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Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item. Its platform also consists of systems products that consists of reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software that enable its partners to solve enterprise business problems, such as package sortation, dock door ingress/egress and retail self-checkout and loss prevention. The company primarily serves retail, supply chain and logistics, automotive, aviation, banking, datacenters, food, healthcare, industrial and manufacturing, linen and uniform tracking, sports, and travel industries through original equipment and device manufacturers, tag service bureaus, systems integrators, value-added resellers, independent software vendors, and other solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $361M | $7M | $-11M | $46M | -5.2% | -1.4% | -126.6% |
| 2024 | $366M | $58M | $41M | $111M | 27.3% | 19.0% | -194.2% |
| 2023 | $308M | $-27M | $-43M | $-68M | -127.1% | 19.3% | 78.5% |
| 2022 | $258M | $-15M | $-24M | $-11M | -155.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 257.80 | 307.54 | 366.09 | 361.08 |
| Cost Of Revenue | 119.92 | 155.56 | 177.23 | 171.40 |
| Gross Profit | 137.88 | 151.98 | 188.86 | 189.68 |
| Operating Expense | 157.46 | 195.47 | 194.11 | 190.41 |
| Operating Income | -19.58 | -43.48 | -5.26 | -0.74 |
| EBITDA | -14.75 | -26.83 | 57.82 | 7.18 |
| EBIT | -20.80 | -40.45 | 44.23 | -7.86 |
| Pretax Income | -24.12 | -43.69 | 41 | -10.92 |
| Tax Provision | 0.18 | -0.32 | 0.16 | -0.07 |
| Net Income | -24.30 | -43.37 | 40.84 | -10.85 |
| Net Income Common Stockholders | -24.30 | -43.37 | 40.84 | -10.85 |
| Total Expenses | 277.38 | 351.02 | 371.34 | 361.81 |
| Interest Expense | 3.32 | 3.24 | 3.23 | 3.05 |
| Research And Development | 74.11 | 88.56 | 98.83 | 102.62 |
| Selling General And Administration | 83.36 | 101.95 | 92.38 | 85.72 |
| Normalized EBITDA | -14.85 | -26.83 | 14.63 | 7.18 |
| Normalized Income | -24.38 | -43.37 | -2.18 | -10.85 |
| Market Cap | 3,746.01 | 3,746.01 | 3,746.01 | 3,746.01 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Impinj, Inc.this co. | PI | - | -345.35 | 17.90 | -5.2% | 557.61 |
| Teradata Corporation | TDC | $2.5B | 19.22 | 10.86 | 56.5% | 8.72 |
| Verra Mobility Corporation | VRRM | $2.4B | 16.70 | 7.79 | 46.6% | 8.73 |
| Insight Enterprises, Inc. | NSIT | $2.3B | 14.13 | 1.35 | 9.5% | 8.28 |
| ePlus inc. | PLUS | $2.3B | 20.77 | 2.29 |
| 11.0% |
| 10.97 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.67 | 2.61 | 15.6% | 10.06 |
| DXC Technology Company | DXC | $2.1B | 5.18 | 0.62 | 12.0% | 2.16 |
| Digi International Inc. | DGII | $2.1B | 52.23 | 3.35 | 6.4% | 25.20 |
| SPS Commerce, Inc. | SPSC | $2.1B | 21.89 | 2.10 | 9.6% | 10.76 |
| Peer Median | - | 17.96 | 2.45 | 11.5% | 9.40 | |