Impinj (PI) Financials

$151.33 -3.80 (-2.45%)

Closing price 04:00 PM Eastern

Extended Trading

$151.35 +0.02 (+0.02%)

As of 07:41 PM Eastern

Annual Income Statements for Impinj

This table shows Impinj's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-10	-7.93	-17	-35	-23	-52	-51	-24	-43	41	-11
Consolidated Net Income / (Loss)	0.90	-1.67	-17	-35	-23	-52	-51	-24	-43	41	-11
Net Income / (Loss) Continuing Operations	0.90	-1.67	-17	-35	-23	-52	-51	-24	-43	41	-11
Total Pre-Tax Income	1.07	-1.51	-17	-35	-23	-52	-51	-24	-44	41	-11
Total Operating Income	1.60	-0.49	-17	-35	-22	-47	-37	-19	-43	-7.07	-0.74
Total Gross Profit	41	59	65	58	74	65	99	138	152	189	190
Total Revenue	78	112	125	123	153	139	190	258	308	366	361
Operating Revenue	78	112	125	123	153	139	190	258	308	366	361
Total Cost of Revenue	38	53	60	64	79	74	91	120	156	177	171
Operating Cost of Revenue	38	53	60	64	79	74	91	120	156	177	171
Total Operating Expenses	39	60	82	93	96	112	136	157	195	196	190
Selling, General & Admin Expense	7.09	12	18	22	24	35	36	45	61	52	49
Marketing Expense	15	22	32	33	33	29	34	38	41	41	37
Research & Development Expense	18	25	32	34	39	49	64	74	89	99	103
Amortization Expense	-	-	-	-	-	-	0.00	0.00	4.95	2.90	2.08
Restructuring Charge	-	-	-	3.75	0.00	0.00	1.72	-0.10	0.00	1.81	0.00
Other Special Charges / (Income)	-	-	-	-	-	-	-	0.00	0.00	-	0.00
Total Other Income / (Expense), net	-0.54	-1.02	-0.40	-0.60	-1.13	-4.76	-14	-4.64	-0.20	48	-10
Interest Expense	1.21	1.63	0.91	1.40	2.37	5.41	14	7.16	4.85	4.87	19
Other Income / (Expense), net	-	0.62	0.51	0.81	1.24	0.65	0.03	2.52	4.64	53	9.21
Income Tax Expense	0.17	0.17	-0.10	-0.23	0.20	0.09	0.15	0.18	-0.32	0.16	-0.07
Basic Earnings per Share	($2.67)	($0.74)	($0.84)	($1.65)	($1.05)	($2.28)	($2.12)	($0.95)	($1.62)	$1.46	($0.37)
Weighted Average Basic Shares Outstanding	3.89M	10.78M	20.68M	21.33M	21.85M	22.82M	24.18M	25.54M	26.75M	27.95M	29.28M
Diluted Earnings per Share	($2.67)	($0.74)	($0.84)	($1.65)	($1.05)	($2.28)	($2.12)	($0.95)	($1.62)	$1.39	($0.37)
Weighted Average Diluted Shares Outstanding	3.89M	10.78M	20.68M	21.33M	21.85M	22.82M	24.18M	25.54M	26.75M	29.47M	29.28M
Weighted Average Basic & Diluted Shares Outstanding	3.89M	10.78M	20.68M	21.33M	21.85M	22.82M	24.18M	26.16M	27.20M	28.54M	30.23M

This table shows Impinj's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-16	-15	33	9.96	0.22	-2.69	-8.45	12	-13	-1.14	-25
Consolidated Net Income / (Loss)	-16	-15	33	9.96	0.22	-2.69	-8.45	12	-13	-1.14	-25
Net Income / (Loss) Continuing Operations	-16	-15	33	9.96	0.22	-2.69	-8.45	12	-13	-1.14	-25
Total Pre-Tax Income	-16	-15	33	9.95	0.43	-2.73	-8.73	12	-13	-0.99	-25
Total Operating Income	-16	-15	-12	9.05	-0.77	-3.61	-9.57	11	0.66	-2.70	-15
Total Gross Profit	31	34	38	58	48	46	37	57	48	48	36
Total Revenue	65	71	77	102	95	92	74	98	96	93	74
Operating Revenue	65	71	77	102	95	92	74	98	96	93	74
Total Cost of Revenue	34	37	39	45	48	45	38	41	48	45	38
Operating Cost of Revenue	34	37	39	45	48	45	38	41	48	45	38
Total Operating Expenses	47	49	49	48	48	50	46	46	48	51	52
Selling, General & Admin Expense	14	16	13	13	12	13	12	12	12	13	13
Marketing Expense	10	10	10	9.83	9.89	11	8.06	8.74	9.38	10	9.76
Research & Development Expense	22	21	23	25	25	26	25	25	26	27	29
Amortization Expense	1.41	1.40	1.41	0.50	0.51	0.49	0.49	0.52	0.54	0.53	0.54
Restructuring Charge	0.00	-	1.81	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Other Special Charges / (Income)	0.00	-	-	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Other Income / (Expense), net	-0.12	-0.19	45	0.91	1.20	0.89	0.84	0.83	-14	1.71	-10
Interest Expense	1.21	1.22	1.22	1.22	1.22	1.22	1.22	1.23	16	0.80	13
Other Income / (Expense), net	1.09	1.02	46	2.12	2.42	2.11	2.06	2.05	2.59	2.51	2.67
Income Tax Expense	-0.20	0.15	-0.00	-0.01	0.21	-0.04	-0.28	0.15	-0.09	0.15	0.05
Basic Earnings per Share	($0.59)	($0.56)	$1.22	$0.36	$0.01	($0.13)	($0.30)	$0.40	($0.44)	($0.03)	($0.83)
Weighted Average Basic Shares Outstanding	26.92M	26.75M	27.36M	27.89M	28.17M	27.95M	28.64M	29.01M	29.34M	29.28M	30.29M
Diluted Earnings per Share	($0.59)	($0.56)	$1.10	$0.34	$0.01	($0.06)	($0.30)	$0.39	($0.44)	($0.02)	($0.83)
Weighted Average Diluted Shares Outstanding	26.92M	26.75M	31.43M	29.42M	29.73M	29.47M	28.64M	29.66M	29.34M	29.28M	30.29M
Weighted Average Basic & Diluted Shares Outstanding	27.06M	27.20M	27.71M	28.12M	28.29M	28.54M	28.98M	29.09M	30.11M	30.23M	30.46M

