Impinj Inc 8-K, filed Oct 28, 2026

Impinj Inc (PI)

8-K 2026-10-28 For: 2026-10-28

Added on October 28, 2026

About this 8-K

Impinj Inc filed this 8-K on October 28, 2026.

Impinj reported third-quarter 2026 revenue of $112.1 million, GAAP net income of $4.7 million and adjusted EBITDA of $24.5 million, and guided fourth-quarter 2026 revenue to $104.0 to $107.0 million. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	PI	The Nasdaq Global Select Market


99.1		Press release dated October 28, 2026.

104		Inline XBRL for the cover page of this Current Report on Form 8-K.



Impinj, Inc.

By:		/s/ Chris Diorio
		Chris Diorio Chief Executive Officer


		Three Months Ending
		December 31, 2026
Revenue		$104.0 to $107.0
GAAP Net income		$1.2 to $2.7
Adjusted EBITDA income		$19.2 to $20.7
GAAP Weighted-average shares — diluted		31.8 to 32.0
GAAP Net income per share — diluted		$0.04 to $0.08
Non-GAAP Net income		$17.6 to $19.1
Non-GAAP Weighted-average shares — diluted(1)		32.5 to 32.7
Non-GAAP Net income per share — diluted(1)		$0.55 to $0.60


	September 30, 2026			December 31, 2025
Assets:
Current assets:
Cash and cash equivalents	$	38,741		$	48,206
Short-term investments		74,238			127,130
Accounts receivable, net		78,131			70,785
Inventory		83,369			84,961
Prepaid expenses and other current assets		60,053			8,135
Total current assets		334,532			339,217
Long-term investments		115,344			103,766
Property and equipment, net		48,755			50,290
Intangible assets, net		7,613			9,501
Operating lease right-of-use assets		21,334			20,896
Other non-current assets		425			795
Goodwill		20,109			20,721
Total assets	$	548,112		$	545,186
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable	$	13,337		$	13,614
Accrued compensation and employee related benefits		15,068			9,936
Accrued and other current liabilities		2,765			3,664
Current portion of operating lease liabilities		1,969			776
Current portion of long-term debt		995			96,745
Current portion of deferred revenue		1,375			1,791
Total current liabilities		35,509			126,526
Long-term debt		185,311			184,141
Operating lease liabilities, net of current portion		22,738			22,536
Deferred tax liabilities, net		1,694			2,062
Deferred revenue, net of current portion		529			690
Total liabilities		245,781			335,955
Stockholders’ equity:
Common stock, $0.001 par value		31			30
Additional paid-in capital		711,573			606,852
Accumulated other comprehensive income (loss)		(749	)		2,509
Accumulated deficit		(408,524	)		(400,160	)
Total stockholders’ equity		302,331			209,231
Total liabilities and stockholders’ equity	$	548,112		$	545,186


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2026			2025			2026			2025
Revenue	$	112,083		$	96,055		$	294,704		$	268,226
Cost of revenue		52,954			47,727			135,583			126,604
Gross profit		59,129			48,328			159,121			141,622
Operating expenses:
Research and development		30,581			25,720			88,567			75,686
Sales and marketing		10,271			9,380			29,857			26,173
General and administrative		13,175			12,035			39,188			36,259
Amortization of intangibles		511			537			1,582			1,543
Total operating expenses		54,538			47,672			159,194			139,661
Income (loss) from operations		4,591			656			(73	)		1,961
Other income, net		2,515			2,592			7,436			6,705
Induced conversion expense		(1,793	)		(15,026	)		(13,731	)		(15,026	)
Interest expense		(596	)		(1,121	)		(2,000	)		(3,569	)
Income (loss) before income taxes		4,717			(12,899	)		(8,368	)		(9,929	)
Income tax benefit (expense)		(40	)		89			4			221
Net income (loss)	$	4,677		$	(12,810	)	$	(8,364	)	$	(9,708	)

Net income (loss) per share — basic	$	0.15		$	(0.44	)	$	(0.27	)	$	(0.33	)
Net income (loss) per share — diluted	$	0.15		$	(0.44	)	$	(0.27	)	$	(0.33	)

Weighted-average shares outstanding — basic		30,617			29,338			30,463			28,995
Weighted-average shares outstanding — diluted		31,495			29,338			30,463			28,995


	Three Months Ending
	December 31,
	2026
GAAP Net income	$	1,972
Adjustments:
Forecasted Depreciation and amortization		3,910
Forecasted Stock-based compensation		16,210
Forecasted Interest expense		396
Forecasted Other income, net		(2,488	)
Forecasted Income tax expense (benefit)		(100	)
Adjusted EBITDA	$	19,900

GAAP Net income	$	1,972
Adjustments:
Forecasted Depreciation and amortization		3,910
Forecasted Stock-based compensation		16,210
Forecasted Income tax effects of adjustments		(3,709	)
Non-GAAP Net income	$	18,383

