Impinj (PI) 10-Q 28 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 16, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	IMPINJ, INC.
Entity Central Index Key	0001114995
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Incorporation, State or Country Code	DE
Entity Common Stock, Shares Outstanding		23,086,713
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Transition Report	false
Document Quarterly Report	true
Trading Symbol	PI
Entity Address, State or Province	WA
Entity File Number	001-37824
Entity Tax Identification Number	91-2041398
Entity Address, Address Line One	400 Fairview Avenue North
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Seattle
Entity Address, Postal Zip Code	98109
City Area Code	206
Local Phone Number	517-5300
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 40,063	$ 66,898
Short-term investments	65,057	49,597
Accounts receivable, net	17,730	23,735
Inventory	37,982	34,153
Prepaid expenses and other current assets	3,339	2,386
Total current assets	164,171	176,769
Property and equipment, net	16,365	17,442
Operating lease right-of-use assets	14,472	16,501
Other non-current assets	1,193	453
Goodwill	3,881	3,881
Total assets	200,082	215,046
Current liabilities:
Accounts payable	8,597	5,600
Accrued compensation and employee related benefits	4,062	5,859
Accrued liabilities	2,334	3,755
Current portion of operating lease liabilities	3,618	3,380
Current portion of deferred revenue	953	551
Other current liabilities	19	352
Total current liabilities	19,583	19,497
Long-term debt, net of current portion	53,595	50,876
Operating lease liabilities, net of current portion	16,160	18,907
Long-term liabilities — other	1,056	314
Deferred revenue, net of current portion	260	213
Total liabilities	90,654	89,807
Commitments and contingencies (Note 5)
Stockholders' equity:
Preferred stock, $0.001 par value — 5,000 shares authorized, no shares issued and outstanding at September 30, 2020 and December 31, 2019
Common stock, $0.001 par value — 495,000 shares authorized, 23,001 and 22,217 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	23	22
Additional paid-in capital	408,342	387,926
Accumulated other comprehensive income	12	34
Accumulated deficit	(298,949)	(262,743)
Total stockholders' equity	109,428	125,239
Total liabilities and stockholders' equity	$ 200,082	$ 215,046

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	495,000,000	495,000,000
Common stock, shares issued	23,001,000	22,217,000
Common stock, shares outstanding	23,001,000	22,217,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 28,196	$ 40,762	$ 102,475	$ 112,015
Cost of revenue	14,824	20,981	54,749	57,945
Gross profit	13,372	19,781	47,726	54,070
Operating expenses:
Research and development	11,901	10,344	33,619	27,678
Sales and marketing	6,964	7,842	20,577	24,579
General and administrative	7,527	5,503	26,215	16,653
Total operating expenses	26,392	23,689	80,411	68,910
Loss from operations	(13,020)	(3,908)	(32,685)	(14,840)
Other income, net	49	317	584	947
Interest expense	(1,360)	(413)	(4,021)	(1,263)
Loss before income taxes	(14,331)	(4,004)	(36,122)	(15,156)
Income tax expense	(15)	(77)	(84)	(151)
Net loss	$ (14,346)	$ (4,081)	$ (36,206)	$ (15,307)
Net loss per share — basic and diluted	$ (0.63)	$ (0.19)	$ (1.60)	$ (0.70)
Weighted-average shares outstanding — basic and diluted	22,931	21,961	22,686	21,738

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (14,346)	$ (4,081)	$ (36,206)	$ (15,307)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on investments	(46)	2	(22)	45
Total other comprehensive income (loss)	(46)	2	(22)	45
Comprehensive loss	$ (14,392)	$ (4,079)	$ (36,228)	$ (15,262)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (36,206)	$ (15,307)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	3,402	3,637
Stock-based compensation	15,501	11,813
Accretion of discount or amortization of premium on short-term investments	85	(464)
Amortization of debt issuance costs and debt discount	2,719	51
Changes in operating assets and liabilities:
Accounts receivable	6,005	(6,341)
Inventory	(3,829)	8,451
Prepaid expenses and other assets	(1,637)	(222)
Deferred revenue	449	114
Accounts payable	2,608	1,508
Accrued compensation and employee related benefits	(1,797)	(2,440)
Operating lease right-of-use assets	2,029	1,505
Operating lease liabilities	(2,509)	(2,255)
Accrued liabilities and other liabilities	(372)	164
Net cash provided by (used in) operating activities	(13,552)	214
Investing activities:
Purchases of investments	(57,298)	(59,036)
Proceeds from maturities of investments	41,675	51,794
Purchases of property and equipment	(2,336)	(971)
Net cash used in investing activities	(17,959)	(8,213)
Financing activities:
Principal payments on finance lease obligations	(240)	(410)
Payments on term and equipment loans		(4,222)
Proceeds from term loans, net of debt issuance costs		3,991
Proceeds from exercise of stock options and employee stock purchase plan	4,916	8,041
Net cash provided by financing activities	4,676	7,400
Net decrease in cash and cash equivalents	(26,835)	(599)
Cash and cash equivalents
Beginning of period	66,898	17,530
End of period	40,063	16,931
Supplemental disclosure of cashflow information:
Cash paid for interest	858	1,179
Purchases of property and equipment not yet paid	$ 544	$ 105

