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Jun 30, 2024
indie Semiconductor Q2 2024 Earnings Report
indie Semiconductor's Q2 2024 financial performance remained consistent with the prior year, achieving revenue of $52.4 million and a Non-GAAP gross margin of 50.3%.
Key Takeaways
indie Semiconductor reported second-quarter revenue of $52.4 million, which was flat compared to the prior year. The company's Non-GAAP gross margin was 50.3%. The company anticipates a return to revenue growth in the second half of 2024 and expects revenue to increase by 2.5% sequentially in Q3 2024.
Q2 2024 revenue was $52.4 million, aligning with the outlook range, and Non-GAAP gross margin was 50.3%.
Q3 2024 revenue is guided to increase by 2.5% sequentially at the midpoint.
Radar and Vision programs at key customers are on track for a 2025 revenue ramp.
Continued design win success across the portfolio at Global Automotive OEMs.
indie Semiconductor
indie Semiconductor
Forward Guidance
For the third quarter of 2024, indie expects revenue to increase within the range of zero to 5 percent, or 2.5 percent at the midpoint, and expects to achieve gross margins of approximately 50 percent.
Positive Outlook
- Revenue expected to increase within the range of zero to 5 percent, or 2.5 percent at the midpoint
- Gross margins of approximately 50 percent
- Return to industry-leading growth trajectory in 2025 and beyond
- Production ramp plans for Radar and Vision programs
- Outpacing the projected Automotive industry performance