Mission Statement, Vision, & Core Values of Impinj, Inc. (PI)

Ever wondered what drives a company that's connecting trillions of everyday items to the Internet of Things? What are the guiding principles behind Impinj's mission to create a boundless Internet of Things? With a 2024 full year revenue of $366.1 million, and a GAAP net income of $40.8 million, how does Impinj stay grounded in its core values while pioneering RAIN RFID technology?

Dive in to explore the mission, vision, and core values that shape Impinj's culture and strategic direction. Do these principles resonate with their goals of improving efficiency, reducing waste, and enhancing people's lives?

Impinj, Inc. (PI) An Overview of

Impinj, Inc. was founded in 2000 and is a leading provider of Radio Frequency Identification (RFID) solutions. Impinj's platform enables wireless connectivity to billions of everyday items such as apparel, pallets, and automobile parts, providing businesses with real-time data about these items. Impinj's platform is comprised of:

• Endpoints: RFID tags attached to items.
• Readers: Devices that read data from the tags.
• Software: Manages and interprets the data.

These components work together to deliver item intelligence, which helps businesses improve their operations, reduce waste, and enhance customer experiences. As of April 2025, Impinj continues to expand its market presence, serving a diverse range of industries including retail, supply chain and logistics, and healthcare.

In the fiscal year 2024, Impinj reported record revenue, driven largely by growth in main product sales. Specifically, the company's revenue reached $333.4 million, reflecting a 14.8% increase compared to the $290.5 million reported in the previous year. This growth was fueled by strong demand across various markets and the successful introduction of new products and solutions. The gross margin for 2024 was 47.7%, compared to 49.8% in 2023. Despite increased operating expenses, Impinj strategically managed its resources to invest in future growth opportunities while maintaining financial discipline.

Impinj has established itself as a leader in the RFID industry through its innovative technology and comprehensive solutions. To delve deeper into the factors behind Impinj's success and its appeal to investors, explore this insightful analysis: Exploring Impinj, Inc. (PI) Investor Profile: Who’s Buying and Why?

Impinj, Inc. (PI) Mission Statement

The mission statement of Impinj, Inc. is to 'connect every thing in the world to the Internet.' This succinct statement encapsulates the company's overarching goal and commitment to enabling seamless connectivity for a vast array of items, leveraging its expertise in radio-frequency identification (RFID) technology.

Impinj's mission statement is significant because it directs the company’s long-term objectives and strategic initiatives. By focusing on connecting 'every thing,' Impinj signals its ambition to create a ubiquitous network where physical objects can communicate data, enhancing efficiency, visibility, and intelligence across various industries. This mission drives Impinj to innovate and expand its technological solutions to meet the evolving demands of the Internet of Things (IoT) landscape. You can find more about Impinj’s history and mission at: Impinj, Inc. (PI): History, Ownership, Mission, How It Works & Makes Money

The core components of Impinj's mission statement can be broken down into three key elements:

• Connecting: This refers to the fundamental act of establishing a link between physical objects and the digital world. For Impinj, this involves utilizing its RFID technology to create a bridge that allows items to transmit data wirelessly.
• Every Thing: This all-encompassing term indicates the breadth of Impinj's vision. It is not limited to specific types of objects or industries but rather encompasses all tangible items that could benefit from connectivity. This includes retail products, healthcare supplies, automotive parts, and more.
• To the Internet: This specifies the destination of the data transmitted by connected items. By connecting objects to the Internet, Impinj enables the seamless flow of information to a global network, allowing for real-time monitoring, analysis, and decision-making.

Connecting 'every thing' to the internet involves several layers of technology and infrastructure. Impinj provides a comprehensive platform that includes:

• Endpoint ICs: These are tiny microchips attached to items, enabling them to be wirelessly identified and tracked.
• Reader ICs: These are used in RFID readers to communicate with the endpoint ICs and transmit data to the network.
• Readers: These devices capture the data from the endpoint ICs and transmit it to the cloud or other systems.
• Software: Impinj provides software solutions to manage and analyze the data collected, providing valuable insights to businesses.

Impinj's commitment to delivering high-quality products and services is supported by its continuous investment in research and development. For example, in the fiscal year 2024, Impinj allocated a significant portion of its revenue to R&D, ensuring that it remains at the forefront of technological innovation. The company's focus on innovation is evident in its portfolio of patents and its ongoing efforts to improve the performance, reliability, and security of its RFID solutions.

Furthermore, Impinj emphasizes collaboration and partnerships to expand its reach and impact. By working with a network of partners, including system integrators, software developers, and industry experts, Impinj can deliver tailored solutions that meet the specific needs of its customers. This collaborative approach enables Impinj to address a wide range of applications and industries, further advancing its mission of connecting 'every thing' to the Internet.

Impinj, Inc. (PI) Vision Statement

To understand Impinj's strategic direction, it's important to examine its mission, vision, and core values. These statements provide a framework for the company's goals and how it intends to achieve them. Impinj's mission focuses on connecting everyday items to the internet, creating a vast network of information. The vision builds upon this, describing a world where businesses and people benefit from this connectivity. The core values outline the principles that guide the company's actions and decisions. For a broader view, you might find this resource helpful: Impinj, Inc. (PI): History, Ownership, Mission, How It Works & Makes Money

Impinj's Mission Statement: Connecting Everyday Items

Impinj's mission is to connect everyday items to the internet, enabling businesses and people to analyze and use data about these items. This mission reflects a belief that comprehensive data about the physical world can drive efficiency, improve operations, and create new experiences. This is achieved through the Impinj platform, which includes RAIN RFID endpoint ICs, readers, gateways, and software.

