Filing Flows › Impinj (PI) › Q3 2025
Impinj (PI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Impinj (PI) reported revenue of $96.1M for the third quarter 2025 (Q3 2025), +0.9% from a year earlier and -2% from the quarter before. Operating margin was 0.7%, net loss $12.8M (13.3% of revenue).
Impinj, Q3 2025: revenue $96.1M (+0.9% year over year), operating margin 0.7%, net loss $12.8M, operating cash flow $20.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $96.1M | -2% | +0.9% |
| Operating profit | $656K | -94% | — |
| Net earnings | −$12.8M | -211% | — |
| Operating cash flow | $20.9M | -38% | +108% |
| Free cash flow | $18.0M | -34% | +286% |
What changed
Revenue was $96.1M in Q3 2025, up 1% year over year and down 2% from the previous quarter. Endpoint I Cs was the largest line at 82% of revenue. Systems added $3.0M year over year (up 21%), 355% of the total change. Endpoint I Cs declined 3%.
Gross margin was 50.3%, up 0.3 points from a year earlier. Operating profit was $656K, a 0.7% margin (up 1.5 points year over year). Operating expenses fell 1% while revenue rose 1%. The quarter ended with a net loss of $12.8M, after a profit of $11.6M the previous quarter. Net interest and other expense of $13.6M was the main reason.
Operating cash flow was $20.9M (up 108% year over year). Non-cash charges added back $3.9M of depreciation and amortization and $14.6M of share-based compensation. Working capital and other items added $15.3M. Capital expenditures of $2.9M left free cash flow of $18.0M.
Questions
What was Impinj's revenue in the third quarter 2025?
Impinj (PI) reported revenue of $96.1M for the third quarter 2025 (Q3 2025), +0.9% from a year earlier and -2% from the quarter before.
Was Impinj profitable in the third quarter 2025?
Operating profit was $656K (0.7% of revenue) and net loss $12.8M.
Source: Impinj 10-Q on SEC EDGAR.