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Varex Imaging vs Impinj: VREX and PI compared
Varex Imaging is the larger company: $210M of revenue in its latest quarter (Q3 FY26) against $112M for Impinj (Q3 2026). Impinj is growing faster (+17% against +4% a year earlier). Varex Imaging is more profitable, with an operating margin of 10.8% against 4.1%.
Where the money goes: VREX and PI
Varex Imaging (VREX) · Q3 FY26
Varex Imaging, Q3 FY26: revenue $210M (+4% year over year), operating margin 10.8%, net earnings $15.9M, operating cash flow $21.0M. The chart follows the revenue to costs, profit and cash.
Impinj (PI) · Q3 2026
Impinj, Q3 2026: revenue $112M (+17% year over year), operating margin 4.1%, net earnings $4.7M, operating cash flow $25.6M. The chart follows the revenue to costs, profit and cash.
| Varex Imaging (VREX) | Impinj (PI) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $210M | $112M |
| Revenue growth, Y/Y | +4% | +17% |
| Gross margin | 36.4% | 52.8% |
| Operating margin | 10.8% | 4.1% |
| Net earnings | $15.9M | $4.7M |
| Net margin | 7.6% | 4.2% |
| Operating cash flow | $21.0M | $25.6M |
| Free cash flow | $12.0M | $20.6M |
| Market value | — | $6.0B |
| Analysts’ mean target | — | $206.44 |
Where the revenue comes from
Varex Imaging
- Medical: $134M (64%)
- Industrial: $76.5M (36%)
Impinj
- Endpoint I Cs: $97.3M (87%)
- Systems: $14.8M (13%)
Questions
Which is bigger, Varex Imaging or Impinj?
Varex Imaging is the larger company: $210M of revenue in its latest quarter (Q3 FY26) against $112M for Impinj (Q3 2026).
Is Varex Imaging or Impinj growing faster?
Impinj is growing faster (+17% against +4% a year earlier).
Which is more profitable, Varex Imaging or Impinj?
Varex Imaging is more profitable, with an operating margin of 10.8% against 4.1%.
More: Varex Imaging earnings · how Varex Imaging makes money · Impinj earnings · how Impinj makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.