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Investor Presentation Second Quarter 2026
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© 2026 This presentation and the accompanying oral commentary contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any statements about or relating to expectations, projections, trends, plans, ambitions, strategies, and objectives of management for the future; potential markets or market size, technology or business developments, including the anticipated launch of new products, capabilities and technologies, and the adoption or expansion of RAIN technologies by end users; enforceability of our intellectual property rights or our position within the industry; the impact of silicon wafer and reader component availability and supply; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. These forward-looking statements speak only as of the date hereof. Except as required by law, we assume no obligation and do not intend to update forward-looking statements or to conform these statements to actual results or to changes in our expectations. This presentation also contains statistical data, estimates and forecasts that are based on independent industry publications or reports or other publicly available information, as well as other information based on our internal sources. Actual results could differ materially from those expressed in forward-looking statements or in data or estimates made by independent parties or by us. Forward-looking statements, and any statistical data, estimates and forecasts contained in this presentation, are subject to significant risks, uncertainties and assumptions including those identified in the “Risk Factors” section and elsewhere in our most recent filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC). In addition to our results determined in accordance with generally accepted accounting principles (“GAAP”), this presentation includes certain non-GAAP financial measures. Among other non-GAAP financial measures, this presentation uses (1) adjusted EBITDA, which we calculate as GAAP net income (loss), excluding, if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; induced conversion expense; acquisition-related expense; purchase accounting adjustments; other income, net; income from settlement of litigation; interest expense; and income tax expense (benefit); (2) non-GAAP gross margin, which we calculate as GAAP gross margin, excluding, if applicable for the periods presented, the effects of depreciation, purchase accounting adjustments, and the effects of stock-based compensation; (3) non-GAAP net income, which we calculate as GAAP net income (loss), excluding, if applicable for the periods presented, the effects of stock-based compensation; depreciation and amortization; restructuring costs; induced conversion expense; acquisition-related expense; purchase accounting adjustments; income from settlement of litigation; and income tax effects of adjustments; (4) free cash flow, which we calculate as net cash provided by (used in) operating activities, determined in accordance with GAAP, less purchases of property and equipment; and (5) non-GAAP research and development, which we define as GAAP research and development, excluding, if applicable for the periods presented, depreciation and amortization, and stock-based compensation. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents, and our non-GAAP measures may be different from similarly termed non-GAAP measures used by other companies. See the appendix for a reconciliation of those measures to the most directly comparable GAAP measures. Forward Looking Statement & Non-GAAP Financial Measures 2
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© 2026 Impinj at a Glance 3 $190.3 $257.8 $307.5 $366.1 $361.1 100.0 120.0 140.0 160.0 180.0 200.0 220.0 240.0 260.0 280.0 300.0 320.0 340.0 360.0 2021 2022 2023 2024 2025 17% CAGR Develop whole-platform solutions for lighthouse enterprises Success Strategy Win the endpoint IC opportunity at those enterprises Engage partners to repeat our successes at other accounts Compete aggressively for the rest of the endpoint IC market 1 2 3 4 160B+ Endpoint ICs Sold(1) 294 Patents(2) Our vision is boundless IoT, extending the Internet of Things to trillions of everyday items (1) As of March 31, 2026. (2) As of December 31, 2025 6M+ Connectivity Devices Sold(2) Annual Revenue ($M)
