Welcome to our dedicated page for INDIE SEMICONDUCTOR news (Ticker: INDI), a resource for investors and traders seeking the latest updates and insights on INDIE SEMICONDUCTOR stock.
indie Semiconductor, Inc. reports developments tied to automotive semiconductors, photonics and perception software for ADAS and adjacent industrial markets. Its updates regularly cover mixed-signal SoCs and system solutions, sensor modalities such as radar, LiDAR, ultrasound and computer vision, and embedded control, power management and interface products used in automated vehicle safety features.
Company news also includes quarterly operating results, business outlook commentary, production orders and chipset shipments with Tier 1 automotive partners, photonics products for quantum applications, equity-inducement grants and capital-structure actions such as convertible note offerings. Recent product coverage includes UV DFB laser sources for cooled-atom quantum systems alongside the company's automotive sensing portfolio.
indie Semiconductor plans to offer $125 million of Convertible Senior Notes due 2027 in a private placement. The offering includes an option for initial purchasers to buy an additional $18.75 million of notes. Concurrently, the Board authorized a $50 million stock repurchase, aiming to utilize up to $25 million from the notes' proceeds. The notes will be unsecured with interest paid semiannually, maturing on November 15, 2027. Proceeds will support stock buybacks and general corporate purposes.
indie Semiconductor reported a record $30.0 million in Q3 2022 revenue, up 147% year-over-year and 17% sequentially. The non-GAAP gross margin improved to 50.4%, reflecting a 740 basis point increase from the previous year. Despite an operating loss of $25.9 million (GAAP) and $15.8 million (non-GAAP), the company anticipates an annualized revenue run-rate of approximately $132 million for Q4 2022. Strategic backlog has grown to $4.3 billion, double from last year, indicating strong demand for their Autotech solutions.
indie Semiconductor (Nasdaq: INDI) announced a conference call on November 10, 2022, at 5:00 p.m. Eastern time to discuss its third quarter 2022 results and future outlook. The earnings press release will be available after market close on the same day. Investors can access the call via the Internet or telephone, with replay options available until November 24, 2022. indie focuses on automotive semiconductors and software, enhancing the Autotech revolution with advanced sensors for electric and autonomous vehicles.
indie Semiconductor (Nasdaq: INDI) has announced participation in key investor conferences, showcasing its position in the Autotech sector. Management, including CEO Donald McClymont and CFO Thomas Schiller, will attend the Jefferies Summit on August 30, 2022, in Chicago, the Deutsche Bank 2022 Technology Conference on September 1, 2022, in Las Vegas, and a KeyBanc Non-Deal Roadshow on September 8, 2022, in New York. Their attendance highlights indie's commitment to advancing automotive semiconductor and software solutions.
indie Semiconductor, Inc. (Nasdaq: INDI) reported second quarter revenue of $25.8 million, a surge of 181% year-over-year and 17% sequentially, exceeding estimates. Non-GAAP gross margin improved to 48.6%, up 650 basis points year-over-year. Despite an operating loss of $30 million on a GAAP basis, the company anticipates Q3 revenue growth of 140-150% year-over-year, aiming for an annualized run-rate of $120 million. The firm highlights strong demand for Autotech solutions and ongoing R&D investments, targeting profitability in the latter half of next year.
indie Semiconductor (Nasdaq: INDI) supports the U.S. Senate's progress on the CHIPS Act, which aims to allocate over $50 billion for semiconductor manufacturing and R&D incentives. The Act includes a 25% tax credit for semiconductor facilities, enabling growth for fabless and integrated device manufacturers. CEO Donald McClymont emphasized the benefits for indie, including enhanced hiring plans and improved supply chain flexibility. The next steps include final Senate approval and a vote in the House of Representatives before submission to President Biden for signing.
indie Semiconductor has inaugurated its new engineering center of excellence (CoE) in Dresden, Germany, enhancing local support for OEMs and Tier 1 automotive clients in the EMEA region. The facility aims to develop mixed-signal semiconductor solutions, improving vehicle electrification, driver safety, and automation.
Now employing over 30 staff, it contributes to a growing EMEA engineering team exceeding 100 engineers. This expansion aligns with the company's strategy to establish a strong presence in Europe, which accounts for 20% of global automotive production.
indie Semiconductor (Nasdaq: INDI) announced a conference call on August 11, 2022, at 5:00 p.m. Eastern time to discuss its Q2 2022 results and future outlook. The earnings press release will be issued after the market closes on the same day and can be accessed via their website. Investors can participate through the Internet or by calling designated numbers. A replay will be available from 8:00 p.m. Eastern time on August 11 until August 25. indie specializes in advanced automotive semiconductors and software platforms for the evolving Autotech industry.
indie Semiconductor (Nasdaq: INDI) has launched the iND87300, a dual-channel USB Power Delivery IC designed for in-cabin vehicle charging systems. This innovative solution reduces component count and complexity while enhancing reliability, delivering up to 60W per channel with optimized power sharing. Currently sampling, it complies with stringent AEC-Q100 Grade 1 standards and supports multiple USB configurations. High-volume production is expected to ramp up in Q1 2023, addressing the increasing demand for efficient in-vehicle charging of personal devices.
indie Semiconductor (Nasdaq: INDI) will join the Russell 2000 Index effective June 27, 2022, marking a significant milestone as the company celebrates its first anniversary as a publicly traded entity. This addition reflects indie's commitment to the growing Autotech market, aiming to broaden its investor base and enhance shareholder value. The Russell indexes, which include the 4,000 largest U.S. stocks, are benchmarks for investment strategies, with approximately $12 trillion in assets tied to them.