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Indie Semiconductor Reports Strong Q2 Results

indie Semiconductor, Inc. (NASDAQ:INDI) reported its Q2 results, with EPS of ($0.04) coming in better than the Street estimate of ($0.12). Revenue was $25.8 million, compared to the Street estimate of $25.56 million.
The company’s near-term strength in execution (H1/22 revenues up 176% year-over-year despite Auto industry sales down 17% year-over-year for the same period) continues to be driven by market share expansion resulting from a strong product portfolio (ADAS, user experience, electrification) and outstanding supply-chain management.
According to the analysts at Deutsche Bank, the company’s solid execution in addition to continued positive developments has helped bolster confidence regarding the attainability of its long-term plan (profitability in H2/23, 60%/30% gross margin/operating margin by 2025). In addition, the company’s growth and increased profitability (gross margin increased 120bps quarter-over-quarter in Q2) indicate that it remains well positioned to profitably address a wide array of secular growth trends within the AutoTech sector as it continues to roll towards H2/23 profitability.

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