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IMPINJ INC（PI）与System1, Inc.（SST）财务数据对比。点击上方公司名可切换其他公司
IMPINJ INC的季度营收约是System1, Inc.的1.4倍（$74.3M vs $51.9M），IMPINJ INC净利率更高（11.2% vs -26.0%，领先37.2%），IMPINJ INC同比增速更快（-0.0% vs -31.3%），过去两年IMPINJ INC的营收复合增速更高（-14.9% vs -21.8%）
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
System1是一家美国互联网广告企业，成立于2013年，前身为OpenMail，总部位于加利福尼亚州玛丽娜德尔雷。该公司主打获客响应营销平台业务，将隐私保护作为核心经营重点之一，但也曾因对Startpage.com等主打隐私的平台的影响受到批评。
PI vs SST — 直观对比
营收规模更大
PI
是对方的1.4倍
$51.9M
营收增速更快
PI
高出31.3%
-31.3%
净利率更高
PI
高出37.2%
-26.0%
两年增速更快
PI
近两年复合增速
-21.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $74.3M | $51.9M |
| 净利润 | $8.3M | $-13.5M |
| 毛利率 | 49.1% | 41.0% |
| 营业利润率 | 30.5% | -33.6% |
| 净利率 | 11.2% | -26.0% |
| 营收同比 | -0.0% | -31.3% |
| 净利润同比 | — | 4.8% |
| 每股收益（稀释后） | $0.14 | $-3.58 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PISST
| Q1 26 | $74.3M | — | ||
| Q4 25 | $92.8M | $51.9M | ||
| Q3 25 | $96.1M | $61.6M | ||
| Q2 25 | $97.9M | $78.1M | ||
| Q1 25 | $74.3M | $74.5M | ||
| Q4 24 | $91.6M | $75.6M | ||
| Q3 24 | $95.2M | $88.8M | ||
| Q2 24 | $102.5M | $94.6M |
净利润PISST
| Q1 26 | $8.3M | — | ||
| Q4 25 | $-1.1M | $-13.5M | ||
| Q3 25 | $-12.8M | $-18.5M | ||
| Q2 25 | $11.6M | $-17.5M | ||
| Q1 25 | $-8.5M | $-15.9M | ||
| Q4 24 | $-2.7M | $-14.2M | ||
| Q3 24 | $221.0K | $-23.6M | ||
| Q2 24 | $10.0M | $-26.4M |
毛利率PISST
| Q1 26 | 49.1% | — | ||
| Q4 25 | 51.8% | 41.0% | ||
| Q3 25 | 50.3% | 36.9% | ||
| Q2 25 | 57.8% | 35.7% | ||
| Q1 25 | 49.4% | 38.2% | ||
| Q4 24 | 50.5% | 42.1% | ||
| Q3 24 | 50.0% | 28.0% | ||
| Q2 24 | 56.1% | 27.6% |
营业利润率PISST
| Q1 26 | 30.5% | — | ||
| Q4 25 | -2.9% | -33.6% | ||
| Q3 25 | 0.7% | -25.3% | ||
| Q2 25 | 11.1% | -20.4% | ||
| Q1 25 | -12.9% | -17.6% | ||
| Q4 24 | -3.9% | -15.7% | ||
| Q3 24 | -0.8% | -24.6% | ||
| Q2 24 | 8.8% | -30.8% |
净利率PISST
| Q1 26 | 11.2% | — | ||
| Q4 25 | -1.2% | -26.0% | ||
| Q3 25 | -13.3% | -30.1% | ||
| Q2 25 | 11.8% | -22.4% | ||
| Q1 25 | -11.4% | -21.3% | ||
| Q4 24 | -2.9% | -18.7% | ||
| Q3 24 | 0.2% | -26.6% | ||
| Q2 24 | 9.7% | -27.9% |
每股收益（稀释后）PISST
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-0.02 | $-3.58 | ||
| Q3 25 | $-0.44 | $-2.30 | ||
| Q2 25 | $0.39 | $-2.23 | ||
| Q1 25 | $-0.30 | $-0.21 | ||
| Q4 24 | $-0.06 | $-3.41 | ||
| Q3 24 | $0.01 | $-3.37 | ||
| Q2 24 | $0.34 | $-3.80 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $131.8M | $86.9M |
| 总债务越低越好 | $241.5M | $305.1M |
| 股东权益账面价值 | — | $30.5M |
