Impinj (PI) Cash Flow: Operating & Free Cash Flow

Impinj Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Impinj, Inc. (PI) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-10.85	40.84	-43.37	-24.30	-51.26	-51.92	-22.99	-35.23	-17.32
Depreciation & Amortization	15.04	13.59	13.62	6.04	4.60	4.50	4.81	4.53	3.95
Deferred Income Tax	-0.40	-0.57	-0.93	0.00	0.00	0.00	0.00	-0.40	0.07
Stock Based Compensation	0.00	56.55	47.99	42.44	40.50	25.68	0.00	11.32	7.43
Change in Working Capital	-14.80	16.04	-68.24	-27.20	0.29	0.96	4.12	8.80	-30.11
Change in Accounts Receivable	-13.73	-2.00	-3.71	-14.55	-10.45	-1.27	-5.27	3.78	-4.82
Change in Inventory	14.49	-2.22	-49.58	-24.44	14.37	-2.18	10.57	2.36	-19.35
Change in Accounts Payable	-3.38	9.27	-12.30	7.37	2.34	3.49	1.05	0.33	-2.84
Change in Other Working Capital	-12.18	2.99	0.92	0.14	-5.98	0.92	-2.22	2.33	-3.10
Other Operating Activities	69.75	2.99	0.61	3.66	12.34	3.90	18.76	-0.80	0.10
Net Cash from Operating Activities	58.75	128.31	-49.38	0.64	6.47	-16.88	4.71	-11.78	-35.89
Investing Activities
Capital Expenditures	-12.86	-17.11	-18.59	-12.08	-16.23	-3.07	-2.43	-6.37	-6.55
Acquisitions	0.00	0.00	-23.36	0.28	0.00	0.00	0.00	0.00	0.00
Purchases of Investments	-202.77	-202.06	157.77	-205.75	-84.41	-82.74	-72.41	-51.65	-49.13
Sales/Maturities of Investments	167.62	26.61	157.77	114.75	82.00	49.52	61.74	52.35	77.08
Other Investing Activities	0.00	0.00	-0.02	0.00	0.00	0.00	0.00	0.70	27.95
Net Cash from Investing Activities	-48.02	-192.57	115.81	-102.80	-18.64	-36.29	-13.10	-5.67	21.40
Financing Activities
Debt Repayment	-17.55	0.00	0.00	-17.56	94.80	-0.26	48.63	13.00	-3.92
Common Stock Issued	11.80	20.28	8.74	15.42	0.00	10.16	9.13	2.69	4.06
Other Financing Activities	-3.17	-4.60	8.74	0.00	17.65	0.00	0.00	2.69	4.06
Net Cash from Financing Activities	-8.93	15.68	8.74	-2.15	112.44	9.90	57.76	15.69	0.14
Summary
Effect of Forex Changes on Cash	0.35	-0.16	0.03	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	2.15	-48.74	75.20	-104.31	100.27	-43.26	49.37	-1.76	-14.35
Cash at Beginning of Period	46.05	94.79	19.60	123.90	23.64	66.90	17.53	19.29	33.64
Cash at End of Period	48.21	46.05	94.79	19.60	123.90	23.64	66.90	17.53	19.29
Free Cash Flow	45.89	111.20	-67.97	-11.44	-9.77	-19.95	2.28	-18.14	-42.44
Supplemental Disclosures
Interest Paid	2.84	3.23	3.23	3.42	1.56	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Impinj Cash Flow

What is Impinj's free cash flow?

Impinj generated free cash flow of $45.88M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $58.75M minus $12.86M of capital expenditures. That was down 58.7% from $111.20M a year earlier. Free cash flow equaled 12.7% of revenue.

How much does Impinj spend on capital expenditures?

Impinj spent $12.86M on capital expenditures in fiscal 2025, compared with $17.11M a year earlier. That equals 21.9% of operating cash flow.

Does Impinj pay dividends or buy back shares?

Impinj's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition