Indie Semiconductor reports Q3 EPS (12c), consensus (8c)

Reports Q3 revenue $60.5M, consensus $60.02M. “indie posted solid third quarter results against a challenging macroeconomic backdrop, once again well above market growth rates, driven by increasing demand for indie’s highly differentiated Autotech solutions,” said Donald McClymont, indie’s co-founder and chief executive officer. “Based on our ADAS, User Experience and Electrification design win traction, I’m pleased to report our strategic backlog has further increased to $6.3 billion, up from $4.3 billion last year and $2.6 billion in 2021. In fact, our commercial success has made indie the fastest-growing semiconductor company in the world, among 224 peers, over the past two years based on a recent assessment by Morgan Stanley. At the same time and perhaps more importantly, indie is the only semiconductor company from the 2021 IPO class that is expected to achieve non-GAAP EBITDA breakeven in the current quarter. With our world class design team, extensive product portfolio and leadership customer base including virtually every single OEM and tier one, backed by a highly scalable supply chain and augmented by successful bolt-on acquisitions, indie has never been better positioned to capitalize on the $48 billion Autotech market opportunity.”