Impinj(NASDAQ) PI

Impinj tracks physical items using the internet. They make chips that give objects a digital identity. This lets companies see where products are in real time.

The Items We Connect

• Endpoint ICs: Tiny radio chips attached to items that store unique identification numbers; represent the majority of revenue.
• Reader ICs: Components used in devices to find and interact with the chips on individual items.
• Reading Systems: Finished scanners and gateways used for automated inventory and item tracking in warehouses and stores.
• Label Production Systems: Equipment that helps partners create tags and labels for large-scale business deployments.

Scaling the Internet of Things

• Increased overall endpoint integrated circuit sales volumes at a 26% compounded annual growth rate from 2010 to 2025.
• Introduced Gen2X, which are compatible extensions to the industry standard for better item protection and scanner performance.
• Completed a negotiated conversion of $40.2 million in principal amount of debt in March 2026.
• Issued $190.0 million in new convertible notes in September 2025 to manage existing debt obligations.

What Sets the Platform Apart?

Impinj uses the RAIN industry standard for radio-frequency identification to ensure its products work across global networks. The company develops specialized features that help its partners track inventory more accurately than basic industry systems. These tools allow businesses to automate self-checkout and prevent loss in retail environments.

Tracking the Recent Numbers

• Revenue reached $108.4 million for the three-month period ended June 30, 2026, up $10.5 million year over year.
• Gross margin reached 58.6% for the three-month period ended June 30, 2026, up from 57.8% in 2025.
• Market cap was $4.4 billion as of the second quarter of 2026, up 35.5% year over year.
• Net income adjusted for non-cash items was $38.1 million for the six-month period ended June 30, 2026.
• Cash and short-term investments totaled $133.0 million as of June 30, 2026.

Bottom Line

Impinj has transitioned from a component maker to a platform provider connecting billions of physical items to the digital world. The company's focus on standardized radio technology and high-volume production supports its goal of universal item connectivity.