PI · Impinj Inc - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · PI

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$361.07M	$366.09M	$307.54M	$257.80M	$190.28M	$138.92M
Cost of Revenue	$171.40M	$177.23M	$155.56M	$119.92M	$91.33M	$73.78M
Gross Profit	$189.68M	$188.85M	$151.98M	$137.88M	$98.95M	$65.14M
R&D	$102.61M	$98.83M	$88.56M	$74.11M	$64.06M	$48.59M
SG&A	$49.19M	$51.80M	$60.83M	$45.47M	$36.14M	$34.96M
Total Operating Expenses	$190.41M	$195.92M	$195.47M	$157.36M	$136.20M	$112.21M
D&A	$15.04M	$13.59M	$4.60M	$6.04M	$4.60M	$4.50M
Operating Income	($737.0K)	($7.07M)	($43.48M)	($19.48M)	($37.25M)	($47.07M)
Interest Expense	$4.37M	$4.87M	$4.85M	$4.92M	$2.55M	$5.41M
Income Tax	($69.0K)	$157.0K	($322.0K)	$184.0K	$153.0K	$89.0K
Net Income	($10.85M)	$40.84M	($43.37M)	($24.30M)	($51.26M)	($51.92M)
EPS - Basic	($0.37)	$1.46	($1.62)	($2.28)	($2.12)◇	-
EPS - Diluted	($0.37)	$1.39	($1.62)	($2.28)	($2.12)◇	-

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$48.21M	$46.05M	$94.79M	$19.60M	$123.90M	$23.64M
Accounts Receivable	$70.78M	$56.80M	$54.92M	$50.00M	$35.45M	$25.00M
Inventory	$84.96M	$99.35M	$97.17M	$46.40M	$21.96M	$36.33M
Accounts Payable	$13.61M	$17.25M	$8.66M	$25.02M	$11.73M	$10.14M
Current Assets	$339.22M	$326.40M	$269.70M	$275.17M	$255.80M	$171.36M
Total Assets	$545.19M	$489.08M	$359.41M	$349.74M	$315.54M	$207.62M
Current Liabilities	$126.53M	$331.18M	$30.88M	$42.37M	$35.50M	$27.59M
Long-term Debt	$184.14M	$0◇	$281.86M	$280.24M	$278.66M	$54.56M
Total Liabilities	$335.95M	$339.22M	$325.28M	$334.15M	$326.61M	$98.50M
Stockholders' Equity	$209.23M	$149.86M	$34.13M	$15.59M	($11.08M)	$109.12M
Retained Earnings	($400.16M)	($389.31M)	($430.15M)	($386.79M)	($362.48M)	($314.67M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$58.75M	$128.31M	($49.38M)	$641.0K	$6.46M	($16.88M)
Investing Cash Flow	($48.02M)	($192.57M)	$115.81M	($102.80M)	($18.64M)	($36.29M)
Financing Cash Flow	($8.93M)	$15.68M	$8.74M	($2.15M)	$112.44M	$9.90M
CapEx	$12.86M	$17.11M	$18.59M	$12.08M	$16.23M	$3.07M
Free Cash Flow	$45.88M	$111.20M	($67.97M)	($11.44M)	($9.77M)	($19.95M)