This table details how cash moves in and out of Impinj's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	3.18	24	-14	-1.76	49	-43	100	-104	75	-49	2.15
Net Cash From Operating Activities	3.46	-9.50	-36	-12	4.71	-17	6.47	0.64	-49	128	59
Net Cash From Continuing Operating Activities	3.46	-9.50	-36	-12	4.71	-17	6.47	0.65	-49	128	59
Net Income / (Loss) Continuing Operations	0.90	-1.67	-17	-35	-23	-52	-51	-24	-43	41	-11
Consolidated Net Income / (Loss)	0.90	-1.67	-17	-35	-23	-52	-51	-24	-43	41	-11
Depreciation Expense	1.97	2.87	3.95	4.53	4.81	4.50	4.60	6.04	14	14	15
Amortization Expense	0.15	0.27	0.17	-0.34	-0.30	3.90	1.46	1.37	-0.03	0.52	-0.54
Non-Cash Adjustments To Reconcile Net Income	0.48	2.21	7.43	11	21	28	54	48	51	59	73
Changes in Operating Assets and Liabilities, net	-0.04	-13	-30	8.40	1.97	-1.78	-2.50	-31	-70	14	-18
Net Cash From Investing Activities	-7.45	-71	21	-5.67	-13	-36	-19	-103	116	-193	-48
Net Cash From Continuing Investing Activities	-7.45	-71	21	-5.67	-13	-36	-19	-103	116	-193	-48
Purchase of Property, Plant & Equipment	-7.45	-3.53	-6.55	-6.37	-2.43	-3.07	-16	-12	-19	-17	-13
Acquisitions	-	-	-	-	-	-	0.00	0.00	-24	0.00	0.00
Purchase of Investments	-	-67	-49	-52	-72	-83	-84	-206	0.00	-202	-203
Sale of Property, Plant & Equipment	-	-	-	-	-	0.00	0.00	0.28	0.23	0.00	0.00
Sale and/or Maturity of Investments	-	-	77	52	62	50	82	115	158	27	168
Net Cash From Financing Activities	7.18	104	0.14	16	58	9.90	112	-2.15	8.74	16	-8.93
Net Cash From Continuing Financing Activities	7.18	104	0.14	16	58	9.90	112	-2.15	8.74	16	-8.93
Repayment of Debt	-6.94	-67	-2.77	-2.45	-28	0.00	-184	-18	0.00	0.00	-190
Issuance of Debt	14	61	-	16	87	0.00	278	-	0.00	0.00	184
Other Financing Activities, net	0.22	0.66	2.91	1.79	-1.52	9.90	18	15	8.74	16	-2.59
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	-	-	-	0.35
Cash Interest Paid	0.97	1.50	0.81	1.18	1.61	1.72	1.56	3.42	3.23	3.23	2.84

This table details how cash moves in and out of Impinj's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	33	17	72	48	-141	-28	15	-19	9.31	-3.52	-16
Net Cash From Operating Activities	-1.71	1.43	60	45	10	13	-11	34	21	15	3.98
Net Cash From Continuing Operating Activities	-1.71	1.43	60	45	10	13	-11	34	21	15	3.98
Net Income / (Loss) Continuing Operations	-16	-15	33	9.96	0.22	-2.69	-8.45	12	-13	-1.14	-25
Consolidated Net Income / (Loss)	-16	-15	33	9.96	0.22	-2.69	-8.45	12	-13	-1.14	-25
Depreciation Expense	3.67	3.89	3.91	3.00	3.25	3.43	3.52	3.71	3.85	3.96	3.85
Amortization Expense	0.09	0.37	0.34	0.37	0.27	-0.46	-0.18	-0.11	-0.30	0.04	0.33
Non-Cash Adjustments To Reconcile Net Income	13	13	13	15	15	16	13	14	30	16	27
Changes in Operating Assets and Liabilities, net	-2.67	-0.58	9.78	17	-9.14	-3.51	-19	5.01	-0.11	-3.39	-1.95
Net Cash From Investing Activities	32	14	5.05	0.42	-154	-44	21	-53	2.47	-19	26
Net Cash From Continuing Investing Activities	32	14	5.05	0.42	-154	-44	21	-53	2.47	-19	26
Purchase of Property, Plant & Equipment	-2.77	-2.62	-6.20	-1.37	-5.41	-4.13	-1.86	-6.54	-2.94	-1.52	-1.75
Purchase of Investments	-	-	0.00	-	-154	-48	-26	-81	-39	-56	-21
Sale and/or Maturity of Investments	35	17	11	1.79	5.57	8.00	49	35	45	39	49
Net Cash From Financing Activities	2.14	0.85	6.92	1.93	3.05	3.78	5.06	-0.10	-14	0.15	-46
Net Cash From Continuing Financing Activities	2.14	0.85	6.92	1.93	3.05	3.78	5.06	-0.10	-14	0.15	-46
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-	-47
Other Financing Activities, net	2.14	0.85	6.92	1.93	3.05	3.78	5.06	-0.10	-7.70	0.15	1.46
Cash Interest Paid	-	1.62	-	1.62	-	1.62	0.00	-	0.67	0.55	0.15

This table presents Impinj's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	53	168	152	145	215	208	316	350	359	489	545
Total Current Assets	36	149	130	121	177	171	256	275	270	326	339
Cash & Equivalents	10	34	19	18	67	24	124	20	95	46	48
Short-Term Investments	-	67	39	39	50	82	69	154	18	119	127
Accounts Receivable	13	17	22	18	24	25	35	50	55	57	71
Inventories, net	12	28	47	45	34	36	22	46	97	99	85
Prepaid Expenses	1.10	3.00	2.36	1.95	2.39	3.94	5.05	5.03	4.37	5.54	8.14
Plant, Property, & Equipment, net	12	15	18	20	17	17	28	39	45	51	50
Total Noncurrent Assets	4.56	3.88	4.12	4.08	21	20	32	36	45	112	156
Long-Term Investments	-	-	-	-	-	-	14	19	0.00	75	104
Goodwill	3.88	3.88	3.88	3.88	3.88	3.88	3.88	3.88	20	19	21
Intangible Assets	0.04	-	-	-	-	-	-	0.00	14	10	9.50
Other Noncurrent Operating Assets	0.64	-	0.24	0.20	17	16	14	12	11	8.19	22
Total Liabilities & Shareholders' Equity	53	168	152	145	215	208	316	350	359	489	545
Total Liabilities	40	44	33	47	90	98	327	334	325	339	336
Total Current Liabilities	17	25	20	23	19	28	36	42	31	331	127
Short-Term Debt	6.42	3.72	5.02	5.93	-	0.00	9.63	0.00	0.00	283	97
Accounts Payable	3.18	7.17	4.67	4.64	5.60	10	12	25	8.66	17	14
Accrued Expenses	2.90	6.10	3.16	2.89	4.11	1.47	3.07	2.93	8.61	2.68	3.66
Current Deferred Revenue	0.94	0.75	1.34	1.05	0.55	6.81	0.56	2.25	1.71	1.85	1.79
Current Employee Benefit Liabilities	4.04	7.65	5.73	7.41	5.86	5.53	6.37	9.05	8.52	22	9.94
Other Current Liabilities	-	-	-	1.11	3.38	3.64	4.14	3.12	3.37	3.59	0.78
Total Noncurrent Liabilities	22	18	13	24	70	71	291	292	294	8.04	209
Long-Term Debt	11	9.68	5.50	18	51	55	279	280	282	0.00	184
Noncurrent Deferred Revenue	5.69	5.99	6.39	5.48	0.21	0.28	0.24	0.35	0.27	0.12	0.69
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	0.12	2.91	2.20	2.06
Other Noncurrent Operating Liabilities	3.54	0.77	0.53	0.56	19	16	12	11	9.36	5.72	23
Commitments & Contingencies	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-85	124	119	98	125	109	-11	16	34	150	209
Total Preferred & Common Equity	-85	124	119	98	125	109	-11	16	34	150	209
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-85	124	119	98	125	109	-11	16	34	150	209
Common Stock	100	311	324	338	388	424	351	404	464	541	607
Retained Earnings	-185	-187	-205	-240	-263	-315	-362	-387	-430	-389	-400
Accumulated Other Comprehensive Income / (Loss)	-	-0.01	-0.04	-0.01	0.03	0.00	-0.04	-1.25	0.36	-1.94	2.51