GAAP Net income per share — diluted	$	0.06
Non-GAAP Net income per share — diluted(1)	$	0.58

GAAP Weighted-average shares — diluted		31,900
Dilutive shares		700
Non-GAAP Weighted-average shares — diluted(1)		32,600



Item 2.02	Results of Operations and Financial Condition


	Nine Months Ended
	September 30,
	2026			2025
Operating activities:
Net loss	$	(8,364	)	$	(9,708	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		11,538			11,082
Stock-based compensation		47,092			40,096
Loss on fixed asset disposal		114			—
Gain on remeasurement of capped call transactions		(102	)		—
Accretion of discount or amortization of premium on investments		(685	)		(1,860	)
Amortization of debt issuance costs		1,444			1,274
Induced conversion expense related to convertible notes		13,731			15,026
Deferred tax expense		(308	)		(297	)
Changes in operating assets and liabilities:
Accounts receivable		(7,372	)		(4,153	)
Inventory		1,553			6,806
Prepaid expenses and other assets		(1,937	)		(1,409	)
Accounts payable		(204	)		(977	)
Accrued compensation and employee related benefits		5,179			(12,906	)
Accrued and other liabilities		(899	)		659
Operating lease right-of-use assets		1,211			2,019
Operating lease liabilities		(255	)		(2,699	)
Deferred revenue		(544	)		657
Net cash provided by operating activities		61,192			43,610
Investing activities:
Purchases of investments		(120,959	)		(146,293	)
Proceeds from sales of investments		45,183			12,937
Proceeds from maturities of investments		115,072			115,480
Purchases of property and equipment		(9,186	)		(11,343	)
Net cash provided by (used in) investing activities		30,110			(29,219	)
Financing activities:
Proceeds from issuance of 2025 Notes, net of issuance costs		—			183,658
Premiums paid for capped call transactions		—			(11,210	)
Payment of 2021 Notes		(103,560	)		(190,000	)
Proceeds from exercise of stock options and employee stock purchase plan		5,296			11,025
Payments of taxes on restricted stock units		(2,415	)		(2,550	)
Net cash used in financing activities		(100,679	)		(9,077	)
Effect of exchange rate changes on cash and cash equivalents		(88	)		359


	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
GAAP Gross margin		52.8	%			50.3	%			54.0	%			52.8	%
Adjustments:
Depreciation and amortization		1.8	%			2.1	%			2.1	%			2.2	%
Stock-based compensation		0.3	%			0.5	%			0.4	%			0.6	%
Non-GAAP Gross margin		54.9	%			53.0	%			56.5	%			55.6	%
Certain amounts may be off due to rounding

GAAP Net income (loss)	$	4,677			$	(12,810	)		$	(8,364	)		$	(9,708	)
Adjustments:
Depreciation and amortization		3,804				3,852				11,538				11,082
Stock-based compensation		16,106				14,551				47,092				40,096
Other income, net		(2,515	)			(2,592	)			(7,436	)			(6,705	)
Induced conversion expense		1,793				15,026				13,731				15,026
Interest expense		596				1,121				2,000				3,569
Income tax expense (benefit)		40				(89	)			(4	)			(221	)
Adjusted EBITDA	$	24,501			$	19,059			$	58,557			$	53,139

GAAP Net income (loss)	$	4,677			$	(12,810	)		$	(8,364	)		$	(9,708	)
Adjustments:
Depreciation and amortization		3,804				3,852				11,538				11,082
Stock-based compensation		16,106				14,551				47,092				40,096
Induced conversion expense		1,793				15,026				13,731				15,026
Income tax effects of adjustments (1)		(4,296	)			(2,918	)			(10,505	)			(7,975	)
Non-GAAP Net income	$	22,084			$	17,701			$	53,492			$	48,521

Non-GAAP Net income per share — diluted	$	0.69		(2)	$	0.58		(2)	$	1.71		(2)	$	1.61		(2)

GAAP Weighted-average shares — diluted		31,495		(3)		29,338				30,463				28,995
Dilutive shares from stock plans		—				1,000				704				818
Dilutive shares from convertible debt		1,150				2,339				1,302				2,506
Non-GAAP Weighted-average shares — diluted		32,645		(2)		32,677		(2)		32,469		(2)		32,319		(2)
(1) The tax effects of the adjustments are calculated using the statutory rate, taking into consideration the nature of the item and relevant taxing jurisdictions.
(2) Diluted net income per share includes the impact of all convertible debt outstanding at period end, using the if-converted method, which assumes full share settlement. Interest expense is added back to net income and weighted average shares includes total shares issuable at conversion.
(3) GAAP Weighted average shares — diluted includes the impact of dilutive shares from stock plans.