NASDAQ$INDI
indie Semiconductor Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
indie Semiconductor exceeded Q2 2023 growth expectations.
indie Semiconductor reported Q2 revenue of $52.1 million, a 102% increase year-over-year and a 29% increase sequentially. The company's non-GAAP gross margin expanded to 52.2%. They anticipate achieving non-GAAP operating income in Q4.
- Q2 revenue reached $52.1M, up 102% YoY and 29% sequentially.
- Non-GAAP gross margin expanded 363 basis points YoY to 52.2%.
- Secured a large program win at Bosch.
- Company guides Q3 2023 revenue up 100% YoY and 15% sequentially, reaching a $240M annualized run-rate.
Headline financials
Revenue & EPS history
indie Semiconductor · Revenue · Quarterly
$52.1M
Revenue by segment
indie Semiconductor · $52.1M total across 2 segments · Q2 2023
- Product Revenue$45.5M+122.3%87.2%
- Contract Revenue$6.65M+25.5%12.8%
Forward guidance
For Q3 2023, indie Semiconductor anticipates scaling into a $240 million annualized revenue run-rate, reflecting a 100% year-over-year increase and a 15% sequential increase. The company expects further non-GAAP gross margin improvement, leading to a narrower operating loss. They remain on track to achieve non-GAAP operating income in the fourth quarter of this year.
Tailwinds
- Strong order flow
- Deep design win pipeline
- Continue to deliver outsized top line growth
- Targeting 60% gross margin
- Targeting 30% operating margin
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 Q2 2023
+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% |
Discussion
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