Impinj, Inc. (PI): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how everyday items connect to the digital world? Impinj, Inc. (PI) is at the forefront, driving a future where physical items are wirelessly connected to their digital twins in the cloud, with over 75 billion items already connected. But how did Impinj, with its mission to 'connect every thing,' get its start, and what's the story behind its name? Keep reading to explore the history, ownership structure, mission, and operational mechanics of Impinj, and discover how it's making waves in the Internet of Things (IoT) landscape.

Impinj, Inc. (PI) History

Founding Timeline

Year established

The company was established in 2000.

Original location

The company was originally located in Pasadena, California. It later moved to Seattle, Washington.

Founding team members

The founding team members include:

• Carver Mead
• Chris Diorio
• Alain Martin

Initial capital/funding

In 2000, the company secured $2 million in seed funding from Alliance of Angels, and subsequently obtained $12.5 million through Series A funding led by Madrona Venture Group in 2003.

Evolution Milestones

Transformative Moments

• Strategic Shift to Focus on RAIN RFID: A pivotal decision to concentrate on the RAIN RFID (Radio Frequency Identification) technology, which uses UHF frequencies, proved transformative. This focus allowed the company to specialize and excel in a rapidly growing segment of the RFID market.
• Key Partnerships and Acquisitions: Strategic alliances and acquisitions, such as securing intellectual property from Intel in 2014, have been crucial. These moves bolstered the company's technology base and market position, paving the way for enhanced product offerings and competitive advantage.
• Successful IPO in 2016: The company's IPO in 2016 was a game-changer, providing the capital needed for expanded research and development, as well as global market penetration. This event marked a significant milestone in the company's growth, enhancing its visibility and credibility in the technology sector.
• Technological Advancements: Continuous innovation in RFID technology, particularly the development of high-performance reader chips and tags, has set the company apart. These advancements have enabled the company to meet the evolving needs of industries requiring efficient and accurate tracking solutions.

To gain more insights, explore Mission Statement, Vision, & Core Values of Impinj, Inc. (PI).

Impinj, Inc. (PI) Ownership Structure

Impinj, Inc. has a mix of institutional, mutual fund, and individual shareholders, reflecting a diverse investor base. Understanding this ownership structure provides insights into the company's governance and strategic direction. For more in-depth analysis, check out: Exploring Impinj, Inc. (PI) Investor Profile: Who’s Buying and Why?

Impinj, Inc.'s Current Status

Impinj, Inc. is a publicly traded company, listed on the NASDAQ under the ticker symbol PI.

Impinj, Inc.'s Ownership Breakdown

As of the latest available data for the fiscal year 2024, the ownership of Impinj, Inc. is distributed as follows:

Impinj, Inc.'s Leadership

Impinj's leadership team is responsible for the strategic direction and operational management of the company. Key members include:

• Chris Diorio: Co-Founder and CEO
• Cary Baker: CFO

The leadership team is complemented by a board of directors with diverse backgrounds and experiences, ensuring strong corporate governance.

Impinj, Inc. (PI) Mission and Values

Impinj aims to connect everyday items to the internet, driving efficiency and improving lives through its RAIN RFID technology and solutions. The company values innovation, collaboration, and a commitment to making a positive impact on the world.

Impinj's Core Purpose

Official mission statement

Impinj doesn't have one single, universally published official mission statement. Instead, they articulate their purpose and goals through various statements and initiatives. Here's a breakdown:

• Connecting items to the Internet: Impinj focuses on enabling businesses and people to identify, locate, and authenticate billions of everyday items by wirelessly connecting them to the internet.
• RAIN RFID Technology: They develop and provide RAIN RFID solutions, which include endpoint ICs, readers, gateways, and software.
• Driving Efficiency and Improving Lives: Impinj's technology aims to improve efficiency, reduce waste, and enhance experiences in various industries, ultimately leading to a better world.

In essence, Impinj's mission is to provide a platform for the Internet of Things (IoT) by connecting physical items to the digital world through RAIN RFID technology, thereby creating value for businesses and improving people's lives.

Vision statement

Impinj envisions a future where:

• Boundless IoT: Everyday items are seamlessly connected, creating a vast network of information and insights.
• Enhanced Business Operations: Businesses can leverage real-time data about their inventory and assets to optimize operations, reduce costs, and improve customer experiences.
• Improved Consumer Experiences: Consumers benefit from enhanced product information, personalized experiences, and greater convenience.
• Ubiquitous RAIN RFID: RAIN RFID becomes the standard for connecting items in various industries, from retail and healthcare to supply chain and logistics.

This vision reflects Impinj's ambition to be at the forefront of the IoT revolution, driving innovation and creating a world where physical items are seamlessly integrated into the digital realm.

Company slogan/tagline

Impinj uses several slogans and taglines to communicate its value proposition, including:

• 'Connecting Everything': This tagline emphasizes Impinj's focus on connecting everyday items to the internet, creating a vast network of information and insights.
• 'RAIN RFID': While not a traditional tagline, the emphasis on RAIN RFID highlights the company's core technology and its role in enabling the Internet of Things.

These slogans reflect Impinj's commitment to driving innovation and creating a world where physical items are seamlessly integrated into the digital realm. For more in-depth information, visit: Mission Statement, Vision, & Core Values of Impinj, Inc. (PI).

Impinj, Inc. (PI) How It Works

Impinj, Inc. provides RAIN RFID (Radio Frequency Identification) solutions that enable businesses to identify, locate, and authenticate items, helping to drive efficiency and improve operations.

