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Mar 31, 2024
indie Semiconductor Q4 2024 Earnings Report
indie Semiconductor reported its fourth quarter 2024 earnings, showing sequential revenue growth and a strong non-GAAP gross margin despite a challenging automotive market.
Key Takeaways
indie Semiconductor announced fourth quarter 2024 revenue of $58.0 million, a 7.5% sequential increase, with a non-GAAP gross margin of 50.4%. The company reported a GAAP loss per share of $0.18 and a non-GAAP loss per share of $0.07.
Fourth quarter 2024 revenue reached $58.0 million, marking a 7.5% sequential increase.
Non-GAAP gross margin remained strong at 50.4% in Q4 2024.
The company reported a GAAP operating loss of $33.9 million and a non-GAAP operating loss of $14.2 million for Q4 2024.
Key ADAS programs are on track for initial volume shipments in the second half of 2025, and new design wins for Vision processors were secured.
indie Semiconductor
indie Semiconductor
indie Semiconductor Revenue by Segment
indie Semiconductor Revenue by Geographic Location
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Product Revenue
CapyFin.comContract Revenue
CapyFin.comRevenue by Geographic Location
Global Revenue
CapyFin.com Forward Guidance
For Q1 2025, indie expects revenue between $52.5 million and $57.5 million, with a mid-point of $55 million, representing a 5.2% sequential decrease but a 5.1% year-over-year increase. Non-GAAP gross margin is projected to be between 49% and 50%.
Positive Outlook
- Prospects for indie remain positive throughout 2025.
- Strong design win momentum continues.
- Key program status underpins future growth.
- Multiple new products are expected to ramp throughout 2025.
- Year-over-year revenue is expected to increase by 5.1% in Q1 2025.
Challenges Ahead
- Challenging automotive market environment persists.
- Increased market uncertainty is noted.
- Slower than anticipated production ramps are expected for Q1 2025.
- Sequential revenue is projected to decrease by 5.2% in Q1 2025.
- Non-GAAP gross margin is expected to slightly decrease to 49-50% from 50.4% in Q4 2024.