Filing Flows › Impinj (PI) › Q2 2026 › vs Q1 2026
Impinj (PI) Q2 2026 vs Q1 2026 (quarter over quarter)
Impinj's revenue rose $34.1M (+46%) from $74.2M in Q1 2026 to $108M in Q2 2026. The biggest changes: Endpoint I Cs +$33.2M (+53%); Systems +$929K (+8%). Gross margin 58.6% against 49.1% (+9.5 pts).
Impinj, Q2 2026: revenue $108M (+11% year over year), operating margin 9.7%, net earnings $12.2M, operating cash flow $31.6M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 58.6% | 49.1% | +9.5 pts |
| Operating margin | 9.7% | -20.4% | +30.1 pts |
| Net margin | 11.3% | -34.0% | +45.3 pts |
| Free cash flow margin | 26.9% | 3.0% | +23.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Endpoint I Cs | $96.4M | $63.2M | $33.2M | +53% |
| Systems | $12.0M | $11.0M | $929K | +8% |
| Revenue | $108M | $74.2M | $34.1M | +46% |
| Gross profit | $63.5M | $36.5M | $27.1M | +74% |
| Cost of revenue | $44.8M | $37.8M | $7.0M | +19% |
| Other income, net | $1.6M | −$10.0M | $11.7M | — |
| Operating profit | $10.5M | −$15.2M | $25.7M | — |
| Operating expenses | $53.0M | $51.6M | $1.4M | +3% |
| Pre-tax earnings | $12.1M | −$25.2M | $37.3M | — |
| Research & development | $29.3M | $28.7M | $538K | +2% |
| Sales & marketing | $9.8M | $9.8M | $72K | +0.7% |
| General & admin | $13.4M | $12.6M | $795K | +6% |
| Other operating costs | $534K | $537K | −$3K | -0.6% |
| Income tax benefit | $92K | −$48K | $140K | — |
| Net earnings | $12.2M | −$25.3M | $37.5M | — |
| Depreciation & amortization | $3.9M | $3.8M | $44K | +1% |
| Share-based compensation | $16.3M | $14.7M | $1.6M | +11% |
| Working capital & other | $800K | −$10.7M | $11.5M | — |
| Operating cash flow | $31.6M | $4.0M | $27.6M | +694% |
| Free cash flow (OCF − capex) | $29.2M | $2.2M | $27.0M | 13× |
| Capital expenditures | $2.4M | $1.7M | $672K | +38% |
Questions
How much did Impinj's revenue grow quarter over quarter in Q2 2026?
Impinj's revenue rose $34.1M (+46%) from $74.2M in Q1 2026 to $108M in Q2 2026.
What drove Impinj's revenue change in Q2 2026?
Endpoint I Cs +$33.2M (+53%); Systems +$929K (+8%).