IMPINJ INC

PI · Electronic Components, NEC · 30.5M shares · +5%/yr ↑ shares · EDGAR filings ↗

Reference price $127.36 · est. market cap ~$3.9B — last insider sale, 2026-06-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C56

RAIN RFID leader near breakeven with positive free cash flow but negative interest coverage and leverage.

Strengths

Positive FCF — $45.9M (62nd), FCF margin 12.7%
Healthy gross margin — 52.5%

Risks

Near-breakeven/net loss — operating margin -0.2%, net margin -3.0%, interest coverage -0.17
Leverage — D/E 0.88 (78th)
RAIN-adoption concentration/pace risk per risk factors — per 10-K

Notable findings

No interest coverageInterest coverage -0.17 (cannot cover interest)
Net lossNet loss (net margin -3.0%)
Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
Strong balance sheetStrong balance sheet — $279M cash & investments
Revenue declineRevenue -20.0% YoY
Notable holderHeld by 4 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
Insider sellingInsider selling — 25 open-market sale(s) by 1 insider(s) (~$75M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $98M2025-09-30 · $96M2025-12-31 · $93M2026-03-31 · $74M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

52.5%

Operating margin

-0.2%

Net margin

-3.0%

Return on equity

-5.2%

Return on assets

-2.0%

ROIC

-0.1%

Revenue growth (QoQ)

