Shares of Impinj (PI), a leading provider in the RAIN RFID and Internet of Things sectors, are soaring 21.88% in pre-market trading on Thursday following the release of its impressive second-quarter 2025 financial results and optimistic third-quarter outlook. The company's performance significantly exceeded analyst expectations, demonstrating resilience in a challenging market environment.

Impinj reported robust quarterly revenue of $97.9 million, surpassing the analyst consensus estimate of $93.8 million by 4.43%. While this represents a 4.49% decrease compared to the same period last year, it still beat the company's own guidance. The non-GAAP earnings per share (EPS) came in at $0.80, significantly outperforming the analyst estimate of $0.71 by 12.2%. The company's GAAP net income for the quarter stood at $11.6 million, or $0.39 per diluted share.

Adding to the positive sentiment, Impinj provided an optimistic outlook for the third quarter of 2025. The company projects revenues between $91.0 million and $94.0 million, surpassing analysts' expectations of $85.92 million. Impinj also forecasts adjusted net income between 47 cents and 51 cents per share, above estimates of 37 cents. Chris Diorio, Impinj's co-founder and CEO, emphasized the company's focus on extending its technology lead, increasing market share, and enhancing platform adoption while maintaining customer satisfaction.

Following the strong results and upbeat outlook, several analysts have raised their price targets for Impinj. Piper Sandler increased its target price to $180 from $140, while Needham raised its target to $165 from $115. Susquehanna also boosted its price target to $180 from $140. These upgrades reflect growing confidence in Impinj's business model and future prospects, further fueling the stock's pre-market surge.