| 总资产 | $502.5M | $405.0M |
| 负债/权益比越低杠杆越低 | — | 10.01× |
8季度趋势，按日历期对齐
现金及短期投资PISST
| Q1 26 | $131.8M | — | ||
| Q4 25 | $175.3M | $86.9M | ||
| Q3 25 | $190.1M | $54.6M | ||
| Q2 25 | $193.2M | $63.6M | ||
| Q1 25 | $147.9M | $43.9M | ||
| Q4 24 | $164.7M | $63.6M | ||
| Q3 24 | $170.3M | $69.1M | ||
| Q2 24 | $220.2M | $75.7M |
总债务PISST
| Q1 26 | $241.5M | — | ||
| Q4 25 | $280.9M | $305.1M | ||
| Q3 25 | $280.4M | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | $283.5M | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M |
股东权益PISST
| Q1 26 | — | — | ||
| Q4 25 | $209.2M | $30.5M | ||
| Q3 25 | $195.0M | $42.7M | ||
| Q2 25 | $187.7M | $58.2M | ||
| Q1 25 | $160.6M | $67.2M | ||
| Q4 24 | $149.9M | $80.3M | ||
| Q3 24 | $136.1M | $90.3M | ||
| Q2 24 | $117.0M | $109.4M |
总资产PISST
| Q1 26 | $502.5M | — | ||
| Q4 25 | $545.2M | $405.0M | ||
| Q3 25 | $516.5M | $385.2M | ||
| Q2 25 | $508.8M | $429.2M | ||
| Q1 25 | $479.8M | $419.2M | ||
| Q4 24 | $489.1M | $459.1M | ||
| Q3 24 | $476.4M | $479.3M | ||
| Q2 24 | $446.1M | $511.3M |
负债/权益比PISST
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 10.01× | ||
| Q3 25 | 1.44× | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | 1.89× | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-10.6M |
| 自由现金流经营现金流 - 资本支出 | $2.2M | — |
| 自由现金流率自由现金流/营收 | 3.0% | — |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $61.1M | — |
8季度趋势，按日历期对齐
经营现金流PISST
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $-10.6M | ||
| Q3 25 | $20.9M | $-2.1M | ||
| Q2 25 | $33.9M | $24.5M | ||
| Q1 25 | $-11.1M | $-15.9M | ||
| Q4 24 | $12.6M | $772.0K | ||
| Q3 24 | $10.1M | $-5.0K | ||
| Q2 24 | $45.5M | $10.0M |
自由现金流PISST
| Q1 26 | $2.2M | — | ||
| Q4 25 | $13.6M | — | ||
| Q3 25 | $18.0M | — | ||
| Q2 25 | $27.3M | — | ||
| Q1 25 | $-13.0M | $-16.0M | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $4.7M | $-36.0K | ||
| Q2 24 | $44.1M | — |
自由现金流率PISST
| Q1 26 | 3.0% | — | ||
| Q4 25 | 14.7% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | -17.5% | -21.5% | ||
| Q4 24 | 9.3% | — | ||
| Q3 24 | 4.9% | -0.0% | ||
| Q2 24 | 43.0% | — |
资本支出强度PISST
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 0.0% | ||
| Q3 25 | 3.1% | 0.0% | ||
| Q2 25 | 6.7% | 0.0% | ||
| Q1 25 | 2.5% | 0.1% | ||
| Q4 24 | 4.5% | 0.0% | ||
| Q3 24 | 5.7% | 0.0% | ||
| Q2 24 | 1.3% | 0.0% |
现金转化率PISST
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.56× | — | ||
| Q2 24 | 4.56× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
