indie Semiconductor beats Q1 expectations: revenue $40.5M, up 84% YoY; Q2 guidance up 102% YoY

indie Semiconductor, Inc.

2023-Q1 EPS reported -$0.55 revenue$40,452,000

Revenue $40.5M, up 84% YoY and 22% sequentially, ahead of guidance and consensus.
Non-GAAP gross margin 52.2%, up 484 bps YoY, also above analyst expectations.
GAAP operating loss $37.0M vs $34.3M a year ago; non-GAAP operating loss $16.8M vs $16.5M.
Q2 2023 revenue guidance up 102% YoY and 28% sequentially, implying >$200M annualized run-rate.
Business highlights: ADAS design win at GM with Sharp Japan; design wins at BYD, Nio, Li Auto; closed acquisitions of GEO Semiconductor and Silicon Radar.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

indie Semiconductor, Inc. reported the first quarter ended March 31, 2023 results: revenue $40.5 million.

Period: the first quarter ended March 31, 2023
Revenue: $40.5 million
Result: reported results

Exact text from the filing

first quarter results for the period ended March 31, 2023. First quarter revenue was up 84 percent from the same period a year ago and 22 percent sequentially to a record $40.5 million, ahead of indie’s guidance and consensus estimates. Non-GAAP gross margin expanded 484 basis points year-over-year to 52.2 percent and was also better than analyst expectations.

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Source: SEC EDGAR

accession 0001628280-23-017607

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