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IMPINJ Inc (PI)
NASDAQ:PI
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.11Last Year’s EPS
0.21Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced meaningful strategic and financial positives against short-term operational headwinds. Highlights include record adjusted EBITDA and margins, a strong cash position, 9% endpoint IC unit volume growth, Gen2X product momentum, a custom ASIC in production for a large logistics customer, and a growing solutions focus that management expects will drive share and software revenue over time. Lowlights are near-term: Q1 guidance implies a high‑teens sequential decline in endpoint IC revenue and modest adjusted EBITDA, channel inventory builds in logistics masking retail weakness (with an estimated ~$5M revenue impact per week of burn-down), expected Q1 margin pressure from lower revenue and price reductions, and FY GAAP loss. Because the positives reflect durable operational and strategic gains (record margins, cash, product launches and a clear solutions strategy) while the negatives are largely near-term and tied to inventory timing and seasonal/project timing, the overall tone is cautiously optimistic with confidence in improvement through 2026.Company Guidance
Record Adjusted EBITDA and Margin
Fiscal 2025 adjusted EBITDA of $69.6M (record), up from $65.9M in 2024; adjusted EBITDA margin a record 19.3%, in line with long-term model. Q4 adjusted EBITDA $16.4M (17.7% margin).
Strong Cash and Free Cash Flow Position
Ending Q4 cash, cash equivalents and investments of $279.1M, up from $239.6M year-over-year; fiscal 2025 free cash flow $45.9M; Q4 free cash flow $13.6M.
Endpoint IC Unit Volume Growth
Management reported a 9% year-over-year increase in endpoint IC unit volumes in 2025, with M800 established as the volume runner and contributing to a richer product mix.
Gross Margin Improvement Driven by M800 Mix
Fiscal 2025 gross margin increased to 55.3% from 54.0% in 2024; Q4 gross margin 54.5% vs 53.1% year-over-year, driven primarily by higher endpoint IC direct margins from a richer mix of M800 SKU.
Product and Solutions Momentum
Launched Gen2X and proved it in Lighthouse accounts; added EM Microelectronics as a Gen2X licensee; shipping a custom endpoint ASIC for a large North American logistics customer; hired Chris Hundley as EVP of enterprise solutions to accelerate solutions strategy.
Systems Revenue and NRE Strength
Q4 systems revenue $17.7M, up 2% sequential and 1% year-over-year; systems revenue exceeded expectations in Q4 driven by NRE revenue. Fiscal 2025 systems revenue grew ~2% year-over-year.
Q4 Non-GAAP Profitability
Q4 non-GAAP net income of $15.6M, $0.50 per diluted share; fiscal 2025 non-GAAP net income $64.2M, $2.11 per diluted share.
Inventory Reduction Progress
Company inventory at quarter end $85M, down $7.7M sequentially, indicating some channel destocking progress.
PI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $153.83 | $116.04 | -24.57% |
Oct 29, 2025 | $241.91 | $206.08 | -14.81% |
Jul 30, 2025 | $122.21 | $154.58 | +26.49% |
Apr 23, 2025 | $77.07 | $89.75 | +16.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does IMPINJ Inc (PI) report earnings?
IMPINJ Inc (PI) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is IMPINJ Inc (PI) earnings time?
IMPINJ Inc (PI) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PI EPS forecast?
PI EPS forecast for the fiscal quarter 2026 (Q1) is 0.11.