Impinj Q3 2026: Record Revenue and Margin Expansion
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Record endpoint IC volumes drove a double beat and pushed non-GAAP gross margin to 54.9% from 53.0% a year ago, a sign M800 demand is holding. Q4 revenue guidance sits below this quarter, so the margin story is what carries the stock from here.
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Impinj posted third-quarter revenue of $112.1 million, topping expectations and growing 16.7% from a year ago.
Record endpoint IC volumes on M800 demand lifted non-GAAP gross margin to 54.9% from 53.0%, so the volume gains are reaching profitability.
On a GAAP basis, Impinj swung to net income of $4.68 million from a net loss a year earlier, helped by a sharp drop in induced conversion expense on its convertible notes.
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The forward picture is more measured: Q4 revenue guidance of $104.0 million to $107.0 million sits below the Q3 level, with non-GAAP EPS guided at $0.55 to $0.60. CEO Chris Diorio expects M800 strength, resilient retail demand, lighthouse account growth, and Gen2X momentum to continue.
R&D spending rose to $30.6 million, funding Gen2X and the company's Physical Intelligence push to connect physical items to AI-powered digital workflows. Whether that sustains gross margin above 54% in Q4 is the number to track.
Mentioned: PI