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In-Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2018	$ 97,883	$ 21	$ 337,627	$ (239,756)	$ (9)
Beginning balance, shares at Dec. 31, 2018		21,492
Issuance of common stock	1,863	$ 1	1,862
Issuance of common stock, shares		135
Stock-based compensation	3,477		3,477
Net loss	(7,068)			(7,068)
Other comprehensive income (loss)	16				16
Ending balance at Mar. 31, 2019	96,171	$ 22	342,966	(246,824)	7
Ending balance, shares at Mar. 31, 2019		21,627
Beginning balance at Dec. 31, 2018	97,883	$ 21	337,627	(239,756)	(9)
Beginning balance, shares at Dec. 31, 2018		21,492
Net loss	(15,307)
Other comprehensive income (loss)	45
Ending balance at Sep. 30, 2019	102,536	$ 22	357,541	(255,063)	36
Ending balance, shares at Sep. 30, 2019		22,128
Beginning balance at Mar. 31, 2019	96,171	$ 22	342,966	(246,824)	7
Beginning balance, shares at Mar. 31, 2019		21,627
Issuance of common stock	1,049		1,049
Issuance of common stock, shares		134
Stock-based compensation	3,543		3,543
Net loss	(4,158)			(4,158)
Other comprehensive income (loss)	27				27
Ending balance at Jun. 30, 2019	96,632	$ 22	347,558	(250,982)	34
Ending balance, shares at Jun. 30, 2019		21,761
Issuance of common stock	5,190		5,190
Issuance of common stock, shares		367
Stock-based compensation	4,793		4,793
Net loss	(4,081)			(4,081)
Other comprehensive income (loss)	2				2
Ending balance at Sep. 30, 2019	102,536	$ 22	357,541	(255,063)	36
Ending balance, shares at Sep. 30, 2019		22,128
Beginning balance at Dec. 31, 2019	125,239	$ 22	387,926	(262,743)	34
Beginning balance, shares at Dec. 31, 2019		22,217
Issuance of common stock	2,014	$ 1	2,013
Issuance of common stock, shares		460
Stock-based compensation	5,221		5,221
Net loss	(4,326)			(4,326)
Other comprehensive income (loss)	71				71
Ending balance at Mar. 31, 2020	128,219	$ 23	395,160	(267,069)	105
Ending balance, shares at Mar. 31, 2020		22,677
Beginning balance at Dec. 31, 2019	125,239	$ 22	387,926	(262,743)	34
Beginning balance, shares at Dec. 31, 2019		22,217
Net loss	(36,206)
Other comprehensive income (loss)	(22)
Ending balance at Sep. 30, 2020	109,428	$ 23	408,342	(298,949)	12
Ending balance, shares at Sep. 30, 2020		23,001
Beginning balance at Mar. 31, 2020	128,219	$ 23	395,160	(267,069)	105
Beginning balance, shares at Mar. 31, 2020		22,677
Issuance of common stock	1,015		1,015
Issuance of common stock, shares		109
Stock-based compensation	4,597		4,597
Net loss	(17,534)			(17,534)
Other comprehensive income (loss)	(47)				(47)
Ending balance at Jun. 30, 2020	116,250	$ 23	400,772	(284,603)	58
Ending balance, shares at Jun. 30, 2020		22,786
Issuance of common stock	1,887		1,887
Issuance of common stock, shares		215
Stock-based compensation	5,683		5,683
Net loss	(14,346)			(14,346)
Other comprehensive income (loss)	(46)				(46)
Ending balance at Sep. 30, 2020	$ 109,428	$ 23	$ 408,342	$ (298,949)	$ 12
Ending balance, shares at Sep. 30, 2020		23,001

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements include Impinj, Inc. and its wholly owned subsidiaries. We have eliminated intercompany balances and transactions in consolidation. Certain immaterial amounts on our condensed consolidated balance sheets in prior period have been reclassified to conform to current period presentation. We have prepared these condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2019 included in Impinj, Inc.’s Annual Report on Form 10-K, which was filed with the SEC on March 2, 2020. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited consolidated financial statements of Impinj, Inc. The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to state fairly our financial position, results of operations, and our cash flows for the periods presented. Interim results are not necessarily indicative of the results for a full year or for any other future period. Use of Estimates Preparing financial statements in conformity with GAAP requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, sales incentives, estimated costs to complete development contracts, deferred revenue, inventory excess and obsolescence, income taxes, determination of the fair value of stock awards and compensation and employee-related benefits. To the extent there are material differences between these estimates, judgments, or assumptions and actual results, our financial statements will be affected. Covid-19 has introduced significant additional uncertainty with respect to estimates, judgments and assumptions about current and forecasted demand, which may materially impact the estimates previously listed, among others. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board, or FASB, our financial positions, results of operations or cash flows Recently Issued Accounting Standards Not Yet Adopted In August 2020, the FASB issued guidance on debt with conversion and other options. This guidance eliminates the beneficial- and cash-conversion accounting models for convertible instruments, amends the derivative scope exception for contracts in an entity’s own equity and modifies how particular convertible instruments that may be settled in cash or shares impact the diluted earnings per share computation. This guidance is effective for interim and annual reporting periods beginning after December 15, 2021, and early adoption is permitted. We are currently evaluating the impact this guidance may have on our condensed consolidated financial statements and related disclosures. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not have, or are not expected to have, a material impact on our present or future consolidated financial statements. Accounts Receivable The allowance for doubtful accounts is our best estimate of the amount of probable lifetime-expected credit losses in existing accounts receivable and is determined based on our historical collections experience, age of the receivable, knowledge of the customer and the condition of the general economy and industry as a whole. We record changes in our estimate to the allowance for doubtful accounts through bad debt expense and write off the receivable and corresponding allowance when accounts are ultimately determined to be uncollectible. Bad debt expense is included in general and administrative expenses. For the periods presented in this report, bad debt expense and the allowance for doubtful account were not material. We derive the majority of our accounts receivable from sales to original equipment manufacturers, or OEMs, original design manufacturers, or ODMs, as well as to distributors who are large, well-established companies. We do not have customers that represent a significant credit risk based on current economic conditions and past collection experience. Also, we have not had material past-due balances on our accounts receivable as of September 30, 2020 Inventory We recorded inventory excess and obsolescence charges, which had an unfavorable net gross margin impact of 3.2% for the nine months ended September 30, 2020 September 30, 2020

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 2. Fair Value Measurements Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The standards also establish a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Assets and liabilities valued based on observable market data for similar instruments, such as quoted prices for similar assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity; instruments valued based on the best available data, some of which is internally developed, and considers risk premiums that a market participant would require. We applied the following methods and assumptions in estimating our fair value measurements: Cash Equivalents — Cash equivalents consist of highly liquid investments, including money market funds with original maturities of less than three months at the acquisition date. We record the fair value measurement of these assets based on quoted market prices in active markets. Investments — Our investments consist of fixed income securities, which typically include U.S. government agency securities, treasury bills, commercial paper, money market funds and corporate notes and bonds. The fair value measurement of these assets is based on observable market-based inputs or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Long-term Debt — See Note 6 for the carrying amount and estimated fair value of our convertible senior notes due 2026. The following table presents the balances of assets measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the dates presented (in thousands): September 30, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 32,872 $ — $ 32,872 $ 45,663 $ — $ 45,663 Total cash equivalents 32,872 — 32,872 45,663 — 45,663 Short-term investments: U.S. government agency securities — 10,070 10,070 — 32,323 32,323 Corporate notes and bonds — 11,028 11,028 — 13,305 13,305 Commercial paper — 23,971 23,971 — 3,969 3,969 Treasury bill — 19,988 19,988 — — — Total short-term investments — 65,057 65,057 — 49,597 49,597 Total $ 32,872 $ 65,057 $ 97,929 $ 45,663 $ 49,597 $ 95,260 We did not have any Level 3 assets as of September 30, 2020 or December 31, 2019. We did not measure any liabilities at fair value as of September 30, 2020 or December 31, 2019. The gross unrealized gains or losses on cash equivalents and short-term investments as of September 30, 2020 or December 31, 2019 were not material.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventory	Note 3. Inventory The following table presents the detail of inventories as of the dates presented (in thousands): September 30, 2020 December 31, 2019 Raw materials $ 4,167 $ 5,579 Work-in-process 9,281 7,485 Finished goods 24,534 21,089 Total inventory $ 37,982 $ 34,153