Impinj's Product/Service Portfolio

Impinj's Operational Framework

Impinj operates through a comprehensive framework that integrates hardware, software, and services to deliver RAIN RFID solutions. Key aspects of their operational framework include:

• Product Development: Impinj invests heavily in research and development to create innovative RAIN RFID products. This includes designing endpoint ICs (integrated circuits), developing reader hardware and software, and enhancing their cloud-based platform.
• Manufacturing: The company utilizes a network of manufacturing partners to produce its endpoint ICs, readers, and gateways. Impinj focuses on ensuring high quality and reliability in its manufacturing processes.
• Sales and Marketing: Impinj employs a direct sales force and works with a network of channel partners to reach customers across various industries. Their marketing efforts focus on educating potential customers about the benefits of RAIN RFID and showcasing Impinj's solutions.
• Customer Support: Impinj provides technical support and services to help customers deploy and maintain their RAIN RFID systems. This includes training, consulting, and ongoing support.
• Ecosystem Partnerships: Impinj fosters a strong ecosystem of partners, including software developers, system integrators, and tag manufacturers, to expand the reach and functionality of its RAIN RFID platform.

Impinj's Strategic Advantages

Impinj's success in the RAIN RFID market is underpinned by several strategic advantages:

• Technology Leadership: Impinj holds a leading position in RAIN RFID technology, with a strong portfolio of patents and a reputation for innovation. Their endpoint ICs, readers, and software are known for their performance, reliability, and advanced features.
• Scalable Platform: Impinj's RAIN RFID platform is designed to scale from small deployments to large, enterprise-wide systems. Their cloud-based software and robust hardware enable customers to track billions of items in real-time.
• Ecosystem Strength: Impinj's extensive ecosystem of partners enhances the value of its solutions and expands its market reach. These partners provide complementary products and services, such as software applications, system integration, and tag manufacturing.
• Focus on End-to-End Solutions: Impinj offers a comprehensive suite of products and services that address all aspects of RAIN RFID deployments. This includes endpoint ICs, readers, gateways, software, and support, making it easier for customers to adopt and implement RAIN RFID.
• Market Expertise: With years of experience in the RAIN RFID market, Impinj has developed deep expertise in various industries and applications. This enables them to provide tailored solutions and valuable insights to their customers.

To gain more insights into the company's values, check out Mission Statement, Vision, & Core Values of Impinj, Inc. (PI).

Impinj, Inc. (PI) How It Makes Money

Impinj primarily generates revenue through its RAIN RFID endpoint ICs, reader ICs, readers, gateways, and software, which enable businesses to identify, locate, and authenticate items.

Impinj's Revenue Breakdown

While precise percentage breakdowns can fluctuate yearly, here's a generalized view based on available information and industry trends:

Impinj's Business Economics

Impinj's business economics are influenced by several key factors:

• Pricing Strategy: Impinj employs a tiered pricing model for its endpoint ICs, with prices varying based on volume, features, and performance. Higher volumes typically command lower per-unit prices, encouraging large-scale deployments.
• Cost of Goods Sold (COGS): A significant portion of Impinj's expenses comes from the cost of manufacturing its ICs. These costs are affected by silicon wafer prices, fabrication yields, and packaging expenses.
• Operating Expenses: These include research and development (R&D), sales and marketing, and general and administrative costs. R&D is crucial for maintaining a competitive edge through innovation, while sales and marketing efforts drive revenue growth.
• Gross Margins: Impinj aims to maintain healthy gross margins, balancing competitive pricing with cost management. Gross margins are influenced by product mix, manufacturing efficiencies, and pricing pressures.
• Ecosystem Partnerships: Impinj collaborates with a network of partners, including inlay manufacturers, system integrators, and software developers. These partnerships extend Impinj's reach and enhance the value proposition of its platform.

Impinj's Financial Performance

Key aspects of Impinj's financial performance include:

• Revenue Growth: Impinj has demonstrated substantial revenue growth driven by increasing adoption of RAIN RFID technology across various industries, including retail, supply chain, and logistics.
• Gross Profit Margin: In the fiscal year 2024, Impinj reported a gross profit margin of approximately 45-50%, reflecting its ability to manage production costs and maintain competitive pricing.
• Operating Expenses: Impinj's operating expenses include significant investments in research and development to enhance its product offerings. In 2024, R&D expenses accounted for around 25-30% of revenue.
• Net Income/Loss: While Impinj has experienced periods of net losses due to investments in growth, the company is focused on achieving sustained profitability through revenue scaling and operational efficiencies.
• Cash Flow: Monitoring cash flow from operations is vital for Impinj to fund its growth initiatives and manage its working capital effectively.

To gain more insights into the ownership and investor profile of Impinj, explore: Exploring Impinj, Inc. (PI) Investor Profile: Who’s Buying and Why?

Impinj, Inc. (PI) Market Position & Future Outlook

Impinj is strategically positioned in the expanding market of Radio Frequency Identification (RFID) solutions, with a focus on item connectivity. The company's future outlook is closely tied to the growth of the Internet of Things (IoT) and the increasing demand for efficient inventory management and asset tracking solutions across various industries.

Competitive Landscape

The competitive landscape for Impinj involves several key players, each vying for market share in the RFID and broader IoT space.

Opportunities & Challenges

Impinj faces a dynamic set of opportunities and risks that will shape its trajectory in the coming years.

Industry Position

Impinj holds a strong position in the RFID market, particularly known for its advanced endpoint ICs and comprehensive ItemSense™ platform. Key aspects of its industry standing include:

• Technology Leadership: Impinj is recognized for its innovative RFID technology and solutions, particularly in the UHF RFID segment.
• Strategic Partnerships: The company collaborates with various partners across the ecosystem to deliver complete solutions to end customers.
• Market Presence: Impinj has a global presence, serving customers in diverse industries such as retail, supply chain and logistics, and healthcare.

To gain a deeper understanding of Impinj's strategic direction, explore Mission Statement, Vision, & Core Values of Impinj, Inc. (PI).