PI
Impinj, Inc.
Is PI Halal?
RFID semiconductor, reader and software business — generally permissible activity, but current debt and liquidity screens fail.
What You Should Know
Impinj's March 31, 2026 Form 10-Q reports assets of $502.524 million, debt of $241.470 million, cash of $32.295 million, investments of $202.929 million, receivables of $72.354 million and quarterly revenue of $74.250 million. Debt/assets is 48.05%, liquidity/assets is 46.81%, receivables plus cash/assets is 20.82% and other income, net is a conservative upper bound of 3.59% of revenue. Debt and liquidity screens fail; no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Debt/assets is 48.05%, above examined 33.333% limits
- •Liquidity/assets is 46.81%, above examined 33.333% limits
- •Large investment portfolio and convertible-note debt
- •Other income, net is a conservative upper bound of 3.59%; no fixed purification percentage asserted
- •RFID privacy, customer and downstream end-use review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
241.47 / 502.524
235.224 / 502.524
104.649 / 502.524
2.666 / 74.25
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.05% and liquidity/assets is 46.81%, above examined limits; receivables-plus-cash/assets is 20.82% and the income upper bound is 3.59%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.05% and liquidity/assets is 46.81%, above the examined MSCI total-assets limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 48.05% and liquidity/assets is 46.81%, above the examined Malaysia limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based debt and liquidity screens already fail.
Business-activity disclosure
Impinj develops RAIN RFID endpoint chips, readers and connectivity software for inventory, retail and supply-chain use. The technology activity is generally permissible, while downstream customer and end-use revenue is not reduced to a universal prohibited-revenue numerator.
Limitation: The filing does not classify every customer, product or end use by a universal Sharia category; activity remains qualitative.
Purification
Other income, net is used as a conservative upper bound because it is primarily interest income; ZakatInvest does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Impinj's March 31, 2026 Form 10-Q.
- Long-term debt is $241.470 million; operating lease liabilities are excluded.
- Cash is $32.295 million and short- plus long-term investments in government, corporate and commercial-paper securities total $202.929 million.
- Net accounts receivable is $72.354 million and first-quarter revenue is $74.250 million.
- Other income, net is $2.666 million and is described as primarily interest income on short-term investments; it is used as a conservative upper bound, not a fixed purification percentage.
- RAIN RFID semiconductors, readers and software are generally permissible, but no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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