How Impinj Stock Jumped 20.5% Today
Key Points
Impinj stock closed 20.5% higher after the company reported Q1 2026 results.
Revenue was flat and adjusted earnings fell, but both metrics topped analyst estimates.
A new RFID tag series is ramping up, opening fresh growth opportunities.
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Shares of Impinj (NASDAQ: PI) closed Thursday's trading 20.5% higher. It opened the morning session at an even loftier 36.1% gain. The maker of RAIN RFID tags and tag readers published Q1 2026 results on Wednesday evening, topping Wall Street's expectations.
Installing an RFID tag. Image source: Getty Images.
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Impinj's earnings beat
At first glance, the report doesn't look all that great.
Sales held steady year over year at $74.3 million. Unadjusted net losses grew from $0.30 to $0.83 per share. Adjusted earnings were positive, but fell from $0.31 to $0.14 per share.
However, Wall Street was bracing for something worse. The analyst community's consensus estimates pointed to adjusted earnings near $0.11 per share on revenue in the neighborhood of $72.6 million.
Impinj's customers are finally restocking
Impinj's core customers overstocked on RFID tags in recent years, but the supply chain has finally worked through the oversupply.
"We're beginning to see retail rebuys after a prolonged period of destocking," said CFO Cary Baker on the earnings call. At the same time, Impinj is ramping up production and shipments of a new RFID tag series, which opens up new growth opportunities.
According to CEO Chris Diorio, Impinj is now signing contracts with "our customers' customers." In other words, the company is building direct relationships with the retailers and enterprises that actually deploy the tags, rather than relying mostly on integrators and resellers. A closer relationship with end users should improve Impinj's revenue visibility and pricing power.
There's still work to be done, though. Impinj's stock is still 41% below its 52-week high from last October of $163, and it's also priced at a lofty 51 times forward earnings projections. That's a recipe for intense volatility, with plenty of room to move both higher and lower in a hurry.
Impinj could be your cup of tea (with RFID tracking from the plantation to the store shelf, of course) as long as you're OK with sudden swings.
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Anders Bylund has no position in any of the stocks mentioned. The Motley Fool recommends Impinj. The Motley Fool has a disclosure policy.
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