NASDAQ$INDI
indie Semiconductor Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
indie Semiconductor exceeded growth expectations in Q3 2023.
indie Semiconductor reported a record revenue of $60.5 million for Q3 2023, up 101% year-over-year and 16% sequentially. The company's non-GAAP gross margin expanded to 52.7%. Strategic backlog increased to $6.3 billion.
- Q3 revenue reached $60.5 million, a 101% increase year-over-year and 16% sequentially.
- Non-GAAP gross margin expanded 226 basis points year-over-year to 52.7%.
- Strategic backlog increased to $6.3 billion, up from $4.3 billion last year.
- Company plans to double revenue in 2023.
Headline financials
Revenue & EPS history
indie Semiconductor · Revenue · Quarterly
$60.5M
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 Q4 2023, indie Semiconductor expects revenue to be in the range of $70 million to $75 million and anticipates reaching non-GAAP EBITDA breakeven.
Tailwinds
- Accelerating revenue growth expected in Q4 2023.
- Revenue expected to be in the $70M-$75M range.
- Sustained non-GAAP gross margin expansion expected.
- Operating expense leverage expected.
- Intend to reach non-GAAP EBITDA breakeven in the current period.
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 Q3 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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