Stock-Based Awards

Stock-Based Awards	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Awards	Note 4. Stock-Based Awards Stock Options The following table summarizes stock option activity for the nine months ended September 30, 2020 (in thousands): Number of Underlying Shares Outstanding at December 31, 2019 3,262 Granted 649 Exercised (326 ) Forfeited or expired (166 ) Outstanding at September 30, 2020 3,419 Vested and exercisable at September 30, 2020 1,647 Restricted Stock Units The following table summarizes activity for restricted stock units, or RSUs, and RSUs with performance conditions, or PSUs, for the nine months ended September 30, 2020 (in thousands): Number of Underlying Shares RSUs PSUs Outstanding at December 31, 2019 509 252 Granted 543 241 Vested (120 ) (243 ) Forfeited (46 ) (9 ) Outstanding at September 30, 2020 886 241 We granted PSUs in 2019 and 2020 under our annual bonus program to our senior executives and other bonus-eligible employees. The number of annual PSUs that ultimately vest depends on us attaining a financial metric for the fiscal year as well as on the employee’s continued employment through the vesting date. The compensation committee and board of directors certified achievement of the financial metric for PSUs granted in 2019, vesting 243,000 shares in first-quarter 2020. Stock-Based Compensation Expense The following table presents stock-based compensation expense included in our condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 212 $ 192 $ 595 $ 495 Research and development expense 2,088 1,717 5,749 4,028 Sales and marketing expense 1,451 1,622 4,023 4,028 General and administrative expense 1,932 1,262 5,134 3,262 Total stock-based compensation expense $ 5,683 $ 4,793 $ 15,501 $ 11,813

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5. Commitments and Contingencies For information on our commitments and contingencies, see Part II, Item 8 (Financial Statements and Supplementary Data, Note 11. Commitments and Contingencies) of our Annual Report on Form 10-K for the year ended December 31, 2019. There have been no material changes to our commitments and contingencies, outside of the ordinary course of our business, as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019, except for “Obligations with Third-Parties” and “Litigation” as discussed below. Obligations with Third Parties We have certain non-cancelable obligations, which include obligations with third-party manufacturers who manufacture our products. We are committed to purchase $8.3 million of inventory as of September 30, 2020. Litigation From time to time, we are subject to various legal proceedings or claims that arise in the ordinary course of business. We accrue a liability when management believes that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. For the nine months ended September 30, 2020, we recorded $5.4 million of our estimated settlement of the federal securities class action to general and administrative expenses described further below. As of September 30, 2020 and December 31, 2019, we did not have accrued contingency liabilities. The following is a description of our significant legal proceedings. Although we believe that resolving these claims, individually or in aggregate, will not have a material adverse impact on our financial statements, these matters are subject to inherent uncertainties. Federal Securities Class Actions On August 7, 2018, a class-action complaint for violation of the federal securities laws was filed in the U.S. District Court for the Central District of California against us, our chief executive officer and former chief operating officer. Captioned Schultz v. Impinj, Inc., et al On August 27, 2018, a second class-action complaint for violation of the federal securities laws was filed in the U.S. District Court for the Western District of Washington against us, our chief executive officer, former chief operating officer and former chief financial officer. Captioned Montemarano v. Impinj, Inc., et al On October 2, 2018, a third class-action complaint for violation of the federal securities laws was filed in the U.S. District Court for the Western District of Washington against us, our chief executive officer, former chief operating officer and former chief financial officer. Captioned Employees’ Retirement System of the City of Baton Rouge and Parish of East Baton Rouge v. Impinj, Inc., et al On January 14, 2019, the U.S. District Court for the Western District of Washington consolidated the Montemarano and Baton Rouge actions and appointed the Employees’ Retirement System of the City of Baton Rouge and Parish of East Baton Rouge as lead plaintiff. On February 13, 2019, lead plaintiff filed a consolidated amended complaint. The consolidated amended complaint alleged that from July 21, 2016 through February 15, 2018, we made false or misleading statements about customer demand and the capability of our products and platform in violation of Section 10(b) of the Securities Exchange Act. On March 19, 2019, we filed a motion to dismiss the consolidated amended complaint, and on October 4, 2019, the court entered an order granting in part and denying in part the motion. The court dismissed the Section 10(b) claim against our former chief operating officer, dismissed product-capability-related allegations against our former chief financial officer, and dismissed allegations that defendants made false or misleading statements concerning increasing demand prior to first-quarter 2017. The court denied the motion as to all other claims and defendants. On July 9, 2020, following a private settlement mediation with the lead plaintiff in the federal securities class actions and plaintiff in the New York State securities class action discussed below, the parties in both actions executed a stipulation of settlement that resolved the claims asserted in both actions. The settlement provided for a payment to the plaintiff class of $20.0 million. Our insurers contributed $14.6 million to the settlement, and we contributed the remaining settlement amount of $5.4 million. Accordingly, we recorded a provision of $5.4 million related to our estimated settlement amount to general and administrative expenses for the three months ended June 30, 2020, which was paid during the three months ended September 30, 2020. On July 29, 2020, the court entered an order preliminarily approving the settlement, and set a final settlement approval hearing for November 19, 2020. New York State Securities Class Action On January 31, 2019, a fourth class-action complaint for violation of the federal securities laws was filed in the Supreme Court of the State of New York for the County of New York against us, our chief executive officer, former chief operating officer, former chief financial officer, members of our board of directors and the underwriters of our July 2016 initial public stock offering, or IPO, and December 2016 secondary public offering, or SPO. Captioned Plymouth County Retirement System v. Impinj, Inc., et al. As discussed above in connection with the Federal Securities Class Action, on July 9, 2020, the parties in both this action and the federal securities class actions executed a stipulation of settlement that resolved the claims in both actions. On July 29, 2020, the U.S. District Court for the Western District of Washington entered an order preliminarily approving the settlement, and set a final settlement approval hearing for November 19, 2020. Once the settlement is finally approved by the federal court, plaintiffs will dismiss this action with prejudice. Shareholder Derivative Actions On October 26, 2018, two shareholder derivative actions were filed in the U.S. District Court for the District of Delaware against our chief executive officer, former chief operating officer, former chief financial officer and certain of our directors. We were a nominal defendant. On November 8, 2018, a third shareholder derivative action was filed in this same court against the same defendants. Captioned Weiss v. Diorio, et al Fotouhi v. Diorio, et al and De la Fuente v. Diorio, et al. On July 10, 2020, following a private settlement mediation, the parties in this action executed a stipulation of settlement to settle and resolve the claims asserted in this consolidated derivative action. The settlement required us to implement certain corporate governance changes and the payment of up to $900,000 to plaintiffs’ counsel for attorneys’ fees and expenses. Our insurers have agreed to contribute up to $900,000 to plaintiffs’ counsel for attorneys’ fees and expenses. The proposed settlement is subject to preliminary and, following notice to shareholders, final approval by the U.S. District Court for the District of Delaware. On August 5, 2020, at the court’s request, the parties filed supplemental briefing in respect of their joint motion for preliminary approval of the settlement. The court has not yet entered an order preliminarily approving the settlement. Patent Infringement Claims and Counterclaims Patent Infringement Claims On June 6, 2019, we filed a patent infringement lawsuit against NXP USA, Inc., a Delaware corporation and subsidiary of NXP Semiconductors N.V., or NXP, in the U.S. District Court for the Northern District of California, or the Court. The original complaint alleged that certain NXP integrated circuit products infringed and continue to infringe 26 of our U.S. patents. At the order of the Court, we filed an amended complaint limited to eight of the original 26 patents. We subsequently elected to go forward with asserting infringement of six of those eight patents. We are seeking, among other things, past damages, including lost profits, but no less than a reasonable royalty; enhanced damages for willful infringement; and reasonable attorneys’ fees and costs for infringement of the asserted patents. We are also seeking an injunction against NXP making, selling, using, offering for sale or importing the RAIN RFID integrated circuit product NXP introduced in 2017. Defendants responded to our complaint on September 30, 2019 citing numerous defenses including denying infringement, claiming our asserted patents are invalid, and that the infringed patents were licensed on a royalty-free basis under Impinj’s commitments to GS1 EPCglobal. In February 2020, NXP filed inter partes On September 24, 2020, the Court lifted the stay on two of the patents in suit, and based on a schedule set by the Court on October 22, 2020, the case is proceeding with a claim construction hearing scheduled for March 24, 2021. Also on October 22, 2020, the Court continued the stay on infringement claims on two additional patents pending determinations on IPRs on two allegedly related patents not at issue, and we removed without prejudice the two patents against which the PTAB instituted IPRs. Patent Infringement Counterclaims On October 4, 2019, NXP USA, Inc. and NXP, filed a patent infringement lawsuit against us in the U.S. District Court for the District of Delaware. The complaint alleges that certain of our products infringed and continue to infringe eight U.S. patents owned by NXP or NXP USA, Inc. The plaintiffs are seeking, among other things, past damages adequate to compensate them for our alleged infringement of each of the patents-in-suit, and reasonable attorneys’ fees and costs. They are also seeking an injunction against us, enjoining continuing acts of infringement of the patents-in-suit. We have denied that we are infringing any of the patents, and we have asserted that we are licensed under four of them and that all eight are invalid. We have also filed IPR petitions with the PTAB against six of the eight patents. On September 23, 2020, the District of Delaware granted Impinj’s motion to transfer the case to the U.S. District Court for the Western District of Washington in Seattle. As of the date of this report, there is no schedule in this case.