This table presents Impinj's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	328	373	384	364	414	446	476	480	509	516	503
Total Current Assets	260	305	284	273	324	358	329	309	350	352	299
Cash & Equivalents	39	37	45	78	167	215	74	61	42	52	32
Short-Term Investments	143	117	64	35	7.29	5.56	97	87	151	138	100
Accounts Receivable	41	61	59	48	59	54	64	57	55	61	72
Inventories, net	32	86	112	107	88	81	88	98	96	93	86
Prepaid Expenses	5.51	3.84	3.46	4.45	3.12	3.15	6.10	5.07	5.22	7.87	8.55
Plant, Property, & Equipment, net	31	42	45	45	47	47	50	50	53	52	50
Total Noncurrent Assets	37	26	55	46	42	41	97	122	106	112	154
Long-Term Investments	19	10	6.00	0.00	0.00	0.00	57	85	67	75	103
Goodwill	3.88	3.88	20	19	19	19	20	19	21	21	20
Intangible Assets	-	-	17	15	12	12	12	10	11	10	8.82
Other Noncurrent Operating Assets	14	12	13	12	10	9.66	8.93	7.45	7.37	6.55	21
Total Liabilities & Shareholders' Equity	328	373	384	364	414	446	476	480	509	516	503
Total Liabilities	326	346	347	329	328	329	340	319	321	321	299
Total Current Liabilities	34	55	51	34	34	319	331	28	30	132	33
Short-Term Debt	0.00	-	-	-	-	283	283	0.00	0.00	97	0.00
Accounts Payable	13	37	28	11	9.42	15	21	11	12	16	15
Accrued Expenses	6.08	7.38	9.68	9.31	12	2.85	3.70	3.08	2.69	3.34	3.35
Current Deferred Revenue	2.81	0.50	2.52	2.43	1.67	2.09	2.23	1.63	2.29	2.22	1.36
Current Employee Benefit Liabilities	7.94	7.04	7.75	7.70	8.21	13	18	8.95	9.27	9.53	11
Other Current Liabilities	3.56	2.97	3.30	3.31	3.45	3.46	3.53	3.67	3.82	3.93	1.52
Total Noncurrent Liabilities	292	291	296	295	294	10	9.25	291	291	190	266
Long-Term Debt	280	281	281	281	282	0.00	0.00	284	284	184	241
Noncurrent Deferred Revenue	0.34	0.32	0.34	0.33	0.24	0.18	0.14	0.22	0.22	0.54	0.64
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	3.42	3.06	2.57	2.47	2.45	2.19	2.27	2.16	1.93
Other Noncurrent Operating Liabilities	12	10	11	10	8.44	7.55	6.66	4.78	4.26	3.24	22
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2.06	27	37	35	86	117	136	161	188	195	204
Total Preferred & Common Equity	2.06	27	37	35	86	117	136	161	188	195	204
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2.06	27	37	35	86	117	136	161	188	195	204
Common Stock	390	418	436	451	483	504	522	559	572	592	628
Retained Earnings	-387	-391	-399	-415	-397	-387	-387	-398	-386	-399	-425
Accumulated Other Comprehensive Income / (Loss)	-1.73	-0.61	-0.33	-1.00	-0.27	-0.42	0.59	-0.37	2.27	2.42	1.46

