, and a 100 bps impact from a back-end capacity issue (now fixed). Q2 product gross margin is expected to increase sequentially, driven by recovery of the 100 bps, the M800 ramp, higher revenue scale, and increased systems revenue. Operating expense was $35.5 million, expected to remain similar in Q2.

Key Risks

Management flagged macro uncertainty and potential impacts on consumer demand. Other risks include tariff whipsaws (now subsided), dependence on the custom ASIC ramp, and competitive actions (e.g., NXP's new IC potentially designing around Impinj IP). The company is hedging against multiple macro scenarios in its second-half outlook.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Record Q2 revenue, adjusted EBITDA, and EPS were driven by strong demand across multiple verticals, with Endpoint IC bookings at all-time highs and improved channel visibility. Q3 guidance calls for continued sequential growth and margin expansion, supported by robust market conditions and new solution initiatives.

Q1 2026 Q1 2026 2026-04-29

Q1 2026 revenue and Adjusted EBITDA exceeded guidance, driven by record endpoint IC bookings and strong market share gains. Sequential growth is expected in Q2, with robust demand across supply chain, retail, and food, while macro uncertainty prompts a prudent outlook.

Q4 2025 Q4 2025 2026-02-05

2025 saw modest revenue declines amid industry headwinds, but record Adjusted EBITDA and cash. A custom IC for a major logistics customer and a solutions-focused strategy are expected to drive growth and market share in 2026, despite near-term inventory corrections.

Q3 2025 Q3 2025 2025-10-29

Q3 revenue and adjusted EBITDA exceeded guidance, driven by record endpoint IC and strong reader volumes, though Q4 is expected to decline slightly due to project timing and seasonality. Food and e-commerce are emerging as major growth opportunities, with continued investment in software and innovation.

Q2 2025 Q2 2025 2025-07-30

Revenue and adjusted EBITDA exceeded guidance, with strong sequential growth in Endpoint ICs and systems. Gross margin set a new record, driven by M800 mix and licensing, while guidance calls for continued margin and revenue growth amid ongoing tariff and macro uncertainties.

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