Debt Facilities

Debt Facilities	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Facilities	Note 6. Debt Facilities Convertible Senior Notes In December 2019, we issued convertible senior notes due 2026, or the 2019 Notes, in an aggregate principal amount of $86.3 million. The 2019 Notes are our senior unsecured obligations and are governed by the indenture for the 2019 Notes. The 2019 Notes accrue interest at a fixed rate of 2.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning June 15, 2020. Upon conversion, the 2019 Notes will be convertible into cash, shares of our common stock or a combination thereof, at our election. The 2019 Notes will mature on December 15, 2026, unless earlier repurchased, redeemed, or converted in accordance with the terms of the indenture. Our net proceeds from issuing the 2019 Notes were approximately $83.5 million after deducting fees and expenses. We used a portion of the proceeds to pay the cost of the capped-call transactions described below and repay our senior credit facility. The 2019 Notes are convertible at an initial conversion rate of 28.9415 shares of our common stock per $1,000 principal amount of the 2019 Notes, which is equal to an initial conversion price of approximately $34.55 per share of our common stock, subject to adjustment under certain circumstances in accordance with the indenture. Prior to the close of business on the business day immediately preceding September 15, 2026, holders of the 2019 Notes may convert all or a portion of their 2019 Notes under the following circumstances: • during any fiscal quarter commencing after the fiscal quarter ending on March 31, 2020 (and only during such fiscal quarter), if the last reported sale price of our common stock, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day • during the five-business day period after any five consecutive trading-day period in which the trading price per $1,000 principal amount of the 2019 Notes for each trading day was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day • prior to the close of business on the second scheduled trading day immediately preceding the redemption date if we call the 2019 Notes for redemption; or • upon the occurrence of specified corporate events, as described in the indenture. On or after September 15, 2026, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of the 2019 Notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances. We may redeem the 2019 Notes for cash, at our option, on or after December 20, 2023, if the last reported sale price of our common stock has been at least 130% of the conversion price at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period at a redemption price equal to 100% of the principal amount of the 2019 Notes being redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. Holders of the 2019 Notes who convert their 2019 Notes in connection with certain corporate events that constitute a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. Additionally in the event of a corporate event constituting a fundamental change (as defined in the indenture), holders of the 2019 Notes may require us to repurchase all or a portion of their 2019 Notes at a repurchase price equal to 100% of the principal amount of the 2019 Notes being repurchased, plus any accrued and unpaid interest to, but excluding, the repurchase date. Certain convertible-debt instruments that may be settled in cash on conversion are required to be separated into a liability and an equity component. The total proceeds are first allocated to the liability component based on the fair value of a similar debt instrument without the conversion option. The remaining proceeds are allocated to the equity component and recognized in additional paid-in capital. Accordingly, we separated the 2019 Notes into a liability and an equity component. We determined the fair value of the liability component to be $52.5 million calculated as the present value of future cash flows discounted at the borrowing rate for a similar nonconvertible debt instrument based on the expected term. We determined the borrowing rate to be 9.90% based on the market rates for nonconvertible debt instruments issued by other companies with publicly available credit ratings considered to be comparable to us. We recognized the excess of the principal amount of the 2019 Notes over the initial carrying amount of the liability component as a debt discount of $33.8 million and are amortizing it to interest expense over the expected term of the 2019 Notes using the effective interest rate method. We recorded the equity component of $33.8 million as additional paid-in capital, calculated as the difference between the total proceeds of $86.3 million and the initial carrying amount of the liability component. We will not remeasure the equity component as long as it continues to meet the conditions for equity classification. As of September 30, 2020 We allocated the 2019 Notes t otal issuance costs of $2.8 million between liability and equity in the same proportion as the allocation of our total proceeds to liability and equity components. We amortize the issuance costs attributable to the liability component of $1.7 million to interest expense over the respective term of the 2019 Notes using the effective interest rate method. We netted the issuance costs attributable to the equity component of $1.1 million against the respective equity component in additional paid-in capital. The effective interest rate on the liability component of the 2019 Notes is 10.21%. As of September 30, 2020 The following table presents the interest expense related to the 2019 Notes for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Amortization of debt discount $ 897 $ — $ 2,637 $ — Amortization of debt issuance costs 30 — 83 — Cash interest expense 433 — 1,301 — Total interest expense $ 1,360 $ — $ 4,021 $ — Our estimated fair value of the 2019 Notes was $84.7 million and $87.0 million as of September 30, 2020 The following table presents the outstanding principal amount and carrying value of the 2019 Notes as of the date presented (in thousands): September 30, 2020 Outstanding principal amount 86,250 Unamortized debt discount and debt issuance costs (32,655 ) Carrying value 53,595 In connection with the issuance of the 2019 Notes, we entered into privately negotiated capped-call transactions with certain financial counterparties. The capped-call transactions are generally designed to reduce the potential dilution to our common stock upon any conversion or settlement of the 2019 Notes, or to offset any cash payments we are required to make in excess of the principal amount upon conversion of the 2019 Notes, as the case may be, with such reduction or offset subject to a cap based on the cap price. If, however, the market price per share of our common stock exceeds the cap price of the capped-call transactions then our stock would experience some dilution and/or the capped call would not fully offset the potential cash payments, in each case, to the extent the then-market price per share of our common stock exceeds the cap price. The initial cap price of the capped-call transactions is $54.20 per share, which represents a 100% premium over the last reported sale price of our common stock of $27.10 per share on December 11, 2019 subject to certain adjustments under the terms of the capped-call transactions. The capped-call transactions expire over 40 consecutive scheduled trading days ending on December 11, 2026. The capped-call transactions meet the criteria for classification in equity, are not accounted for as derivatives, and are not remeasured each reporting period. We paid $ capped-call transactions recorded as a reduction to additional paid-in-capital within shareholders’ equity.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Note 7. Leases The following table presents the components of lease expense Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease costs (a) Single lease costs $ 1,043 $ 1,039 $ 3,089 $ 3,141 Variable lease costs 428 410 1,311 1,310 Sublease income (b) (475 ) (468 ) (1,425 ) (1,403 ) Total operating lease costs $ 996 $ 981 $ 2,975 $ 3,048 (a) Includes short-term lease costs, which are immaterial. (b) Sublease income is related to unused office space that was sublet as part of the restructuring in fiscal 2018 where we continue to have the primary obligations. The following table presents supplemental cash-flow information related to operating leases for the periods presented (in thousands): Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used $ 3,561 $ 3,457 The following table presents weighted-average remaining lease term and weighted-average discount rate related to operating leases as of the dates presented: September 30, 2020 December 31, 2019 Weighted-average remaining lease term (years) 5.4 6.1 Weighted-average discount rate 6.8 % 6.8 % The following table presents future lease payments under operating leases as of September 30, 2020 (in thousands): Operating Leases Lease Payments Sublease Income Net 2020 $ 1,194 $ (348 ) $ 846 2021 4,790 (1,414 ) 3,376 2022 4,650 (1,457 ) 3,193 2023 3,263 (124 ) 3,139 2024 3,219 — 3,219 Thereafter 6,729 — 6,729 Total lease payments $ 23,845 $ (3,343 ) $ 20,502 Less: Imputed interest (4,067 ) Present value of lease liabilities 19,778 Less: Current portion of lease liabilities (3,618 ) Lease liabilities, net of current portion $ 16,160