This table displays calculated financial ratios and metrics derived from Impinj's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.08%	43.08%	11.59%	-2.13%	24.63%	-9.10%	36.97%	35.48%	19.29%	19.04%	-1.37%
EBITDA Growth	85.88%	-12.30%	-479.43%	-140.97%	46.74%	-138.93%	18.03%	69.35%	-164.32%	337.58%	-61.69%
EBIT Growth	251.10%	-92.01%	-12,999.22%	-106.29%	40.05%	-127.34%	19.81%	54.43%	-128.98%	218.09%	-81.52%
NOPAT Growth	292.24%	-125.27%	-3,387.50%	-104.88%	37.88%	-117.31%	20.87%	47.71%	-123.24%	76.87%	92.67%
Net Income Growth	203.03%	-285.89%	-935.39%	-103.39%	34.75%	-125.88%	1.28%	52.59%	-78.45%	194.17%	-126.56%
EPS Growth	19.09%	72.28%	-13.51%	-96.43%	36.36%	-117.14%	7.02%	55.19%	-70.53%	185.80%	-126.62%
Operating Cash Flow Growth	515.38%	-374.80%	-277.87%	67.18%	139.98%	-458.47%	138.31%	-90.09%	-7,803.90%	359.83%	-54.22%
Free Cash Flow Firm Growth	0.00%	21.81%	-175.63%	61.07%	46.80%	-228.55%	-23.35%	-22.93%	-177.96%	101.49%	-1,015.85%
Invested Capital Growth	0.00%	71.96%	86.90%	-9.32%	-8.80%	-3.41%	20.94%	47.73%	97.06%	-4.43%	8.90%
Revenue Q/Q Growth	0.00%	0.00%	-5.14%	6.75%	4.23%	-3.05%	9.26%	10.27%	-1.89%	6.06%	0.36%
EBITDA Q/Q Growth	0.00%	0.00%	-860.93%	10.66%	-1.80%	-22.09%	16.94%	46.86%	-93.76%	22.51%	11.39%
EBIT Q/Q Growth	0.00%	0.00%	-222.10%	9.64%	-2.92%	-20.18%	15.14%	34.38%	-63.06%	36.68%	18.39%
NOPAT Q/Q Growth	0.00%	0.00%	-138.03%	8.72%	-2.99%	-19.15%	15.24%	28.45%	-52.10%	61.04%	55.39%
Net Income Q/Q Growth	0.00%	0.00%	-119.68%	8.68%	-7.95%	-18.31%	-9.15%	45.02%	-53.22%	44.06%	12.51%
EPS Q/Q Growth	0.00%	0.00%	-207.69%	9.34%	-6.06%	-18.13%	-6.53%	46.63%	-54.29%	56.18%	9.76%
Operating Cash Flow Q/Q Growth	0.00%	-45.15%	-8.57%	39.72%	-8.44%	-86.32%	-8.71%	-77.67%	13.34%	9.56%	4.47%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	18.65%	-34.40%	-36.07%	-15.79%	-17.68%	8.35%	128.27%	9.22%
Invested Capital Q/Q Growth	0.00%	0.00%	-4.58%	-7.35%	-5.12%	-0.55%	15.93%	27.25%	-0.13%	1.03%	0.38%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.05%	52.95%	51.83%	47.52%	48.42%	46.89%	52.00%	53.48%	49.42%	51.59%	52.53%
EBITDA Margin	4.75%	2.91%	-9.89%	-24.36%	-10.41%	-27.36%	-16.37%	-3.70%	-8.21%	16.38%	6.36%
Operating Margin	2.04%	-0.43%	-13.58%	-28.43%	-14.17%	-33.88%	-19.58%	-7.56%	-14.14%	-1.93%	-0.20%
EBIT Margin	2.04%	0.11%	-13.18%	-27.77%	-13.36%	-33.41%	-19.56%	-6.58%	-12.63%	12.53%	2.35%
Profit (Net Income) Margin	1.15%	-1.49%	-13.82%	-28.73%	-15.04%	-37.38%	-26.94%	-9.43%	-14.10%	11.16%	-3.00%
Tax Burden Percent	84.43%	111.16%	99.44%	99.34%	100.87%	100.17%	100.30%	100.76%	99.26%	99.62%	99.37%
Interest Burden Percent	66.58%	-1,175.78%	105.50%	104.12%	111.61%	111.66%	137.30%	142.18%	112.48%	89.38%	-128.77%
Effective Tax Rate	15.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.38%	0.00%
Return on Invested Capital (ROIC)	12.05%	-1.12%	-21.53%	-35.51%	-24.26%	-56.23%	-40.99%	-15.81%	-19.92%	-3.55%	-0.25%
ROIC Less NNEP Spread (ROIC-NNEP)	2.55%	2.39%	-13.35%	-8.24%	-8.31%	-23.83%	-213.55%	-28.50%	-30.02%	41.51%	-45.48%
Return on Net Nonoperating Assets (RNNOA)	1.87%	-1.32%	7.27%	3.01%	3.66%	11.91%	-63.58%	-1,060.65%	-154.52%	47.94%	-5.79%
Return on Equity (ROE)	13.92%	-2.44%	-14.26%	-32.50%	-20.60%	-44.31%	-104.57%	-1,076.46%	-174.43%	44.39%	-6.04%
Cash Return on Invested Capital (CROIC)	-187.95%	-54.04%	-82.11%	-25.73%	-15.06%	-52.75%	-59.95%	-54.34%	-85.26%	0.98%	-8.77%
Operating Return on Assets (OROA)	3.03%	0.12%	-10.33%	-22.93%	-11.34%	-21.97%	-14.23%	-5.10%	-10.95%	10.81%	1.64%
Return on Assets (ROA)	1.70%	-1.52%	-10.84%	-23.72%	-12.77%	-24.57%	-19.60%	-7.31%	-12.23%	9.63%	-2.10%
Return on Common Equity (ROCE)	-91.58%	-0.70%	-14.26%	-32.50%	-20.60%	-44.31%	-104.57%	-1,076.46%	-174.43%	44.39%	-6.04%
Return on Equity Simple (ROE_SIMPLE)	-1.06%	-1.35%	-14.56%	-35.99%	-18.35%	-47.58%	462.80%	-155.87%	-127.06%	27.25%	0.00%
Net Operating Profit after Tax (NOPAT)	1.35	-0.34	-12	-24	-15	-33	-26	-14	-30	-7.04	-0.52
NOPAT Margin	1.72%	-0.30%	-9.51%	-19.90%	-9.92%	-23.72%	-13.70%	-5.29%	-9.90%	-1.92%	-0.14%
Net Nonoperating Expense Percent (NNEP)	9.50%	-3.51%	-8.18%	-27.28%	-15.95%	-32.39%	172.56%	12.70%	10.10%	-45.06%	45.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-4.61%	-9.63%	-1.63%	-0.11%
Cost of Revenue to Revenue	47.95%	47.05%	48.17%	52.48%	51.58%	53.11%	48.00%	46.52%	50.58%	48.41%	47.47%
SG&A Expenses to Revenue	9.03%	11.07%	14.49%	18.18%	15.80%	25.16%	18.99%	17.64%	19.78%	14.15%	13.62%
R&D to Revenue	22.40%	22.43%	25.71%	27.86%	25.44%	34.98%	33.66%	28.75%	28.80%	27.00%	28.42%
Operating Expenses to Revenue	50.01%	53.38%	65.41%	75.96%	62.59%	80.77%	71.58%	61.04%	63.56%	53.52%	52.74%
Earnings before Interest and Taxes (EBIT)	1.60	0.13	-17	-34	-20	-46	-37	-17	-39	46	8.48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.73	3.27	-12	-30	-16	-38	-31	-9.55	-25	60	23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	5.35	3.97	3.19	4.57	8.86	0.00	181.48	71.37	27.42	25.04
Price to Tangible Book Value (P/TBV)	0.00	5.53	4.10	3.32	4.72	9.19	0.00	241.62	4,666.36	34.00	29.27
Price to Revenue (P/Rev)	0.00	5.91	3.77	2.55	3.74	6.96	11.39	10.98	7.92	11.22	14.51
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	100.62	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	14.99	5.90	4.28	8.50	15.89	32.27	28.35	12.85	21.43	24.84
Enterprise Value to Revenue (EV/Rev)	0.00	5.15	3.39	2.28	3.31	6.59	11.81	11.31	8.47	11.34	14.52
Enterprise Value to EBITDA (EV/EBITDA)	0.00	177.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	69.25	228.12
Enterprise Value to EBIT (EV/EBIT)	0.00	4,518.56	0.00	0.00	0.00	0.00	0.00	0.00	0.00	90.54	618.27
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	107.61	0.00	347.68	4,550.23	0.00	32.37	89.22
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,141.80	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.52	0.12	0.09	0.24	0.41	0.50	-26.03	17.97	8.26	1.89	1.34
Long-Term Debt to Equity	1.02	0.09	0.05	0.18	0.41	0.50	-25.16	17.97	8.26	0.00	0.88
Financial Leverage	0.74	-0.55	-0.54	-0.37	-0.44	-0.50	0.30	37.21	5.15	1.16	0.13
Leverage Ratio	4.09	1.61	1.32	1.37	1.61	1.80	5.34	147.35	14.26	4.61	2.88
Compound Leverage Factor	2.72	-18.92	1.39	1.43	1.80	2.01	7.33	209.50	16.04	4.12	-3.71
Debt to Total Capital	60.29%	10.85%	8.65%	19.40%	28.89%	33.33%	104.00%	94.73%	89.20%	65.42%	57.31%
Short-Term Debt to Total Capital	19.71%	2.67%	3.86%	4.88%	0.00%	0.00%	3.47%	0.00%	0.00%	65.42%	19.74%
Long-Term Debt to Total Capital	40.58%	8.18%	4.80%	14.52%	28.89%	33.33%	100.52%	94.73%	89.20%	0.00%	37.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	300.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-261.21%	89.15%	91.35%	80.60%	71.11%	66.67%	-4.00%	5.27%	10.80%	34.58%	42.69%
Debt to EBITDA	5.27	4.62	-0.91	-0.79	-3.20	-1.44	-9.25	-29.34	-11.17	4.73	12.23
Net Debt to EBITDA	2.55	-26.15	3.78	1.09	4.12	1.36	-2.59	-9.14	-6.68	0.73	0.08
Long-Term Debt to EBITDA	3.55	3.48	-0.50	-0.59	-3.20	-1.44	-8.94	-29.34	-11.17	0.00	8.01
Debt to NOPAT	14.52	-44.18	-0.95	-0.97	-3.36	-1.66	-11.06	-20.55	-9.26	-40.26	-544.46
Net Debt to NOPAT	7.03	250.14	3.93	1.33	4.33	1.56	-3.10	-6.40	-5.54	-6.24	-3.46
Long-Term Debt to NOPAT	9.77	-33.30	-0.52	-0.72	-3.36	-1.66	-10.69	-20.55	-9.26	0.00	-356.93
Altman Z-Score	0.00	9.15	8.01	2.54	3.39	4.53	3.42	4.91	4.11	7.20	9.51
Noncontrolling Interest Sharing Ratio	757.76%	71.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.06	5.86	6.52	5.26	9.07	6.21	7.21	6.49	8.73	0.99	2.68
Quick Ratio	1.32	4.65	4.03	3.24	7.19	4.75	6.44	5.28	5.45	0.67	1.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-21	-16	-45	-18	-9.41	-31	-38	-47	-130	1.94	-18
Operating Cash Flow to CapEx	46.39%	-269.04%	-547.71%	-184.97%	193.82%	-549.02%	39.83%	5.43%	-268.99%	749.82%	456.78%
Free Cash Flow to Firm to Interest Expense	-17.45	-10.09	-50.04	-12.61	-3.97	-5.71	-2.75	-6.55	-26.88	0.40	-0.92
Operating Cash Flow to Interest Expense	2.86	-5.82	-39.52	-8.39	1.99	-3.12	0.47	0.09	-10.19	26.33	3.03
Operating Cash Flow Less CapEx to Interest Expense	-3.31	-7.98	-46.74	-12.93	0.96	-3.69	-0.70	-1.56	-13.97	22.82	2.37
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.49	1.02	0.78	0.83	0.85	0.66	0.73	0.78	0.87	0.86	0.70
Accounts Receivable Turnover	6.09	7.40	6.31	6.03	7.24	5.70	6.30	6.03	5.86	6.55	5.66
Inventory Turnover	3.18	2.67	1.61	1.40	2.00	2.09	3.13	3.51	2.17	1.80	1.86