-20.0%

Net-income growth

-126.6%

Debt / equity

0.9×

Net debt / EBITDA

-6.6×

Interest coverage

-0.2×

Current ratio

2.7×

Free cash flow

$46M

EBITDA

$14M

Tangible book value

$179M

Cash & investments

$279M

Stock comp / revenue

15.3%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-23	Baker Cary	Option exercise	597	—
2026-06-23	Baker Cary	Tax withheld	424	$125.22
2026-06-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2026-06-23	DIORIO CHRIS PH.D.	Option exercise	1.8K	—
2026-06-23	DIORIO CHRIS PH.D.	Tax withheld	1.2K	$125.22
2026-06-23	Baker Cary	Option exercise	479	—
2026-06-15	DIORIO CHRIS PH.D.	Gift	10K	—
2026-06-09	SYLEBRA CAPITAL LLC	Sell	12K	$127.36
2026-06-09	SYLEBRA CAPITAL LLC	Sell	19K	$127.36
2026-06-08	SYLEBRA CAPITAL LLC	Sell	33K	$130.07
2026-06-08	SYLEBRA CAPITAL LLC	Sell	13K	$125.97
2026-06-08	SYLEBRA CAPITAL LLC	Sell	13K	$125.97
2026-06-08	SYLEBRA CAPITAL LLC	Sell	33K	$130.07
2026-06-05	SYLEBRA CAPITAL LLC	Sell	12K	$128.87
2026-06-05	SYLEBRA CAPITAL LLC	Sell	36K	$122.50
2026-06-04	SYLEBRA CAPITAL LLC	Sell	33K	$136.84
2026-06-03	SYLEBRA CAPITAL LLC	Sell	6.3K	$139.17
2026-06-02	SYLEBRA CAPITAL LLC	Sell	39K	$142.31
2026-06-01	SYLEBRA CAPITAL LLC	Sell	7.2K	$144.29
2026-05-29	SYLEBRA CAPITAL LLC	Sell	49K	$150.78
2026-05-28	Gibson Daniel Patrick	Option exercise	3.1K	—
2026-05-28	WASHINGTON MIRON	Option exercise	3.1K	—
2026-05-28	Rao Meera	Option exercise	3.1K	—
2026-05-28	PADVAL UMESH	Option exercise	3.1K	—
2026-05-28	Sanghi Steve	Option exercise	3.4K	—
2026-05-26	DIORIO CHRIS PH.D.	Other	180K	$156.68
2026-05-26	DIORIO CHRIS PH.D.	Other	180K	$156.68
2026-05-11	SYLEBRA CAPITAL LLC	Sell	24K	$154.46
2026-05-11	SYLEBRA CAPITAL LLC	Sell	13K	$154.46
2026-05-11	SYLEBRA CAPITAL LLC	Sell	24K	$154.46
2026-05-11	SYLEBRA CAPITAL LLC	Sell	13K	$154.46
2026-05-08	SYLEBRA CAPITAL LLC	Sell	26K	$152.73
2026-05-08	SYLEBRA CAPITAL LLC	Sell	1.6K	$151.32
2026-05-08	SYLEBRA CAPITAL LLC	Sell	9.5K	$149.97
2026-05-08	SYLEBRA CAPITAL LLC	Sell	26K	$152.73
2026-05-08	SYLEBRA CAPITAL LLC	Sell	1.6K	$151.32
2026-05-08	SYLEBRA CAPITAL LLC	Sell	9.5K	$149.97
2026-05-07	SYLEBRA CAPITAL LLC	Sell	36K	$152.73
2026-05-07	SYLEBRA CAPITAL LLC	Sell	36K	$152.73
2026-03-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2026-03-23	DIORIO CHRIS PH.D.	Tax withheld	2.2K	$101.17
2026-03-23	Baker Cary	Option exercise	782	—
2026-03-23	Baker Cary	Option exercise	479	—
2026-03-23	Baker Cary	Option exercise	597	—
2026-03-23	Baker Cary	Tax withheld	732	$101.17
2026-03-23	DIORIO CHRIS PH.D.	Option exercise	2.6K	—
2026-03-23	DIORIO CHRIS PH.D.	Option exercise	1.8K	—
2026-02-20	Baker Cary	Tax withheld	2.2K	$127.92
2026-02-20	Baker Cary	Grant	8.5K	—
2026-02-20	DIORIO CHRIS PH.D.	Grant	22K	—
2026-02-20	DIORIO CHRIS PH.D.	Tax withheld	7.4K	$127.92
2026-02-17	DIORIO CHRIS PH.D.	Gift	1.8K	—
2025-12-23	Baker Cary	Option exercise	781	—
2025-12-23	Baker Cary	Option exercise	479	—
2025-12-23	Baker Cary	Option exercise	596	—
2025-12-23	Baker Cary	Tax withheld	732	$171.99
2025-12-23	DIORIO CHRIS PH.D.	Option exercise	2.6K	—
2025-12-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2025-12-23	DIORIO CHRIS PH.D.	Option exercise	1.8K	—
2025-12-23	DIORIO CHRIS PH.D.	Tax withheld	2.2K	$171.99
2025-12-15	SYLEBRA CAPITAL LLC	Sell	135K	$150.36
2025-12-12	SYLEBRA CAPITAL LLC	Sell	51K	$146.62
2025-12-11	SYLEBRA CAPITAL LLC	Sell	95K	$152.87
2025-12-10	SYLEBRA CAPITAL LLC	Sell	85K	$155.49