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	Note 8. Net Loss Per Share The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share for the periods presented (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net loss $ (14,346 ) $ (4,081 ) $ (36,206 ) $ (15,307 ) Denominator: Weighted-average shares outstanding — basic and diluted 22,931 21,961 22,686 21,738 Net loss per share — basic and diluted $ (0.63 ) $ (0.19 ) $ (1.60 ) $ (0.70 ) The following table presents the outstanding shares of our common stock equivalents excluded from the computation of diluted net loss per share as of the dates presented because their effect would have been antidilutive (in thousands): Three and Nine Months Ended September 30, 2020 2019 Stock options 3,419 3,376 Restricted stock units and restricted stock units with performance conditions 1,127 686 Employee stock purchase plan shares 72 62

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Note 9. Segment Information We have one reportable operating segment, which is the development and sale of our RAIN RFID products and services. We identify this one reportable segment based on how our chief operating decision-maker manages our business, makes decisions and evaluates our operating performance. Our chief executive officer is the chief operating decision-maker and reviews financial and operational information on an entity-wide basis as one business activity. We do not have segment managers who are separately accountable for operations, operating results or plans. Accordingly, we determined that we have a single reportable operating segment. The chief executive officer reviews information about our revenue categories, which are endpoint ICs and systems. Systems revenue includes sales of reader ICs, reader modules, readers, gateways and software. The following table presents our revenue by category for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Endpoint ICs $ 21,586 $ 26,370 $ 73,806 $ 71,919 Systems 6,610 14,392 28,669 40,096 Total revenue $ 28,196 $ 40,762 $ 102,475 $ 112,015

Deferred Revenue

Deferred Revenue	9 Months Ended
	Sep. 30, 2020
Deferred Revenue Disclosure [Abstract]
Deferred Revenue	Note 10. Deferred Revenue Deferred revenue, comprising individually immaterial amounts for extended warranty, enhanced maintenance and advance payments on non-recurring engineering services contracts, represents revenue that has not yet been recognized. The following table presents the changes in deferred revenue for the periods presented (in thousands): Nine Months Ended September 30, 2020 2019 Balance at beginning of period $ 764 $ 834 Deferral of revenue 1,086 544 Recognition of deferred revenue (637 ) (430 ) Balance at end of period $ 1,213 $ 948 We recognized $411,000 of revenue related to amounts included in deferred revenue as of December 31, 2019 for the nine months ended September 30, 2020. We recognized $257,000 of revenue related to amounts included in deferred revenue as of December 31, 2018 for the nine months ended September 30, 2019.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related-Party Transactions	Note 11. Related-Party Transactions We have a consulting agreement with a limited liability company owned by Cathal Phelan, a member of our board of directors, pursuant to which Mr. Phelan provides advisory and consulting services. The term of the consulting agreement began in May 2020 and will end in December 2020, unless we and Mr. Phelan mutually agree to extend the term by an additional 12 months. We recognized and paid $134,000 and $315,000 of consulting fee expense to Mr. Phelan, or the limited liability company owned by Mr. Phelan, for the three and nine months ended September 30, 2020, respectively. Additionally, we granted 60,000 shares of stock options to Mr. Phelan on September 21, 2020 in connection with these consulting services, with 1/24th 1/24th

