# EDGAR Filing Document

**Accession Number:** 0001114995
**File Stem:** 0001193125-26-191695
**Filing Date:** 2026-4
**Character Count:** 23872
**Document Hash:** 7b39f4cb44181eee4f8fa2e942ecd27f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-191695.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-191695

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 10

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IMPINJ INC
- **CENTRAL INDEX KEY:** 0001114995
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRONIC COMPONENTS, NEC [3679]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 912041398
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37824
- **FILM NUMBER:** 26916370

**BUSINESS ADDRESS:**
- **STREET 1:** 400 FAIRVIEW AVENUE NORTH
- **STREET 2:** SUITE 1200
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98109
- **BUSINESS PHONE:** 206-517-5300

**MAIL ADDRESS:**
- **STREET 1:** 400 FAIRVIEW AVENUE NORTH
- **STREET 2:** SUITE 1200
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98109

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, DC 20549** 

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**FORM** 8-K

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**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported):** April 29, 2026

Impinj, Inc.

**(Exact name of registrant as specified in its charter)** 

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---

| | | |
|:---|:---|:---|
| Delaware | 001-37824 | 91-2041398 |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)**<br>| **(IRS Employer**<br>**Identification No.)** |

---

400 Fairview Avenue North**,** Suite 1200

Seattle**,** Washington 98109

**(Address of principal executive offices, including zip code)** 

(206) 517-5300

**(Registrant's telephone number, including area code)** 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, par value $0.001 per share | PI | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| &nbsp;&nbsp;**Item 2.02** | &nbsp;&nbsp;**Results of Operations and Financial Condition** |

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On April 29, 2026, Impinj, Inc. (the "Company") issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release, entitled "Impinj Reports First Quarter 2026 Financial Results" is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

**Item 9.01 Financial Statements and Exhibits**

(d) Exhibits

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| | |
|:---|:---|
| 99.1 | [<u>Press release dated April 29, 2026.</u>](pi-ex99_1.htm) |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K. |

---

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| **Impinj, Inc.** | **Impinj, Inc.** |
| By: | /s/ Chris Diorio |
|  | Chris Diorio<br>Chief Executive Officer |

---

Date: April 29, 2026

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## Exhibit 99.1

**Exhibit 99.1**

Impinj Reports First Quarter 2026 Financial Results

SEATTLE, WA, April 29, 2026– Impinj, Inc. (Nasdaq: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the first quarter ended March 31, 2026.

"Our first-quarter results were solid, with revenue and adjusted EBITDA exceeding the top end of our guide range," said Chris Diorio, Impinj co-founder and CEO. "Endpoint IC bookings hit an all-time record, engendering a strong second-quarter revenue outlook"

**First Quarter 2026 Financial Summary**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Revenue of $74.3 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•GAAP gross margin of 49.1%; non-GAAP gross margin of 52.4%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•GAAP net loss of $25.3 million, or loss of $0.83 per diluted share using 30.3 million shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Adjusted EBITDA of $3.4 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Non-GAAP net income of $4.4 million, or income of $0.14 per diluted share using 31.0 million shares

A reconciliation between GAAP and non-GAAP information is contained in the tables below. Additionally, descriptions of these non-GAAP financial measures are provided in the "Non-GAAP Financial Measures" sections below.

**Second Quarter 2026 Financial Outlook**

Impinj provides guidance based on current market conditions and expectations; actual results may differ materially. Please refer to the comments below regarding forward-looking statements. The following table presents Impinj's financial outlook for the second quarter of 2026 (in millions, except per share data):

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| | |
|:---|:---|
|  | **Three Months Ending** |
|  | **June 30, 2026** |
| Revenue | $103.0 to $106.0 |
| GAAP Net income | $7.6 to $9.1 |
| Adjusted EBITDA income | $27.8 to $29.3 |
| GAAP Weighted-average shares — diluted | 31.3 to 31.5 |
| GAAP Net income per share — diluted | $0.24 to $0.29 |
| Non-GAAP Net income | $24.6 to $26.1 |
| Non-GAAP Weighted-average shares — diluted<sup>(1)</sup> | 32.6 to 32.8 |
| Non-GAAP Net income per share — diluted<sup>(1)</sup> | $0.77 to $0.82 |

---

<sup>(1)</sup> Non-GAAP diluted net income per share includes the impact of our convertible debt, using the if-converted method, which assumes full share settlement. To arrive at Non-GAAP diluted net income per share, interest expense is added back to net income and weighted average shares include total shares issuable at conversion of 1.2 million.

A reconciliation between GAAP and non-GAAP financial measures is provided in the "Non-GAAP Financial Measures" section below.

**Conference Call Information**

Impinj will host a conference call and webcast to discuss its first-quarter 2026 results and second-quarter 2026 outlook today, April 29, 2026 at 5:00 p.m. ET / 2:00 p.m. PT. Interested parties may access the call by dialing +1-412-317-1863. A live webcast and replay will also be available on the company's website at investor.impinj.com. Following the call, a telephonic replay will be available for five business days and may be accessed by dialing +1-412-317-0088 and entering passcode 6529184.

