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Impinj vs Vicor: revenue, profit, margins and growth compared

Impinj brought in $361.1M of revenue in fiscal 2025, Vicor $452.7M in fiscal 2025. Revenue changed by -1.4% at Impinj and +26.1% at Vicor on the year before, so Vicor grew faster. Impinj kept -3.0% of its revenue as net profit, Vicor 26.2%. Free cash flow was $45.9M at Impinj and $119.2M at Vicor.

Side by side, latest fiscal year

PIVICR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$361.1M$452.7M
Revenue growth-1.4%+26.1%
Net income-$10.8M$118.6M
Net margin-3.0%26.2%
Free cash flow$45.9M$119.2M
Free cash flow margin12.7%26.3%
Earnings per share (diluted)-$0.37$2.61
Cash$48.2M$402.8M
Debt$280.9Mn/a
Price to earningsn/a108.0
Market value$5.4B$13B
Dividend yieldn/an/a
Rank by revenue in sector#340 of 530 · Technology#317 of 530 · Technology

Over the years

Revenue
PI FY2018: $122.6MPI FY2019: $152.8MPI FY2020: $138.9MPI FY2021: $190.3MPI FY2022: $257.8MPI FY2023: $307.5MPI FY2024: $366.1MPI FY2025: $361.1MVICR FY2018: $291.2MVICR FY2019: $263MVICR FY2020: $296.6MVICR FY2021: $359.4MVICR FY2022: $399.1MVICR FY2023: $405.1MVICR FY2024: $359.1MVICR FY2025: $452.7MFY18FY19FY20FY21FY22FY23FY24FY25
PI $361.1MVICR $452.7M
Net income
PI FY2018: -$35.2MPI FY2019: -$23MPI FY2020: -$51.9MPI FY2021: -$51.3MPI FY2022: -$24.3MPI FY2023: -$43.4MPI FY2024: $40.8MPI FY2025: -$10.8MVICR FY2018: $31.7MVICR FY2019: $14.1MVICR FY2020: $17.9MVICR FY2021: $56.6MVICR FY2022: $25.4MVICR FY2023: $53.6MVICR FY2024: $6.1MVICR FY2025: $118.6MFY18FY19FY20FY21FY22FY23FY24FY25
PI -$10.8MVICR $118.6M
Net margin
PI FY2018: -28.7%PI FY2019: -15.0%PI FY2020: -37.4%PI FY2021: -26.9%PI FY2022: -9.4%PI FY2023: -14.1%PI FY2024: 11.2%PI FY2025: -3.0%VICR FY2018: 10.9%VICR FY2019: 5.4%VICR FY2020: 6.0%VICR FY2021: 15.8%VICR FY2022: 6.4%VICR FY2023: 13.2%VICR FY2024: 1.7%VICR FY2025: 26.2%FY18FY19FY20FY21FY22FY23FY24FY25
PI -3.0%VICR 26.2%
Revenue growth
PI FY2019: +24.6%PI FY2020: -9.1%PI FY2021: +37.0%PI FY2022: +35.5%PI FY2023: +19.3%PI FY2024: +19.0%PI FY2025: -1.4%VICR FY2019: -9.7%VICR FY2020: +12.8%VICR FY2021: +21.2%VICR FY2022: +11.1%VICR FY2023: +1.5%VICR FY2024: -11.4%VICR FY2025: +26.1%FY19FY20FY21FY22FY23FY24FY25
PI -1.4%VICR +26.1%
Free cash flow
PI FY2018: -$18.1MPI FY2019: $2.3MPI FY2020: -$20MPI FY2021: -$9.8MPI FY2022: -$11.4MPI FY2023: -$68MPI FY2024: $111.2MPI FY2025: $45.9MVICR FY2018: $18MVICR FY2019: $9.7MVICR FY2020: $6.1MVICR FY2021: $6.7MVICR FY2022: -$41MVICR FY2023: $41.1MVICR FY2024: $27.2MVICR FY2025: $119.2MFY18FY19FY20FY21FY22FY23FY24FY25
PI $45.9MVICR $119.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Impinj and Vicor

Which is bigger by revenue, Impinj or Vicor?

Vicor is bigger by revenue: $452.7M in fiscal 2025, against $361.1M for Impinj in fiscal 2025.

Which keeps more of its revenue as profit, Impinj or Vicor?

Impinj had a net margin of -3.0% in fiscal 2025; Vicor had 26.2% in fiscal 2025.

Which grew revenue faster, Impinj or Vicor?

In their latest fiscal years revenue changed by -1.4% at Impinj and +26.1% at Vicor.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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