Impinj (NASDAQ:PI) Posts Quarterly Earnings Results, Meets Estimates

Impinj (NASDAQ:PI) released its earnings results on Thursday. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50, FiscalAI reports. The company had revenue of $92.85 million during the quarter, compared to analysts’ expectations of $91.87 million. Impinj had a positive return on equity of 8.15% and a negative net margin of 3.45%.The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. 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

NASDAQ:PI traded down $34.78 on Friday, hitting $119.05. The stock had a trading volume of 1,519,213 shares, compared to its average volume of 729,618. The business’s 50-day simple moving average is $168.27 and its two-hundred day simple moving average is $173.45. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -272.06 and a beta of 1.56. Impinj has a 52-week low of $60.85 and a 52-week high of $247.06. The company has a quick ratio of 1.97, a current ratio of 2.67 and a debt-to-equity ratio of 0.94.

Insider Activity

In related news, insider Sylebra Capital Llc sold 134,629 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 1,132,152 shares in the company, valued at approximately $170,230,374.72. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 666,192 shares of company stock valued at $105,288,457 over the last quarter. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its stake in Impinj by 39.9% during the 1st quarter. Advisors Asset Management Inc. now owns 491 shares of the company’s stock valued at $45,000 after purchasing an additional 140 shares during the period. Kelleher Financial Advisors bought a new stake in shares of Impinj during the third quarter valued at approximately $66,000. Advisory Services Network LLC purchased a new position in shares of Impinj in the third quarter worth $129,000. Focus Partners Wealth purchased a new position in shares of Impinj in the first quarter worth $223,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Impinj during the third quarter worth $226,000.

Impinj News Summary

Here are the key news stories impacting Impinj this week:

• Positive Sentiment: Q4 results: EPS of $0.50 met consensus and revenue of $92.85M was roughly in line with expectations, showing modest year‑over‑year growth and demonstrating near‑term operating stability. Impinj Reports Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: EPS guidance: Management gave Q1 EPS guidance of $0.08–$0.13, which is above the prior consensus estimate, indicating the company expects to remain profitable on a per‑share basis in Q1. Impinj Reports Fourth Quarter and Full Year 2025 Financial Results
• Neutral Sentiment: Earnings materials: The company published its Q4 earnings presentation and call transcript for investors to review management’s commentary and slides. These provide context on product roadmaps and inventory plans but don’t change the headline guidance miss. Q4 Results — Earnings Call Presentation
• Negative Sentiment: Revenue guidance miss: Management set Q1 revenue at $71M–$74M versus ~ $89.7M consensus — a material shortfall that investors interpreted as a sign of near‑term demand weakness. This is the primary driver of the stock’s decline. Impinj outlines Q1 2026 revenue target of $71M–$74M
• Negative Sentiment: Operational headwinds: Management pointed to an inventory transition and a customer‑specific chip rollout that are creating short‑term disruption to shipments and demand, increasing uncertainty about near‑term growth. Impinj shares slide as company projects rough Q1
• Negative Sentiment: Analyst reactions: Several firms cut price targets (Needham lowered to $175; Piper Sandler lowered to $180) and coverage notes followed the revenue miss — adding downward pressure on sentiment. Needham lowers price target Piper Sandler reaffirms overweight, cuts target
• Negative Sentiment: Market reaction: Media and market outlets reported a sharp share selloff and elevated volume as investors reacted to the guidance miss; near‑term technicals and sentiment are negative. Impinj shares plummet as weak Q1 guidance shocks investors

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PI. Susquehanna reissued a “positive” rating and set a $200.00 price target on shares of Impinj in a research report on Friday. Needham & Company LLC reduced their price objective on Impinj from $255.00 to $175.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (down from $230.00) on shares of Impinj in a report on Friday. Wall Street Zen cut Impinj from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Barclays dropped their price objective on Impinj from $211.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.38.

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).