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© 2026 Vision 4 Physical Items Discover | Engage | Protect Digital Twins Own | Store | Explore Manufacture Manufacturer Transport Shipper Sell Seller Use Person Recycle Archive Connect Every Thing Trust Every Connection
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© 2026 Success Strategy 5 Systems drive Impinj endpoint ICs • Enable channel partners to win remaining opportunities with Impinj systems • Win majority endpoint IC share Solutions drive Impinj endpoint ICs • Create enterprise solutions; step-and- repeat with solutions partners • Win endpoint IC opportunity Solutions Systems
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© 2026 Platform Products 6
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© 2026 • Unique ID: for pennies per tag • Fast: up to 1,000 items/sec @ 10m • Autonomous: without line-of-sight • Battery-free: essentially unlimited life • Worldwide: spectrum, standards & ecosystem RAIN = RAdio IdentificatioN Complementary IoT Technologies Wireless Technology 7
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© 2026 Market Opportunity 8 RAIN enabled connectivity for >42B(1) items in 2025 We estimate this represents only ~0.4% of connectable items Trillions of consumable items per year(2) 3Bn Tires 3Tn Food & Drink Packaging 600Bn Auto Parts 400Bn Parcels & Postal 80Bn Apparel 9Bn Pallets 4Bn Airline Baggage Other Everyday Items 80Bn Beauty and Personal Care 325Bn General Merchandise (1) RAIN Alliance, “RAIN Alliance Reports 42.7 Billion Tag Chip Shipments in 2025” April 2, 2026. (2) Food Packaging and Caps & Lids based on Euromonitor International, “Global Trends in Food and Drink Packaging, 2017”. Impinj estimate of Auto Parts based on Statista, “Global Car Sales 1990–2019” and “Automotive Industry & Reach,” Timo Unger. Postal based on Universal Postal Union, “State of the Postal Sector 2023” and Pitney Bowes Parcel Shipping Index, August 2023. Impinj estimate of taggable apparel items based on Statista Market Forecast Apparel – worldwide, March 2019. Pallets based on IMARC Group, “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024. Airline Baggage based on IATA and SITA, “RFID for Baggage Tracking, Business Case 2017.” Tires based on Freedonia, “Global tire demand.” General merchandise and beauty and personal care based on internal Impinj estimate.
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© 2026 1.6 2.0 2.4 3.0 3.8 6.0 10.3 12.5 15.4 18.5 21.3 28.9 34.0 44.8 52.8 42.7 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Yearly endpoint ICs shipped in billions Endpoint IC Growth 9 Market Growth(1) In 2025, Impinj grew Endpoint IC shipment volume by 9% over 202424% CAGR (1) 2010 & 2011: Based on VDC Research “Strategic Insights 2013: RFID, Contactless & RTLS Technology“; 2012: Based on IDTechEx "RFID Forecasts, Players and Opportunities 2014–2024,”; 2013 & 2014: Based on IDTechEx "RFID Forecasts, Players and Opportunities 2016-2026,” ; 2015–2025: Data compiled by the RAIN Alliance.
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© 2026 Market Focus 10 Platform Leverage Best performance, reliability and supply are the foundation of our platform success Cloud services support platform linkages and drive additional recurring revenue Retail Supply Chain & Logistics Leading Products RAIN Services Platform Preference Enterprise Solutions Engage lighthouse enterprises to drive solutions opportunities and whole-platform learnings Build platform capabilities and earn corporate trust to win and hold endpoint IC share Food
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© 2026 Representative Deployments 11 (1) Significant RAIN end users; may not all be Impinj customers.