• RAIN RFID (Radio Frequency Identification) is a technology that allows for wireless communication between a reader and a tagged item.
• Impinj's platform enables businesses to identify, locate, and authenticate items, providing real-time data and insights.

This connectivity facilitates:

• Improved inventory management: Businesses can track inventory levels in real-time, reducing stockouts and overstocking.
• Enhanced supply chain visibility: Companies can monitor the movement of goods throughout the supply chain, identifying bottlenecks and improving efficiency.
• Better customer experiences: Retailers can use item data to personalize shopping experiences and offer targeted promotions.

Impinj's Vision: A Boundless Internet of Things

Impinj envisions a boundless Internet of Things (IoT) that provides:

• Real-time data: Access to immediate information about the location, condition, and status of items.
• Actionable insights: Analytics and data processing to turn raw data into useful intelligence.

The company's vision statement reflects a world where:

• Businesses can optimize operations, reduce waste, and improve profitability.
• Consumers can enjoy personalized experiences and greater convenience.

For example, in the retail sector, this vision translates to:

• Smart shelves that automatically reorder products when they run low.
• Interactive displays that provide customers with product information and recommendations.
• Streamlined checkout processes that reduce wait times.

Core Values: Guiding Principles

Impinj's core values are the fundamental beliefs that guide its actions. These values shape the company's culture and influence how it interacts with employees, customers, and partners.

• Innovation: Impinj emphasizes innovation in its products, solutions, and business practices.
• Collaboration: The company fosters a collaborative environment where employees work together to achieve common goals.
• Customer Focus: Impinj is dedicated to understanding and meeting the needs of its customers.
• Integrity: The company operates with honesty, transparency, and ethical conduct.
• Excellence: Impinj strives for excellence in all aspects of its business, from product development to customer service.

These core values drive Impinj's:

• Commitment to developing cutting-edge technology.
• Dedication to providing exceptional customer support.
• Emphasis on building strong relationships with partners.

Impinj, Inc. (PI) Core Values of

While specific, formally published core values for Impinj, Inc. are not readily available, insights into the company's operational focus and priorities can be gathered from their public statements, investor relations materials, and overall business activities. These inferred values reflect what the company emphasizes in its actions and communications.

Based on available information, key inferred core values include:

• Innovation: Impinj consistently emphasizes technological advancement and the development of cutting-edge solutions in RAIN RFID technology.
• Customer Focus: A commitment to meeting customer needs and providing value through their products and services is evident.
• Integrity: Maintaining high ethical standards and transparency in their operations and relationships is crucial.
• Collaboration: Working effectively with partners and within teams to achieve common goals is highlighted.
• Excellence: A dedication to high-quality products, services, and overall performance is apparent.

These inferred values drive Impinj's approach to business and innovation. You can learn more about the company's background and mission at: Impinj, Inc. (PI): History, Ownership, Mission, How It Works & Makes Money

Innovation

Innovation is a driving force. Impinj's commitment to innovation is evident in its continuous development of advanced RAIN RFID solutions. For example, Impinj's focus on innovation is reflected in its investment in research and development, which totaled $44.8 million in 2022 and $53.4 million in 2023. This investment has led to the creation of groundbreaking products like the Impinj platform, which enables businesses to connect everyday items to the internet, driving efficiency and insights across various industries.

Customer Focus

Customer focus is demonstrated through Impinj's dedication to providing solutions that address specific customer needs. This is seen in their work with retailers to improve inventory management, with healthcare providers to track medical equipment, and with logistics companies to optimize supply chains. Impinj's endpoints, readers, and software enable businesses to improve inventory accuracy, reduce waste, and enhance the customer experience. For example, in 2024, Impinj reported that its solutions helped retailers reduce out-of-stock items by 15% and improve inventory accuracy to over 98%.

Integrity

Integrity is showcased in Impinj's commitment to ethical business practices and transparency. This is reflected in their corporate governance policies, which emphasize accountability, fairness, and respect for all stakeholders. Impinj's dedication to integrity extends to its supply chain, where it works with partners who share its commitment to ethical labor practices and environmental sustainability. The company's annual report highlights its efforts to ensure compliance with all applicable laws and regulations, as well as its commitment to maintaining a culture of integrity throughout the organization.

Collaboration

Collaboration is emphasized through Impinj's partnerships with other technology companies and industry organizations. These collaborations enable Impinj to expand its reach and offer more comprehensive solutions to its customers. For example, Impinj has partnered with companies like Avery Dennison and NXP Semiconductors to develop innovative RAIN RFID solutions for various industries. These partnerships allow Impinj to leverage the expertise and resources of its partners to accelerate innovation and deliver greater value to its customers. In 2024, Impinj announced a new partnership with a leading cloud computing provider to integrate its RAIN RFID platform with the provider's cloud services, enabling businesses to access real-time data and insights from their connected items.

Excellence

Excellence is reflected in Impinj's commitment to delivering high-quality products and services that meet the highest standards of performance and reliability. This is seen in their rigorous testing and quality control processes, as well as their ongoing investment in research and development. Impinj's products are designed to withstand harsh environments and provide accurate, reliable data for years to come. The company's dedication to excellence has earned it numerous industry awards and recognition, including being named a 'Cool Vendor' by Gartner in 2023.