Impinj (NASDAQ:PI) Issues Earnings Results

Impinj (NASDAQ:PI) announced its earnings results on Thursday. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50, FiscalAI reports. Impinj had a negative net margin of 3.00% and a positive return on equity of 8.82%. The company had revenue of $92.85 million for the quarter, compared to analysts’ expectations of $91.87 million. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Impinj updated its Q1 2026 guidance to 0.080-0.130 EPS.

Here are the key takeaways from Impinj’s conference call:

• Q4 revenue was $92.8M (down 3% sequential, +1% YoY) and 2025 revenue was $361.1M, while the company exited the year with record Adjusted EBITDA of $69.6M and record cash, cash equivalents and investments of $279.1M, highlighting strong profitability and liquidity despite a tough year.
• Q1 2026 guidance is weak (revenue $71M–$74M) with Endpoint IC revenue expected to decline high-teens % sequentially due to label supplier reallocations, channel inventory burn-down (roughly $5M per week), a customer product transition to a custom ASIC, and retail under-buying, and Adjusted EBITDA is guided to only $1.2M–$2.7M.
• Impinj has a custom Endpoint IC developed with its second-largest North American logistics customer that is already in production and the customer plans a full switch in 2026; Impinj retains the IP and expects this to deepen customer relationships and drive share within that account.
• Management is doubling down on a solutions strategy and Gen2X (adding an EVP for Enterprise Solutions, licensing EM Micro, and pushing Gen2X as a differentiator), which they expect to drive future Endpoint IC, reader/reader IC growth and meaningful software revenue as apparel, general merchandise SKU adoption and food rollouts accelerate.

Impinj Stock Performance

Impinj stock opened at $116.04 on Friday. The stock has a fifty day moving average price of $167.15 and a 200 day moving average price of $173.45. Impinj has a 52 week low of $60.85 and a 52 week high of $247.06. The firm has a market capitalization of $3.49 billion, a P/E ratio of -297.53 and a beta of 1.56. The company has a current ratio of 2.67, a quick ratio of 1.97 and a debt-to-equity ratio of 0.94.

Insider Buying and Selling

In other news, insider Sylebra Capital Llc sold 134,629 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $150.36, for a total transaction of $20,242,816.44. Following the completion of the transaction, the insider owned 1,132,152 shares of the company’s stock, valued at $170,230,374.72. This represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 666,192 shares of company stock valued at $105,288,457. 12.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in shares of Impinj by 39.9% in the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Impinj by 10.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 279,209 shares of the company’s stock valued at $25,324,000 after purchasing an additional 26,388 shares in the last quarter. Focus Partners Wealth purchased a new position in Impinj in the first quarter valued at about $223,000. Intech Investment Management LLC raised its position in Impinj by 29.6% in the first quarter. Intech Investment Management LLC now owns 16,708 shares of the company’s stock valued at $1,515,000 after purchasing an additional 3,812 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Impinj during the second quarter worth about $3,833,000.

Wall Street Analyst Weigh In

A number of analysts have commented on PI shares. Barclays cut their price objective on shares of Impinj from $211.00 to $175.00 and set an “overweight” rating for the company in a report on Friday. Zacks Research lowered Impinj from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Evercore reiterated an “in-line” rating and set a $112.00 price objective (down previously from $273.00) on shares of Impinj in a research report on Friday. Wall Street Zen lowered Impinj from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, UBS Group set a $155.00 target price on Impinj in a report on Friday. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Impinj has a consensus rating of “Hold” and an average target price of $166.56.

More Impinj News

Here are the key news stories impacting Impinj this week:

• Positive Sentiment: Q4 results were roughly in line: GAAP EPS of $0.50 matched consensus and revenue of ~$92.9M slightly beat estimates — evidence the core business remains profitable and growing modestly. Impinj Reports Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: Analysts still see upside despite cuts: Needham kept a buy rating (PT lowered to $175) and Piper Sandler maintained a mixed rating (PT lowered to $180), indicating some investors/analysts view the pullback as a buying opportunity. Needham price target note
• Neutral Sentiment: Longer‑term demand drivers remain: analysts and company commentary point to ongoing retail RFID mandates and secular adoption that support multi‑year growth, but these are balanced by short‑term execution risks. Retail mandates fuel RFID push
• Negative Sentiment: Q1 2026 revenue guidance came in at $71M–$74M versus Street estimates near $89.7M — a big short‑term miss that is the primary driver of the selloff. Impinj outlines Q1 2026 revenue target
• Negative Sentiment: Management flagged an inventory transition and the rollout of custom chips that will depress near‑term shipments and cash flow (inventory “burn” and muted guidance highlighted in analyst/deep‑dive pieces). PI Q4 Deep Dive: Inventory Burn, Custom Chips, and Muted Guidance
• Negative Sentiment: Immediate market reaction was severe: multiple outlets report a sharp intraday drop and elevated volume as investors reprice the company around the weaker near‑term outlook; several firms cut price targets. Impinj Stock Falls on 4Q Earnings Miss

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).