2025-12-09	SYLEBRA CAPITAL LLC	Sell	40	$160.01
2025-12-08	SYLEBRA CAPITAL LLC	Sell	2.5K	$160.72
2025-12-05	SYLEBRA CAPITAL LLC	Sell	1.4K	$161.04
2025-12-04	SYLEBRA CAPITAL LLC	Sell	3.2K	$160.59
2025-12-03	SYLEBRA CAPITAL LLC	Sell	41K	$167.97
2025-12-02	SYLEBRA CAPITAL LLC	Sell	42K	$168.23
2025-12-01	SYLEBRA CAPITAL LLC	Sell	31K	$167.02
2025-11-28	SYLEBRA CAPITAL LLC	Sell	22K	$172.62
2025-11-26	SYLEBRA CAPITAL LLC	Sell	35K	$171.80
2025-11-25	SYLEBRA CAPITAL LLC	Sell	46K	$167.73
2025-11-25	Baker Cary	Gift	1.0K	—
2025-11-24	SYLEBRA CAPITAL LLC	Sell	32K	$159.42
2025-11-21	SYLEBRA CAPITAL LLC	Sell	3.0K	$155.10
2025-11-20	SYLEBRA CAPITAL LLC	Sell	8.1K	$156.32
2025-11-19	DIORIO CHRIS PH.D.	Gift	7.0K	—
2025-11-12	SYLEBRA CAPITAL LLC	Sell	3.8K	$156.30
2025-11-11	SYLEBRA CAPITAL LLC	Sell	30K	$155.63
2025-11-07	SYLEBRA CAPITAL LLC	Sell	6.2K	$162.16
2025-11-07	WASHINGTON MIRON	Sell	342	$158.94
2025-11-06	SYLEBRA CAPITAL LLC	Sell	23K	$171.95
2025-11-03	SYLEBRA CAPITAL LLC	Sell	1.5K	$202.01
2025-10-30	DIORIO CHRIS PH.D.	Option exercise	24K	$22.40
2025-09-23	Baker Cary	Option exercise	781	—
2025-09-23	Baker Cary	Option exercise	479	—
2025-09-23	Baker Cary	Option exercise	597	—
2025-09-23	Baker Cary	Tax withheld	732	$184.97
2025-09-23	DIORIO CHRIS PH.D.	Option exercise	2.6K	—
2025-09-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2025-09-23	DIORIO CHRIS PH.D.	Option exercise	1.8K	—
2025-09-23	DIORIO CHRIS PH.D.	Tax withheld	2.2K	$184.97
2025-09-18	DIORIO CHRIS PH.D.	Option exercise	47K	$33.77
2025-09-18	DIORIO CHRIS PH.D.	Option exercise	7.0K	$22.40
2025-09-16	DIORIO CHRIS PH.D.	Sell	340	$190.26
2025-09-16	DIORIO CHRIS PH.D.	Sell	1.8K	$186.43
2025-09-16	DIORIO CHRIS PH.D.	Sell	1.1K	$187.52
2025-09-16	DIORIO CHRIS PH.D.	Sell	850	$189.21
2025-09-16	DIORIO CHRIS PH.D.	Sell	12	$191.76
2025-09-15	DIORIO CHRIS PH.D.	Sell	796	$183.47
2025-09-15	DIORIO CHRIS PH.D.	Sell	467	$180.65
2025-09-15	DIORIO CHRIS PH.D.	Sell	1.3K	$182.77
2025-09-15	DIORIO CHRIS PH.D.	Sell	568	$179.26
2025-09-15	DIORIO CHRIS PH.D.	Sell	1.9K	$181.84
2025-09-12	DIORIO CHRIS PH.D.	Gift	30K	—
2025-09-10	SYLEBRA CAPITAL LLC	Sell	300K	$196.24
2025-09-09	DIORIO CHRIS PH.D.	Sell	510	$192.84
2025-09-09	DIORIO CHRIS PH.D.	Sell	330	$190.42
2025-09-09	DIORIO CHRIS PH.D.	Sell	199	$191.30
2025-09-09	DIORIO CHRIS PH.D.	Sell	1.3K	$194.18
2025-09-09	DIORIO CHRIS PH.D.	Sell	1.1K	$195.10
2025-09-09	DIORIO CHRIS PH.D.	Sell	249	$196.34
2025-09-09	DIORIO CHRIS PH.D.	Sell	790	$197.23
2025-09-09	DIORIO CHRIS PH.D.	Sell	303	$197.86
2025-09-09	DIORIO CHRIS PH.D.	Sell	167	$199.77
2025-09-08	DIORIO CHRIS PH.D.	Sell	3.0K	$192.58
2025-09-08	DIORIO CHRIS PH.D.	Sell	100	$193.29
2025-09-08	DIORIO CHRIS PH.D.	Sell	1.9K	$191.81
2025-09-03	DIORIO CHRIS PH.D.	Sell	80	$186.37
2025-09-03	DIORIO CHRIS PH.D.	Sell	1.4K	$189.49
2025-09-03	DIORIO CHRIS PH.D.	Sell	2.6K	$190.15
2025-09-03	DIORIO CHRIS PH.D.	Sell	925	$187.96
2025-09-02	DIORIO CHRIS PH.D.	Sell	483	$181.35
2025-09-02	DIORIO CHRIS PH.D.	Sell	4.5K	$180.56
2025-08-29	DIORIO CHRIS PH.D.	Sell	2.8K	$189.39
2025-08-29	DIORIO CHRIS PH.D.	Sell	2.0K	$188.39
2025-08-29	DIORIO CHRIS PH.D.	Sell	200	$190.28
2025-08-28	DIORIO CHRIS PH.D.	Sell	960	$189.06
2025-08-28	DIORIO CHRIS PH.D.	Sell	325	$190.33
2025-08-28	DIORIO CHRIS PH.D.	Sell	70	$190.79
2025-08-28	DIORIO CHRIS PH.D.	Sell	1.1K	$185.93
2025-08-28	DIORIO CHRIS PH.D.	Sell	784	$186.80
2025-08-28	DIORIO CHRIS PH.D.	Sell	1.7K	$188.14
2025-06-23	Baker Cary	Option exercise	781	—
