Demonstrações financeiras detalhadas de Impinj, Inc. (PI): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Impinj, Inc. registou receitas de $361.1M no último exercício, com um CAGR de 5 anos de 21.0%.
Margens dos últimos 12 meses: margem bruta 52.7%, margem operacional -1.8%, margem líquida -7.3%.
Ao preço atual de $177.83, PI apresenta lucros negativos (P/L não significativo) e um ROE de -12.86%. A capitalização de mercado é de $5.4B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $112.3M | $125.3M | $122.6M | $152.8M | $138.9M | $190.3M | $257.8M | $307.5M | $366.1M | $361.1M |
| Custo da Receita | $52.8M | $60.4M | $64.4M | $78.8M | $73.8M | $91.3M | $119.9M | $155.6M | $177.2M | $173.5M |
| Lucro Bruto | $59.5M | $64.9M | $58.3M | $74.0M | $65.1M | $99.0M | $137.9M | $152.0M | $188.9M | $187.6M |
| P&D | $25.2M | $32.2M | $34.2M | $38.9M | $48.6M | $64.1M | $74.1M | $88.6M | $98.8M | $102.6M |
| Despesas Gerais e Administrativas | $34.8M | $49.7M | $55.2M | $56.8M | $58.3M | $70.4M | $83.4M | $98.7M | $90.4M | $85.7M |
| Despesas Operacionais | $59.9M | $82.0M | $93.2M | $95.7M | $112.2M | $136.2M | $157.4M | $195.5M | $195.9M | $188.3M |
| Lucro Operacional | -$488000 | -$17.0M | -$34.9M | -$21.7M | -$47.1M | -$37.2M | -$19.5M | -$43.5M | -$7.1M | -$737000 |
| EBITDA | $2.4M | -$13.1M | -$26.6M | -$16.9M | -$37.2M | -$30.9M | -$13.5M | -$26.6M | $10.3M | $8.5M |
| Despesas com Juros | $1.6M | $908000 | $1.4M | $1.8M | $5.4M | $2.5M | $4.9M | $4.8M | $4.9M | $4.4M |
| Lucro Antes de Impostos | -$1.5M | -$17.4M | -$35.5M | -$22.8M | -$51.8M | -$51.1M | -$24.1M | -$43.7M | $41.0M | -$10.9M |
| Imposto | $168000 | -$97000 | -$233000 | $198000 | $89000 | $153000 | $184000 | -$322000 | $157000 | -$69000 |
| Lucro Líquido | -$1.7M | -$17.3M | -$35.2M | -$23.0M | -$51.9M | -$51.3M | -$24.3M | -$43.4M | $40.8M | -$10.8M |
| LPA | $-0.08 | $-0.84 | $-1.65 | $-1.05 | $-2.28 | $-2.12 | $-0.95 | $-1.62 | $1.46 | $-0.37 |
| LPA Diluído | $-0.08 | $-0.84 | $-1.65 | $-1.05 | $-2.28 | $-2.12 | $-0.95 | $-1.62 | $1.39 | $-0.37 |
| Ações em Circulação (Diluídas) | $20.5M | $20.7M | $21.3M | $21.8M | $22.8M | $24.2M | $25.5M | $26.8M | $29.5M | $29.3M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $96.1M | $92.8M | $74.2M | $108.4M |
| Lucro Bruto | $48.3M | $47.5M | $36.5M | $63.5M |
| Lucro Operacional | $656000 | -$2.7M | -$15.2M | $10.5M |
| EBITDA | -$7.9M | $3.8M | -$21.1M | $16.6M |
| Lucro Líquido | -$12.8M | -$1.1M | -$25.3M | $12.2M |
| LPA | $-0.44 | $-0.04 | $-0.83 | $0.40 |
| LPA Diluído | $-0.44 | $-0.04 | $-0.83 | $0.39 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $33.6M | $19.3M | $17.5M | $66.9M | $23.6M | $123.9M | $19.6M | $94.8M | $46.1M | $48.2M |
| Investimentos de Curto Prazo | $66.9M | $38.8M | $38.5M | $49.6M | $82.5M | $69.4M | $154.1M | $18.4M | $118.7M | $127.1M |
| Contas a Receber | $17.4M | $22.2M | $18.5M | $23.7M | $25.0M | $35.4M | $50.0M | $54.9M | $56.8M | $70.8M |