Fixed Asset Turnover	6.35	8.23	7.59	6.47	8.21	8.18	8.64	7.75	7.33	7.67	7.16
Accounts Payable Turnover	11.83	10.21	10.20	13.83	15.39	9.37	8.35	6.53	9.24	13.68	11.11
Days Sales Outstanding (DSO)	59.95	49.31	57.81	60.58	50.39	64.03	57.98	60.49	62.26	55.69	64.49
Days Inventory Outstanding (DIO)	114.81	136.69	226.21	260.36	182.60	174.34	116.47	104.03	168.44	202.36	196.25
Days Payable Outstanding (DPO)	30.86	35.74	35.77	26.40	23.71	38.94	43.71	55.94	39.52	26.69	32.87
Cash Conversion Cycle (CCC)	143.89	150.25	248.25	294.54	209.28	199.42	130.74	108.58	191.18	231.37	227.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	22	39	72	65	60	58	70	103	203	194	211
Invested Capital Turnover	7.00	3.68	2.26	1.78	2.45	2.37	2.99	2.99	2.01	1.85	1.78
Increase / (Decrease) in Invested Capital	22	16	34	-6.72	-5.75	-2.03	12	33	100	-8.98	17
Enterprise Value (EV)	0.00	578	425	280	507	915	2,248	2,917	2,604	4,153	5,241
Market Capitalization	0.00	664	472	312	572	967	2,167	2,829	2,436	4,109	5,239
Book Value per Share	($21.84)	$6.60	$5.68	$4.56	$5.66	$4.73	($0.45)	$0.60	$1.26	$5.30	$6.95
Tangible Book Value per Share	($22.85)	$6.40	$5.49	$4.38	$5.48	$4.56	($0.61)	$0.45	$0.02	$4.27	$5.95
Total Capital	33	139	130	121	176	164	277	296	316	433	490
Total Debt	20	15	11	24	51	55	288	280	282	283	281
Total Long-Term Debt	13	11	6.25	18	51	55	279	280	282	0.00	184
Net Debt	9.51	-85	-47	-33	-66	-52	81	87	169	44	1.78
Capital Expenditures (CapEx)	7.45	3.53	6.55	6.37	2.43	3.07	16	12	18	17	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	15	27	57	48	41	38	37	59	126	114	134
Debt-free Net Working Capital (DFNWC)	25	127	115	104	157	144	230	233	239	279	309
Net Working Capital (NWC)	18	123	110	98	157	144	220	233	239	-4.78	213
Net Nonoperating Expense (NNE)	0.45	1.33	5.41	11	7.82	19	25	11	13	-48	10
Net Nonoperating Obligations (NNO)	9.51	-85	-47	-33	-66	-52	81	87	169	44	1.78
Total Depreciation and Amortization (D&A)	2.12	3.14	4.12	4.19	4.51	8.41	6.07	7.41	14	14	14
Debt-free, Cash-free Net Working Capital to Revenue	18.81%	23.62%	45.32%	39.18%	26.68%	27.12%	19.23%	22.91%	40.83%	31.14%	37.14%
Debt-free Net Working Capital to Revenue	31.71%	113.16%	91.70%	84.90%	102.90%	103.49%	120.84%	90.30%	77.65%	76.13%	85.70%
Net Working Capital to Revenue	23.53%	109.85%	87.69%	80.07%	102.90%	103.49%	115.77%	90.30%	77.65%	-1.31%	58.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.67)	($0.74)	($0.84)	($1.65)	($1.05)	($2.28)	($2.12)	($0.95)	($1.62)	$1.46	($0.37)
Adjusted Weighted Average Basic Shares Outstanding	3.89M	20.56M	21.32M	21.49M	22.28M	23.40M	24.76M	25.54M	26.75M	27.95M	29.28M
Adjusted Diluted Earnings per Share	($2.67)	($0.74)	($0.84)	($1.65)	($1.05)	($2.28)	($2.12)	($0.95)	($1.62)	$1.39	($0.37)
Adjusted Weighted Average Diluted Shares Outstanding	3.89M	20.56M	21.32M	21.49M	22.28M	23.40M	24.76M	25.54M	26.75M	29.47M	29.28M
Adjusted Basic & Diluted Earnings per Share	($2.67)	($0.74)	($0.84)	($1.65)	($1.05)	($2.28)	($2.12)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.89M	10.78M	20.68M	21.33M	21.85M	22.82M	24.18M	26.16M	27.20M	28.54M	30.23M
Normalized Net Operating Profit after Tax (NOPAT)	1.35	-0.34	-12	-22	-15	-33	-25	-14	-30	-5.24	-0.52
Normalized NOPAT Margin	1.72%	-0.30%	-9.51%	-17.76%	-9.92%	-23.72%	-13.07%	-5.32%	-9.90%	-1.43%	-0.14%
Pre Tax Income Margin	1.36%	-1.34%	-13.90%	-28.92%	-14.91%	-37.31%	-26.86%	-9.35%	-14.21%	11.20%	-3.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.33	0.08	-18.18	-24.28	-8.62	-8.58	-2.68	-2.37	-8.01	9.41	0.44
NOPAT to Interest Expense	1.12	-0.21	-13.12	-17.40	-6.40	-6.09	-1.88	-1.91	-6.28	-1.45	-0.03
EBIT Less CapEx to Interest Expense	-4.84	-2.08	-25.40	-28.82	-9.64	-9.14	-3.85	-4.02	-11.80	5.90	-0.23
NOPAT Less CapEx to Interest Expense	-5.05	-2.37	-20.34	-21.94	-7.42	-6.66	-3.05	-3.55	-10.07	-4.96	-0.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Impinj's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,231,686.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	30,231,686.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.84
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.78%	-7.75%	-10.56%	19.20%	46.45%	29.61%	-3.32%	-4.49%	0.90%	1.40%	-0.04%
EBITDA Growth	-1,487.37%	-459.56%	2,452.00%	576.80%	147.02%	115.32%	-110.73%	13.71%	31.62%	160.45%	-100.00%
EBIT Growth	-1,420.00%	-1,245.52%	1,223.14%	255.03%	111.17%	89.10%	-121.73%	15.75%	97.21%	87.45%	-66.49%
NOPAT Growth	-807.91%	-26,598.21%	-277.35%	254.60%	96.42%	75.65%	42.91%	18.53%	215.65%	25.33%	-58.51%
Net Income Growth	-616.78%	-12,764.41%	865.12%	223.52%	101.40%	82.28%	-125.34%	15.96%	-5,896.38%	57.66%	-198.91%
EPS Growth	-555.56%	-5,700.00%	747.06%	213.33%	101.69%	89.29%	-127.27%	14.71%	-4,500.00%	66.67%	-176.67%
Operating Cash Flow Growth	-111.80%	123.12%	326.43%	301.73%	690.50%	784.58%	-118.53%	-25.55%	107.52%	19.91%	135.72%
Free Cash Flow Firm Growth	-505.62%	-232.04%	-11.60%	126.20%	108.12%	105.85%	61.00%	-165.42%	-265.87%	-396.53%	64.46%
Invested Capital Growth	151.09%	97.06%	36.13%	-11.59%	-5.53%	-4.43%	9.26%	17.86%	9.60%	8.90%	-0.87%
Revenue Q/Q Growth	-24.40%	8.69%	8.74%	33.41%	-7.12%	-3.81%	-18.88%	31.80%	-1.88%	-3.34%	-20.03%
EBITDA Q/Q Growth	-260.50%	13.02%	506.07%	-62.55%	-64.45%	-71.67%	-384.43%	496.85%	-58.84%	-43.93%	-318.41%
EBIT Q/Q Growth	-104.66%	6.30%	350.16%	-67.68%	-85.25%	-191.44%	-398.61%	272.15%	-74.87%	-105.82%	-6,514.81%
NOPAT Q/Q Growth	-89.20%	6.28%	-12.96%	177.19%	-104.38%	-536.93%	-164.85%	260.27%	-95.72%	-511.28%	-462.19%
Net Income Q/Q Growth	-95.41%	3.69%	319.66%	-70.12%	-97.78%	-1,317.19%	-214.16%	236.71%	-210.88%	91.11%	-2,117.82%
EPS Q/Q Growth	-96.67%	5.08%	296.43%	-69.09%	-97.06%	-700.00%	-400.00%	230.00%	-212.82%	95.45%	-4,050.00%
Operating Cash Flow Q/Q Growth	92.44%	183.70%	4,114.44%	-24.38%	-77.86%	25.38%	-188.28%	403.87%	-38.30%	-27.55%	-73.71%
Free Cash Flow Firm Q/Q Growth	-7.15%	17.26%	42.65%	151.52%	-66.79%	-40.37%	-482.25%	13.59%	15.78%	-6.60%	54.19%
Invested Capital Q/Q Growth	0.04%	-0.13%	-4.30%	-7.53%	6.90%	1.03%	9.41%	-0.25%	-0.60%	0.38%	-0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.33%	47.94%	48.87%	56.12%	49.97%	50.48%	49.38%	57.83%	50.31%	51.76%	49.10%
EBITDA Margin	-16.90%	-13.53%	50.51%	14.18%	5.43%	1.60%	-5.61%	16.88%	7.08%	4.11%	-11.22%
Operating Margin	-24.36%	-21.00%	-15.27%	8.83%	-0.81%	-3.95%	-12.88%	11.11%	0.68%	-2.91%	-20.43%
EBIT Margin	-22.68%	-19.55%	44.98%	10.90%	1.73%	-1.64%	-10.11%	13.21%	3.38%	-0.20%	-16.84%
Profit (Net Income) Margin	-24.25%	-21.49%	43.40%	9.72%	0.23%	-2.94%	-11.38%	11.80%	-13.34%	-1.23%	-34.02%
Tax Burden Percent	98.78%	101.00%	100.00%	100.12%	51.64%	98.64%	96.78%	98.73%	99.31%	115.40%	100.19%
Interest Burden Percent	108.23%	108.79%	96.48%	89.10%	25.99%	181.08%	116.29%	90.52%	-397.14%	522.22%	201.67%
Effective Tax Rate	0.00%	0.00%	0.00%	-0.12%	48.36%	0.00%	0.00%	1.27%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-37.66%	-29.59%	-27.09%	14.56%	-0.73%	-5.10%	-16.15%	20.14%	0.86%	-3.63%	-24.46%
ROIC Less NNEP Spread (ROIC-NNEP)	-41.45%	-33.33%	13.15%	15.35%	-0.18%	-5.25%	-18.34%	22.04%	-36.55%	-0.35%	-75.23%
Return on Net Nonoperating Assets (RNNOA)	-277.73%	-171.56%	26.19%	22.82%	-0.23%	-6.07%	-11.88%	6.24%	-7.83%	-0.04%	-11.91%
Return on Equity (ROE)	-315.39%	-201.15%	-0.90%	37.38%	-0.96%	-11.17%	-28.02%	26.38%	-6.98%	-3.67%	-36.37%
Cash Return on Invested Capital (CROIC)	-100.17%	-85.26%	-51.72%	-5.23%	-3.47%	0.98%	-10.54%	-17.88%	-9.73%	-8.77%	-1.22%
Operating Return on Assets (OROA)	-20.57%	-16.96%	34.14%	8.27%	1.42%	-1.42%	-8.22%	9.93%	2.45%	-0.14%	-12.38%
Return on Assets (ROA)	-21.99%	-18.64%	32.94%	7.38%	0.19%	-2.54%	-9.26%	8.87%	-9.67%	-0.86%	-25.01%
Return on Common Equity (ROCE)	-315.39%	-201.15%	-0.90%	37.38%	-0.96%	-11.17%	-28.02%	26.38%	-6.98%	-3.67%	-36.37%
Return on Equity Simple (ROE_SIMPLE)	-81.33%	0.00%	-6.59%	10.57%	20.83%	0.00%	-0.60%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-11	-10	-12	9.06	-0.40	-2.53	-6.70	11	0.46	-1.89	-11
NOPAT Margin	-17.05%	-14.70%	-15.27%	8.84%	-0.42%	-2.76%	-9.02%	10.97%	0.48%	-2.03%	-14.30%
Net Nonoperating Expense Percent (NNEP)	3.79%	3.75%	-40.24%	-0.79%	-0.55%	0.15%	2.20%	-1.90%	37.40%	-3.28%	50.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.29%	-	-	-	-0.58%	-1.51%	2.27%	0.10%	-0.39%	-2.38%