2025-06-23	Baker Cary	Option exercise	479	—
2025-06-23	Baker Cary	Option exercise	596	—
2025-06-23	Baker Cary	Tax withheld	732	$106.34
2025-06-23	DIORIO CHRIS PH.D.	Option exercise	2.6K	—
2025-06-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2025-06-23	DIORIO CHRIS PH.D.	Option exercise	1.8K	—
2025-06-23	DIORIO CHRIS PH.D.	Tax withheld	2.2K	$106.34
2025-06-05	PADVAL UMESH	Option exercise	1.8K	—
2025-06-05	Rao Meera	Option exercise	1.8K	—
2025-06-05	SANGHI STEVE	Option exercise	2.0K	—
2025-06-05	WASHINGTON MIRON	Option exercise	1.8K	—
2025-06-05	Gibson Daniel Patrick	Option exercise	1.8K	—
2025-05-20	PHELAN CATHAL G	Option exercise	1.4K	—
2025-05-20	PHELAN CATHAL G	Tax withheld	492	$123.33
2025-05-01	DIORIO CHRIS PH.D.	Other	288K	—
2025-04-14	MECKLAI HUSSEIN	Tax withheld	431	$66.77
2025-04-14	DIORIO CHRIS PH.D.	Tax withheld	1.2K	$66.77
2025-04-14	Baker Cary	Tax withheld	370	$66.77
2025-04-12	Baker Cary	Option exercise	938	—
2025-04-12	MECKLAI HUSSEIN	Option exercise	1.1K	—
2025-04-12	DIORIO CHRIS PH.D.	Option exercise	3.1K	—
2025-03-24	DIORIO CHRIS PH.D.	Tax withheld	4.4K	$90.25
2025-03-24	PHELAN CATHAL G	Tax withheld	907	$90.25
2025-03-24	Baker Cary	Tax withheld	1.4K	$90.25
2025-03-24	MECKLAI HUSSEIN	Tax withheld	1.9K	$90.25
2025-03-23	PHELAN CATHAL G	Option exercise	414	—
2025-03-23	DIORIO CHRIS PH.D.	Option exercise	7.3K	—
2025-03-23	MECKLAI HUSSEIN	Option exercise	1.6K	—
2025-03-23	MECKLAI HUSSEIN	Option exercise	529	—
2025-03-23	MECKLAI HUSSEIN	Option exercise	2.6K	—
2025-03-23	Baker Cary	Option exercise	782	—
2025-03-23	Baker Cary	Option exercise	479	—
2025-03-23	Baker Cary	Option exercise	2.4K	—
2025-03-23	PHELAN CATHAL G	Option exercise	2.1K	—
2025-03-23	DIORIO CHRIS PH.D.	Option exercise	2.6K	—
2025-03-23	DIORIO CHRIS PH.D.	Option exercise	1.2K	—
2025-02-24	MECKLAI HUSSEIN	Option exercise	2.0K	$17.75
2025-02-21	DOSSETT JEFFREY	Sell	878	$97.75
2025-02-21	PHELAN CATHAL G	Sell	225	$97.77
2025-02-21	PHELAN CATHAL G	Sell	72	$98.47
2025-02-21	PHELAN CATHAL G	Sell	268	$99.68
2025-02-21	DIORIO CHRIS PH.D.	Sell	3.0K	$97.74
2025-02-21	MECKLAI HUSSEIN	Sell	1.4K	$97.77
2025-02-21	MECKLAI HUSSEIN	Sell	544	$98.50
2025-02-21	DIORIO CHRIS PH.D.	Sell	80	$100.25
2025-02-21	MECKLAI HUSSEIN	Sell	1.8K	$99.74
2025-02-21	DOSSETT JEFFREY	Sell	507	$98.37
2025-02-21	Baker Cary	Sell	701	$97.82
2025-02-21	DIORIO CHRIS PH.D.	Sell	3.9K	$99.70
2025-02-21	Baker Cary	Sell	234	$98.86
2025-02-21	Baker Cary	Sell	618	$99.79
2025-02-21	DOSSETT JEFFREY	Sell	1.3K	$99.72
2025-02-21	DIORIO CHRIS PH.D.	Sell	1.3K	$98.38
2025-02-20	DIORIO CHRIS PH.D.	Grant	21K	—
2025-02-20	PHELAN CATHAL G	Option exercise	1.4K	—
2025-02-20	MECKLAI HUSSEIN	Grant	12K	—
2025-02-20	Baker Cary	Grant	6.2K	—
2025-02-20	DOSSETT JEFFREY	Grant	7.5K	—
2025-02-11	DIORIO CHRIS PH.D.	Gift	366	—
2025-02-10	DIORIO CHRIS PH.D.	Option exercise	10K	$22.40
2025-02-10	DIORIO CHRIS PH.D.	Gift	1.8K	—
2025-01-13	Baker Cary	Sell	140	$140.56
2025-01-13	DOSSETT JEFFREY	Sell	155	$140.63
2025-01-13	DOSSETT JEFFREY	Sell	223	$141.34
2025-01-13	DIORIO CHRIS PH.D.	Sell	371	$140.63
2025-01-13	DIORIO CHRIS PH.D.	Sell	470	$141.33
2025-01-13	MECKLAI HUSSEIN	Sell	170	$141.35
2025-01-13	MECKLAI HUSSEIN	Sell	168	$140.67
2025-01-13	Baker Cary	Sell	150	$141.33
2025-01-12	Baker Cary	Option exercise	937	—
2025-01-12	DOSSETT JEFFREY	Option exercise	1.2K	—
2025-01-12	MECKLAI HUSSEIN	Option exercise	1.1K	—
2025-01-12	DIORIO CHRIS PH.D.	Option exercise	3.1K	—