| Estoque | $27.7M | $47.1M | $44.7M | $34.2M | $36.3M | $22.0M | $46.4M | $97.2M | $99.3M | $85.0M |
| Ativos Circulantes | $148.7M | $129.8M | $121.2M | $176.8M | $171.4M | $255.8M | $275.2M | $269.7M | $326.4M | $339.2M |
| Imobilizado | $14.9M | $18.1M | $19.8M | $33.9M | $30.3M | $39.2M | $49.5M | $54.6M | $57.8M | $71.2M |
| Ágio | $3.9M | $3.9M | $3.9M | $3.9M | $3.9M | $3.9M | $3.9M | $19.7M | $18.7M | $20.7M |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $13.9M | $10.3M | $9.5M |
| Ativos Totais | $167.5M | $152.0M | $145.1M | $215.0M | $207.6M | $315.5M | $349.7M | $359.4M | $489.1M | $545.2M |
| Contas a Pagar | $7.2M | $4.7M | $4.6M | $5.6M | $10.1M | $11.7M | $25.0M | $8.7M | $17.3M | $13.6M |
| Dívida de Curto Prazo | $3.7M | $5.0M | $5.9M | $94000 | 0 | $13.8M | 0 | 0 | $287.1M | $97.5M |
| Passivos Circulantes | $25.4M | $19.9M | $23.0M | $19.5M | $27.6M | $35.5M | $42.4M | $30.9M | $331.2M | $126.5M |
| Dívida de Longo Prazo | $9.7M | $5.5M | $17.6M | $50.9M | $54.6M | $278.7M | $280.2M | $281.9M | $5.7M | $206.7M |
| Passivos Totais | $43.5M | $33.1M | $47.2M | $89.8M | $98.5M | $326.6M | $334.1M | $325.3M | $339.2M | $336.0M |
| Reservas | -$187.2M | -$204.5M | -$239.8M | -$262.7M | -$314.7M | -$362.5M | -$386.8M | -$430.2M | -$389.3M | -$400.2M |
| Patrimônio Líquido | $124.0M | $118.9M | $97.9M | $125.2M | $109.1M | -$11.1M | $15.6M | $34.1M | $149.9M | $209.2M |
| Dívida Total | $15.1M | $11.3M | $24.9M | $73.5M | $73.5M | $308.5M | $294.4M | $294.6M | $298.5M | $326.7M |
| Dívida Líquida | -$85.4M | -$46.8M | -$31.1M | -$43.0M | -$32.6M | $115.2M | $120.7M | $181.4M | $133.8M | $151.4M |
| Capital de Giro | $123.3M | $109.9M | $98.2M | $157.3M | $143.8M | $220.3M | $232.8M | $238.8M | -$4.8M | $212.7M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $51.7M | $48.2M | $32.3M | $38.6M |
| Ativos Totais | $516.5M | $545.2M | $502.5M | $534.7M |
| Passivos Totais | $321.5M | $336.0M | $298.6M | $303.2M |
| Patrimônio Líquido | $195.0M | $209.2M | $203.9M | $231.6M |
| Dívida Total | $287.5M | $326.7M | $265.1M | $266.7M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$1.7M | -$17.3M | -$35.2M | -$23.0M | -$51.9M | -$51.3M | -$24.3M | -$43.4M | $40.8M | -$10.8M |
| Depreciação e Amortização | $2.9M | $4.0M | $4.5M | $4.8M | $4.5M | $4.6M | $6.0M | $13.6M | $13.6M | $15.0M |
| Compensação em Ações | $2.8M | $7.4M | $11.3M | $18.5M | $25.7M | $40.5M | $42.4M | $48.0M | $56.5M | $55.3M |
| Variação Capital de Giro | -$13.2M | -$30.1M | $8.8M | $4.1M | $963000 | $288000 | -$27.2M | -$68.2M | $16.0M | -$14.8M |
| Fluxo de Caixa Operacional | -$9.5M | -$35.9M | -$11.8M | $4.7M | -$16.9M | $6.5M | $640999 | -$49.4M | $128.3M | $58.7M |
| CapEx | -$3.5M | -$6.6M | -$6.4M | -$2.4M | -$3.1M | -$16.2M | -$12.1M | -$18.8M | -$17.1M | -$12.9M |
