Filing Flows › Impinj (PI) › Q2 2025
Impinj (PI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Impinj (PI) reported revenue of $97.9M for the second quarter 2025 (Q2 2025), -4% from a year earlier and +32% from the quarter before. Operating margin was 11.1%, net earnings $11.6M (11.8% of revenue).
Impinj, Q2 2025: revenue $97.9M (-4% year over year), operating margin 11.1%, net earnings $11.6M, operating cash flow $33.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $97.9M | +32% | -4% |
| Gross profit | $56.6M | +54% | -2% |
| Operating profit | $10.9M | — | +20% |
| Net earnings | $11.6M | — | +16% |
| Operating cash flow | $33.9M | — | -26% |
| Free cash flow | $27.3M | — | -38% |
What changed
Revenue was $97.9M in Q2 2025, down 4% year over year and up 32% from the previous quarter. Endpoint I Cs was the largest line at 86% of revenue. Endpoint I Cs lost $4.8M year over year (down 5%), 104% of the total change.
Gross margin was 57.8%, up 1.7 points from a year earlier. Operating profit was $10.9M, a 11.1% margin (up 2.3 points year over year). Operating expenses fell 6% while revenue fell 4%. Net earnings were $11.6M, up 16% year over year. The effective tax rate was 1.3%.
Operating cash flow was $33.9M (down 26% year over year), 293% of net earnings. Non-cash charges added back $3.7M of depreciation and amortization and $13.0M of share-based compensation. Working capital and other items added $5.6M. Capital expenditures of $6.5M left free cash flow of $27.3M.
Questions
What was Impinj's revenue in the second quarter 2025?
Impinj (PI) reported revenue of $97.9M for the second quarter 2025 (Q2 2025), -4% from a year earlier and +32% from the quarter before.
Was Impinj profitable in the second quarter 2025?
Operating profit was $10.9M (11.1% of revenue) and net earnings $11.6M.
Source: Impinj 10-Q on SEC EDGAR.