Impinj (PI) financial statements
Impinj reported revenue of $361M in fiscal 2025, up 13.9% a year over 9 years.
Net income was -$11M and the operating margin -0.2%, against -0.4% in 2016.
Free cash flow was $46M.
The diluted share count rose 172% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Impinj's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $112M | $125M | $123M | $153M | $139M | $190M | $258M | $308M | $366M | $361M |
| Cost of revenue | $53M | $60M | $64M | $79M | $74M | $91M | $120M | $156M | $177M | $171M |
| Gross profit | $59M | $65M | $58M | $74M | $65M | $99M | $138M | $152M | $189M | $190M |
| Research and development | $25M | $32M | $34M | $39M | $49M | $64M | $74M | $89M | $99M | $103M |
| Selling, general and admin | $35M | $50M | $55M | $57M | $64M | $70M | $83M | $102M | $92M | $86M |
| Operating income | -$488,000 | -$17M | -$35M | -$22M | -$47M | -$37M | -$19M | -$43M | -$7M | -$737,000 |
| Interest expense | $2M | $908,000 | $1M | $2M | $5M | $3M | $5M | $5M | $5M | $4M |
| Pre-tax income | -$2M | -$17M | -$35M | -$23M | -$52M | -$51M | -$24M | -$44M | $41M | -$11M |
| Income tax | $168,000 | -$97,000 | -$233,000 | $198,000 | $89,000 | $153,000 | $184,000 | -$322,000 | $157,000 | -$69,000 |
| Net income | -$2M | -$17M | -$35M | -$23M | -$52M | -$51M | -$24M | -$43M | $41M | -$11M |
| EPS (diluted) | -$0.74 | -$0.84 | -$1.65 | -$1.05 | -$2.28 | -$2.12 | -$0.95 | -$1.62 | $1.39 | -$0.37 |
| Diluted shares | 11M | 21M | 21M | 22M | 23M | 24M | 26M | 27M | 29M | 29M |
| Gross margin | 52.9% | 51.8% | 47.5% | 48.4% | 46.9% | 52.0% | 53.5% | 49.4% | 51.6% | 52.5% |
| Operating margin | -0.4% | -13.6% | -28.4% | -14.2% | -33.9% | -19.6% | -7.6% | -14.1% | -1.9% | -0.2% |
| Net margin | -1.5% | -13.8% | -28.7% | -15.0% | -37.4% | -26.9% | -9.4% | -14.1% | 11.2% | -3.0% |
Balance sheet
Fiscal years, from Impinj's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $101M | $58M | $56M | $116M | $106M | $193M | $174M | $113M | $165M | $175M |
| Receivables | $17M | $22M | $18M | $24M | $25M | $35M | $50M | $55M | $57M | $71M |
| Inventory | $28M | $47M | $45M | $34M | $36M | $22M | $46M | $97M | $99M | $85M |
| Total current assets | $149M | $130M | $121M | $177M | $171M | $256M | $275M | $270M | $326M | $339M |
| Property, plant and equipment | $15M | $18M | $20M | $17M | $17M | $28M | $39M | $45M | $51M | $50M |
| Goodwill | $4M | — | — | — | — | $4M | $4M | $20M | $19M | $21M |
| Total assets | $168M | $152M | $145M | $215M | $208M | $316M | $350M | $359M | $489M | $545M |
| Total current liabilities | $25M | $20M | $23M | $19M | $28M | $36M | $42M | $31M | $331M | $127M |
| Long-term debt | $10M | $6M | $18M | $51M | $55M | $279M | $280M | $282M | — | $184M |
| Total liabilities | $44M | $33M | $47M | $90M | $98M | $327M | $334M | $325M | $339M | $336M |
| Shareholders' equity | $124M | $119M | $98M | $125M | $109M | -$11M | $16M | $34M | $150M | $209M |
| Net debt | -$21M | -$10M | $6M | -$16M | $31M | $164M | $261M | $187M | $237M | $233M |
Cash flow
Fiscal years, from Impinj's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9M | -$36M | -$12M | $5M | -$17M | $6M | $641,000 | -$49M | $128M | $59M |
| Capital spending | $4M | $7M | $6M | $2M | $3M | $16M | $12M | $19M | $17M | $13M |
| Free cash flow | -$13M | -$42M | -$18M | $2M | -$20M | -$10M | -$11M | -$68M | $111M | $46M |
| Stock-based compensation | $3M | $7M | $11M | $18M | $26M | $40M | $42M | $48M | $57M | $55M |
| Net borrowing | -$4M | -$3M | $14M | -$24M | — | — | -$18M | — | — | -$190M |
| Free cash flow margin | -11.6% | -33.9% | -14.8% | 1.5% | -14.4% | -5.1% | -4.4% | -22.1% | 30.4% | 12.7% |
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Open PI in InvestinglyQuestions
What was Impinj's revenue in 2025?
$361M in fiscal 2025, from its 10-K filing.
How much free cash flow does Impinj generate?
$46M in fiscal 2025 (operating cash flow minus capital spending).
From Impinj's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.