Shulou(Shulou.com)11/24 Report--

On August 11, Indie Semiconductor announced its second quarter results for the year ended June 30, 2022.

According to the report, second-quarter revenue reached a record $25.8 million, up 181% year-on-year and 17% quarter-on-quarter, at the high end of the company's previous forecast range and exceeding analysts 'consensus expectations.

On a non-GAAP basis, the company's gross margin was 48.6 percent, up 650 basis points year-over-year and 120 basis points quarter-over-quarter, above the company's forecast of 48.0 percent for the quarter. Under GAAP, operating loss for the second quarter of 2022 was $30 million, compared to $18.5 million in the same period last year. This reflects increased customer-driven investment in R & D and marketing as well as increased infrastructure costs for listed companies.

Donald McClymont, co-founder and CEO of Indie, said:"The company exceeded revenue and profit expectations for the second quarter due to increasing global demand for our differentiated Autotech portfolio, coupled with clear operational execution. At a higher level, we achieved design victories in ADAS, electrification, and user experience applications. Our R & D investments, combined with successful acquisitions, have resulted in unprecedented levels of semiconductor and software integration, including lidar, radar, ultrasound and computer vision sensor models, as well as critical electric vehicles and advanced lighting solutions. In short, we are focused on capturing a disproportionate share of the nearly $50 billion Autotech market. "

Thomas Schiller, Chief Financial Officer and Executive Vice President of Strategy at Indie, said:"Based on strong order visibility and customer numbers for our new products, we expect to continue to outperform Indie's target markets by a significant margin. Specifically, in the third quarter of 2022, we expect revenue growth of approximately 140% to 150% year-over-year, midpoint annualized revenue growth of approximately $120 million, and non-GAAP gross margin expansion into the 50% range. In addition, given the depth of our winning channel design, demonstrated scalability and planned operating leverage, we are on track to be profitable in the second half of next year, marking another critical step towards our goal of achieving gross margins of 60% and operating margins of 30%. "

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