Cost of Revenue to Revenue	52.67%	52.06%	51.13%	43.88%	50.03%	49.52%	50.62%	42.17%	49.69%	48.24%	50.90%
SG&A Expenses to Revenue	20.82%	22.26%	17.40%	12.90%	13.08%	13.94%	16.69%	12.08%	12.53%	13.93%	16.98%
R&D to Revenue	33.21%	29.92%	29.31%	24.32%	26.78%	28.28%	34.08%	25.18%	26.78%	29.00%	38.69%
Operating Expenses to Revenue	71.69%	68.94%	64.15%	47.29%	50.78%	54.42%	62.27%	46.72%	49.63%	54.66%	69.53%
Earnings before Interest and Taxes (EBIT)	-15	-14	35	11	1.65	-1.51	-7.51	13	3.25	-0.19	-13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-11	-9.56	39	15	5.17	1.46	-4.16	17	6.80	3.81	-8.33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	42.47	71.37	40.43	37.14	44.73	27.42	16.12	17.15	26.97	25.04	15.23
Price to Tangible Book Value (P/TBV)	1,443.44	4,666.36	63.90	50.48	58.14	34.00	19.77	20.59	32.02	29.27	17.78
Price to Revenue (P/Rev)	4.72	7.92	11.64	13.79	17.64	11.22	7.12	8.97	14.61	14.51	8.60
Price to Earnings (P/E)	0.00	0.00	0.00	351.36	214.75	100.62	0.00	5,084.80	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.28%	0.47%	0.99%	0.00%	0.02%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.11	12.85	18.46	24.56	32.03	21.43	12.45	15.33	25.09	24.84	14.80
Enterprise Value to Revenue (EV/Rev)	5.25	8.47	12.00	13.99	17.80	11.34	7.26	9.03	14.66	14.52	8.62
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	235.45	134.38	125.50	69.25	155.29	170.73	255.66	228.12	165.38
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	256.70	183.06	90.54	694.70	583.28	736.48	618.27	892.95
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	96.00	41.84	52.46	32.37	46.29	71.41	93.77	89.22	42.12
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	2,141.80	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	8.09	8.26	3.29	2.42	2.08	1.89	1.77	1.51	1.44	1.34	1.18
Long-Term Debt to Equity	8.09	8.26	3.29	0.00	0.00	0.00	1.77	1.51	0.94	0.88	1.18
Financial Leverage	6.70	5.15	1.99	1.49	1.31	1.16	0.65	0.28	0.21	0.13	0.16
Leverage Ratio	18.76	14.26	6.99	5.40	4.92	4.61	3.63	3.13	3.00	2.88	2.70
Compound Leverage Factor	20.30	15.52	6.74	4.81	1.28	8.35	4.22	2.84	-11.91	15.04	5.44
Debt to Total Capital	89.00%	89.20%	76.66%	70.73%	67.53%	65.42%	63.88%	60.24%	58.98%	57.31%	54.22%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	70.73%	67.53%	65.42%	0.00%	0.00%	20.33%	19.74%	0.00%
Long-Term Debt to Total Capital	89.00%	89.20%	76.66%	0.00%	0.00%	0.00%	63.88%	60.24%	38.66%	37.57%	54.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	11.00%	10.80%	23.34%	29.27%	32.47%	34.58%	36.12%	39.76%	41.02%	42.69%	45.78%
Debt to EBITDA	-21.60	-11.17	18.55	8.62	5.78	4.73	16.70	14.97	13.59	12.23	12.84
Net Debt to EBITDA	-12.91	-6.68	7.11	1.90	1.14	0.73	3.03	1.25	0.74	0.08	0.33
Long-Term Debt to EBITDA	-21.60	-11.17	18.55	0.00	0.00	0.00	16.70	14.97	8.91	8.01	12.84
Debt to NOPAT	-14.06	-9.26	-7.94	-8.43	-15.66	-40.26	-82.69	-97.95	-242.44	-544.46	-54.44
Net Debt to NOPAT	-8.41	-5.54	-3.04	-1.86	-3.08	-6.24	-14.98	-8.19	-13.18	-3.46	-1.41
Long-Term Debt to NOPAT	-14.06	-9.26	-7.94	0.00	0.00	0.00	-82.69	-97.95	-158.90	-356.93	-54.44
Altman Z-Score	2.62	4.34	6.85	7.60	10.33	6.88	5.11	6.49	9.96	9.46	6.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.09	8.73	9.42	1.12	0.99	0.99	10.96	11.64	2.67	2.68	9.20
Quick Ratio	4.79	5.45	6.78	0.86	0.71	0.67	7.28	8.26	1.91	1.95	6.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-133	-110	-63	33	11	6.45	-25	-21	-18	-19	-8.76
Operating Cash Flow to CapEx	-67.23%	54.38%	969.69%	3,329.36%	186.07%	305.42%	-598.12%	517.74%	710.65%	997.10%	227.82%
Free Cash Flow to Firm to Interest Expense	-109.85	-90.74	-52.00	26.77	8.88	5.28	-20.17	-17.40	-1.11	-23.97	-0.69
Operating Cash Flow to Interest Expense	-1.41	1.17	49.46	37.37	8.26	10.34	-9.11	27.64	1.29	18.97	0.31
Operating Cash Flow Less CapEx to Interest Expense	-3.50	-0.99	44.36	36.25	3.82	6.95	-10.63	22.30	1.11	17.07	0.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.91	0.87	0.76	0.76	0.82	0.86	0.81	0.75	0.72	0.70	0.74
Accounts Receivable Turnover	7.03	5.86	4.96	5.57	6.12	6.55	6.24	6.57	5.73	5.66	5.58
Inventory Turnover	2.24	2.17	1.76	1.61	1.73	1.80	1.89	1.94	1.90	1.86	1.86
Fixed Asset Turnover	8.24	7.33	6.69	6.83	7.28	7.67	7.49	7.16	7.04	7.16	7.27
Accounts Payable Turnover	12.79	9.24	6.61	7.23	10.70	13.68	17.34	12.59	9.38	11.11	13.06
Days Sales Outstanding (DSO)	51.90	62.26	73.59	65.55	59.67	55.69	58.48	55.58	63.69	64.49	65.44
Days Inventory Outstanding (DIO)	163.14	168.44	207.76	226.95	211.17	202.36	193.61	187.95	192.10	196.25	196.53
Days Payable Outstanding (DPO)	28.53	39.52	55.22	50.46	34.11	26.69	21.05	28.99	38.93	32.87	27.94
Cash Conversion Cycle (CCC)	186.50	191.18	226.13	242.04	236.74	231.37	231.04	214.54	216.87	227.86	234.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	203	203	194	179	192	194	212	211	210	211	210
Invested Capital Turnover	2.21	2.01	1.77	1.65	1.75	1.85	1.79	1.84	1.79	1.78	1.71
Increase / (Decrease) in Invested Capital	122	100	51	-24	-11	-8.98	18	32	18	17	-1.85
Enterprise Value (EV)	1,646	2,604	3,582	4,407	6,143	4,153	2,640	3,242	5,273	5,241	3,111
Market Capitalization	1,478	2,436	3,474	4,345	6,088	4,109	2,588	3,219	5,258	5,239	3,105
Book Value per Share	$1.30	$1.26	$3.14	$4.22	$4.84	$5.30	$5.63	$6.48	$6.70	$6.95	$6.74
Tangible Book Value per Share	$0.04	$0.02	$1.99	$3.11	$3.72	$4.27	$4.59	$5.39	$5.65	$5.95	$5.78
Total Capital	316	316	368	400	419	433	444	472	475	490	445
Total Debt	281	282	282	283	283	283	284	284	280	281	241
Total Long-Term Debt	281	282	282	0.00	0.00	0.00	284	284	184	184	241
Net Debt	168	169	108	62	56	44	51	24	15	1.78	6.25
Capital Expenditures (CapEx)	2.54	2.62	6.20	1.37	5.41	4.13	1.86	6.54	2.94	1.52	1.75
Debt-free, Cash-free Net Working Capital (DFCFNWC)	126	126	116	102	111	114	132	127	127	134	135
Debt-free Net Working Capital (DFNWC)	239	239	290	322	281	279	280	320	317	309	267
Net Working Capital (NWC)	239	239	290	39	-2.01	-4.78	280	320	220	213	267
Net Nonoperating Expense (NNE)	4.68	4.79	-45	-0.91	-0.62	0.16	1.75	-0.82	13	-0.75	15
Net Nonoperating Obligations (NNO)	168	169	108	62	56	44	51	24	15	1.78	6.25
Total Depreciation and Amortization (D&A)	3.76	4.26	4.25	3.37	3.52	2.97	3.35	3.60	3.55	4.00	4.17
Debt-free, Cash-free Net Working Capital to Revenue	40.19%	40.83%	38.80%	32.34%	32.11%	31.14%	36.44%	35.25%	35.16%	37.14%	37.31%
Debt-free Net Working Capital to Revenue	76.31%	77.65%	97.15%	102.25%	81.43%	76.13%	77.13%	89.07%	87.99%	85.70%	73.82%
Net Working Capital to Revenue	76.31%	77.65%	97.15%	12.51%	-0.58%	-1.31%	77.13%	89.07%	61.14%	58.90%	73.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.59)	($0.56)	$1.22	$0.36	$0.01	($0.13)	($0.30)	$0.40	($0.44)	($0.03)	($0.83)
Adjusted Weighted Average Basic Shares Outstanding	26.92M	26.75M	27.36M	27.89M	28.17M	27.95M	28.64M	29.01M	29.34M	29.28M	30.29M
Adjusted Diluted Earnings per Share	($0.59)	($0.56)	$1.10	$0.34	$0.01	($0.06)	($0.30)	$0.39	($0.44)	($0.02)	($0.83)
Adjusted Weighted Average Diluted Shares Outstanding	26.92M	26.75M	31.43M	29.42M	29.73M	29.47M	28.64M	29.66M	29.34M	29.28M	30.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	27.06M	27.20M	27.71M	28.12M	28.29M	28.54M	28.98M	29.09M	30.11M	30.23M	30.46M
Normalized Net Operating Profit after Tax (NOPAT)	-11	-10	-6.94	6.33	-0.40	-2.53	-6.70	11	0.46	-1.89	-11
Normalized NOPAT Margin	-17.05%	-14.70%	-9.04%	6.18%	-0.42%	-2.76%	-9.02%	10.97%	0.48%	-2.03%	-14.30%
Pre Tax Income Margin	-24.55%	-21.27%	43.40%	9.71%	0.45%	-2.98%	-11.76%	11.95%	-13.43%	-1.06%	-33.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-12.16	-11.37	28.42	9.18	1.35	-1.23	-6.14	10.55	0.20	-0.24	-0.98
NOPAT to Interest Expense	-9.14	-8.55	-9.65	7.44	-0.33	-2.07	-5.48	8.76	0.03	-2.37	-0.84
EBIT Less CapEx to Interest Expense	-14.25	-13.53	23.32	8.05	-3.09	-4.62	-7.66	5.21	0.02	-2.14	-1.12
NOPAT Less CapEx to Interest Expense	-11.23	-10.71	-14.75	6.32	-4.76	-5.46	-7.00	3.42	-0.15	-4.27	-0.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Impinj Inc. (PI) has shown a notable shift in 2025, with several quarters posting stronger revenue and cash flow signs, but the company also faces ongoing profitability challenges and meaningful investment activity. Here are the key takeaways drawn from the last four years of quarterly results, focused on multi-year trends and notable quarterly dynamics.