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements include Impinj, Inc. and its wholly owned subsidiaries. We have eliminated intercompany balances and transactions in consolidation. Certain immaterial amounts on our condensed consolidated balance sheets in prior period have been reclassified to conform to current period presentation. We have prepared these condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes as of and for the year ended December 31, 2019 included in Impinj, Inc.’s Annual Report on Form 10-K, which was filed with the SEC on March 2, 2020. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited consolidated financial statements of Impinj, Inc. The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary to state fairly our financial position, results of operations, and our cash flows for the periods presented. Interim results are not necessarily indicative of the results for a full year or for any other future period.
Use of Estimates	Use of Estimates Preparing financial statements in conformity with GAAP requires us to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, sales incentives, estimated costs to complete development contracts, deferred revenue, inventory excess and obsolescence, income taxes, determination of the fair value of stock awards and compensation and employee-related benefits. To the extent there are material differences between these estimates, judgments, or assumptions and actual results, our financial statements will be affected. Covid-19 has introduced significant additional uncertainty with respect to estimates, judgments and assumptions about current and forecasted demand, which may materially impact the estimates previously listed, among others.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board, or FASB, our financial positions, results of operations or cash flows
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In August 2020, the FASB issued guidance on debt with conversion and other options. This guidance eliminates the beneficial- and cash-conversion accounting models for convertible instruments, amends the derivative scope exception for contracts in an entity’s own equity and modifies how particular convertible instruments that may be settled in cash or shares impact the diluted earnings per share computation. This guidance is effective for interim and annual reporting periods beginning after December 15, 2021, and early adoption is permitted. We are currently evaluating the impact this guidance may have on our condensed consolidated financial statements and related disclosures. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not have, or are not expected to have, a material impact on our present or future consolidated financial statements.
Accounts Receivable	Accounts Receivable The allowance for doubtful accounts is our best estimate of the amount of probable lifetime-expected credit losses in existing accounts receivable and is determined based on our historical collections experience, age of the receivable, knowledge of the customer and the condition of the general economy and industry as a whole. We record changes in our estimate to the allowance for doubtful accounts through bad debt expense and write off the receivable and corresponding allowance when accounts are ultimately determined to be uncollectible. Bad debt expense is included in general and administrative expenses. For the periods presented in this report, bad debt expense and the allowance for doubtful account were not material. We derive the majority of our accounts receivable from sales to original equipment manufacturers, or OEMs, original design manufacturers, or ODMs, as well as to distributors who are large, well-established companies. We do not have customers that represent a significant credit risk based on current economic conditions and past collection experience. Also, we have not had material past-due balances on our accounts receivable as of September 30, 2020
Inventory	Inventory We recorded inventory excess and obsolescence charges, which had an unfavorable net gross margin impact of 3.2% for the nine months ended September 30, 2020 September 30, 2020

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Assets Measured at Fair Value on Recurring Basis	The following table presents the balances of assets measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the dates presented (in thousands): September 30, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 32,872 $ — $ 32,872 $ 45,663 $ — $ 45,663 Total cash equivalents 32,872 — 32,872 45,663 — 45,663 Short-term investments: U.S. government agency securities — 10,070 10,070 — 32,323 32,323 Corporate notes and bonds — 11,028 11,028 — 13,305 13,305 Commercial paper — 23,971 23,971 — 3,969 3,969 Treasury bill — 19,988 19,988 — — — Total short-term investments — 65,057 65,057 — 49,597 49,597 Total $ 32,872 $ 65,057 $ 97,929 $ 45,663 $ 49,597 $ 95,260

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	The following table presents the detail of inventories as of the dates presented (in thousands): September 30, 2020 December 31, 2019 Raw materials $ 4,167 $ 5,579 Work-in-process 9,281 7,485 Finished goods 24,534 21,089 Total inventory $ 37,982 $ 34,153

Stock-Based Awards (Tables)

Stock-Based Awards (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Options Activity	The following table summarizes stock option activity for the nine months ended September 30, 2020 (in thousands): Number of Underlying Shares Outstanding at December 31, 2019 3,262 Granted 649 Exercised (326 ) Forfeited or expired (166 ) Outstanding at September 30, 2020 3,419 Vested and exercisable at September 30, 2020 1,647
Summary of Restricted Stock Units	The following table summarizes activity for restricted stock units, or RSUs, and RSUs with performance conditions, or PSUs, for the nine months ended September 30, 2020 (in thousands): Number of Underlying Shares RSUs PSUs Outstanding at December 31, 2019 509 252 Granted 543 241 Vested (120 ) (243 ) Forfeited (46 ) (9 ) Outstanding at September 30, 2020 886 241
Summary of Stock-Based Compensation Expense	The following table presents stock-based compensation expense included in our condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenue $ 212 $ 192 $ 595 $ 495 Research and development expense 2,088 1,717 5,749 4,028 Sales and marketing expense 1,451 1,622 4,023 4,028 General and administrative expense 1,932 1,262 5,134 3,262 Total stock-based compensation expense $ 5,683 $ 4,793 $ 15,501 $ 11,813

Debt Facilities (Tables)

Debt Facilities (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Interest Expense	The following table presents the interest expense related to the 2019 Notes for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Amortization of debt discount $ 897 $ — $ 2,637 $ — Amortization of debt issuance costs 30 — 83 — Cash interest expense 433 — 1,301 — Total interest expense $ 1,360 $ — $ 4,021 $ —
Summary of Outstanding Principal Amount and Carrying Value	The following table presents the outstanding principal amount and carrying value of the 2019 Notes as of the date presented (in thousands): September 30, 2020 Outstanding principal amount 86,250 Unamortized debt discount and debt issuance costs (32,655 ) Carrying value 53,595

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Expense	The following table presents the components of lease expense Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease costs (a) Single lease costs $ 1,043 $ 1,039 $ 3,089 $ 3,141 Variable lease costs 428 410 1,311 1,310 Sublease income (b) (475 ) (468 ) (1,425 ) (1,403 ) Total operating lease costs $ 996 $ 981 $ 2,975 $ 3,048 (a) Includes short-term lease costs, which are immaterial. (b) Sublease income is related to unused office space that was sublet as part of the restructuring in fiscal 2018 where we continue to have the primary obligations.
Supplemental Cash Flow Information Related to Operating Leases	The following table presents supplemental cash-flow information related to operating leases for the periods presented (in thousands): Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used $ 3,561 $ 3,457
Schedule of Weighted-Average Remaining Lease Terms and Weighted-Average Discount Rate Related to Operating Leases	The following table presents weighted-average remaining lease term and weighted-average discount rate related to operating leases as of the dates presented: September 30, 2020 December 31, 2019 Weighted-average remaining lease term (years) 5.4 6.1 Weighted-average discount rate 6.8 % 6.8 %
Schedule of Future Lease Payments under Operating Leases	The following table presents future lease payments under operating leases as of September 30, 2020 (in thousands): Operating Leases Lease Payments Sublease Income Net 2020 $ 1,194 $ (348 ) $ 846 2021 4,790 (1,414 ) 3,376 2022 4,650 (1,457 ) 3,193 2023 3,263 (124 ) 3,139 2024 3,219 — 3,219 Thereafter 6,729 — 6,729 Total lease payments $ 23,845 $ (3,343 ) $ 20,502 Less: Imputed interest (4,067 ) Present value of lease liabilities 19,778 Less: Current portion of lease liabilities (3,618 ) Lease liabilities, net of current portion $ 16,160

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of the Numerator and Denominator used in Computing Basic and Diluted Net Loss Per Share	The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share for the periods presented (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net loss $ (14,346 ) $ (4,081 ) $ (36,206 ) $ (15,307 ) Denominator: Weighted-average shares outstanding — basic and diluted 22,931 21,961 22,686 21,738 Net loss per share — basic and diluted $ (0.63 ) $ (0.19 ) $ (1.60 ) $ (0.70 )
Computation of Diluted Net Loss Per Share Effect in Antidilutive	The following table presents the outstanding shares of our common stock equivalents excluded from the computation of diluted net loss per share as of the dates presented because their effect would have been antidilutive (in thousands): Three and Nine Months Ended September 30, 2020 2019 Stock options 3,419 3,376 Restricted stock units and restricted stock units with performance conditions 1,127 686 Employee stock purchase plan shares 72 62

