NASDAQ$INDI
indie Semiconductor Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a 29% year-over-year revenue increase to $52.4M with a non-GAAP gross margin of 50.3%.
indie Semiconductor reported a 29% year-over-year increase in revenue, reaching $52.4 million for Q1 2024. The company's non-GAAP gross margin was 50.3%. Despite automotive market contraction, indie exceeded industry peer growth, driven by Autotech market momentum. The company anticipates a return to high growth in the second half of the year, fueled by new product ramps and key vehicle launches.
- indie Semiconductor's Q1 revenue increased 29% year-over-year to $52.4 million.
- Non-GAAP gross margin was 50.3% for Q1 2024.
- The company is ramping up Occupant Monitoring System (OMS) solutions for BMW and enabled Cadillac Escalade Augmented Reality (AR) navigational systems.
- Q2 2024 revenue is expected to be flat to up 5% sequentially with non-GAAP gross margin expansion.
Headline financials
Revenue & EPS history
indie Semiconductor · Revenue · Quarterly
$52.4M
Revenue by segment
indie Semiconductor · $60.5M total across 2 segments · Q3 2023
- Product Revenue$53.4M+118.5%88.2%
- Contract Revenue$7.11M+27.2%11.8%
Forward guidance
For Q2 2024, indie Semiconductor expects revenue to be flat to up 5% sequentially. Gross margin is projected to expand to the 51 to 52 percent range.
Tailwinds
- Revenue expected to be flat to up 5% sequentially.
- Gross margin expansion to the 51 to 52 percent range.
- Richer product mix anticipated.
- Flat expenses expected.
- Narrower operating loss on a sequential basis expected.
Headwinds
- Ongoing industry-wide inventory rebalancing causing market softness.
- Certain information necessary to reconcile non-GAAP results and guidance to GAAP is difficult to estimate.
- Reconciliation is dependent on future events outside of their control.
- Reconciliation is not available without unreasonable efforts.
- Forward-looking estimates of both GAAP and non-GAAP measures of our financial performance may differ materially from our actual results and should not be relied upon as statements of fact.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+5.9%
Avg return
Earnings day
+5.8%
Avg return
5 days after
+6.6%
Avg return
30 days after
58%
14 / 24 earnings
Positive
+57.0%
Q3 2024
Best reaction
-16.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.9% | +0.2% | -10.4% | |
| Q4 2025 | +5.8% | +5.0% | -25.4% | |
| Q3 2025 | +0.9% | -8.4% | -0.9% | |
| Q1 2025 | +1.5% | +2.3% | +31.1% | |
| Q3 2024 | +57.0% | +36.1% | +22.9% | |
| Q2 2024 | -5.2% | -12.9% | -24.7% | |
| Q1 2024 | -1.0% | +3.3% | +27.7% | |
| Q4 2023 | -16.0% | -11.9% | -12.2% | |
| Q3 2023 | +11.5% | +29.4% | +53.2% | |
| Q2 2023 | -8.2% | -11.0% | -20.0% | |
| Q1 2023 | +4.8% | +6.9% | +26.3% | |
| Q4 2022 | +4.1% | +2.7% | +6.2% | |
| Q3 2022 | +23.5% | +16.8% | -5.5% | |
| Q2 2022 | +5.5% | +5.5% | +11.7% | |
| Q1 2021 | +26.9% | +24.8% | +28.0% | |
| Q1 2022 | +30.2% | +32.6% | +29.6% | |
| Q4 2021 | -6.2% | -1.5% | -3.9% | |
| Q3 2020 | +15.6% | +16.5% | -11.8% | |
| Q3 2021 | +6.0% | +22.5% | -6.5% | |
| Q2 2020 | -3.6% | -5.8% | +17.9% | |
| Q4 2020 | -3.6% | -5.8% | +17.9% | |
| Q2 2021 | -4.2% | -7.9% | +5.9% | |
| Q1 2020 | +0.6% | -0.1% | +0.8% | |
| Q4 2019 | -0.1% | -0.1% | +0.4% |
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