INDIE SEMICONDUCTOR INC Stock Price, News & Analysis

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.

indie Semiconductor reported a record revenue of $22.0 million for Q1 2022, marking a 171% year-over-year increase and 16% sequential growth. Non-GAAP gross margin expanded to 47.4%, exceeding prior guidance. Despite an operating loss of $34.3 million on a GAAP basis, the company anticipates strong growth, projecting a revenue run-rate exceeding $100 million in Q2 2022. With a focus on automotive megatrends, indie aims for profitability in the second half of next year, supported by strategic product developments and strong order visibility.

indie Semiconductor has appointed Chet Babla as Senior Vice President of Strategic Marketing, aimed at expanding partnerships with Tier 1 automotive customers and enhancing product development. Babla, with over 25 years of experience in the tech industry, previously led Arm’s Automotive Line of Business, focusing on automotive applications. His expertise is expected to drive indie's growth in ADAS and electrification applications, positioning the company to capitalize on advances in automotive technology.

indie Semiconductor has announced it is on track to achieve the high end of its Q1 revenue guidance due to stronger than expected orders. The company anticipates exceeding consensus estimates for both sales and non-GAAP gross margin. indie plans to file its 2021 10-K within the SEC extension window and is gearing up to report quarterly results on May 12, 2022. CEO Thomas Schiller highlighted the increasing demand for their automotive semiconductors as a key factor in these results.

indie Semiconductor announces the retirement of founder Bill Woodward and the appointment of Diane Biagianti to its board of directors. Biagianti, an experienced corporate governance and legal executive, previously served as general counsel at Glaukos Corporation. Woodward, who played a vital role in indie's early success, expressed gratitude for the journey and commitment to the company. Biagianti aims to support indie in its growth stage, focusing on automotive semiconductor innovations as the company seeks to leverage market opportunities in Autotech.