PI
Impinj, Inc.161.01
+7.72+5.04%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Unpacks Q1 burns, strong bookings
Q&A drilled into Q1's high-teens endpoint IC decline: few weeks of logistics channel inventory burn-down at $5M per week, plus $2M pricing and retail weakness—yet January turns doubled Q4 levels, rescheduling normalized, and bookings hit guide midpoint. Custom IC for second-largest logistics customer ships now, priced to market, with full 2026 switch improving visibility versus fungible M800. Apparel normalizes Q2 amid new wins like Abercrombie; logistics fix may spill over. No share losses to rivals. Gen2X drives solutions edge. Management stayed bullish on rebound. Watch destocking speed.
Key Stats
Market Cap
4.85BP/E (TTM)
-Basic EPS (TTM)
-0.43Dividend Yield
0%Recent Filings
8-K
10-K
FY2025 results
Impinj's FY2025 revenue dipped 1% y/y to $361M, with endpoint ICs down 2% to $300M on lower ASPs despite higher volumes, while systems edged up 2% to $61M. Gross margin expanded 0.9 points to 52.5% from favorable IC mix and lower indirect costs, driving near-breakeven ops at -$0.7M loss versus -$7M prior year. Q4 momentum showed through higher systems shipments offsetting IC pricing pressure; annual net loss narrowed to $11M from one-off $45M NXP settlement gain in 2024. Liquidity strengthened to $175M cash/investments with $281M debt post-$190M note exchange, no dividends or buybacks. No 2026 guidance disclosed. Customer concentration persists at 61%. RAIN adoption remains uneven, risking quarterly volatility.
8-K
Q4 revenue $92.8M, EBITDA record
8-K
Q4 revenue, EBITDA beat guidance
8-K
Impinj bolsters exec severance
Impinj amended CEO Chris Diorio's employment agreement and adopted a new Executive Change in Control and Severance Policy on December 19, 2025, boosting protections for Diorio and executives like CFO Cary Baker and Chief Innovation Officer Cathal Phelan. Change-of-control terminations now trigger CEO lump-sum 200% base salary, full equity vesting, and 24 months COBRA; executives get 100% base plus bonus and full vesting. Retention sharpened. Policies cut golden parachutes with no tax gross-ups.
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