Filing Flows › Impinj (PI) › Q4 2025
Impinj (PI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 9, 2026
Impinj (PI) reported revenue of $92.8M for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and -3% from the quarter before. Operating margin was -2.9%, net loss $1.1M (1.2% of revenue).
Impinj, Q4 2025: revenue $92.8M (+1% year over year), operating margin -2.9%, net loss $1.1M, operating cash flow $15.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $92.8M | -3% | +1% |
| Operating profit | −$2.7M | -511% | — |
| Net earnings | −$1.1M | — | — |
| Operating cash flow | $15.1M | -28% | +20% |
| Free cash flow | $13.6M | -24% | +60% |
What changed
Revenue was $92.8M in Q4 2025, up 1% year over year and down 3% from the previous quarter. Endpoint I Cs was the largest line at 81% of revenue.
Gross margin was 51.8%, up 1.3 points from a year earlier. Operating costs exceeded revenue by $2.7M, an operating margin of -2.9%. Operating expenses grew 2% against revenue growth of 1%. The quarter ended with a net loss of $1.1M, narrower than the previous quarter's $12.8M loss. Non-operating items added $1.7M, -173% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $15.1M (up 20% year over year). Non-cash charges added back $4.0M of depreciation and amortization and $15.2M of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $1.5M left free cash flow of $13.6M.
Questions
What was Impinj's revenue in the fourth quarter 2025?
Impinj (PI) reported revenue of $92.8M for the fourth quarter 2025 (Q4 2025), +1% from a year earlier and -3% from the quarter before.
Was Impinj profitable in the fourth quarter 2025?
Operating loss was $2.7M (-2.9% of revenue) and net loss $1.1M.
Source: Impinj 10-K on SEC EDGAR.