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© 2026 Autonomous readingManual Reading Retail Growth 12 Reading across the enterprise SHIPMENT VERIFICATION INVENTORY MANAGEMENT SALES FLOOR REPLENISHMENT AUTOMATED CHECKOUT LOSS PREVENTION OMNICHANNEL FULFILLMENT
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© 2026 Autonomous readingManual Reading Supply Chain & Logistics Growth 13 Reading across the enterprise SHIPMENT VERIFICATION ASSET MANAGEMENT INVENTORY LOCATION CONTENT VERIFICATION PALLET BUILD VERIFICATION
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© 2026 Winning with Enterprise Solutions 14 Win endpoint IC opportunity Engage lighthouse enterprises Create whole-platform solutions Solve unmet need Scale with partners
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© 2026 Winning with Partners 15 Win majority endpoint IC share Leverage enterprise learnings Advance Impinj platform Deliver solution engines Enable partner solutions Drive recurring revenue Win majority endpoint IC share Leverage enterprise learnings Advance Impinj platform Deliver solution engines Enable partner solutions Drive recurring revenue
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© 2026 Winning with Recurring Revenue 16 Ensure products are genuine Easily deploy across supply chain Utilizes whole Impinj platform Impinj Authenticity Solution Engine Customs & Excise Tax Pharmaceuticals Retail Merchandise Building Materials Item-authentication service Key-generation service Registration Lookup Partner Partner label Monetize endpoint IC and authentication service
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© 2026 Financial Highlights 17 (1) Variations due to rounding. (2) Includes licensing revenue of $15M in 2Q24, $16M in 2Q25 and $17M in 2Q26. $190.3 $257.8 $307.5 $366.1 $361.1 2021 2022 2023 2024 2025 Annual Revenue($M) Quarterly Revenue ($M)(1) Systems revenue includes reader ICs, readers, gateways, tag production systems and software $89.4 $81.0 $74.1 $61.2 $84.6 $78.8 $75.2 $63.2 $96.4 $13.1 $14.2 $17.5 $13.1 $13.3 $17.3 $17.7 $11.0 $12.0$102.5 $95.2 $91.6 $74.3 $97.9 $96.1 $92.8 $74.3 $108.4 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Systems Endpoint ICs(2) (2) (2)
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© 2026 Financial Highlights 18 $17.5 $17.8 $18.6 $20.4 $20.2 2Q25 3Q25 4Q25 1Q26 2Q26 60.4% 53.0% 54.5% 52.4% 60.9% 2Q25 3Q25 4Q25 1Q26 2Q26 Non-GAAP Gross Margin(1) Non-GAAP R&D ($M)(2) (3) (1) Excludes if applicable for the periods presented, depreciation, and stock-based compensation. See appendix for reconciliation to the most directly comparable GAAP measures. (2) Excludes if applicable for the periods presented, depreciation and stock-based compensation. See appendix for reconciliation to the most directly comparable GAAP measures. (3) Licensing revenue of $16M contributed 7.8% to non-GAAP gross margin in 2Q25 and licensing revenue of $17M contributed 7.3% to non-GAAP gross margin in 2Q26. (3)
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© 2026 Financial Highlights 19 $0.80 $0.58 $0.50 $0.14 $0.86 2Q25 3Q25 4Q25 1Q26 2Q26 $27.6 $19.1 $16.4 $3.4 $30.7 2Q25 3Q25 4Q25 1Q26 2Q26 Quarterly Adjusted EBITDA ($M) (1) Non-GAAP EPS (diluted)(2) (1) Excludes 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). See appendix for reconciliation to the most directly comparable GAAP measures. (2) Adjusted for, 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). See appendix for reconciliation to the most directly comparable GAAP measures. (3) Diluted net income per share includes the impact of all convertible debt outstanding at period end, using the if-converted method, which assumes full share settlement. Interest expense is added back to net income and weighted average shares includes total shares issuable at conversion. (4) Diluted net income per share includes the impact of a portion of our convertible debt (2021 Notes) using the if-converted method, which assumes full share settlement. Interest expense related to the 2021 Notes of $0.4 million is added back to net income and weighted average shares includes total shares issuable at conversion. (3) (3) (4) (3)
