12 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 21.0% per year over the past 5 years.
Operating margin has expanded, at -0.2% in the latest year.
Financial health
Total debt ($281M) exceeds cash ($48M); net debt is $233M.
Total debt has grown faster than revenue (38.8% vs 21.0% per year).
Operating income covered interest expense -0.2× in the latest year, up from -8.7× 5 years ago.
Total debt is 20× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$361M
-$11M
52.5%
-0.2%
$46M
$281M
$48M
2024
$366M
$41M
51.6%
-1.9%
$111M
$283M
$46M
2023
$308M
-$43M
49.4%
-14.1%
-$68M
$282M
$95M
2022
$258M
-$24M
53.5%
-7.6%
-$11M
$280M
$20M
2021
$190M
-$51M
52.0%
-19.6%
-$10M
$288M
$124M
2020
$139M
-$52M
46.9%
-33.9%
-$20M
$55M
$24M
2019
$153M
-$23M
48.4%
-14.2%
$2M
$51M
$67M
2018
$123M
-$35M
47.5%
-28.4%
-$18M
$24M
$18M
2017
$125M
-$17M
51.8%
-13.6%
-$42M
$10M
$19M
2016
$112M
-$2M
52.9%
-0.4%
-$13M
$12M
$34M
2015
—
$900000
—
—
—
$16M
$10M
2014
—
$297000
—
—
—
—
$7M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$74M
-$25M
49.1%
-20.4%
$2M
$241M
$32M
Dec '25
$93M
-$1M
51.8%
-2.9%
$14M
$281M
$48M
Sep '25
$96M
-$13M
50.3%
0.7%
$18M
$280M
$52M
Jun '25
$98M
$12M
57.8%
11.1%
$27M
$284M
$42M
Mar '25
$74M
-$8M
49.4%
-12.9%
-$13M
$284M
$61M
Dec '24
$92M
-$3M
50.5%
-3.9%
$8M
$283M
$46M
Sep '24
$95M
$221000
50.0%
-0.8%
$5M
$283M
$74M
Jun '24
$102M
$10M
56.1%
8.8%
$44M
$283M
$215M
Mar '24
$77M
$33M
48.9%
-15.3%
$54M
$282M
$167M
Dec '23
$71M
-$15M
47.9%
-21.0%
-$1M
$282M
$95M
Sep '23
$65M
-$16M
47.3%
-24.4%
-$4M
$281M
$78M
Jun '23
$86M
-$8M
51.0%
-9.7%
-$28M
$281M
$45M
Mar '23
$86M
-$4M
50.7%
-5.2%
-$34M
$281M
$37M
Dec '22
$77M
-$118000
52.4%
0.1%
-$12M
$280M
$20M
Sep '22
$68M
-$2M
54.8%
-2.6%
$12M
$280M
$39M
Jun '22
$60M
-$12M
52.7%
-14.2%
$7M
$279M
$33M
Mar '22
$53M
-$10M
54.2%
-17.5%
-$18M
$289M
$64M
Dec '21
$53M
-$20M
55.5%
-14.6%
-$6M
$288M
$124M
Sep '21
$45M
-$13M
50.9%
-27.4%
-$897000
—
$65M
Jun '21
$47M
-$9M
52.4%
-17.6%
-$8M
—
$51M
Valuation over time
How the market has priced PI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 108.4× (Dec '24) to 128.1× (Nov '25).
The price-to-sales ratio has fallen from 15.8× (Mar '23) to 11.3× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is PI growing its revenue and profit?
Over the past 5 years, Impinj Inc's revenue has grown 21.0% per year. These are computed facts, not advice.
How much debt does PI have?
As of FY2025, Impinj Inc reported $281M of total debt against $48M of cash; operating income covered interest expense -0.2×.
What is PI's profit margin?
In FY2025, gross margin was 52.5%, operating margin -0.2%, and net margin -3.0%.
What is PI's P/E ratio?
As of Jun '26, Impinj Inc traded at a price-to-earnings ratio of about 128.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.