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summary of Revenue Category	The following table presents our revenue by category for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Endpoint ICs $ 21,586 $ 26,370 $ 73,806 $ 71,919 Systems 6,610 14,392 28,669 40,096 Total revenue $ 28,196 $ 40,762 $ 102,475 $ 112,015

Deferred Revenue (Tables)

Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Revenue Disclosure [Abstract]
Summary of Changes in Deferred Revenue	The following table presents the changes in deferred revenue for the periods presented (in thousands): Nine Months Ended September 30, 2020 2019 Balance at beginning of period $ 764 $ 834 Deferral of revenue 1,086 544 Recognition of deferred revenue (637 ) (430 ) Balance at end of period $ 1,213 $ 948

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Significant Accounting Policies [Line Items]
Inventory excess and obsolescence charges, unfavorable impact on gross margin percentage	2.10%	3.20%	1.40%
ASU 2016-13
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect		true

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Fair Value Measurements Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 97,929,000	$ 95,260,000
Liabilities measured at fair value	0	0
Fair Value Measurements Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0
2019 Convertible Senior Notes due 2026
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, maturity year	2026

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 97,929	$ 95,260
Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	32,872	45,663
Cash Equivalents | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	32,872	45,663
Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	65,057	49,597
Short-term Investments | U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	10,070	32,323
Short-term Investments | Corporate Notes and Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	11,028	13,305
Short-term Investments | Treasury Bill
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	19,988
Short-term Investments | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	23,971	3,969
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	32,872	45,663
Level 1 | Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	32,872	45,663
Level 1 | Cash Equivalents | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	32,872	45,663
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	65,057	49,597
Level 2 | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	65,057	49,597
Level 2 | Short-term Investments | U.S. Government Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	10,070	32,323
Level 2 | Short-term Investments | Corporate Notes and Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	11,028	13,305
Level 2 | Short-term Investments | Treasury Bill
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	19,988
Level 2 | Short-term Investments | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 23,971	$ 3,969

Inventory - Schedule of Invento

Inventory - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 4,167	$ 5,579
Work-in-process	9,281	7,485
Finished goods	24,534	21,089
Total inventory	$ 37,982	$ 34,153

Stock-Based Awards - Summary of

Stock-Based Awards - Summary of Stock Options Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Underlying Shares, Outstanding, Beginning balance	3,262
Number of Underlying Shares, Granted	649
Number of Underlying Shares, Exercised	(326)
Number of Underlying Shares, Forfeited or expired	(166)
Number of Underlying Shares, Outstanding, Ending balance	3,419
Number of Underlying Shares, Vested and exercisable	1,647

Stock-Based Awards - Summary _2

Stock-Based Awards - Summary of Restricted Stock Units (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020shares
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Underlying Shares Outstanding, Balance	509
Number of Underlying Shares, Granted	543
Number of Underlying Shares, Vested	(120)
Number of Underlying Shares, Forfeited	(46)
Number of Underlying Shares Outstanding, Balance	886
Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Underlying Shares Outstanding, Balance	252
Number of Underlying Shares, Granted	241
Number of Underlying Shares, Vested	(243)
Number of Underlying Shares, Forfeited	(9)
Number of Underlying Shares Outstanding, Balance	241

Stock-Based Awards - Additional

Stock-Based Awards - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020shares
Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares vesting upon achievement of financial metric	243,000

Stock-Based Awards - Summary _3

Stock-Based Awards - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 5,683	$ 4,793	$ 15,501	$ 11,813
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	212	192	595	495
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,088	1,717	5,749	4,028
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,451	1,622	4,023	4,028
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,932	$ 1,262	$ 5,134	$ 3,262

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Oct. 22, 2020Patent	Oct. 04, 2020Patent	Sep. 24, 2020Patent	Jul. 10, 2020USD ($)	Jul. 09, 2020USD ($)	Jun. 06, 2019Patent	Feb. 29, 2020Patent	Sep. 30, 2020USD ($)Patent	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Commitments And Contingencies [Line Items]
Inventory purchase commitment, amount | $								$ 8,300,000		$ 8,300,000
Patent Infringement Claims
Commitments And Contingencies [Line Items]
Number of patents allegedly infringed						26
Number of patents, complaint filed						8
Number of patents found						6
Number of patents filed inter parties review with patent trail and appeal board							12
Number patents currently at issue							6
Number patents declined institute review								4
Stay lifted for number of patents			2
Patent Infringement Claims | Subsequent Event
Commitments And Contingencies [Line Items]
Amended complaint to remove without prejudice for number patents	2
Additional patents on which Court continued stay	2
Patent Infringement Counterclaims | Subsequent Event
Commitments And Contingencies [Line Items]
Number of patents allegedly infringed		8
Number of patents filed inter parties review with patent trail and appeal board		6
Number of asserted patents		4
Number of asserted patents Invalid		8
Federal Securities Class Actions and New York State Securities Class Actions
Commitments And Contingencies [Line Items]
Litigation settlement provides for payment to plaintiff class | $					$ 20,000,000
Federal Securities Class Actions and New York State Securities Class Actions | Impinj Inc.
Commitments And Contingencies [Line Items]
Litigation settlement provides for payment to plaintiff class | $					5,400,000
Federal Securities Class Actions and New York State Securities Class Actions | Insurer
Commitments And Contingencies [Line Items]
Litigation settlement provides for payment to plaintiff class | $					$ 14,600,000
Federal Securities Class Actions and New York State Securities Class Actions | General and Administrative Expenses
Commitments And Contingencies [Line Items]
Provision related to estimated settlement amount | $									$ 5,400,000	5,400,000
Shareholder Derivative Actions | Maximum
Commitments And Contingencies [Line Items]
Payment to plaintiffs counsel for attorneys fees and expenses | $				$ 900,000
Shareholder Derivative Actions | Insurer | Maximum
Commitments And Contingencies [Line Items]
Payment to plaintiffs counsel for attorneys fees and expenses | $				$ 900,000
Accrued Liabilities
Commitments And Contingencies [Line Items]
Contingent liabilities | $								$ 0		$ 0	$ 0

