indie Semiconductor Q3 2022 Earnings Report
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
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