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Impinj (PI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Impinj (PI) Q3 2026 earnings results →
Q3 2026 Revenue up 17% year over year to $112M · 4¢ of every $1 of revenue kept as net profit · operating margin 4.1%
Impinj made $112M in Q3 2026 (+17% Y/Y): Endpoint I Cs $97.3M, Systems $14.8M. Operating margin 4.1%, net earnings $4.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $112.1M in Q3 2026, up 17% year over year and up 3% from the previous quarter. Endpoint I Cs was the largest line at 87% of revenue. Endpoint I Cs added $18.5M year over year (up 24%), 116% of the total change. Systems declined 15%.
Gross margin was 52.8%, up 2.4 points from Q3 2025. Operating profit was $4.6M, a 4.1% margin (up 3.4 points year over year). Of the extra revenue versus Q3 2025, 25% reached operating profit, above the 1% margin then. Operating expenses grew 14% against revenue growth of 17%. The fastest-growing cost line was Research & development (+19%). Net earnings were $4.7M. The effective tax rate was 0.8%.
Operating cash flow was $25.6M (up 23% year over year), 548% of net earnings. Non-cash charges added back $3.8M of depreciation and amortization and $16.1M of share-based compensation. Capital expenditures of $5.0M left free cash flow of $20.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $112M | +17% | 4.1% | $4.7M | $25.6M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $108M | +11% | 9.7% | $12.2M | $31.6M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $74.2M | 0% | -20.4% | −$25.3M | $4.0M |
| Q4 2025 | 10-K | Feb 9, 2026 | $92.8M | +1% | -2.9% | −$1.1M | $15.1M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $96.1M | +0.9% | 0.7% | −$12.8M | $20.9M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $97.9M | -4% | 11.1% | $11.6M | $33.9M |
| Q1 2025 | 10-Q | Apr 23, 2025 | $74.3M | -3% | -12.9% | −$8.5M | −$11.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Impinj
Impinj (Nasdaq: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com Impinj is a registered trademark of Impinj, Inc. All other trademarks are the property of their owners.
In its own words, from its 8-K, filed Jul 29, 2026.
Impinj against its Electronic Components, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median +40%. Operating margin: 4.1% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PI Impinj | Q3 2026 | $112M | +17% | 4.1% |
| VRT Vertiv Holdings | Q3 2026 | $4.3B | +61% | 22.8% |
| AEIS Advanced Energy Industries | Q3 2026 | $696M | +50% | 20.6% |
| VREX Varex Imaging | Q3 FY26 | $210M | +4% | 10.8% |
| VICR Vicor | Q3 2026 | $197M | +78% | 36.6% |
| NSYS Nortech Systems | Q2 2026 | $33.5M | +9% | 1.9% |
| MPTI M-tron Industries | Q2 2026 | $15.1M | +14% | 11.4% |
| ESP Espey Manufacturing & Electronics | Q4 FY26 | $13.5M | +40% | 25.8% |
| MVIS Microvision | Q3 2026 | $2.4M | +896% | -889.0% |
Source: Impinj 10-Q on SEC EDGAR · CIK 1114995 · Electronic Components, NEC
13F: who owns PI and who is buying
More on PI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Impinj guidance history: guided vs reported
- Impinj gross margin by quarter
- Impinj operating margin by quarter
- Impinj net income by quarter
- Impinj free cash flow by quarter
- Impinj R&D spending by quarter
- Impinj capital expenditures by quarter
- Impinj Endpoint I Cs revenue by quarter
- Impinj Systems revenue by quarter