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Impinj, Inc. is a technology company specializing in connecting everyday items to the Internet using its RAIN RFID platform. The company enables businesses and consumers to analyze, optimize, and innovate by providing real-time data about items such as apparel, automobile parts, luggage, and shipments. Impinj sells a range of products, including endpoint ICs, reader ICs, readers, gateways, and software solutions, which collectively support a boundless Internet of Things.
- Endpoint ICs - Provides integrated circuits (ICs) used in tags and inlays, primarily sold to inlay manufacturers and tag OEMs.
- Systems - Offers reader ICs, readers, gateways, test and measurement solutions, and software/cloud services, sold to OEMs, ODMs, solution providers, VARs, and system integrators.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Cathal Phelan ExecutiveBoard | Chief Innovation Officer, Director | None | Joined the board in 2019 and became Chief Innovation Officer in January 2023. Extensive technical expertise and management experience. | |
Chris Diorio, Ph.D. ExecutiveBoard | CEO, Vice Chair | Affiliate Professor at University of Washington; Director at GS1 Innovation Board and EPCglobal Board of Governors | Co-founder of Impinj, serving as CEO since 2014. Previously held roles including CTO and Chief Strategy Officer. Instrumental in advancing RFID technology and Impinj's leadership in the industry. | View Report → |
Cary Baker Executive | CFO | None | CFO since February 2020. Previously CFO at RealNetworks and HEAT Software. Extensive experience in financial leadership roles across multiple technology companies. | |
Hussein Mecklai Executive | COO | None | Joined Impinj in 2018 as EVP of Engineering and promoted to COO in February 2022. Previously held leadership roles at Intel Corporation. | |
Daniel Gibson Board | Director | Founding Partner and CIO at Sylebra Capital | Director since 2018. Founding Partner of Sylebra Capital, with extensive experience in investment management and technology-focused industries. | |
Meera Rao Board | Director | Director at Rambus (Chair of Audit Committee, Member of Cyber Risk Committee) | Director since February 2022. Former CFO at Monolithic Power Systems and held executive roles at several technology companies. CPA (inactive). | |
Miron Washington Board | Director | Chief Digital Officer at Parts Town; Board Member at The Eighth Notch and KairosPDX | Director since April 2023. Extensive experience in e-commerce, supply chain operations, and digital transformation. Former senior leader at Home Depot, Amazon, and Staples. | |
Steve Sanghi Board | Chair of the Board | Executive Chairman at Microchip Technology | Chair of the Board since June 2022. Former CEO and Chairman of Microchip Technology, with decades of leadership experience in the semiconductor industry. | |
Umesh Padval Board | Director, Chair of Compensation Committee | None | Director since 2020. Chair of the Compensation Committee. Extensive experience in the semiconductor industry. |
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Your third quarter gross margin decreased to 52.4% from 58.2% in the second quarter, primarily due to licensing revenue in Q2; with the expected decline in endpoint IC revenue and lower E-family reader IC sales due to project timing, how do you plan to stabilize and improve gross margins in the upcoming quarters?
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You mentioned that the authentication opportunity in Asia has been slower to adopt than originally hoped, and that you will be redoubling efforts to ramp authentication; what specific challenges are you facing in driving adoption of your authentication products, and how do you plan to overcome them to meet your growth expectations?
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Given that the M800 ramp is looking promising with two major inlay partners getting certification, but the pace of adoption depends on customer certification and product launches, what risks do you see in achieving widespread adoption of M800, and how are you mitigating potential delays in the certification process?
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With the announcement of Qualcomm's support for RAIN RFID in mobile devices and your excitement about the consumer opportunity, but acknowledging that the entire ecosystem needs to be ready, what concrete steps are you taking to ensure your company is prepared to capitalize on this opportunity, and what is the expected timeline for significant revenue contribution from this segment?
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Considering that you've increased your second half 2024 wafer purchases to fulfill stronger-than-anticipated demand, but inventory levels rose by $7.6 million to $88.4 million, how do you plan to manage inventory risk if demand fluctuates, and what safeguards are in place to prevent excess inventory impacting your balance sheet?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Voyantic Oy | 2023 | Completed acquisition with an aggregate purchase price of $32.7 million structured with cash at closing, $3.6 million in common stock, and $4.6 million in contingent deferred payments, aimed at enhancing RFID inlay, label design, manufacturing, and test systems capabilities by adding key assets such as goodwill ($15.6M) and intangible assets ($18.4M) |
Recent press releases and 8-K filings for PI.
- Impinj delivered robust Q1 2025 performance with revenue of $74.3 million, adjusted EBITDA of $6.5 million, and near year-over-year stability .
- Q1 results included non‑GAAP EPS of $0.21; the company reported a GAAP net loss of $8.5 million versus an adjusted non‑GAAP net income of $6.3 million .
- The segment generated $61.2 million in endpoint IC revenue, underlining strong product performance .
- Reported gross margins were 52.7% alongside a GAAP gross margin of 49.4% .
- Updated Q2 2025 guidance projects revenue between $91 million and $96 million, with the M800 ramp expected to drive improved margins amid tariff-related supply chain adjustments .
- The earnings call emphasized a commitment to growing its endpoint IC platforms and IoT solutions, while highlighting forward‑looking statements and inherent uncertainties .