indie Semiconductor Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose 31% YoY, with core growth and radar volume production supporting the outlook for >20% FY revenue growth. Vision, Physical AI and photonics broadened the pipeline, while Wuxi divestiture and margin pressure remain key considerations.
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Q2 revenue rose 24% year-over-year to $64 million, driven by strong radar, vision, and photonics growth, with significant traction in China and expanding design wins. Guidance for Q3 projects further revenue growth and improved margins, while regulatory approvals for key transactions remain pending.
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Q1 2026 revenue grew 3% year-over-year to $55.5M, with strong core ADAS and vision portfolio momentum. A $25M radar order and expanding photonics and LIDAR segments highlight growth, while refinancing improved financial flexibility.
Fiscal Year 2025
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Q4 2025 revenue reached $58M, up 8% sequentially, with strong momentum in radar and vision programs. Core business revenue is expected to grow 20% sequentially in Q1 2026, while supply chain constraints and the Wuxi business sale remain key factors.
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Q3 revenue reached $53.7M with improved operating loss and strong backlog growth, driven by radar and vision wins. Q4 guidance reflects supply chain headwinds, but margin and profitability are expected to improve as new programs ramp and the Wuxi divestiture closes.
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Q2 revenue and margins exceeded guidance, driven by strong ADAS and vision momentum, with new design wins in automotive, industrial, and quantum markets. The company announced the acquisition of emotion3D and expects continued growth and improved profitability in Q3.
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Q1 revenue grew 3.3% year-over-year to $54.1 million, with strong ADAS design wins and over 500 million chips shipped. Restructuring will reduce OpEx by up to $10 million per quarter, lowering break-even to $65 million revenue, while market uncertainty persists due to tariffs and OEM production cuts.
Fiscal Year 2024
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Q4 2024 revenue reached $58M with strong gross margins and sequential growth, despite industry headwinds. Multiple product ramps and design wins position the company for significant growth in 2025, though near-term uncertainty from tariffs and macro factors persists.
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Q3 revenue grew to $54M with strong gross margins and a 12% increase in strategic backlog to $7.1B. Guidance for Q4 projects continued sequential growth, with ADAS and user experience products driving momentum despite industry headwinds.
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Q2 2024 revenue was flat at $52.4M amid automotive market headwinds, but technical milestones in radar and vision, plus new design wins, position the company for sequential growth in late 2024 and a strong ramp in 2025. Gross margin was 50.3% and no design wins were lost.