EarningsQ2 2026 Earnings Report
MX:PI Q2 2026 EPS Results
Actual EPS$14.60
Consensus EPS$13.50
Beat/MissBeat by +$1.10
One Year Ago EPS$13.58
MX:PI Q2 2026 Revenue Results
Actual Revenue$1.84B
Expected Revenue$1.78B
Beat/MissBeat by +$63.98M
YoY Revenue Growth+10.70%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:PI Upcoming Earnings
IMPINJ's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:PI Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated multiple operational and financial milestones — record revenue, record adjusted EBITDA and EPS, record endpoint IC volumes and strong Q3 guidance — supported by product mix improvements, Gen2X adoption and an ahead-of-schedule custom ASIC ramp that improves channel visibility. Key risks include a YoY decline in systems revenue, historical channel inventory timing issues (and modest tariff‑driven pull-ins), operational complexity from custom ASICs, competitive product introductions, and several important new markets (food, DPP) still in pilot/early stages. On balance, the company presented strong growth, profitability and cash generation with manageable execution and timing risks.Company Guidance
Record Revenue and Strong Sequential Growth
Revenue was a record $108.4M in Q2 2026, up 46% sequentially from $74.3M and up 11% year-over-year from $97.9M.
Endpoint IC Revenue and Unit Volume Records
Endpoint IC revenue reached a record $96.4M, up 53% sequentially (from $63.2M) and up 14% year-over-year (from $84.6M); endpoint IC unit volumes set a new quarterly record and bookings hit all-time highs for a second consecutive quarter.
Strong Profitability and Cash Generation
Adjusted EBITDA was a record $30.7M (up from $3.4M in Q1 2026 and $27.6M YoY) with an adjusted EBITDA margin of 28.3% (record). Non-GAAP net income was a record $27.0M or $0.86 per diluted share. Free cash flow was $29.2M and cash, cash equivalents & investments totaled $263.7M.
Improved Gross Margins Driven by Product Mix
Overall gross margin was a record 60.9% (compared with 52.4% in Q1 2026 and 60.4% in Q2 2025). Excluding licensing, product gross margin was 53.6% versus 52.6% in Q2 2025, and management expects product gross margin to increase sequentially in Q3.
Product-Line Strength and Supply Support
Reader IC revenue beat expectations and is forecast to be the fastest-growing product line in Q3. Management states they have sufficient wafers and strong support from their foundry partner to meet demand.
Solutions Momentum, Gen2X and Custom ASIC Adoption
Company is advancing from components toward solutions (readers, gateways, software, ML). Gen2X adoption cited as materially improving readability in handheld and fixed-reading use cases. A custom ASIC ramp for a large North American supply chain customer is ahead of schedule with full conversion expected in Q3, improving channel visibility.
Food Market Engagement
Three of the five largest U.S. grocers have announced pilots or deployments (bakery, deli, meats). Management outlines four food program types (store replenishment, in‑store inventory, loss identification, automated self-checkout) and reports encouraging early results and sizable enterprise engagement.
Outlook: Continued Sequential Growth Guided for Q3
Q3 revenue guidance of $105.5M–$108.5M implies ~17% quarter-over-quarter increase at the midpoint versus Q2 product revenue ($91.4M). Q3 adjusted EBITDA guided to $20.7M–$22.2M and non-GAAP net income guided to $18.5M–$20.0M (EPS $0.59–$0.63).
MX:PI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed