Impinj (PI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Impinj published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Impinj reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Impinj has a single reportable segment; the rows above are the two revenue categories its chief operating decision maker reviews. It reports in thousands; figures here are in millions.
• Impinj's non-GAAP diluted EPS counts the shares issuable on its convertible notes (the if-converted method) and adds back the related interest expense, so its share count is higher than the GAAP count.

Source: Impinj Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Impinj splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Impinj's Endpoint ICs revenue was $97.3 million in Q3 2026, up 24% from $78.8 million in Q3 2025, 87% of total revenue.
• Impinj's Systems revenue was $14.8 million in Q3 2026, down 15% from $17.3 million in Q3 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first three lines are from the outlook table in Impinj's release, in millions of dollars. The same table guides GAAP diluted EPS of $0.04 to $0.08 and non-GAAP diluted EPS of $0.55 to $0.60. The last line is from CEO Chris Diorio.

In its Q3 2026 release, Impinj said:

“Revenue $104.0 to $107.0”

“GAAP Net income $1.2 to $2.7”

“Adjusted EBITDA income $19.2 to $20.7”

“M800's market strength, resilient retail demand, growth at our lighthouse accounts and Gen2X momentum all contributed to those record results, and we see those trends continuing.”

Source: Impinj Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and GAAP diluted EPS, each as first reported in that quarter's release. Impinj gave a preliminary read on Q4 2025 revenue and adjusted EBITDA on January 13, 2026; the Q4 row uses the full release of February 5, 2026.

We do not hold a confirmed date for Impinj's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Impinj's revenue was $112.1 million in Q3 2026, against $96.1 million a year earlier, and its CEO said total revenue, endpoint IC revenue and endpoint IC unit volumes all set quarterly records. Endpoint ICs, including licensing revenue, brought in $97.3 million, up from $78.8 million. Systems, which Impinj defines as reader ICs, readers, gateways, label production systems and software, brought in $14.8 million, down from $17.3 million. (Impinj Q3 2026 release, Oct 28, 2026; Impinj Form 10-Q, Q3 2026, Oct 28, 2026)

Impinj said endpoint IC revenue rose $18.5 million because of a $24.8 million increase in shipment volumes, partly offset by a $6.2 million decrease from lower average selling prices, which came from product mix and new customer pricing that took effect at the beginning of 2026. Systems revenue fell $2.5 million on lower shipment volumes: gateway revenue fell $1.6 million and reader revenue $1.5 million, partly offset by a $0.9 million increase in reader IC revenue. (Impinj Form 10-Q, Q3 2026, Oct 28, 2026)

Impinj sells endpoint ICs and label production systems mainly to inlay manufacturers, reader ICs to OEMs and ODMs through distributors, and readers and gateways to solution providers, VARs and systems integrators. Its sales are concentrated: in 2025 three major customers accounted for 61% of total revenue, and 79% of revenue came from sales outside the United States. (Impinj Form 10-Q, Q3 2026, Oct 28, 2026)

By region, Impinj's 2025 revenue was $209.9 million from Asia Pacific, $124.9 million from the Americas and $26.2 million from Europe, the Middle East and Africa, out of $361.1 million in total. The endpoint IC competitors it names are NXP, Kiloway, Quanray, Shanghai Fudan Microelectronics Group, Alibaba and Alien Technology. (Impinj Form 10-K, 2025, Feb 9, 2026)

Impinj's GAAP net income was $4.7 million, or $0.15 per diluted share on 31.5 million shares, in Q3 2026, against a net loss of $12.8 million, or $(0.44), a year earlier. The year-ago loss included $15.0 million of induced conversion expense on $190.0 million principal of its 2021 convertible notes. In September 2026 Impinj converted another $56.3 million principal of the 2021 Notes and recorded $1.8 million of induced conversion expense. (Impinj Q3 2026 release, Oct 28, 2026; Impinj Form 10-Q, Q3 2026, Oct 28, 2026)

Impinj's non-GAAP net income was $22.1 million, or $0.69 per diluted share on 32.6 million shares, against $0.58 a year earlier. The non-GAAP figure excludes stock-based compensation ($16.1 million in the quarter), depreciation and amortization ($3.8 million) and induced conversion expense, net of their tax effects. Its share count includes 1,150 thousand shares from convertible debt under the if-converted method. (Impinj Q3 2026 release, Oct 28, 2026)

Impinj's GAAP gross margin was 52.8% and its non-GAAP gross margin 54.9%, against 50.3% and 53.0% a year earlier; Impinj said higher product margins drove the increase, partly offset by revenue mix. Operating expenses rose to $54.5 million from $47.7 million, including $30.6 million of research and development. (Impinj Q3 2026 release, Oct 28, 2026; Impinj Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Impinj gives a one-quarter outlook in each release. For Q4 2026 it guided revenue of $104.0 million to $107.0 million, GAAP net income of $1.2 million to $2.7 million, adjusted EBITDA of $19.2 million to $20.7 million, GAAP diluted EPS of $0.04 to $0.08 and non-GAAP diluted EPS of $0.55 to $0.60. The revenue range sits below the $112.1 million Impinj reported for Q3 2026. (Impinj Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Impinj, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Impinj's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PI is on is PI a buy or a sell?, what analysts expect next is on the PI forecast, and what the company does is on the Impinj (PI) stock page.

Every number on this page can be traced to a document Impinj published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.