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Sep 30, 2023
indie Semiconductor Q3 2023 Earnings Report
indie Semiconductor exceeded growth expectations in Q3 2023.
Key Takeaways
indie Semiconductor reported a record revenue of $60.5 million for Q3 2023, up 101% year-over-year and 16% sequentially. The company's non-GAAP gross margin expanded to 52.7%. Strategic backlog increased to $6.3 billion.
Q3 revenue reached $60.5 million, a 101% increase year-over-year and 16% sequentially.
Non-GAAP gross margin expanded 226 basis points year-over-year to 52.7%.
Strategic backlog increased to $6.3 billion, up from $4.3 billion last year.
Company plans to double revenue in 2023.
indie Semiconductor
indie Semiconductor
indie Semiconductor Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comContract Revenue
CapyFin.com Forward Guidance
For Q4 2023, indie Semiconductor expects revenue to be in the range of $70 million to $75 million and anticipates reaching non-GAAP EBITDA breakeven.
Positive Outlook
- Accelerating revenue growth expected in Q4 2023.
- Revenue expected to be in the $70M-$75M range.
- Sustained non-GAAP gross margin expansion expected.
- Operating expense leverage expected.
- Intend to reach non-GAAP EBITDA breakeven in the current period.
Revenue & Expenses
Visualization of income flow from segment revenue to net income