NASDAQ$INDI
indie Semiconductor Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
indie Semiconductor achieved record fourth quarter and 2023 results.
indie Semiconductor reported a record fourth-quarter revenue of $70.1 million, up 112% year-over-year, with a non-GAAP gross margin of 52.7%. The company's GAAP operating loss was $20.6 million, while the non-GAAP operating loss was $2.4 million.
- Q4 Revenue reached $70.1M, showing a 112% increase year-over-year and 16% sequentially.
- Q4 Non-GAAP Gross Margin expanded to 52.7%, a 50 basis points increase year-over-year.
- GAAP operating loss for Q4 2023 was $20.6 million, improving from $29.0 million a year ago.
- Non-GAAP loss per share was $0.01, consistent with guidance and consensus estimates.
Headline financials
Revenue & EPS history
indie Semiconductor · Revenue · Quarterly
$70.1M
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 the first quarter of 2024, indie expects revenue to be up 38 percent year-over-year but down 20 percent sequentially. The company anticipates Q1 to be a trough quarter with top line recovery in Q2 and a resumption of outsized sequential growth in Q3 and Q4, yielding a profitability baseline in the second half of this year.
Tailwinds
- Revenue expected to be up 38% year-over-year in Q1 2024.
- Top line recovery anticipated in Q2 2024.
- Resumption of outsized sequential growth expected in Q3 and Q4 2024.
- Profitability baseline expected in the second half of 2024.
- Significant Radar and Vision ramps in 2025.
Headwinds
- Revenue expected to be down 20% sequentially in Q1 2024.
- Market seasonality impacting Q1 2024.
- Current industry softness affecting Q1 2024.
- Automotive end market weakness.
- Industry-wide inventory correction.
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 Q4 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% |
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