| Aquisições | 0 | 0 | 0 | 0 | 0 | 0 | $279000 | -$23.4M | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$13.0M | -$42.4M | -$18.1M | $2.3M | -$20.0M | -$9.8M | -$11.4M | -$68.2M | $111.2M | $45.9M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $20.9M | $15.1M | $4.0M | $31.6M |
| CapEx | -$2.9M | -$1.5M | -$1.7M | -$2.4M |
| Fluxo de Caixa Livre | $18.0M | $13.6M | $2.2M | $29.2M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $14.6M | $15.2M | $14.7M | $16.3M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +11.6% | -2.1% | +24.6% | -9.1% | +37.0% | +35.5% | +19.3% | +19.0% | -1.4% |
| Crescimento Lucro Líquido (anual) | | -935.4% | -103.4% | +34.8% | -125.9% | +1.3% | +52.6% | -78.5% | +194.2% | -126.6% |
| Crescimento LPA (anual) | | -889.4% | -96.4% | +36.4% | -117.1% | +7.0% | +55.2% | -70.5% | +190.1% | -125.3% |
| Variação de Ações (anual) | | +0.9% | +3.2% | +2.4% | +4.4% | +5.9% | +5.6% | +4.7% | +10.2% | -0.6% |
| Crescimento FCF (anual) | | -225.8% | +57.2% | +112.6% | -975.4% | +51.1% | -17.1% | -496.5% | +263.0% | -58.7% |
| Margem Bruta | 52.9% | 51.8% | 47.5% | 48.4% | 46.9% | 52.0% | 53.5% | 49.4% | 51.6% | 52.0% |
| Margem Operacional | -0.4% | -13.6% | -28.4% | -14.2% | -33.9% | -19.6% | -7.6% | -14.1% | -1.9% | -0.2% |
| Margem EBITDA | 2.1% | -10.4% | -21.7% | -11.0% | -26.8% | -16.3% | -5.3% | -8.6% | 2.8% | 2.4% |
| Margem Líquida | -1.5% | -13.8% | -28.7% | -15.0% | -37.4% | -26.9% | -9.4% | -14.1% | 11.2% | -3.0% |
| Margem FCF | -11.6% | -33.9% | -14.8% | 1.5% | -14.4% | -5.1% | -4.4% | -22.2% | 30.4% | 12.7% |
| Taxa Efetiva de Imposto | -11.2% | 0.6% | 0.7% | -0.9% | -0.2% | -0.3% | -0.8% | 0.7% | 0.4% | 0.6% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.64 | $-2.05 | $-0.85 | $0.10 | $-0.87 | $-0.40 | $-0.45 | $-2.55 | $3.77 | $1.57 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $19.7M | $20.7M | $21.3M | $21.8M | $22.8M | $24.2M | $25.5M | $26.8M | $28.0M | $29.3M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -12.86% |
| Retorno sobre capital investido | -1.34% |
| Retorno sobre ativos | -5.05% |
| Margem bruta | 52.71% |
| Margem operacional | -1.80% |
| Margem líquida | -7.26% |
Saúde financeira
| Dívida / Patrimônio | 1.15 |
| Liquidez corrente | 3.28 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 9.20 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -416.25 | -26.82 | -8.82 | -24.63 | -18.36 | -41.84 | -114.93 | -55.57 | 99.49 | -470.30 |
| P/VP | 5.62 | 3.92 | 3.17 | 4.51 | 8.76 | -193.61 | 178.84 | 70.57 | 27.09 | 24.35 |
| P/V | 6.20 | 3.72 | 2.53 | 3.70 | 6.88 | 11.27 | 10.82 | 7.83 | 11.09 | 14.11 |
| Margem Bruta | 52.9% | 51.8% | 47.5% | 48.4% | 46.9% | 52.0% | 53.5% | 49.4% | 51.6% | 52.0% |
| Margem Operacional | -0.4% | -13.6% | -28.4% | -14.2% | -33.9% | -19.6% | -7.6% | -14.1% | -1.9% | -0.2% |
| Margem Líquida | -1.5% | -13.8% | -28.7% | -15.0% | -37.4% | -26.9% | -9.4% | -14.1% | 11.2% | -3.0% |