$PI
IMPINJ INC

2023 Q2 Form 10-Q Financial Statement

#000095017023014853 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $85.99M $85.90M $53.14M
YoY Change 43.8% 61.63% 17.45%
Cost Of Revenue $42.17M $42.37M $24.37M
YoY Change 49.05% 73.88% 4.72%
Gross Profit $43.81M $43.53M $28.78M
YoY Change 39.08% 51.26% 30.93%
Gross Profit Margin 50.95% 50.68% 54.15%
Selling, General & Admin $26.63M $25.54M $20.11M
YoY Change 23.25% 27.02% 27.25%
% of Gross Profit 60.79% 58.67% 69.86%
Research & Development $23.40M $22.44M $17.99M
YoY Change 27.4% 24.72% 30.45%
% of Gross Profit 53.41% 51.54% 62.51%
Depreciation & Amortization $4.273M $1.793M $1.508M
YoY Change 191.67% 18.9% 45.0%
% of Gross Profit 9.75% 4.12% 5.24%
Operating Expenses $50.04M $47.97M $38.09M
YoY Change 25.16% 25.93% 23.47%
Operating Profit -$6.223M -$4.442M -$9.315M
YoY Change -26.58% -52.31% 4.99%
Interest Expense -$1.211M $1.209M -$1.261M
YoY Change -196.88% -195.88% 137.92%
% of Operating Profit
Other Income/Expense, Net $1.165M $1.365M $164.0K
YoY Change 171.56% 732.32% 720.0%
Pretax Income -$8.415M -$4.286M -$10.41M
YoY Change -27.01% -58.84% 11.12%
Income Tax -$349.0K $72.00K $49.00K
% Of Pretax Income
Net Earnings -$8.066M -$4.358M -$10.46M
YoY Change -30.0% -58.34% 11.1%
Net Earnings / Revenue -9.38% -5.07% -19.68%
Basic Earnings Per Share -$0.30 -$0.17 -$0.42
Diluted Earnings Per Share -$0.30 -$0.17 -$418.8K
COMMON SHARES
Basic Shares Outstanding 26.65M 26.16M 24.98M
Diluted Shares Outstanding 26.71M 26.29M 24.98M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.9M $154.5M $165.3M
YoY Change -33.31% -6.49% 38.53%
Cash & Equivalents $45.24M $37.48M $63.54M
Short-Term Investments $63.66M $117.1M $101.7M
Other Short-Term Assets $3.455M $3.835M $7.195M
YoY Change -4.11% -46.7% 156.96%
Inventory $112.3M $85.81M $31.56M
Prepaid Expenses
Receivables $58.95M $60.97M $38.53M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $283.6M $305.2M $242.6M
YoY Change 18.63% 25.81% 39.64%
LONG-TERM ASSETS
Property, Plant & Equipment $56.08M $41.80M $40.00M
YoY Change 95.23% 4.51% 15.93%
Goodwill $19.52M $3.881M
YoY Change
Intangibles $16.59M
YoY Change
Long-Term Investments $5.995M $10.18M $28.14M
YoY Change -70.67% -63.84%
Other Assets $1.744M $1.844M $2.365M
YoY Change -22.14% -22.03% 2.83%
Total Long-Term Assets $99.92M $67.50M $74.39M
YoY Change 52.95% -9.26% 82.32%
TOTAL ASSETS
Total Short-Term Assets $283.6M $305.2M $242.6M
Total Long-Term Assets $99.92M $67.50M $74.39M
Total Assets $383.5M $372.7M $316.9M
YoY Change 26.0% 17.58% 47.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.63M $36.71M $9.103M
YoY Change 173.56% 303.31% 3.44%
Accrued Expenses $20.73M $17.39M $12.44M
YoY Change 66.05% 39.84% 3.63%
Deferred Revenue $2.523M $502.0K
YoY Change -4.14%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.643M
YoY Change -88.52%
Total Short-Term Liabilities $50.88M $54.60M $32.64M
YoY Change 100.84% 67.28% -70.91%
LONG-TERM LIABILITIES
Long-Term Debt $281.0M $280.6M $279.1M
YoY Change 0.57% 0.57%
Other Long-Term Liabilities $14.83M $134.0K $11.54M
YoY Change 13021.24% -98.84% -27.45%
Total Long-Term Liabilities $295.9M $280.8M $290.6M
YoY Change 5.83% -3.38% 1727.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.88M $54.60M $32.64M
Total Long-Term Liabilities $295.9M $280.8M $290.6M
Total Liabilities $346.8M $346.0M $323.2M
YoY Change 9.85% 7.05% 152.29%
SHAREHOLDERS EQUITY
Retained Earnings -$399.2M -$391.1M
YoY Change 3.83%
Common Stock $436.3M $418.4M
YoY Change 16.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.80M $26.62M -$6.289M
YoY Change
Total Liabilities & Shareholders Equity $383.5M $372.7M $316.9M
YoY Change 26.0% 17.58% 47.76%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.066M -$4.358M -$10.46M
YoY Change -30.0% -58.34% 11.1%
Depreciation, Depletion And Amortization $4.273M $1.793M $1.508M
YoY Change 191.67% 18.9% 45.0%
Cash From Operating Activities -$22.54M -$26.56M -$14.84M
YoY Change -413.24% 79.02% -258.35%
INVESTING ACTIVITIES
Capital Expenditures $5.866M $7.582M -$3.050M
YoY Change -970.33% -348.59% -169.35%
Acquisitions
YoY Change
Other Investing Activities $34.93M $47.51M -$47.09M
YoY Change -260.18% -200.9% -471.63%
Cash From Investing Activities $29.06M $39.93M -$50.14M
YoY Change -229.29% -179.64% -706.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.233M 4.520M 4.611M
YoY Change -107.86% -1.97% -45.89%
NET CHANGE
Cash From Operating Activities -22.54M -26.56M -14.84M
Cash From Investing Activities 29.06M 39.93M -50.14M
Cash From Financing Activities 1.233M 4.520M 4.611M
Net Change In Cash 7.754M 17.89M -60.36M
YoY Change -125.04% -129.63% -330.73%
FREE CASH FLOW
Cash From Operating Activities -$22.54M -$26.56M -$14.84M
Capital Expenditures $5.866M $7.582M -$3.050M
Free Cash Flow -$28.41M -$34.14M -$11.79M
YoY Change -460.95% 189.68% -337.1%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
91-2041398
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
400 Fairview Avenue North
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1200
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Seattle
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
WA
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
98109
CY2023Q1 dei City Area Code
CityAreaCode
206
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
517-5300
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, par value $0.001 per share
CY2023Q1 dei Trading Symbol
TradingSymbol
PI
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001114995
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-37824
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
IMPINJ, INC.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26650912
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37483000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19597000
CY2023Q1 us-gaap Short Term Investments
ShortTermInvestments
117061000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
154148000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
60966000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
49996000
CY2023Q1 us-gaap Inventory Net
InventoryNet
85809000
CY2022Q4 us-gaap Inventory Net
InventoryNet
46397000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3835000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5032000
CY2023Q1 us-gaap Assets Current
AssetsCurrent
305154000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
275170000
CY2023Q1 us-gaap Long Term Investments
LongTermInvestments
10177000
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
