Filing Flows › Impinj (PI) › Q3 2026 › vs Q3 2025
Impinj (PI) Q3 2026 vs Q3 2025 (year over year)
Impinj's revenue rose $16.0M (+17%) from $96.1M in Q3 2025 to $112M in Q3 2026. The biggest changes: Endpoint I Cs +$18.5M (+24%); Systems −$2.5M (-15%). Gross margin 52.8% against 50.3% (+2.4 pts).
Impinj, Q3 2026: revenue $112M (+17% year over year), operating margin 4.1%, net earnings $4.7M, operating cash flow $25.6M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 52.8% | 50.3% | +2.4 pts |
| Operating margin | 4.1% | 0.7% | +3.4 pts |
| Net margin | 4.2% | -13.3% | +17.5 pts |
| Free cash flow margin | 18.4% | 18.7% | -0.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Endpoint I Cs | $97.3M | $78.8M | $18.5M | +24% |
| Systems | $14.8M | $17.3M | −$2.5M | -15% |
| Revenue | $112M | $96.1M | $16.0M | +17% |
| Gross profit | $59.1M | $48.3M | $10.8M | +22% |
| Cost of revenue | $53.0M | $47.7M | $5.2M | +11% |
| Operating profit | $4.6M | $656K | $3.9M | +600% |
| Operating expenses | $54.5M | $47.7M | $6.9M | +14% |
| Pre-tax earnings | $4.7M | −$12.9M | $17.6M | — |
| Research & development | $30.6M | $25.7M | $4.9M | +19% |
| Sales & marketing | $10.3M | $9.4M | $891K | +9% |
| General & admin | $13.2M | $12.0M | $1.1M | +9% |
| Other operating costs | $511K | $537K | −$26K | -5% |
| Net earnings | $4.7M | −$12.8M | $17.5M | — |
| Income tax | $40K | −$89K | $129K | — |
| Depreciation & amortization | $3.8M | $3.9M | −$48K | -1% |
| Share-based compensation | $16.1M | $14.6M | $1.6M | +11% |
| Working capital & other | $1.0M | $15.3M | −$14.3M | -93% |
| Operating cash flow | $25.6M | $20.9M | $4.7M | +23% |
| Free cash flow (OCF − capex) | $20.6M | $18.0M | $2.6M | +15% |
| Capital expenditures | $5.0M | $2.9M | $2.1M | +71% |
Questions
How much did Impinj's revenue grow year over year in Q3 2026?
Impinj's revenue rose $16.0M (+17%) from $96.1M in Q3 2025 to $112M in Q3 2026.
What drove Impinj's revenue change in Q3 2026?
Endpoint I Cs +$18.5M (+24%); Systems −$2.5M (-15%).