Impinj Cuts Q1 Revenue Outlook to $71–74M, PT Slashed to $112
Impinj projected Q1 2026 revenue of $71–74 million, down from $92.85 million in Q4 and implying a 2.4% year-over-year decline at midpoint due to inventory cuts and project delays in logistics and retail channels. Evercore ISI downgraded the stock to In Line and slashed its price target to $112 from $273, forecasting 4% revenue contraction for the year.
1. Weak Q1 2026 Revenue Guidance
Impinj forecasted first-quarter revenue between $71 million and $74 million, below its Q4 revenue of $92.85 million and implying a 2.4% year-over-year decline at the midpoint. Management highlighted inventory drawdowns across logistics and retail channels along with expected project delays as primary reasons for the softer outlook.
2. Evercore ISI Downgrade and Revised Forecast
Evercore ISI downgraded Impinj from Outperform to In Line and cut its price target from $273 to $112, citing heightened volatility and slower near-term growth. The firm now models a 4% revenue decline for full-year 2026 versus its previous projection of 26% growth.
3. Stock Reaction and Volatility
Impinj shares plunged 22.1% in morning trading following the guidance miss and downgrade, marking one of the largest intraday moves in its recent history. The stock is down nearly 34% year-to-date and trades over 50% below its 52-week high, reflecting heightened investor concern over near-term profitability and growth prospects.