19200000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41800000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39027000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9795000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10490000
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1844000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1969000
CY2023Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
3881000
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
3881000
CY2023Q1 us-gaap Assets
Assets
372651000
CY2022Q4 us-gaap Assets
Assets
349737000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
36713000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
25024000
CY2023Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7042000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
9048000
CY2023Q1 pi Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
7381000
CY2022Q4 pi Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
2925000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2966000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3122000
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
502000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2250000
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
54604000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
42369000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
280644000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
280244000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10331000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11066000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
134000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
118000
CY2023Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
317000
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
349000
CY2023Q1 us-gaap Liabilities
Liabilities
346030000
CY2022Q4 us-gaap Liabilities
Liabilities
334146000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
495000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
495000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26581000
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26581000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26098000
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26098000
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
27000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
26000
CY2023Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
418342000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
403599000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-605000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1249000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-391143000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-386785000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
26621000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
15591000
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
372651000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
349737000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
85897000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53144000
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
42367000
CY2022Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
24365000
CY2023Q1 us-gaap Gross Profit
GrossProfit
43530000
CY2022Q1 us-gaap Gross Profit
GrossProfit
28779000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22435000
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17989000
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9973000
CY2022Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9299000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15564000
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10806000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
47972000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
38094000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4442000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9315000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1365000
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
164000
CY2023Q1 us-gaap Interest Expense
InterestExpense
1209000
CY2022Q1 us-gaap Interest Expense
InterestExpense
1261000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4286000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-10412000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
72000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
49000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4358000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.42
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.42
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26285000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26285000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24980000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24980000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4358000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
644000
CY2022Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-677000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
644000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-677000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3714000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11138000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4358000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2023Q1 us-gaap Depreciation
Depreciation
1793000
CY2022Q1 us-gaap Depreciation
Depreciation
1508000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
10224000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11314000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
766000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-301000
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
400000
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
403000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10970000
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3084000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
39412000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9603000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1389000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2142000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14650000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2768000
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2006000
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1775000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4472000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1242000
CY2023Q1 pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-695000
CY2022Q1 pi Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-804000
