Impinj 10-Q: Record $112.1M Q3 Revenue, $4.7M Net Income, 2021 Notes Cut to $1.0M
PI has more than doubled off its 52-week low of $87.36.
Summary
Impinj's Q3 10-Q confirms record $112.1 million revenue and $4.7 million of net income, and shows the 2021 convertible notes nearly fully retired at $1.0 million outstanding after September's $56.3 million induced conversion.
Key Events · Earnings and Guidance · PI
-
Record Q3 Revenue of $112.1M
Revenue rose to $112.083 million from $96.055 million a year earlier, with endpoint IC revenue up $18.5 million on higher shipment volumes.
-
Q3 Net Income of $4.7M
Gross margin expanded to 52.8% from 50.3%, producing $4.591 million of operating income and $4.677 million of net income, or $0.15 per diluted share.
-
2021 Notes Nearly Retired
September's induced conversion of $56.3 million principal for $56.5 million cash plus about 198,000 shares cut 2021 Notes outstanding to $0.999 million from $97.498 million at December 31, 2025.
-
Nine-Month Loss on Conversion Charges
Year-to-date net loss of $8.364 million includes $13.731 million of induced conversion expense; operating cash flow was still $61.192 million.
Analysis · PI · Manufacturing
With the 8-K already carrying the headline numbers, the incremental news here is the balance sheet and capital structure. During the year Impinj converted nearly all of its 2021 Notes — $56.3 million of principal in September for $56.5 million cash plus about 198,000 shares — leaving just $1.0 million outstanding against $97.5 million at year-end. That removes a near-term maturity and the associated interest burden, but it cost $13.7 million of induced conversion expense in the first nine months, which is why the year-to-date result is a $8.4 million net loss despite $4.7 million of third-quarter net income. Liquidity is comfortable: $113.0 million of cash and short-term investments and $299.0 million of working capital, with management stating existing funds cover at least the next 12 months. Also worth flagging is the September election to cash-settle the legacy 2019 capped calls, which turned them into a $48.7 million derivative asset marked to market each quarter — an accounting change, not new dilution or cash out the door.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31.1% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PI was trading at $190.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $87.36 to $245.93. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.