Management's prepared written remarks, along with quarterly financial data, will be made available on Impinj's website at investor.impinj.com along with this release.

**Forward-Looking Statements**

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our financial guidance and considerations for the second quarter of 2026 and future periods.

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Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law.

**About Impinj** 

Impinj (Nasdaq: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com

Impinj is a registered trademark of Impinj, Inc. All other trademarks are the property of their owners.

###

**For more information, contact:**

Investor Relations

Andy Cobb, CFA

Vice President, Corporate Finance & Investor Relations

+1-206-315-4470

ir@impinj.com

Media Relations<br>Emily Schauer<br>Senior Corporate Communications Manager<br>+1 206-209-2923<br>eschauer@impinj.com

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**IMPINJ, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(in thousands, except par value, unaudited)**

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| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| **Assets:** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $32295 | $48206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 99544 | 127130 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 72354 | 70785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory | 86300 | 84961 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 8545 | 8135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 299038 | 339217 |
| Long-term investments | 103385 | 103766 |
| Property and equipment, net | 49672 | 50290 |
| Intangible assets, net | 8815 | 9501 |
| Operating lease right-of-use assets | 20500 | 20896 |
| Other non-current assets | 671 | 795 |
| Goodwill | 20443 | 20721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $502524 | $545186 |
| **Liabilities and stockholders' equity:** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $15442 | $13614 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation and employee related benefits | 10827 | 9936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued and other current liabilities | 3352 | 3664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 1521 | 776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt |  | 96745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of deferred revenue | 1358 | 1791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 32500 | 126526 |
| Long-term debt | 241470 | 184141 |
| Operating lease liabilities, net of current portion | 22078 | 22536 |
| Deferred tax liabilities, net | 1929 | 2062 |
| Deferred revenue, net of current portion | 641 | 690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 298618 | 335955 |
| **Stockholders' equity:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.001 par value | 30 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 627840 | 606852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income | 1457 | 2509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (425421) | (400160) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 203906 | 209231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $502524 | $545186 |

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**IMPINJ, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except per share data, unaudited)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Revenue | $74250 | $74277 |
| Cost of revenue | 37791 | 37596 |
| Gross profit | 36459 | 36681 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 28724 | 25314 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 9757 | 8055 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 12609 | 12396 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 537 | 485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 51627 | 46250 |
| Loss from operations | (15168) | (9569) |
| Other income, net | 2666 | 2060 |
| Induced conversion expense | (11938) |  |
| Interest expense | (773) | (1223) |
| Loss before income taxes | (25213) | (8732) |
| Income tax benefit (expense) | (48) | 281 |
| Net loss | $(25261) | $(8451) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss per share — basic | $(0.83) | $(0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss per share — diluted | $(0.83) | $(0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares outstanding — basic | 30292 | 28639 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted-average shares outstanding — diluted | 30292 | 28639 |

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**IMPINJ, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands, unaudited)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| **Operating activities:** |  |  |
| &nbsp;&nbsp;Net loss | $(25261) | $(8451) |
| &nbsp;&nbsp;Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 3845 | 3521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 14691 | 12522 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accretion of discount or amortization of premium on investments | (188) | (590) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance costs | 517 | 414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Induced conversion expense related to convertible notes | 11938 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax expense | (103) | (93) |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (1601) | (220) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (1355) | 896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (202) | 870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 1402 | (6623) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation and employee related benefits | 913 | (13401) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | (832) | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | 390 | 653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 292 | (887) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (466) | (159) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 3980 | (11143) |
| **Investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of investments | (21223) | (25910) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturities of investments | 48700 | 49000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (1747) | (1863) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 25730 | 21227 |
| **Financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of 2021 Notes | (47031) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of stock options and employee stock purchase plan | 3010 | 5847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments of taxes on restricted stock units | (1553) | (787) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (45574) | 5060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents | (47) | 120 |
| Net increase (decrease) in cash and cash equivalents | (15911) | 15264 |
| **Cash and cash equivalents** |  |  |
| Beginning of period | 48206 | 46053 |
| End of period | $32295 | $61317 |

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**Non-GAAP Financial Measures**

To supplement our condensed consolidated financial statements prepared and presented in accordance with U.S. generally accepted accounting principles, or GAAP, our key non-GAAP performance measures include adjusted EBITDA, non-GAAP net income (loss) and free cash flow as defined below. We use adjusted EBITDA and non-GAAP net income (loss) as key measures to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operating plans. We use free cash flow as a key measure when assessing our sources of liquidity, capital resources, and quality of earnings. We believe these measures provide useful information for period-to-period comparisons of our business to allow investors and others to understand and evaluate our operating results in the same manner as our management and board of directors. Our presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from similarly termed non-GAAP measures used by other companies.

