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Sep 30, 2022
indie Semiconductor Q3 2022 Earnings Report
indie Semiconductor exceeded bottom line expectations for Q3 2022.
Key Takeaways
indie Semiconductor reported record third quarter revenue of $30.0 million, a 147% increase year-over-year and a 17% increase sequentially. Non-GAAP gross margin expanded to 50.4%. The strategic backlog grew to $4.3 billion.
Revenue reached a record $30.0 million, up 147% year-over-year and 17% sequentially.
Non-GAAP gross margin expanded to 50.4%, up 740 basis points year-over-year and 180 basis points sequentially.
Strategic backlog increased to $4.3 billion, up from $2.6 billion last year.
The company commenced volume production of an automotive USB-PD programmable controller Power SoC.
indie Semiconductor
indie Semiconductor
indie Semiconductor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comContract Revenue
CapyFin.com Forward Guidance
For the fourth quarter of 2022, indie Semiconductor anticipates sales growth to an approximately $132 million annualized revenue run-rate with non-GAAP gross margin expansion into the 51 percent range. The company is on track to reach profitability in the second half of next year.
Positive Outlook
- Sales growth to an approximately $132 million annualized revenue run-rate is expected.
- Non-GAAP gross margin expansion into the 51 percent range is anticipated.
- Company expects to maintain outsized top line growth.
- Company expects to further expand gross margin.
- Company is on track to reach profitability in the second half of next year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income