Impinj Revenue Reaches $112.083 Million in Third Quarter, Beating Expectations
Key Facts
Impinj reported results on October 28, 2026, for the third quarter ended September 30, posting revenue of $112.083 million, above the top end of its previous outlook of $108.5 million. The results also showed higher gross margins than in the same period last year, along with earnings under the adjusted measures used by the company. Chief Executive Chris Diorio said endpoint chip unit revenue and total revenue reached quarterly records. Diorio linked the results to strength in the M800 market, resilient retail demand, growth in key accounts and Gen2X momentum. The company had scheduled the results announcement for after the close of U.S. markets that day.
Revenue was $112.083 million in the third quarter, compared with a forecast range the company issued in July of $105.5 million to $108.5 million. The actual result therefore exceeded the range's upper end of $108.5 million. The July outlook put non-GAAP net income at $18.5 million to $20 million and diluted earnings per share at $0.59 to $0.63. The previous outlook provides a benchmark for comparison with the reported results, but the figures here do not specify actual GAAP net income for the quarter. In the second quarter of 2026, Impinj reported revenue of $108.4 million, non-GAAP net income of $27 million and diluted earnings per share of $0.86.
On a non-GAAP basis, third-quarter net income was $22.1 million, or $0.69 per diluted share, while adjusted earnings before interest, taxes, depreciation and amortization were $24.5 million. Compared with the second quarter, these figures show a decline in non-GAAP net income from $27 million and in diluted earnings per share from $0.86. At the same time, the company became profitable on a GAAP basis, as highlighted in the quarter's results, with a distinction needed between that basis and adjusted income measures. After the second-quarter results, Diorio said revenue, adjusted earnings before interest, taxes, depreciation and amortization, and non-GAAP earnings per share had then reached quarterly records. Comparing the statements for the two quarters places the new results in the context of the company's quarterly track record, without adjusted-basis measures replacing GAAP figures.
GAAP gross margin was 52.8% in the third quarter, compared with 50.3% in the third quarter of 2025. Non-GAAP gross margin rose to 54.9% from 53.0% a year earlier. The year-over-year comparison indicates improvement in both measures, while the gap between GAAP and non-GAAP values remained in both periods. This came alongside record quarterly revenue, as described by the chief executive, and the operating factors he cited, including strength in the M800 market, resilient retail demand, growth in key accounts and Gen2X momentum. The statement did not break out each factor's contribution to revenue growth or margin improvement.
Impinj forecast fourth-quarter 2026 revenue of $104 million to $107 million, compared with actual third-quarter revenue of $112.083 million. It also set a range of $17.6 million to $19.1 million for non-GAAP net income and $0.55 to $0.60 for diluted earnings per share. The outlook follows a quarter in which revenue exceeded the top end of the range the company had announced in July. Management announced on October 1 that results would be released after the close of U.S. markets on October 28, and scheduled a call to discuss third-quarter results and fourth-quarter guidance for the same day at 5:00 p.m. Eastern time. The call puts the coming period's outlook at the center of investor attention to the company's performance after the record quarter.