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Dec 31, 2022
indie Semiconductor Q4 2022 Earnings Report
Achieved record Q4 and 2022 results.
Key Takeaways
indie Semiconductor reported a record fourth-quarter revenue of $33.0 million, up 74% year-over-year, and a non-GAAP gross margin of 52.2%, up 590 basis points year-over-year.
Q4 Revenue was $33.0M, up 74% Year-over-Year and 10% sequentially.
Q4 Non-GAAP Gross Margin expanded to 52.2%, up 590 Basis Points Year-over-Year and 180 Basis Points Sequentially.
2022 Revenue reached $110.8M, up 129% Year-over-Year.
Design win pipeline was broadened across ADAS, User Experience and EV Applications.
indie Semiconductor
indie Semiconductor
Forward Guidance
For Q1 2023, the company plans to scale to a $160 million annualized revenue run-rate, including a stub portion of GEO revenue, with non-GAAP gross margin in the 52 percent range. The company believes that the combination of indie’s top line trajectory, gross margin expansion and operating expense leverage will yield profitability in the back half of this year.
Positive Outlook
- Expects accelerating sales growth throughout 2023.
- Plans to scale to a $160 million annualized revenue run-rate in Q1 2023.
- Expects non-GAAP gross margin in the 52 percent range for Q1 2023.
- Believes profitability will be achieved in the back half of 2023.
- Combination of top line trajectory, gross margin expansion and operating expense leverage will contribute to profitability.