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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and IMPINJ INC (PI). Click either name above to swap in a different company.
IMPINJ INC is the larger business by last-quarter revenue ($74.3M vs $64.6M, roughly 1.1× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs -0.0%). IMPINJ INC produced more free cash flow last quarter ($2.2M vs $-2.0M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs -14.9%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Impinj, Inc. is an American manufacturer of radio-frequency identification (RFID) devices and software. The company was founded in 2000 and is headquartered in Seattle, Washington. The company was started based on the research done at the California Institute of Technology by Carver Mead and Chris Diorio. Impinj currently produces EPC Class 1, Gen 2 passive UHF RFID chips, RFID readers, RFID reader chips, and RFID antennas, and software applications for encoding chips, and gathering business ...
ESTA vs PI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $74.3M |
| Net Profit | — | $8.3M |
| Gross Margin | 70.5% | 49.1% |
| Operating Margin | -6.1% | 30.5% |
| Net Margin | — | 11.2% |
| Revenue YoY | 45.2% | -0.0% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.07 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $74.3M | ||
| Q4 25 | $64.6M | $92.8M | ||
| Q3 25 | $53.8M | $96.1M | ||
| Q2 25 | $51.3M | $97.9M | ||
| Q1 25 | $41.4M | $74.3M | ||
| Q4 24 | $44.5M | $91.6M | ||
| Q3 24 | $40.2M | $95.2M | ||
| Q2 24 | $44.1M | $102.5M |
| Q1 26 | — | $8.3M | ||
| Q4 25 | — | $-1.1M | ||
| Q3 25 | $-11.1M | $-12.8M | ||
| Q2 25 | $-16.6M | $11.6M | ||
| Q1 25 | $-20.7M | $-8.5M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $-16.7M | $221.0K | ||
| Q2 24 | $-17.2M | $10.0M |
| Q1 26 | — | 49.1% | ||
| Q4 25 | 70.5% | 51.8% | ||
| Q3 25 | 70.1% | 50.3% | ||
| Q2 25 | 68.8% | 57.8% | ||
| Q1 25 | 67.2% | 49.4% | ||
| Q4 24 | 68.5% | 50.5% | ||
| Q3 24 | 63.9% | 50.0% | ||
| Q2 24 | 65.6% | 56.1% |
| Q1 26 | — | 30.5% | ||
| Q4 25 | -6.1% | -2.9% | ||
| Q3 25 | -7.5% | 0.7% | ||
| Q2 25 | -27.5% | 11.1% | ||
| Q1 25 | -41.0% | -12.9% | ||
| Q4 24 | -41.9% | -3.9% | ||
| Q3 24 | -32.7% | -0.8% | ||
| Q2 24 | -21.2% | 8.8% |
| Q1 26 | — | 11.2% | ||
| Q4 25 | — | -1.2% | ||
| Q3 25 | -20.7% | -13.3% | ||
| Q2 25 | -32.3% | 11.8% | ||
| Q1 25 | -50.1% | -11.4% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | -41.5% | 0.2% | ||
| Q2 24 | -38.9% | 9.7% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $-0.07 | $-0.02 | ||
| Q3 25 | $-0.38 | $-0.44 | ||
| Q2 25 | $-0.57 | $0.39 | ||
| Q1 25 | $-0.70 | $-0.30 | ||
| Q4 24 | $-1.21 | $-0.06 | ||
| Q3 24 | $-0.59 | $0.01 | ||
| Q2 24 | $-0.62 | $0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $131.8M |
| Total DebtLower is stronger | — | $241.5M |
| Stockholders' EquityBook value | $23.5M | — |
| Total Assets | $357.2M | $502.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $131.8M | ||
| Q4 25 | $75.6M | $175.3M | ||
| Q3 25 | $70.6M | $190.1M | ||
| Q2 25 | $54.6M | $193.2M | ||
| Q1 25 | $69.2M | $147.9M | ||
| Q4 24 | $90.3M | $164.7M | ||
| Q3 24 | — | $170.3M | ||
| Q2 24 | — | $220.2M |
| Q1 26 | — | $241.5M | ||
| Q4 25 | — | $280.9M | ||
| Q3 25 | — | $280.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | $283.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $23.5M | $209.2M | ||
| Q3 25 | $16.4M | $195.0M | ||
| Q2 25 | $22.8M | $187.7M | ||
| Q1 25 | $38.5M | $160.6M | ||
| Q4 24 | $53.1M | $149.9M | ||
| Q3 24 | $32.7M | $136.1M | ||
| Q2 24 | $45.0M | $117.0M |
| Q1 26 | — | $502.5M | ||
| Q4 25 | $357.2M | $545.2M | ||
| Q3 25 | $338.9M | $516.5M | ||
| Q2 25 | $329.7M | $508.8M | ||
| Q1 25 | $333.4M | $479.8M | ||
| Q4 24 | $346.8M | $489.1M | ||
| Q3 24 | $282.7M | $476.4M | ||
| Q2 24 | $285.1M | $446.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 1.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-162.0K | — |
| Free Cash FlowOCF − Capex | $-2.0M | $2.2M |
| FCF MarginFCF / Revenue | -3.1% | 3.0% |
| Capex IntensityCapex / Revenue | 2.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $61.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-162.0K | $15.1M | ||
| Q3 25 | $-11.3M | $20.9M | ||
| Q2 25 | $-18.8M | $33.9M | ||
| Q1 25 | $-20.7M | $-11.1M | ||
| Q4 24 | $-20.7M | $12.6M | ||
| Q3 24 | $-12.5M | $10.1M | ||
| Q2 24 | $-14.2M | $45.5M |
| Q1 26 | — | $2.2M | ||
| Q4 25 | $-2.0M | $13.6M | ||
| Q3 25 | $-13.1M | $18.0M | ||
| Q2 25 | $-20.4M | $27.3M | ||
| Q1 25 | $-21.5M | $-13.0M | ||
| Q4 24 | $-21.3M | $8.5M | ||
| Q3 24 | $-13.9M | $4.7M | ||
| Q2 24 | $-15.0M | $44.1M |
| Q1 26 | — | 3.0% | ||
| Q4 25 | -3.1% | 14.7% | ||
| Q3 25 | -24.4% | 18.7% | ||
| Q2 25 | -39.7% | 27.9% | ||
| Q1 25 | -51.9% | -17.5% | ||
| Q4 24 | -47.8% | 9.3% | ||
| Q3 24 | -34.6% | 4.9% | ||
| Q2 24 | -33.9% | 43.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 1.6% | ||
| Q3 25 | 3.4% | 3.1% | ||
| Q2 25 | 3.2% | 6.7% | ||
| Q1 25 | 1.8% | 2.5% | ||
| Q4 24 | 1.2% | 4.5% | ||
| Q3 24 | 3.7% | 5.7% | ||
| Q2 24 | 1.8% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 45.56× | ||
| Q2 24 | — | 4.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