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	52.5%	51.6%	49.4%	53.5%	52.0%	46.9%
Operating margin	-0.2%	-1.9%	-14.1%	-7.6%	-19.6%	-33.9%
EBITDA margin	4.0%	1.8%	-12.6%	-5.2%	-17.2%	-30.6%
Net margin	-3.0%	11.2%	-14.1%	-9.4%	-26.9%	-37.4%
Free cash flow margin	12.7%	30.4%	-22.1%	-4.4%	-5.1%	-14.4%
FCF / Net income	-4.23	2.72	1.57	0.47	0.19	0.38
R&D / Revenue	28.4%	27.0%	28.8%	28.7%	33.7%	35.0%
SG&A / Revenue	13.6%	14.2%	19.8%	17.6%	19.0%	25.2%
Effective tax rate	-	0.4%	-	-	-	-
Return on assets	-2.0%	8.3%	-12.1%	-6.9%	-16.2%	-25.0%
Return on equity	-5.2%	27.3%	-127.1%	-155.9%	462.8%	-47.6%
Return on invested capital	-0.1%	-4.7%	-10.9%	-5.2%	-11.0%	-22.7%
Liquidity
Current ratio	2.68	0.99	8.73	6.49	7.21	6.21
Quick ratio	2.01	0.69	5.59	5.40	6.59	4.89
Cash ratio	0.38	0.14	3.07	0.46	3.49	0.86
Leverage
Debt / Equity	0.88	0.00	8.26	17.97	-25.16	0.50
Debt / Assets	0.34	0.00	0.78	0.80	0.88	0.26
Debt / EBITDA	12.87	0.00	-	-	-	-
Interest coverage	-0.2x	-1.5x	-9.0x	-4.0x	-14.6x	-8.7x
Equity multiplier	2.61	3.26	10.53	22.43	-28.49	1.90
Liabilities / Assets	0.62	0.69	0.91	0.96	1.04	0.47
Efficiency
Asset turnover	0.66	0.75	0.86	0.74	0.60	0.67
Inventory turnover	2.02	1.78	1.60	2.58	4.16	2.03
Days sales outstanding	72d	57d	65d	71d	68d	66d
Days inventory outstanding	181d	205d	228d	141d	88d	180d
Days payable outstanding	29d	36d	20d	76d	47d	50d
Cash conversion cycle	223d	226d	273d	136d	109d	195d
Valuation
P / E	-	104.5x	-	-	-	-
P / B	24.4x	28.6x	70.6x	159.8x	-	-
P / S	14.1x	11.7x	7.8x	9.7x	11.3x	-
EV / EBITDA	365.8x	649.6x	-	-	-	-
Growth
Revenue growth (YoY)	-1.4%	19.0%	19.3%	35.5%	37.0%	-9.1%
Revenue CAGR (3y)	11.9%	24.4%	30.3%	19.0%	19.2%	3.5%
Revenue CAGR (5y)	21.0%	19.1%	22.3%	15.5%	11.1%	-
Gross profit growth (YoY)	0.4%	24.3%	10.2%	39.3%	51.9%	-12.0%
Operating income growth (YoY)	89.6%	83.7%	-123.2%	47.7%	20.9%	-117.3%
Net income growth (YoY)	-	-	-78.5%	52.6%	1.3%	-125.9%
EPS growth (YoY)	-	-	28.9%	-7.5%	-	-
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-58.7%	-	-494.3%	-17.1%	51.1%	-
FCF CAGR (5y)	-	117.6%	-	-	-	-
Book value growth (YoY)	39.6%	339.1%	118.9%	-	-	-12.9%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Product / service

$361.07M total

Endpoint ICs$299.81M · 83.0%

Systems$61.27M · 17.0%

Geographic

$636.67M total

Asia Pacific$209.93M · 33.0%

CN$159.20M · 25.0%

Americas$124.94M · 19.6%

US$75.10M · 11.8%

MX$41.30M · 6.5%

EMEA$26.20M · 4.1%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.58

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

5/9

Neutral

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✓Current ratio improved
✓No share dilution
✓Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Electronic Components, NEC

Company	Revenue (last FY)	Net margin	ROE
VRT	$10.23B	13.0%	33.8%
vicr	$407.70M	29.1%	16.7%
AEIS	$1.80B	8.2%	10.9%
MVIS	$1.21M	-7862.7%	-171.0%
MPTI	$54.42M	15.5%	13.4%

Comparing IMPINJ INC against the 5 most active filers in the same SIC group.

Cells marked with a small ◇ are sourced from SEC's bulk Financial Statement Data Sets, which can lose dimensional context (notably Revenue and Operating Income for issuers that report by segment). These cells will be replaced with authoritative values from the Company Facts API as the backfill completes.