Q1 2026 Impinj Inc Earnings Call Transcript
Key Points
- Impinj Inc (PI) reported first-quarter revenue and adjusted EBITDA exceeding the top end of their guidance range.
- Endpoint IC bookings hit an all-time record, driven by custom ASIC ramp and retailer rebuys.
- The company saw a 1,700 basis point increase in market share over 2024, according to the RAIN Alliance.
- Impinj Inc (PI) is making strong progress in supply chain and logistics, general merchandise, and food sectors.
- The company is advancing its Gen2X technology, improving reader sensitivity and tag read range, which enhances enterprise solutions.
- First-quarter revenue was down 20% sequentially and flat year over year.
- Systems revenue fell short of expectations due to the timing of lighthouse enterprise CapEx spend.
- First-quarter gross margin declined to 52.4% from 54.5% in the previous quarter, impacted by higher indirect costs and revenue mix.
- First-quarter adjusted EBITDA was significantly lower at $3.4 million compared to $16.4 million in the previous quarter.
- The company is approaching the second half of 2026 prudently due to unpredictable macroeconomic conditions.
Welcome to Impinj's first-quarter 2026 financial results conference call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Mr. Andy Cobb, Vice President, Corporate Finance and Investor Relations. Please go ahead.
Thank you, Nick. Good afternoon, and thank you all for joining us to discuss Impinj's first-quarter 2026 results.
On today's call, Chris Diorio, Impinj's Co-Founder and CEO, will provide a brief overview of our market opportunity and performance. Cary Baker, Impinj's CFO, will follow with a detailed review of our first-quarter financial results and second-quarter outlook. We will then open the call for questions. You can find management's prepared remarks plus trended financial data on the company's Investor Relations website.
We will make statements in this call about financial performance and future expectations that are based on our outlook as of today. Any such statements are
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