Debt Facilities - Convertible S

Debt Facilities - Convertible Senior Notes - Additional Information (Details)	Dec. 11, 2019$ / shares	Dec. 31, 2019USD ($)d$ / sharesshares	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Debt instrument, threshold trading days | d		5
Number of business day | d		5
Payment for capped call transactions		$ 10,100,000
2019 Convertible Senior Notes due 2026
Debt Instrument [Line Items]
Aggregate principal amount		$ 86,300,000
Debt instrument, Interest rate		2.00%
Debt instrument, maturity date		Dec. 15, 2026
Debt Instrument, frequency of periodic payment			The 2019 Notes accrue interest at a fixed rate of 2.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning June 15, 2020.
Net proceeds from issuing notes		$ 83,500,000
Debt instrument convertible common stock conversion shares per 1000 principal amount of notes | shares		28.9415
Debt instrument, initial conversion ratio		0.0289415
Debt instrument, initial conversion price | $ / shares		$ 34.55
Debt instrument, threshold consecutive trading days | d		30
Debt instrument, threshold percentage of stock price trigger		130.00%
Debt instrument, terms of conversion feature			On or after September 15, 2026, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of the 2019 Notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances.
Percentage of repurchase price of principal amount		100.00%
Debt instrument, borrowing interest rate percentage		9.90%
Fair value of liability component upon issuance		$ 52,500,000
Initial carrying amount of liability component recognized as debt discount		33,800,000
Proceeds from convertible debt		86,300,000
Adjustments recorded in additional paid-in capital		33,800,000
Total issuance cost allocated between liability and equity		2,800,000
Liability issuance costs		1,700,000
Equity issuance costs		$ 1,100,000
Effective interest rate on the liability component		10.21%
Accrued interest			$ 507,000
Cap price of the capped call transactions | $ / shares		$ 54.20
Premium percentage on sale price of common stock	100.00%
Common stock sale price per share last reported | $ / shares	$ 27.10
Capped call transactions expiration consecutive days | d		40
Capped call transaction expiring date	Dec. 11, 2026
2019 Convertible Senior Notes due 2026 | Level 2
Debt Instrument [Line Items]
Estimated fair value		$ 87,000,000	$ 84,700,000
2019 Convertible Senior Notes due 2026 | Minimum
Debt Instrument [Line Items]
Debt instrument, threshold trading days | d		20
2019 Convertible Senior Notes due 2026 | Maximum
Debt Instrument [Line Items]
Debt instrument, threshold percentage of stock price trigger		98.00%

Debt Facilities - Schedule of I

Debt Facilities - Schedule of Interest Expense (Details) - 2019 Convertible Senior Notes due 2026 - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Debt Instrument [Line Items]
Amortization of debt discount	$ 897	$ 2,637
Amortization of debt issuance costs	30	83
Cash interest expense	433	1,301
Total interest expense	$ 1,360	$ 4,021

Debt Facilities - Summary of Ou

Debt Facilities - Summary of Outstanding Principal Amount and Carrying Value (Details) - 2019 Convertible Senior Notes due 2026 $ in Thousands	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Outstanding principal amount	$ 86,250
Unamortized debt discount and debt issuance costs	(32,655)
Carrying value	$ 53,595

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating lease costs
Single lease costs	$ 1,043	$ 1,039	$ 3,089	$ 3,141
Variable lease costs	428	410	1,311	1,310
Sublease income:
Sublease income	(475)	(468)	(1,425)	(1,403)
Total operating lease costs	$ 996	$ 981	$ 2,975	$ 3,048

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used	$ 3,561	$ 3,457

Leases - Schedule of Weighted-A

Leases - Schedule of Weighted-Average Remaining Lease Terms and Weighted-Average Discount Rate Related to Operating Leases (Details)	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term (years)	5 years 4 months 24 days	6 years 1 month 6 days
Weighted-average discount rate	6.80%	6.80%

Leases - Schedule of Future Lea

Leases - Schedule of Future Lease Payments under Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Leases, Lease Payments, 2020	$ 1,194
Operating Leases, Lease Payments, 2021	4,790
Operating Leases, Lease Payments, 2022	4,650
Operating Leases, Lease Payments, 2023	3,263
Operating Leases, Lease Payments, 2024	3,219
Operating Leases, Lease Payments, Thereafter	6,729
Operating Leases, Lease Payments, Total lease payments	23,845
Less: Imputed interest	(4,067)
Present value of lease liabilities	19,778
Less: Current portion of lease liabilities	(3,618)	$ (3,380)
Operating lease liabilities, net of current portion	16,160	$ 18,907
Operating Leases, Sublease Income, 2020	(348)
Operating Leases, Sublease Income, 2021	(1,414)
Operating Leases, Sublease Income, 2022	(1,457)
Operating Leases, Sublease Income, 2023	(124)
Operating Leases, Sublease Income, Total lease payments	(3,343)
Operating Leases, Net, 2020	846
Operating Leases, Net, 2021	3,376
Operating Leases, Net, 2022	3,193
Operating Leases, Net, 2023	3,139
Operating Leases, Net, 2024	3,219
Operating Leases, Net, Thereafter	6,729
Operating Leases, Net, Total lease payments	$ 20,502

Net Loss Per Share - Reconcilia

Net Loss Per Share - Reconciliation of the Numerator and Denominator used in Computing Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net loss	$ (14,346)	$ (17,534)	$ (4,326)	$ (4,081)	$ (4,158)	$ (7,068)	$ (36,206)	$ (15,307)
Denominator:
Weighted-average shares outstanding — basic and diluted	22,931			21,961			22,686	21,738
Net loss per share — basic and diluted	$ (0.63)			$ (0.19)			$ (1.60)	$ (0.70)

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Diluted Net Loss Per Share Effect in Antidilutive (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,419	3,376	3,419	3,376
Restricted Stock Units and Restricted Stock Units with Performance Conditions
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,127	686	1,127	686
Employee Stock Purchase Plan Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	72	62	72	62

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020Segment
Segment Reporting [Abstract]
Number of reportable operating segment	1

Segment Information - Summary o

Segment Information - Summary of Revenue by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 28,196	$ 40,762	$ 102,475	$ 112,015
Endpoint ICs
Segment Reporting Information [Line Items]
Total revenue	21,586	26,370	73,806	71,919
Systems
Segment Reporting Information [Line Items]
Total revenue	$ 6,610	$ 14,392	$ 28,669	$ 40,096

Deferred Revenue - Summary of C

Deferred Revenue - Summary of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Deferred Revenue Disclosure [Abstract]
Balance at beginning of period	$ 764	$ 834
Deferral of revenue	1,086	544
Recognition of deferred revenue	(637)	(430)
Balance at end of period	$ 1,213	$ 948

Deferred Revenue - Additional I

Deferred Revenue - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Deferred Revenue Disclosure [Abstract]
Recognition of deferred revenue	$ 411,000	$ 257,000

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Details) - Cathal Phelan - Advisory and Consulting Services - USD ($)	Sep. 21, 2020	Sep. 30, 2020	Sep. 30, 2020
Related Party Transaction [Line Items]
Consulting agreement extended term			12 months
Consulting fee expense recognized and paid		$ 134,000	$ 315,000
Stock options granted	60,000
1/24th of Shares Shall Vest on October 21, 2020
Related Party Transaction [Line Items]
Stock options, vesting percentage	4.17%
1/24th of Shares Shall Vest Subject on Each Month Thereafter, Subject to His Continued Consulting Services
Related Party Transaction [Line Items]
Stock options, vesting percentage	4.17%