Impinj (NASDAQ:PI) Releases Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Impinj beat quarterly expectations: EPS came in at $0.69 versus the $0.61 consensus, while revenue reached $112.08 million compared with estimates of $107.16 million.
• Growth remains strong but capacity is constrained: Revenue rose 17% year over year, demand was broad-based, and backlog extends into early 2027; however, post-processing limitations are preventing the company from fully meeting demand and require continued investment.
• Near-term outlook is positive but mixed: Fourth-quarter revenue is projected at $104 million to $107 million, while an enterprise deployment shift will reduce sequential systems revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $185.70.

Impinj (NASDAQ:PI - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.08, FiscalAI reports. Impinj had a negative net margin of 7.26% and a positive return on equity of 5.23%. The company had revenue of $112.08 million for the quarter, compared to analyst estimates of $107.16 million.

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

• Record third-quarter results included $112.1 million in revenue, up 17% year over year, with endpoint IC revenue reaching $97.3 million and product gross margin improving on strong M800 mix.
• Demand remains broad-based across retail, supply chain and logistics, food, and reader ICs, while bookings exceeded shipments and backlog extended into the first quarter of 2027.
• Back-end post-processing capacity remains a constraint, preventing Impinj from fully meeting market demand; the company expects elevated investment and capacity expansion to continue for at least the next two quarters.
• Fourth-quarter revenue is expected to be $104 million to $107 million, up 14% year over year at the midpoint, but systems revenue will decline sequentially because an enterprise deployment shifted into early 2027.
• Software remains in beta and is expected to contribute only modest revenue initially in 2027, but management said customer demand is strong and sees longer-term potential to monetize an integrated platform spanning ICs, readers, gateways, and software.

Impinj Stock Up 1.0%

NASDAQ:PI traded up $1.67 during trading hours on Wednesday, reaching $176.48. The company had a trading volume of 394,391 shares, compared to its average volume of 528,615. The company has a quick ratio of 2.29, a current ratio of 3.28 and a debt-to-equity ratio of 0.80. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of -191.83 and a beta of 1.94. The business's 50-day simple moving average is $175.96 and its two-hundred day simple moving average is $144.77. Impinj has a twelve month low of $87.36 and a twelve month high of $245.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of Impinj in a report on Thursday, July 30th. Wall Street Zen raised Impinj from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Jefferies Financial Group upped their target price on Impinj from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Barclays upped their target price on Impinj from $176.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Finally, Needham & Company LLC lowered their target price on Impinj from $175.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Seven 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $185.70.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 8,892 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $185.00, for a total transaction of $1,645,020.00. Following the transaction, the chief financial officer owned 80,388 shares of the company's stock, valued at $14,871,780. This represents a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Miron Washington sold 800 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $173.26, for a total value of $138,608.00. Following the completion of the sale, the director owned 4,354 shares of the company's stock, valued at approximately $754,374.04. This represents a 15.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,121 shares of company stock valued at $2,047,993. Insiders own 6.80% of the company's stock.

About Impinj

Impinj, Inc NASDAQ: PI develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.

The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.

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