Impinj (PI) shares plummeted 35.84% in after-hours trading following the release of its fourth-quarter 2025 financial results and first-quarter 2026 guidance.

The company reported Q4 adjusted earnings per share of $0.50, meeting analyst estimates, and revenue of $92.849 million, which slightly exceeded expectations. However, the stock's sharp decline was driven by a significantly weaker outlook for the current quarter.

For Q1 2026, Impinj forecasts revenue in the range of $71 million to $74 million, a notable sequential decrease from Q4's $92.8 million. The company also guided to an adjusted EPS of just $0.08 to $0.13 and expects a reported net loss between $15.1 million and $16.6 million. This soft guidance, indicating a slowdown in growth and continued losses, appears to have prompted the severe negative market reaction.