In Q2 2025, operating revenue reached about $97.9 million with gross profit around $56.6 million, yielding a gross margin of roughly 57.8%—a solid level that supports ongoing product and pricing resilience.
Three of the four most recent 2025 quarters generated positive net cash from operating activities (Q2 2025 roughly $33.9M, Q3 2025 roughly $20.9M, Q4 2025 roughly $15.1M), signaling improving cash generation from core operations despite quarterly fluctuations.
Liquidity on the balance sheet remains strong in 2025: as of Q3 2025, cash and short-term investments totaled about $190M (cash around $51.7M and short-term investments around $138.4M), with total current assets near $351.8M and total current liabilities around $131.8M, implying a current ratio well above 2x.
The company shows recurring non-cash adjustments in cash flow that can help align reported profit with cash flow (notably sizable non-cash adjustments in several quarters), which can support cash generation even when net income is volatile.
There are meaningful positive cash inflows from the sale/maturity of investments in multiple periods (e.g., Q3 2025 and Q4 2025), contributing to overall liquidity and funding investment activity.
Revenue remains volatile on a quarterly basis, ranging roughly from the mid-$70s million to the low-$100s million in 2022–2025, reflecting ongoing demand variability and seasonality typical for hardware-related tech peers.
The company carries a substantial debt load (long-term debt around $183.8M as of 9/30/2025) alongside sizable cash, indicating a leveraged but cash-supportable balance sheet profile that could influence interest expense going forward.
Net income is highly variable across quarters, with significant losses in several periods (for example, Q3 2025 and Q1 2025 showed notable losses), highlighting ongoing profitability challenges despite revenue growth.
Net income has been negative in multiple 2025 quarters (e.g., Q3 2025 about -$12.8M, Q4 2025 about -$1.14M), underscoring a continuing profitability hurdle that may concern long-term earnings visibility.

