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Impinj, Inc.

PI NASDAQ Categories PDF
Technology · Communication Equipment · United States · Updated May 11, 1:50pm
$156.28
Price
$4.8B
Market Cap
451
Employees
1.93
Beta
Chris Diorio
CEO
Business Description

Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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 comprise 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 and algorithms that enables its partners to deliver use cases, such as retail self-checkout and loss prevention, and warehouse pallet and carton tracking to end-users. The company primarily serves retail, supply chain and logistics, aviation, automotive, healthcare, industrial and manufacturing, sports, food, datacenter, travel, banking, and linen and uniform tracking sectors through distributors, system integrators, value-added resellers, and software solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.

Business History
Price Overview
Last updated: May 11, 2026 1:50pm (just now)
$156.37
+3.46 (+2.26%)
Day Range
$152.21 – $156.44
52-Week Range
$87.36 – $247.06
50-Day MA
$112.12
200-Day MA
$155.14
Volume
173,052.01
Analyst Price Targets
Low $144.00
Consensus $180.00
High $220.00
(47 analysts)
Share Structure
Outstanding 30,459,059.00
Float 29,490,278.00
Free Float 96.8%
High free float — 96.8% of shares trade freely, ~3.2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-422.38
Stock Price: $156.28
EPS (Diluted): -0.37
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
24.35
Stock Price: $156.28
Total Equity: $209.23M
Shares: 29,283,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-467.54
Market Cap: $4.76B
Total Debt: $304.20M
Cash: $48.21M
EBITDA: $8.49M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$5.4B
Market Cap: $4.76B
Total Debt: $304.20M
Cash: $48.21M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
52.0%
Gross Profit: $187.60M
Revenue: $361.08M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-0.2%
Operating Income: -$737,000
Revenue: $361.08M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-3.0%
Net Income: -$10.85M
Revenue: $361.08M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-13.9%
Net Income: -$10.85M
Total Equity: $209.23M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-1.3%
Operating Income: -$737,000
Tax Rate: 0.6%
Equity: $209.23M
Total Debt: $304.20M
Cash: $48.21M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.68
Current Assets: $339.22M
Current Liabilities: $126.53M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
1.45
Short-Term Debt: $97.52M
Long-Term Debt: $206.68M
Total Debt: $304.20M
Total Equity: $209.23M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$12.33
Revenue: $361.08M
Shares: 29,283,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$7.15
Total Equity: $209.23M
Shares: 29,283,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$1.57
Operating CF: $58.75M
CapEx: -$12.86M
Shares: 29,283,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $156.28
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$10.85M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares PI against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $190.3M $257.8M $307.5M $366.1M $361.1M
Cost of Revenue $91.3M $119.9M $155.6M $177.2M $173.5M
Gross Profit $99.0M $137.9M $152.0M $188.9M $187.6M
Operating Expenses $136.2M $157.4M $195.5M $195.9M $188.3M
Operating Income -$37.2M -$19.5M -$43.5M -$7.1M $-737,000
Net Income -$51.3M -$24.3M -$43.4M $40.8M -$10.8M
EBITDA -$30.9M -$13.5M -$26.6M $10.3M $8.5M
EPS $-2.12 $-0.95 $-1.62 $1.46 $-0.37
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $123.9M $19.6M $94.8M $46.1M $48.2M
Total Current Assets $255.8M $275.2M $269.7M $326.4M $339.2M
Total Assets $315.5M $349.7M $359.4M $489.1M $545.2M
Current Liabilities $35.5M $42.4M $30.9M $331.2M $126.5M
Long-Term Debt $278.7M $280.2M $281.9M $5.7M $206.7M
Total Liabilities $326.6M $334.1M $325.3M $339.2M $336.0M
Total Equity -$11.1M $15.6M $34.1M $149.9M $209.2M
Retained Earnings -$362.5M -$386.8M -$430.2M -$389.3M -$400.2M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $6.5M $640,999 -$49.4M $128.3M $58.7M
Capital Expenditure -$16.2M -$12.1M -$18.8M -$17.1M -$12.9M
Free Cash Flow -$9.8M -$11.4M -$68.2M $111.2M $45.9M
Acquisitions (net) $0 $279,000 -$23.4M $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 $0 $0
Net Change in Cash $100.3M -$104.3M $75.2M -$48.7M $2.2M
Analyst Estimates (Annual)
Metric 2026 2027 2028 2029
Revenue $373.3M
$367.4M – $380.5M
 $460.6M
$453.3M – $469.6M
 $598.7M
$598.7M – $598.7M
 $726.0M
$714.5M – $740.1M
EBITDA $79.1M
$77.8M – $80.6M
 $97.6M
$96.0M – $99.5M
 $126.8M
$126.8M – $126.8M
 $153.8M
$151.4M – $156.8M
Net Income $55.0M
$52.3M – $57.6M
 $82.8M
$80.9M – $84.7M
 $114.6M
$91.9M – $137.3M
 $105.1M
$103.0M – $107.8M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +35.5% +19.3% +19.0% -1.4%
Gross Profit Growth +39.3% +10.2% +24.3% -0.7%
Operating Income Growth +47.7% -123.2% +83.7% +89.6%
Net Income Growth +52.6% -78.5% +194.2% -126.6%
EBITDA Growth +56.2% -96.4% +138.8% -17.7%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-03-23 Baker Cary M-Exempt 597.00 $0.00 $0
2026-03-23 Baker Cary M-Exempt 479.00 $0.00 $0
2026-03-23 Baker Cary F-InKind 732.00 $101.17 $74,056
2026-03-23 Baker Cary M-Exempt 782.00 $0.00 $0
2026-03-23 Baker Cary A-Award 7,627.00 $0.00 $0
2026-03-23 Baker Cary M-Exempt 597.00 $0.00 $0
2026-03-23 Baker Cary M-Exempt 479.00 $0.00 $0
2026-03-23 Baker Cary M-Exempt 782.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 1,817.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 1,224.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. F-InKind 2,218.00 $101.17 $224,395
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 2,594.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. A-Award 24,806.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 1,817.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 1,224.00 $0.00 $0
2026-03-23 DIORIO CHRIS PH.D. M-Exempt 2,594.00 $0.00 $0
2026-02-20 Baker Cary A-Award 8,508.00 $0.00 $0
2026-02-20 Baker Cary F-InKind 2,234.00 $127.92 $285,773
2026-02-20 DIORIO CHRIS PH.D. A-Award 21,734.00 $0.00 $0
2026-02-20 DIORIO CHRIS PH.D. F-InKind 7,435.00 $127.92 $951,085
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27