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© 2026 Financial Highlights • $275.8M(1) federal NOLs • $263.7M(2) cash and investments • $247.3M(2) convertible debt • $63.0M(3) TTM free cash flow • Scalable, asset-light manufacturing model (1) As of December 31, 2025. (2) As of June 30, 2026 (3) Free cash flow for the twelve-month period ended June 30, 2026. We calculate free cash flow as net cash provided by (used in) operating activities, determined in accordance with GAAP, less purchases of property and equipment. See appendix for reconciliation to the most directly comparable GAAP measures. 20
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© 2026 Team CEO, Vice-Chair, Co-Founder 30 Years' Experience Chris Diorio, Ph.D. CFO 20 Years' Experience Cary Baker CIO 30 Years' Experience Cathal Phelan General Counsel | CCO 30 Years' Experience Yukio Morikubo SVP Human Resources 15 Years' Experience Christina Balam 21 SVP | GM Voyantic 20 Years' Experience Jukka Voutilainen EVP | GM Impinj 20 Years' Experience Gahan Richardson CTO 20 Years' Experience Alberto Pesavento EVP Solutions 30 Years' Experience Chris Hundley
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© 2026 Learn about Corporate Citizenship at Impinj by visiting investor.impinj.com/esg Learn about Corporate Citizenship at Impinj by visiting investor.impinj.com/esg
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© 2026 23 Appendix
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© 2026 2025 2026 Q2 Q3 Q4 Q1 Q2 GAAP Gross Margin 57.8% 50.3% 51.8% 49.1% 58.6% Adjustments: Depreciation 2.0% 2.1% 2.3% 2.7% 1.9% Stock-based compensation 0.6% 0.5% 0.5% 0.5% 0.4% Non-GAAP Gross Margin 60.4% 53.0% 54.5% 52.4% 60.9% GAAP Research and development ($M) $24.7 $25.7 $26.9 $28.7 $29.3 Adjustments: Depreciation (1.1) (1.1) (1.2) (1.1) (1.2) Stock-based compensation (6.1) (6.8) (7.2) (7.2) (7.9) Non-GAAP Research and development $17.5 $17.8 $18.6 $20.4 $20.2 GAAP to Non-GAAP Reconciliation(1) (1) Variations due to rounding. 24
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© 2026 (1) Variations due to rounding. GAAP to Non-GAAP Reconciliation(1) 2025 2026 Q2 Q3 Q4 Q1 Q2 GAAP Net Income (Loss) ($M) $11.6 $(12.8) $(1.1) $(25.3) $12.2 Adjustments: Depreciation and amortization 3.7 3.9 4.0 3.8 3.9 Stock-based compensation 13.0 14.6 15.2 14.7 16.3 Other income, net (2.1) (2.6) (2.5) (2.7) (2.3) Induced conversion expense -- 15.0 -- 11.9 -- Interest expense 1.2 1.1 0.8 0.8 0.6 Income tax expense (benefit) 0.1 (0.1) 0.2 -- (0.1) Adjusted EBITDA $27.6 $19.1 $16.4 $3.4 $30.7 25
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© 2026 GAAP to Non-GAAP Reconciliation(1) (1) Variations due to rounding. (2) The tax effects of the adjustments are calculated using the statutory rate, taking into consideration the nature of the item and relevant taxing jurisdiction. (3) Diluted net income per share includes the impact of all convertible debt outstanding at period end, using the if-converted method, which assumes full share settlement. Interest expense is added back to net income and weighted average shares includes total shares issuable at conversion. (4) Diluted net income per share includes the impact of a portion of our convertible debt (2021 Notes) using the if-converted method, which assumes full share settlement. Interest expense related to the 2021 Notes of $0.4 million is added back to net income and weighted average shares includes total shares issuable at conversion. 2025 2026 Q2 Q3 Q4 Q1 Q2 GAAP Net Income (Loss) ($M except per share data) $11.6 $(12.8) $(1.1) $(25.3) $12.2 Adjustments: Depreciation and amortization 3.7 3.9 4.0 3.8 3.9 Stock-based compensation 13.0 14.6 15.2 14.7 16.3 Induced conversion expense -- 15.0 -- 11.9 -- Income tax effects of adjustments(2) (3.8) (2.9) (2.3) (0.8) (5.4) Non-GAAP Net income $24.5 $17.7 $15.6 $4.4 $27.0 Non-GAAP Net income per share – Diluted $0.80(3) $0.58(3) $0.50(4) $0.14 $0.86(3) 26
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© 2026 GAAP to Non-GAAP Reconciliation(1) (1) Variations due to rounding. 2025 2026 Q2 Q3 Q4 Q1 Q2 GAAP Net cash provided by operating activities ($M) $33.9 $20.9 $15.1 $4.0 $31.6 Adjustments: Purchases of property and equipment (6.5) (2.9) (1.5) (1.7) (2.4) Free cash flow $27.3 $18.0 $13.6 $2.2 $29.2 27