05/07/26 11:14 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Impinj's Financials

When does Impinj's financial year end?

According to the most recent income statement we have on file, Impinj's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Impinj's net income changed over the last 10 years?

Over the last 10 years, Impinj's net income changed from $900 thousand in 2015 to -$10.85 million in 2025, a change of -1,305.2%. See where experts think Impinj is headed by visiting Impinj's forecast page.

What is Impinj's operating income?

Impinj's total operating income in 2025 was -$737 thousand, based on the following breakdown:

Total Gross Profit: $189.68 million
Total Operating Expenses: $190.41 million

How has Impinj's revenue changed over the last 10 years?

Over the last 10 years, Impinj's total revenue changed from $78.48 million in 2015 to $361.08 million in 2025, a change of 360.1%.

How much debt does Impinj have?

Impinj's total liabilities were at $335.96 million at the end of 2025, a 1.0% decrease from 2024, and a 741.6% increase since 2015.

How much cash does Impinj have?

In the past 10 years, Impinj's cash and equivalents has ranged from $10.12 million in 2015 to $123.90 million in 2021, and is currently $48.21 million as of their latest financial filing in 2025.

How has Impinj's book value per share changed over the last 10 years?

Over the last 10 years, Impinj's book value per share changed from -21.84 in 2015 to 6.95 in 2025, a change of -131.8%.

Related Companies

Financial statements for NASDAQ:PI last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Impinj (PI) Financials

Financials Breakdown Chart

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Impinj (PI) Financials

Annual Income Statements for Impinj

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Quarterly Balance Sheets for Impinj

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Quarterly Metrics And Ratios for Impinj

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Key Financial Trends

Frequently Asked Questions About Impinj's Financials

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