Earnings And GuidanceINDI delivered a disappointing 2Q/3Q report/guide, with 2Q/3Q revs missing DBe by -2%/-23% respectively due to persistent auto sector demand weakness & inventory burn.
Financial PerformanceINDI's shares significantly underperforming its peers, down 56% just since its recent July highs, and its stock being particularly weak over the past two weeks since earnings.
Industry ChallengesThe company's softer-than-expected numbers were consistent with leading Tier-1 channel partners, who cut their revenue estimates due to reduced full year vehicle production forecasts.