indie Semiconductor (NASDAQ:INDI) Announces Earnings Results

Key Points

• Q2 revenue increased 24% year over year to $64.0 million, exceeding expectations, while the adjusted operating loss narrowed to $8.9 million. EPS came in at a loss of $0.05, matching consensus.
• Management expects continued growth, guiding Q3 revenue to $67 million–$73 million as demand accelerates for radar, DRAMless vision, photonics and robotics products.
• Despite improving losses, indie remains unprofitable and cash declined to $149 million; analysts maintain a consensus “Hold” rating with a $4.75 target price.

indie Semiconductor (NASDAQ:INDI - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05), FiscalAI reports. The business had revenue of $64.01 million during the quarter, compared to analysts' expectations of $62.49 million. indie Semiconductor had a negative return on equity of 30.89% and a negative net margin of 65.18%.The business's quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share.

Here are the key takeaways from indie Semiconductor's conference call:

• Q2 revenue rose 24% year over year to $64 million, exceeding the midpoint of guidance by $2 million. Non-GAAP operating loss improved to $8.9 million from $14.5 million a year earlier.
• Management highlighted accelerating demand for its radar and vision products, including a significant Volvo design win, multiple iND880 DRAMless wins, and anticipated steep ramps across automotive and physical AI applications.
• Indie reported record Quantum photonics bookings, recurring laser orders, and customer-funded development programs, while robotics wins with Unitree and Agibot broaden the company’s exposure beyond automotive.
• The company guided Q3 revenue to $67 million-$73 million, with operating expenses expected to decline to $37 million and loss per share to improve to approximately $0.04 at the midpoint.
• Cash and restricted cash fell $35.7 million sequentially to $149 million as Indie funded inventory, receivables, capital expenditures, and operating losses. The planned CMOS image sensor acquisition and Wuxi divestiture also remain subject to regulatory approval, though management expects both processes to progress before year-end.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI traded up $0.61 during trading on Friday, hitting $4.04. 9,415,613 shares of the company's stock were exchanged, compared to its average volume of 4,923,884. The business's 50-day simple moving average is $3.99 and its 200 day simple moving average is $3.76. The company has a market cap of $916.68 million, a price-to-earnings ratio of -5.53 and a beta of 2.79. indie Semiconductor has a 52-week low of $2.32 and a 52-week high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39.

Insider Buying and Selling

In related news, COO Michael Wittmann sold 39,645 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $4.80, for a total value of $190,296.00. Following the transaction, the chief operating officer directly owned 98,309 shares of the company's stock, valued at approximately $471,883.20. The trade was a 28.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald Mcclymont sold 126,496 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.45, for a total transaction of $562,907.20. Following the sale, the chief executive officer directly owned 424,617 shares of the company's stock, valued at approximately $1,889,545.65. This trade represents a 22.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,490,456 shares of company stock valued at $7,501,613. Corporate insiders own 2.57% of the company's stock.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of INDI. Primecap Management Co. CA boosted its holdings in shares of indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock valued at $105,105,000 after purchasing an additional 873,940 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of indie Semiconductor by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 4,895,365 shares of the company's stock worth $17,283,000 after buying an additional 98,833 shares in the last quarter. Millennium Management LLC boosted its stake in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Squarepoint Ops LLC boosted its stake in indie Semiconductor by 204.2% during the fourth quarter. Squarepoint Ops LLC now owns 1,783,375 shares of the company's stock valued at $6,295,000 after buying an additional 1,197,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in indie Semiconductor by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,589 shares of the company's stock valued at $5,929,000 after buying an additional 54,317 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research note on Friday, May 8th. TD Cowen upped their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research report on Monday, July 13th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research note on Friday. Wall Street Zen upgraded shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.75.

More indie Semiconductor News

Here are the key news stories impacting indie Semiconductor this week:

• Positive Sentiment: Q2 revenue beat expectations: Revenue rose 24% year over year to $64.0 million, exceeding the $62.5 million consensus estimate. The company’s adjusted operating loss narrowed to $8.9 million from $14.5 million a year earlier, while its per-share loss of $0.05 matched expectations. indie Reports Second Quarter 2026 Results
• Positive Sentiment: Management forecasts further growth: indie expects third-quarter 2026 revenue of $67 million to $73 million, a range that brackets the $70.2 million analyst consensus and implies sequential growth from Q2. Indie anticipates Q3 2026 revenue of $67M-$73M
• Positive Sentiment: Product pipeline remains a catalyst: The company is expanding its radar, DRAMless vision and photonics offerings, which could support new automotive design wins and longer-term revenue growth. indie Semiconductor Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Losses remain substantial: Although profitability improved, indie still reported a GAAP operating loss of $35.1 million, a negative net margin and negative return on equity. Analysts continue to expect a full-year loss. indie Semiconductor Reports Q2 Loss, Beats Revenue Estimates
• Negative Sentiment: Guidance is not a clear upside surprise: The midpoint of the Q3 revenue outlook is broadly in line with estimates, limiting the immediate impact of the forecast despite its expected sequential increase.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie's product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.

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