Education
About Us
Working with TipRanks
Follow Us
indie Semiconductor (INDI)
NASDAQ:INDI
Top Page
indie Semiconductor
(NASDAQ:INDI)
Rating:56Neutral
Price Target:
$5.00
▲(6.61% Upside)
Positive Factors
ADAS Market Growth
INDI's new ADAS programs are projected to be the primary catalyst for the company’s future growth, and their recent expansion into new adjacent markets is expected to create a new software licensing revenue stream.
Investment Potential
Analyst reiterates Buy rating and raises the Price Target to $8 from $6, based on improved view of ramp potential and long-term growth drivers.
Revenue and Profitability
Indie Semiconductor's differentiated technology, robust design win pipeline, and strategic positioning across global markets are set to drive significant revenue growth and gross margin expansion.
Negative Factors
Forecast Concerns
The company’s somewhat more hesitant forecast is particularly concerning considering that its major ADAS programs are yet to begin their material ramp.
Revenue Guidance
For its Q3, indie’s guidance is for revenue of $52–$56 million, with a mid-point of $54 million that was $1.8 million shy of the consensus, and its EPS outlook is for a $0.06 loss per share, which is also just short of the consensus by $0.01.
indie Semiconductor (INDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$955.49M
Dividend YieldN/A
Average Volume (3M)4.19M
Price to Earnings (P/E)―
Beta (1Y)3.00
Revenue Growth-7.49%
EPS Growth-64.33%
CountryUS
Employees920
SectorTechnology
Sector Strength94
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.08
Shares Outstanding198,552,060
10 Day Avg. Volume4,519,153
30 Day Avg. Volume4,193,255
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue4.07
Enterprise Value/Gross Profit9.91
Enterprise Value/Ebitda-8.05
Forecast
1Y Price Target
$6.25Price Target Upside33.26% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
indie Semiconductor Business Overview & Revenue Model
Company Descriptionindie Semiconductor, Inc. provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets. The company was incorporated in 2007 and is headquartered in Aliso Viejo, California.
How the Company Makes Moneyindie Semiconductor generates revenue primarily through the sale of its semiconductor products, including its system-on-chip solutions, which are supplied to original equipment manufacturers (OEMs) and tier-one suppliers in the automotive industry. The company earns money by licensing its technology and providing custom design services for specific client needs. Significant partnerships with automotive industry leaders and continuous investment in research and development contribute to its ability to offer cutting-edge solutions, further driving its revenue growth.
indie Semiconductor Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q2-2025)
| % Change Since: 22.77%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with multiple strategic achievements in ADAS, quantum, and robotics, despite facing some financial and market challenges. Revenue exceeded expectations, and significant progress was made in product development and strategic acquisitions.Q2-2025 Updates
Positive Updates
Revenue Exceeds Expectations
Indie Semiconductor achieved total revenue of $51.6 million in Q2 2025, above the midpoint of their outlook.
Strong ADAS Momentum
The company reported strong momentum in ADAS, with significant investments in radar and vision programs, and multiple design wins poised to begin production in late 2025 and through 2026.
Vision Portfolio Success
The iND880 processor is set to enter production at a leading Chinese OEM for a camera monitoring system within a year of sampling, demonstrating rapid design-to-production cycles.
Expansion into Quantum and Robotics
Indie secured design wins in quantum communications with their LXM-U laser, which offers a 10x noise improvement, and their iND880-powered cameras are being used in humanoid robots.
Improved Financial Efficiency
The company reported a non-GAAP operating loss of $14.5 million, an improvement from $17.2 million a year ago, and achieved cash usage efficiencies.
Strategic Acquisition of emotion3D
Indie announced the acquisition of emotion3D, a leader in perception software, to enhance their ADAS product range and generate software royalties.
Negative Updates
Cash Position Decline
The company’s total cash, including restricted cash, declined from $246.9 million in Q1 to $202.9 million in Q2 2025.
Restructuring Costs
$1.3 million of cash was used for restructuring measures during the quarter.
Ongoing Macroeconomic Uncertainties
Indie faced challenging automotive market conditions and macroeconomic uncertainties, impacting OEM decision-making.
