INDIE SEMICONDUCTOR INC Stock Price, News & Analysis

indie Semiconductor (Nasdaq: INDI) has announced the granting of equity awards under its 2023 Inducement Incentive Plan to new employees linked to the recent acquisitions of GEO Semiconductor, Inc. and Silicon Radar GmbH. The Compensation Committee of the Board of Directors approved these Inducement Grants. This move is designed to attract and retain key talent essential for indie’s growth in the automotive semiconductor sector, focusing on advanced technologies such as ADAS and electrification.

indie Semiconductor continues to innovate high-performance, energy-efficient solutions and is an approved vendor for major Tier 1 automotive partners worldwide. The company aims to enhance in-cabin experiences while supporting the shift towards automated and electrified vehicles.

indie Semiconductor (Nasdaq: INDI), an innovator in Autotech solutions, plans to hold a conference call on May 11, 2023, at 5:00 p.m. Eastern time to discuss its first quarter 2023 results and business outlook. The earnings press release will be published after market close on the same day and will be accessible via Business Wire and the company's website. Investors can listen to the call by Internet or telephone, using the provided details. A replay will be available from 9:00 p.m. Eastern time on May 11 until 11:59 p.m. Eastern time on May 25, 2023. indie focuses on developing advanced automotive semiconductors and software for applications including ADAS and electrification, partnering with Tier 1 automotive suppliers and OEMs worldwide.

Eyeris Technologies and indie Semiconductor announced a collaboration to integrate Eyeris' monocular 3D sensing AI software with indie's intelligent vision processor. This integration aims to develop advanced in-cabin monitoring solutions for automotive OEMs and Tier-1 manufacturers, enhancing safety and comfort. The technology utilizes a single automotive-grade 2D image sensor to accurately generate in-cabin depth information, improving features like airbag deployment. The partnership allows for the creation of safer airbags and other restraint systems, while indie's processor provides high performance, low power consumption, and a dedicated safety domain controller.

indie Semiconductor has acquired Silicon Radar GmbH, enhancing its automotive radar technology and capabilities. This acquisition, featuring the industry’s first production-ready 120 GHz solution, complements indie's previous purchases of Analog Devices’ and ON Semi’s radar divisions. The deal will allow indie to innovate in integrated radar systems, critical for advanced driver assistance systems (ADAS), addressing the growing demand for high-frequency operation and low power consumption. The radar market is projected to expand from 138 million units in 2023 to 293 million by 2028, presenting a lucrative $6 billion opportunity for radar semiconductors.

indie Semiconductor reported a Q4 2022 revenue of $33.0 million, a 74% increase year-over-year and 10% sequentially, slightly exceeding expectations. The company achieved a non-GAAP gross margin of 52.2%, up 590 basis points year-over-year. For the full year, revenue reached $110.8 million, a 129% increase from 2021. Despite an operating loss of $28.0 million in Q4, the firm aims for a $160 million annualized revenue run-rate in Q1 2023, with projected profitability in the second half of 2023. The company is expanding its design win pipeline in the ADAS and electrification markets, supported by recent investment initiatives.