Impinj, Inc.

Industry and vision

• Designs and sells a Boundless Internet of Things (IoT) platform that connects items to the cloud.
• Focused on extending item connectivity from tens of billions to trillions of items and delivering item data to enterprises and end users.
• Core technology centers on the RAIN UHF RFID standard, Gen2X extensions, and a platform spanning endpoint ICs, reader ICs, finished readers, gateways, tag production systems, software, and cloud services.

Core products and offerings

• Endpoint ICs: miniature radios-on-a-chip that store a serialized item identifier and may include cryptographic keys for authentication; used by OEMs to attach to items or packaging.
• Reader ICs: embedded or finished reader chips used to wirelessly discover, inventory, and engage endpoint ICs.
• Reading systems: high-performance finished readers and gateways, including gateways with beamforming for item location and tracking.
• Platform software and cloud services: enterprise software and cloud services for item resolution, authentication, and solution enablement.
• Tag production systems: Voyantic Oy provides tag production design, manufacturing, and test systems; Impinj acquired Voyantic in April 2023 to extend the platform to inlay production.
• Deployment model: products sold directly and through a broad ecosystem of partners (OEMs, ODMs, SIs, VARs, distributors, ISVs, and solution partners). Platform enhancements (Gen2X) aim to improve performance, reliability, and ease of use.

Market position and standards

• Pioneered and leads in the RAIN RFID ecosystem, helped develop the Gen2 standard, and co-founded the RAIN Alliance.
• Maintains a portfolio of patents and engages with standards bodies such as GS1 and ISO to promote adoption.

Key markets and use cases

• Retail: in-store inventory visibility, omnichannel fulfillment, self-checkout, and loss prevention.
• Supply chain & logistics: shipment verification, parcel tracking, high-speed conveyor sortation, RTI tracking, and automated asset management.
• Other industries: automotive, aviation, banking, data centers, food, healthcare, industrial/manufacturing, linen and uniform tracking, sports, travel, and more.
• Common use cases: asset tracking, inventory visibility, and process optimization.

Scale and reach

• More than 150 billion items connected to date.
• Certified to operate in over 40 countries; RAIN adoption present in 81 countries.

International footprint and revenue mix

• In 2025, 79% of total revenue was derived from sales outside the United States.

Customers and concentration

• In 2025, three customers accounted for 61% of total revenue: Customer A (34%), Customer B (15%), Customer C (12%).
• Sales are driven largely through a partner ecosystem, with direct engagements for some large, discrete projects.

People and organization

• Employees: 457 as of December 31, 2025, located across the Americas, Europe, and Asia Pacific.

Intellectual property and licenses

• Emphasizes U.S. patents with a smaller international footprint. As of December 31, 2025:
  • 285 issued and allowed U.S. patents
  • 9 issued international patents
  • 20 U.S. patent applications pending
  • 19 international patent applications pending
• Owns and licenses a mix of patents and trade secrets, with inbound and outbound licenses and cross-license arrangements tied to standardization efforts.

Manufacturing and strategic partnerships

• Foundry and contract manufacturing:
  • Endpoint IC wafers primarily manufactured by TSMC in Taiwan; testing performed in Asia.
  • Reader IC wafers also produced at TSMC; Plexus manufactures readers and gateways in Asia.
  • Tag production systems (Voyantic) manufactured in Finland.
• Partnerships and distribution:
  • Large partner ecosystem of hundreds of OEMs/ODMs, SIs, distributors, VARs, and software solution partners.
  • Sales emphasize platform preference to deliver end-to-end solutions across the platform.

Growth strategy highlights

• Enterprise solutions: develop and deploy repeatable enterprise use cases with top-tier partners.
• RAIN silicon: invest in endpoint IC and reader IC performance, cost reduction, and platform integration.
• Platform and services: expand platform capabilities and cloud services for item authentication, device/solution management, and tag production systems to broaden reach and recurring revenue.
• Licensing and alliances: monetize IP through licensing while maintaining strategic relationships and contributing to standards.

Financial snapshot

• Profitability history: the company experienced losses through 2024 and achieved profitability periodically.
• Revenue sensitivity and mix: endpoint ICs have historically been a large revenue source; gross margins can be affected by product mix, pricing terms, and component costs.
• Revenue concentration and sales model: revenue is largely driven by endpoint ICs and sales through an ecosystem of partners; three customers accounted for 61% of 2025 revenue, and 79% of 2025 revenue came from international sales.

Headquarters and contact

• Principal executive office: 400 Fairview Avenue North, Suite 1200, Seattle, WA 98109
• Website: www.impinj.com