INDIE SEMICONDUCTOR INC Stock Price, News & Analysis

indie Semiconductor (Nasdaq: INDI) has launched its first system-on-chip (SoC), the iND83080, designed for external automotive lighting. This integrated LED matrix controller enhances pixel-level control for adaptive driving beam (ADB) and dynamic turn signal applications, reducing component requirements and costs. It is currently being sampled to customers, with high-volume production expected to ramp up in Q2 2023. The SoC is aimed at improving vehicle safety and user experience, reflecting a significant expansion of indie's automotive product portfolio.

indie Semiconductor, Inc. (NASDAQ: INDI) has priced an offering of $140 million in 4.500% Convertible Senior Notes due 2027, originally targeted at $125 million, to meet high investor demand. The offering will close on November 21, 2022, with an option for purchasers to buy an additional $20 million. The net proceeds are estimated at $135 million and will be used for share repurchases and general corporate purposes. The notes are convertible into cash or shares at an initial conversion price of $8.65, representing a 30% premium over the last sale price of $6.655.

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.