Company Guidance
During the second quarter of 2025, indie Semiconductor reported total revenue of $51.6 million, surpassing the midpoint of their outlook, with a non-GAAP gross margin of 49.1%. Non-GAAP operating expenses were $39.9 million, resulting in a non-GAAP operating loss of $14.5 million, an improvement from the $17.2 million loss a year ago. The company recorded a net interest expense of $1.6 million, leading to a net loss of $16.2 million, or $0.08 per share, based on 215.3 million shares. Indie exited the quarter with $202.9 million in total cash, following a repurchase of $30 million in convertible notes and restructuring efforts. For Q3 2025, indie expects revenue between $52 million and $56 million, with a non-GAAP gross margin of 49% to 50% and reduced operating expenses of approximately $38 million. The company anticipates a net loss of $0.06 per share on 219.1 million shares. Indie also announced the acquisition of emotion3D for $20 million, with an additional $10 million earn-out potential, aimed at boosting their vision processor software capabilities.indie Semiconductor Financial Statement Overview
Summary
Indie Semiconductor shows strong revenue growth but struggles with profitability and cash flow. The balance sheet is stable with a strong cash position, yet operational inefficiencies and cash flow management need improvement.Income Statement
The company exhibits a significant growth in revenue over recent years, but profitability remains a challenge with persistent negative net income and EBIT margins. The gross profit margin is stable but below industry averages, indicating room for operational improvement.45
Neutral
Balance Sheet
The balance sheet shows a strong cash position with substantial cash and short-term investments relative to total debt, leading to a negative net debt. However, the debt-to-equity ratio is moderately high, suggesting reliance on leverage. The equity ratio is solid, indicating a stable financial structure.55
Neutral
Cash Flow
Free cash flow is consistently negative, reflecting ongoing challenges in generating cash from operations. The operating cash flow to net income ratio indicates cash flow issues relative to reported earnings, though financing activities are supporting liquidity.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 217.69M | 216.68M | 223.17M | 110.80M | 48.41M | 22.61M |
| Gross Profit | 89.42M | 90.31M | 89.56M | 50.31M | 19.71M | 9.57M |
| EBITDA | -110.12M | -93.94M | -90.16M | -35.37M | -111.73M | -93.49M |
| Net Income | -155.85M | -132.60M | -117.63M | -43.40M | -88.04M | -97.50M |
Balance Sheet | ||||||
| Total Assets | 867.63M | 941.39M | 818.88M | 600.89M | 470.13M | 35.13M |
| Cash, Cash Equivalents and Short-Term Investments | 192.56M | 274.25M | 151.68M | 321.63M | 219.08M | 18.70M |
| Total Debt | 27.52M | 398.58M | 174.34M | 183.47M | 7.89M | 20.83M |
| Total Liabilities | 452.53M | 495.99M | 341.85M | 293.53M | 178.91M | 136.62M |
| Stockholders Equity | 415.10M | 417.89M | 446.15M | 306.71M | 313.05M | -110.31M |
Cash Flow | ||||||
| Free Cash Flow | -75.07M | -72.94M | -117.14M | -84.31M | -59.89M | -21.99M |
| Operating Cash Flow | -55.00M | -58.60M | -104.39M | -76.75M | -55.82M | -21.22M |
| Investing Cash Flow | -18.47M | -19.26M | -107.74M | -16.27M | -84.33M | -771.00K |
| Financing Cash Flow | 168.82M | 209.33M | 43.57M | 192.66M | 340.65M | 33.47M |
indie Semiconductor Technical Analysis
Positive
4.69
Price Trends
3.78
Positive
2.99
Positive
3.46
Positive
Market Momentum
0.15
Negative
63.89
Neutral
93.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDI, the sentiment is Positive. The current price of 4.69 is above the 20-day moving average (MA) of 4.15, above the 50-day MA of 3.78, and above the 200-day MA of 3.46, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 63.89 is Neutral, neither overbought nor oversold. The STOCH value of 93.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INDI.
indie Semiconductor Risk Analysis
indie Semiconductor disclosed 61 risk factors in its most recent earnings report. indie Semiconductor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
indie Semiconductor Peers Comparison
Overall Rating
UnderperformOutperform
Sector (50)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $644.86M | 131.24 | 0.66% | 5.01% | 0.15% | -92.08% | |
61 Neutral | $1.31B | ― | -20.63% | ― | 9.79% | 10.28% | |
58 Neutral | $568.96M | ― | -34.11% | ― | -10.53% | 36.86% | |
56 Neutral | $955.49M | ― | -36.20% | ― | -7.49% | -64.33% | |
55 Neutral | $1.55B | ― | -32.05% | ― | -25.65% | -130.95% | |
50 Neutral | C$3.52B | 0.35 | -5.03% | 7.64% | 17.01% | -2.22% | |
40 Underperform | $202.31M | ― | -180.49% | ― | -9.62% | -30.36% |
* Technology Sector Average
Performance Comparison
INDI
indie Semiconductor
4.69
0.54
13.01%
IMOS
ChipMOS Technologies
16.40
-5.92
-26.52%
WOLF
Wolfspeed
1.30
-10.88
-89.33%
LASR
nLIGHT
26.25
14.63
125.90%
NVTS
Navitas Semiconductor
7.25
4.15
133.87%
SKYT
SkyWater Technology
11.81
1.72
17.05%
indie Semiconductor Corporate Events
Business Operations and StrategyFinancial Disclosures
Indie Semiconductor Exceeds Q3 Revenue Expectations
Positive
Nov 7, 2024
Indie Semiconductor showcases robust growth by surpassing Q3 2024 revenue forecasts with a 3.1% increase to $54 million and a strategic backlog expansion to $7.1 billion, driven by advanced driver-assistance systems (ADAS) design wins. Looking forward, indie anticipates over 7% revenue growth in Q4, fueled by strong demand for radar and vision products, positioning the company for continued success in the automotive semiconductor industry.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.