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-05-29	Shareholder vote	filing ↗
2026-04-29	ResultsExhibits	filing ↗
2026-03-16	OtherExhibits	filing ↗
2026-02-05	ResultsExhibits	filing ↗
2026-01-13	ResultsExhibits	filing ↗
2025-12-22	Exec/director change	filing ↗
2025-10-30	Material agreementDebt obligation	filing ↗
2025-10-29	ResultsExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-05-29	2026-05-28	0001193125-26-248322 ↗
10-Q	2026-04-29	2026-03-31	0001193125-26-191810 ↗
8-K	2026-04-29	2026-04-29	0001193125-26-191695 ↗
8-K	2026-03-16	2026-03-11	0001193125-26-108622 ↗
10-K	2026-02-09	2025-12-31	0001193125-26-042813 ↗
8-K	2026-02-05	2026-02-05	0001193125-26-039432 ↗
8-K	2026-01-13	2026-01-13	0001193125-26-011765 ↗
8-K	2025-12-22	2025-12-19	0001193125-25-328739 ↗
8-K	2025-10-30	2025-10-30	0001193125-25-258567 ↗
8-K	2025-10-29	2025-10-29	0001193125-25-256357 ↗
10-Q	2025-10-29	2025-09-30	0001193125-25-256386 ↗
8-K	2025-10-20	2025-10-20	0001193125-25-243629 ↗