CY2023Q1 pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-891000
CY2022Q1 pi Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
-1008000
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1780000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
433000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26560000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14836000
CY2022Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
67085000
CY2023Q1 pi Proceeds From Sale Of Investments
ProceedsFromSaleOfInvestments
13372000
CY2023Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
34136000
CY2022Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
20000000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7582000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3050000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
39926000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50135000
CY2023Q1 pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
4520000
CY2022Q1 pi Proceeds From Exercise Of Stock Options And Employee Stock Purchase Plan
ProceedsFromExerciseOfStockOptionsAndEmployeeStockPurchasePlan
4611000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4520000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4611000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17886000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-60360000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19597000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
123903000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
37483000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63543000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3284000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
508000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
15591000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4520000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10224000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4358000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
644000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
26621000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-11076000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4611000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11314000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-677000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-6289000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26285000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Preparing financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and related disclosures as of the date of the financial statements, as well as the reported revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, sales incentives, percentage completion of development contracts, inventory excess and obsolescence, income taxes and fair value of stock awards. To the extent there are material differences between our estimates, judgments, or assumptions and actual results, our financial statements will be affected.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
62500000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
125600000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
400000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1200000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
29900000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
13900000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
300000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
100000
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
34990000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
14678000
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
21182000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
14525000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
29637000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17194000
CY2023Q1 us-gaap Inventory Net
InventoryNet
85809000
CY2022Q4 us-gaap Inventory Net
InventoryNet
46397000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10224000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11314000
CY2023Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
56000000.0
CY2020Q1 pi Number Of Patents Currently At Issue
NumberOfPatentsCurrentlyAtIssue
6
CY2021Q3 pi Number Of Infringement Patents
NumberOfInfringementPatents
1
CY2023Q1 pi Number Of Business Days In Conversion Condition
NumberOfBusinessDaysInConversionCondition
5
CY2023Q1 us-gaap Debt Instrument Convertible Threshold Trading Days
DebtInstrumentConvertibleThresholdTradingDays
5
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4358000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-10461000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26285000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24980000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24980000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.42
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.42
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
85897000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
53144000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1800000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
139000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2599000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
794000
CY2023Q1 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
29000
CY2022Q1 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
572000
CY2023Q1 pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
1809000
CY2022Q1 pi Contract With Customer Liability Revenue Recognition Of Deferred Revenue
ContractWithCustomerLiabilityRevenueRecognitionOfDeferredRevenue
139000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
819000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1227000

Files In Submission

Name View Source Status
pi-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0000950170-23-014853-index-headers.html Edgar Link pending
0000950170-23-014853-index.html Edgar Link pending
0000950170-23-014853.txt Edgar Link pending
0000950170-23-014853-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pi-20230331.htm Edgar Link pending
pi-20230331.xsd Edgar Link pending
pi-ex31_1.htm Edgar Link pending
pi-ex31_2.htm Edgar Link pending
pi-ex32_1.htm Edgar Link pending
pi-ex32_2.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
pi-20230331_cal.xml Edgar Link unprocessable
pi-20230331_lab.xml Edgar Link unprocessable
pi-20230331_pre.xml Edgar Link unprocessable
pi-20230331_htm.xml Edgar Link completed
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending