Impinj has posted strong first quarter 2026 financial results, with revenue and adjusted EBITDA both surpassing the upper end of the company’s guidance range. The RAIN RFID technology provider reported Q1 revenue of $74.3 million and highlighted record endpoint IC bookings that point to significant momentum heading into the second quarter.
CEO Chris Diorio described the results as “solid,” noting that the record bookings are driving a robust outlook for Q2 2026. The company is guiding for second quarter revenue between $103.0 million and $106.0 million, representing substantial sequential growth of roughly 39% to 43% from Q1 levels.
On the profitability front, Impinj reported a GAAP net loss of $25.3 million, or $0.83 per diluted share, for the first quarter. However, the headline loss figure was heavily influenced by an $11.9 million induced conversion expense tied to the company’s convertible notes. Stripping out that one-off charge, the underlying operating performance was considerably stronger. Non-GAAP net income came in at $4.4 million, or $0.14 per diluted share, while adjusted EBITDA reached $3.4 million.
Cash flow generation also showed marked improvement. Impinj delivered positive free cash flow of $2.2 million during Q1, a sharp turnaround from the negative $13.0 million recorded in the same period last year. That swing reflects both operational discipline and growing demand for the company’s RAIN RFID solutions.
GAAP gross margin stood at 49.1% for the quarter, with non-GAAP gross margin reaching 52.4%. Both figures demonstrate the healthy margins that Impinj’s endpoint IC and reader portfolio continues to command in the UHF RFID market.
The second quarter outlook is particularly striking. Beyond the revenue jump, Impinj expects GAAP net income of $7.6 million to $9.1 million, a return to profitability after the Q1 loss. Adjusted EBITDA is projected to land between $27.8 million and $29.3 million, while non-GAAP net income per diluted share is forecast at $0.77 to $0.82.
Impinj sits at the heart of the RAIN RFID ecosystem, supplying the endpoint ICs (tag chips), readers, gateways, and software that enable item-level visibility across retail, logistics, and supply chain applications. The company’s record bookings suggest that enterprise adoption of RAIN RFID technology continues to accelerate, with more organizations deploying UHF-based solutions for inventory management, asset tracking, and loss prevention.
With Q2 shaping up to deliver both strong revenue growth and a return to GAAP profitability, Impinj appears well positioned to capitalize on broadening demand for RAIN RFID infrastructure throughout the remainder of 2026.
Read more at https://www.impinj.com/about-us/news-room/2026/impinj-reports-first-quarter-2026-financial-results