<u>Adjusted EBITDA</u>

We define adjusted EBITDA as net income (loss) determined in accordance with GAAP, excluding, if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; settlement income and related costs; induced conversion expense; other income, net; interest expense; acquisition related expense and related purchase accounting adjustments; and income tax benefit (expense).

<u>Non-GAAP Net Income (Loss)</u> 

We define non-GAAP net income as net income (loss), excluding, if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; settlement income and related costs; induced conversion expense; acquisition related expense and related purchase accounting adjustments; and the corresponding income tax impacts of adjustments to net income (loss).

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<u>Free cash flow</u>

We define free cash flow as net cash provided by (used in) operating activities, determined in accordance with GAAP, less purchases of property and equipment.

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**IMPINJ, INC.**

**RECONCILIATIONS OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES**

 **(in thousands, except percentages, unaudited)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| GAAP Gross margin | 49.1% | 49.4% |
| Adjustments: |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 2.7% | 2.6% |
| &nbsp;&nbsp;Stock-based compensation | 0.5% | 0.7% |
| Non-GAAP Gross margin | 52.4% | 52.7% |
| Certain amounts may be off due to rounding | Certain amounts may be off due to rounding | Certain amounts may be off due to rounding |
| GAAP Net loss | $(25261) | $(8451) |
| Adjustments: |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 3845 | 3521 |
| &nbsp;&nbsp;Stock-based compensation | 14691 | 12522 |
| &nbsp;&nbsp;Other income, net | (2666) | (2060) |
| &nbsp;&nbsp;Induced conversion expense | 11938 |  |
| &nbsp;&nbsp;Interest expense | 773 | 1223 |
| &nbsp;&nbsp;Income tax benefit (expense) | 48 | (281) |
| Adjusted EBITDA | $3368 | $6474 |
| GAAP Net loss | $(25261) | $(8451) |
| Adjustments: |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 3845 | 3521 |
| &nbsp;&nbsp;Stock-based compensation | 14691 | 12522 |
| &nbsp;&nbsp;Induced conversion expense | 11938 |  |
| &nbsp;&nbsp;Income tax effects of adjustments <sup>(1)</sup> | (815) | (1288) |
| Non-GAAP Net income | $4398 | $6304 |
| Non-GAAP Net income per share — diluted | $0.14 | $0.21 |
| GAAP Weighted-average shares — diluted | 30292 | 28639 |
| &nbsp;&nbsp;Dilutive shares from stock plans | 708 | 806 |
| Non-GAAP Weighted-average shares — diluted | 31000 | 29445 |
| <sup>(1)</sup> The tax effects of the adjustments are calculated using the statutory rate, taking into consideration the nature of the item and relevant taxing jurisdictions. | <sup>(1)</sup> The tax effects of the adjustments are calculated using the statutory rate, taking into consideration the nature of the item and relevant taxing jurisdictions. | <sup>(1)</sup> The tax effects of the adjustments are calculated using the statutory rate, taking into consideration the nature of the item and relevant taxing jurisdictions. |

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**IMPINJ, INC.**

**RECONCILIATIONS OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES**

 **(in thousands, except percentages, unaudited)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| GAAP Net cash provided by (used in) operating activities | $3980 | $(11143) |
| Adjustments: |  |  |
| &nbsp;&nbsp;Purchases of property and equipment | (1747) | (1863) |
| Free cash flow | $2233 | $(13006) |

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**IMPINJ, INC.**

**RECONCILIATIONS OF GAAP FINANCIAL OUTLOOK TO NON-GAAP FINANCIAL OUTLOOK**

**(in thousands, except per share data, unaudited – calculated at the midpoint of the outlook range)**

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| | |
|:---|:---|
|  | **Three Months Ending** |
|  | **June 30,** |
|  | **2026** |
| GAAP Net income | $8318 |
| Adjustments: |  |
| &nbsp;&nbsp;Forecasted Depreciation and amortization | 3850 |
| &nbsp;&nbsp;Forecasted Stock-based compensation | 18050 |
| &nbsp;&nbsp;Forecasted Interest expense | 632 |
| &nbsp;&nbsp;Forecasted Other income, net | (2450) |
| &nbsp;&nbsp;Forecasted Income tax expense | 100 |
| Adjusted EBITDA | $28500 |
| GAAP Net income | $8318 |
| Adjustments: |  |
| &nbsp;&nbsp;Forecasted Depreciation and amortization | 3850 |
| &nbsp;&nbsp;Forecasted Stock-based compensation | 18050 |
| &nbsp;&nbsp;Forecasted Income tax effects of adjustments | (4875) |
| Non-GAAP Net income | $25343 |
| GAAP Net income per share — diluted | $0.26 |
| Non-GAAP Net income per share — diluted | $0.80 |
| GAAP Weighted-average shares — diluted | 31400 |
| &nbsp;&nbsp;Dilutive shares | 1300 |
| Non-GAAP Weighted-average shares — diluted | 32700 |

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