Impinj (NasdaqGS:PI) Q4 2025 Earnings call February 05, 2026 05:00 PM ET Speaker9Welcome to Impinj's fourth quarter and full year 2025 financial results conference call and webcast. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, p ...

Investor Presentation Fourth Quarter 2025 Forward Looking Statement & Non-GAAP Financial Measures This presentation and the accompanying oral commentary contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any statements about or relating to expectations, projections, trends, plans, ambitions, strategies, and objectives of managemen ...

Company Overview - Impinj, Inc. is a significant player in the Internet of Things (IoT) sector, providing a cloud connectivity platform for industries such as retail, supply chain, and healthcare, with components that enable efficient item tracking and data delivery [1] Analyst Sentiment - The consensus price target for Impinj has decreased from an average of $226.38 to $190 over the past year, indicating a more cautious outlook from analysts [2][6] - Piper Sandler's analyst Harsh Kumar has set a notably lower price target of $80, reflecting a pessimistic view on the company's performance [2][6] Financial Performance - Impinj has raised its profit and revenue forecasts, yet its stock has declined, suggesting that investor expectations may have been higher than the guidance provided [3][6] - Despite a 28.6% decline in stock price over the past four weeks, the company is now considered technically oversold, indicating a potential easing of selling pressure and a possible trend reversal [5][6] Market Challenges - The company has released research on global supply chain challenges, highlighting the tension between rising consumer expectations and supply chain capabilities, which is crucial for understanding its strategic direction [4]

Summary of Impinj Conference Call Company Overview - **Company**: Impinj - **Event**: 28th Annual Medium Growth Conference - **Key Speakers**: CEO Chris Diorio, CFO Cary Baker, VP Andy Cobb Key Industry Insights - **Industry**: RAIN RFID technology in retail and logistics - **Event Highlights**: - NRF trade show showcased significant activity around RAIN RFID technology - Gen2X enhancements were prevalent, improving readability and performance in the field [4][7] - Increased focus on food retail adoption, with notable advancements in tagging perishable items [8][51] Financial Performance - **Q4 2025 Revenue Guidance**: Expected near the high end of $90-$93 million, with Adjusted EBITDA above the midpoint of $15.4-$16.9 million [4] - **Gross Margin**: Non-GAAP gross margin increased by over 125 basis points sequentially [4] Product Developments - **Gen2X Technology**: - Enhances communication reliability between readers and tags, improving inventory accuracy and reducing labor costs [63] - Adoption by multiple partners, including EM Microelectronic as a strategic partner for endpoint ICs [17][66] - **M800 IC**: - Key driver for revenue growth, contributing to improved gross margins [67] Market Trends - **Retail Adoption**: - Transition from handheld to fixed reading opportunities in retail stores, enhancing inventory management [29][30] - Strong engagement with lighthouse enterprises, driving innovation and adoption [32][34] - **Logistics Sector**: - Active pipeline with multiple pilots underway, indicating strong interest in RAIN RFID solutions [42] Strategic Partnerships - **Collaboration with EM Microelectronic**: - Licensing of Gen2X technology to enhance product offerings and ensure multiple sources of supply for endpoint ICs [17][21] - **Walmart and Kroger Initiatives**: - Walmart's phased approach to RAIN RFID adoption across various categories, with significant potential for endpoint IC sales [46][49] - Kroger's successful implementation of RAIN RFID in bakery departments, significantly reducing inventory time [60] Future Outlook - **Food Category**: - Slow but steady adoption expected, with significant long-term potential as economics improve [54][56] - **Long-term Financial Goals**: - Revenue targets of $500 million to $750 million with gross margins of 55%-57% and operating margins of 19%-25% [73][74] - **Capital Allocation**: - Focus on reducing convertible debt and exploring M&A opportunities, with a high threshold for potential acquisitions [76][77] Conclusion - Impinj is positioned strongly within the RAIN RFID market, with promising developments in technology and strategic partnerships. The company is focused on driving adoption in retail and logistics, particularly in the food sector, while maintaining a clear path towards achieving long-term financial goals.

Core Viewpoint - Impinj's stock fell 7% despite the company hinting it might exceed analyst expectations for Q4 sales, with guidance suggesting sales between $90 million and $93 million, while analysts expect less than $92 million [1][3]. Group 1: Sales and Earnings Guidance - Impinj updated its Q4 sales guidance, indicating it expects to report revenue towards the high end of its range [1][7]. - The company noted that its adjusted EBITDA will be above the midpoint of its previous guidance of $15.4 million to $16.9 million, but did not provide a GAAP earnings figure [4]. Group 2: Analyst Expectations and Stock Valuation - Analysts predict a GAAP loss of $0.35 per share for 2025, with a non-GAAP profit expected. They forecast a return to positive earnings of $0.62 per share this year, which would be less than half of what Impinj earned in 2024 [5]. - The stock is projected to be valued at more than 300 times forward earnings, which analysts suggest is excessively high, leading to a recommendation for investors to sell [5].

Core Insights - The Internet of Things (IoT) player has raised its profit and revenue forecasts, indicating positive growth expectations, but investors were anticipating even higher results [1] Group 1 - The company has increased its profit forecast, reflecting confidence in its operational performance [1] - Revenue projections have also been raised, suggesting a strong demand for its IoT products and services [1] - Despite the positive adjustments, investor sentiment remains cautious as they were looking for more substantial growth figures [1]

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Delaware 001-37824 91-2041398 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 13, 2026 Impinj, Inc. (Exact name of registrant as specified in its charter) 400 Fairview Avenue North, Suite 1200 Seattle, Washington 98109 (Address o ...

Core Viewpoint - Impinj, Inc. has announced a licensing agreement with EM Microelectronic to integrate Impinj Gen2X into future EM endpoint integrated circuits, aiming to enhance the ecosystem of product and technology providers [1] Company Summary - Impinj, Inc. is a leading provider of RAIN RFID technology and a pioneer in the Internet of Things [1] - EM Microelectronic specializes in the design and production of ultra-low power, low voltage integrated circuits [1] Industry Summary - The collaboration between Impinj and EM Microelectronic is expected to deliver powerful solutions across various markets, indicating a commitment to expanding the RAIN RFID ecosystem [1]

Core Insights - The execution price of approximately $167.25 per share for the shares sold by Sylebra Capital LLC exceeded the market open and close prices on December 5, 2025, indicating a favorable transaction for the seller [1][5][6] - Sylebra Capital's indirect holdings in Impinj were reduced by 2.96% due to the sale, with the total indirect position decreasing from 1,545,598 shares to 1,499,837 shares [3][5] - The number of shares sold (45,761) was below Sylebra's historical median for open-market sales, suggesting a trend of smaller lot sizes as available holdings decrease [4][5] Company Overview - Impinj is a technology company that specializes in cloud connectivity platforms for tracking individual items in various sectors, including retail, supply chain, and healthcare [9][11] - The company reported a market capitalization of $6.08 billion and a revenue of $359.8 million for the trailing twelve months (TTM) [7] - Impinj's stock experienced a 10% decline over the past year, but it has shown significant growth over a five-year period, increasing by 335% [13] Market Position and Trends - Impinj's RFID technology is increasingly mandated by major retailers like Walmart, which has expanded its requirements for RFID tags across various product categories [14][15] - The company has surpassed shipments of 5 billion of its M800 series endpoint IC products, solidifying its leadership in the RFID industry [15]