Impinj, Inc. (PI) Earnings
Impinj, Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.81. PI has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +13.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.11 | $0.14 | +27.3% | $74M | +2.4% |
| Feb 5, 2026 | $0.50 | $0.50 | +0.0% | $93M | +2.6% |
| Oct 29, 2025 | $0.51 | $0.58 | +13.7% | $96M | +4.6% |
| Jul 30, 2025 | $0.71 | $0.80 | +12.7% | $98M | +5.9% |
| Apr 23, 2025 | $0.09 | $0.21 | +133.3% | $74M | -19.6% |
| Feb 5, 2025 | $0.48 | $0.48 | +0.0% | $92M | -1.5% |
| Oct 23, 2024 | $0.47 | $0.56 | +19.1% | $95M | +2.6% |
| Jul 24, 2024 | $0.73 | $0.83 | +13.7% | $102M | +5.1% |
| Feb 8, 2024 | $0.02 | $0.09 | +295.6% | $71M | +3.4% |
| Oct 25, 2023 | $-0.10 | $-0.36 | -260.0% | $65M | +0.4% |
| Jul 26, 2023 | $0.31 | $0.33 | +6.5% | $86M | +1.2% |
| Feb 8, 2023 | $0.42 | $0.41 | -2.4% | $77M | +1.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Chris DiOrio noted first quarter results were solid with revenue and adjusted EBITDA exceeding guide range, endpointIC bookings record. - Discussed market opportunities in supply chain and logistics, retail apparel, general merchandise, food. - Mentioned growing software and solutions teams, upgrading reader processor and memory, advancing Gen2x. - Highlighted progress in various sectors and engagement with new end users. - Kerry Baker provided detailed financial review including revenue, gross margin, operating expense, adjusted EBITDA, balance sheet details.
Guidance
- Expect second quarter revenue between 103 and 106 million, a year-over-year increase of 7% at the midpoint. - Expect adjusted EBITDA between $27.8 and $29.3 million. - Expect non-GAAP net income between $24.6 and $26.1 million, reflecting non-GAAP fully diluted earnings per share between $0.77 and $0.82. - Expect second quarter product gross margin to increase sequentially. - Expect similar operating expense to first quarter in second quarter.
Segment performance
First quarter revenue was $74.3 million. EndpointIC bookings hit an all-time record. First quarter endpoint IC revenue was $63.2 million, down 16% sequentially but up 3% year-over-year. Systems revenue was $11 million, down 37% sequentially and 15% year-over-year. First quarter gross margin was 52.4%. Total first quarter operating expense was $35.5 million. First quarter adjusted EBITDA was 3.4 million. First quarter gap net loss was 25.3 million. First quarter non-gap net income was 4.4 million or 14 cents per share on a fully diluted basis. EndpointIC market share grew 1,700 basis points over 2024. Inlay partner inventory declined sequentially. Supply chain and logistics: custom ASIC volumes shifted in first quarter and expected to more than double in second, with end user on track to convert to ASIC by year end. Retail apparel: endpoint IC demand expected to increase in second quarter with multiple new end users. General merchandise: focused on cosmetics, personal care, health. Food: volumes growing modestly with bakery rollout on track.
Risks & headwinds
- Unpredictable macro environment could impact actual results. - Indirect cost of goods sold increased in first quarter due to short-term endpoint IC production issue. - Macroeconomic factors could affect consumer demand and order patterns.
Analyst Q&A
Q: On record bookings and visibility into September quarter,
A: Kerry said strong Q1 bookings driven by ecosystem ramping custom ASIC and retail rebuys, 2Q bookings off to good start.
Q: On growth margin factors,
A: Annual price negotiations mostly complete, capacity utilization issue fixed, expect product gross margin increase in Q2.
Q: On improvement in Q2 product gross margin,
A: 100 basis points from production issue, M800 ramp, lost revenue scale back, higher systems revenue contribute.
Q: On OPEX in second half,
A: Expect OPEX to follow normal seasonal patterns.
Q: On retail situation,
A: Chris said see retail strength with rebuys and new program growth.
Q: On NXP royalty,
A: Don't know if NXP's new chip violates IP, guardedly optimistic for next year's payment.
Q: On European grocery opportunity,
A: Excited about large opportunity, met and exceeded readability targets, waiting for store pilot decision.
Q: On ASIC opportunity moving upstream,
A: Second large North American supply chain end user as partner, opportunity to pull into other accounts.
Q: On competitive landscape,
A: Competitor ICs had channel issues, our product portfolio and Gen2x will drive market success.
Q: On 2026 factors,
A: Chris ranked enterprise solutions, Gen2x, retail, general merchandise and food as key factors.
Q: On macro concern and order patterns,
A: Not seeing current impact, but being prudent, no current pullbacks.
Q: On European food opportunity and DPP,
A: Grocery opportunity doesn't require DPP, DPP delegated act for textiles in 2027 with grace period, expect to be key part of DPP but at measured pace.