indie Semiconductor, Inc. INDI
Headquartered in Aliso Viejo, CA, indie is empowering the automotive revolution with next generation semiconductors, photonics and software platforms. We focus on developing innovative, high-performance and energy-efficient mixed-signal system-on-chips ("SoCs") and system solutions for advanced driver assistance systems ("ADAS") in addition to adjacent industrial applications. Our sensors span all major modalities, including Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded system control, power management, and interfacing solutions are accelerating the proliferation of automated vehicle safety features.
Through innovative analog, digital and mixed-signal integrated circuits ("ICs") with software running on the embedded processors, we are developing a differentiated, market-leading portfolio of automotive products. Our technological expertise, including cutting-edge design capabilities and packaging expertise, together with our deep application knowledge and strong customer relationships, has enabled us to ship over 550 million semiconductor devices since our inception.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $217.4M | $216.7M | $223.2M | $110.8M | $48.4M | $22.6M | — |
| Cost of revenue | $130.8M | $126.4M | $133.6M | $60.5M | $28.7M | $13.0M | — |
| Gross profit | $86.6M | $90.3M | $89.6M | $50.3M | $19.7M | $9.6M | — |
| R&D | $154.1M | $175.1M | $154.5M | $121.2M | $58.1M | $22.0M | — |
| SG&A | $77.7M | $80.9M | $70.5M | $48.2M | $36.4M | $6.8M | — |
| Total operating expenses | $371.6M | $386.8M | $358.6M | $229.9M | $123.2M | $41.9M | — |
| Operating income | -$154.2M | -$170.1M | -$135.4M | -$119.1M | -$74.8M | -$19.2M | — |
| Interest expense | $17.6M | $9.3M | $8.7M | $1.7M | $1.2M | $2.2M | — |
| Pre-tax income | -$153.7M | -$146.1M | -$133.4M | -$53.8M | -$118.9M | -$98.3M | — |
| Income tax | $3.0M | $1.9M | $4.5M | $1.0M | $327.0K | $29.0K | — |
| Net income | -$150.7M | -$144.2M | -$128.8M | -$52.8M | -$118.6M | -$97.5M | — |
| EPS, basic | -0.73 | -0.76 | -0.81 | -0.37 | -1.26 | -3.12 | — |
| EPS, diluted | -0.73 | -0.76 | -0.81 | -0.37 | -1.26 | -3.12 | — |
| Shares, diluted (wtd. avg.) | $197.2M | $175.0M | $145.2M | $118.7M | $70.0M | $31.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $145.5M | $274.2M | $151.7M | $321.9M | $219.5M | $18.7M | $7.2M |
| Receivables | $57.5M | $52.0M | $63.6M | $26.4M | $13.8M | $5.9M | — |
| Inventory | $48.6M | $49.9M | $33.1M | $13.3M | $9.1M | $2.9M | — |
| Total current assets | $285.8M | $408.7M | $271.8M | $373.9M | $248.0M | $30.0M | — |
| Property, plant and equipment | $43.3M | $34.3M | $27.0M | $15.8M | $11.1M | $2.2M | — |
| Goodwill | $292.6M | $266.4M | $295.1M | $136.5M | $113.6M | $1.7M | — |
| Other intangibles | $195.9M | $208.9M | $208.1M | $63.1M | $96.3M | $1.1M | — |
| Total assets | $840.8M | $941.4M | $818.9M | $603.4M | $469.3M | $35.1M | — |
| Accounts payable | $21.8M | $28.3M | $18.4M | $14.2M | $5.4M | $4.6M | — |
| Short-term debt | $13.6M | $12.2M | $4.1M | $15.7M | $2.3M | $8.5M | — |
| Total current liabilities | $76.5M | $84.9M | $138.9M | $64.0M | $33.7M | $122.2M | — |
| Long-term debt | $339.8M | $369.1M | $156.7M | $155.7M | $5.6M | $12.3M | — |
| Total liabilities | $456.8M | $496.0M | $341.9M | $289.0M | $177.4M | $136.6M | — |
| Retained earnings | -$637.1M | -$494.0M | -$361.4M | -$243.8M | -$200.4M | -$153.3M | — |
| Total equity | $358.0M | $417.9M | $477.0M | $314.3M | $291.9M | -$101.5M | -$10.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$57.1M | -$58.6M | -$104.4M | -$76.7M | -$55.8M | -$21.2M | — |
| Stock-based compensation | $65.1M | $67.2M | $43.7M | $41.9M | $22.9M | $0 | — |
| Capital expenditure | $14.3M | $14.3M | $12.8M | $7.6M | $2.7M | $637.0K | — |
| Investing cash flow | -$32.0M | -$19.3M | -$107.7M | -$16.3M | -$84.3M | -$771.0K | — |
| Financing cash flow | -$38.9M | $209.3M | $43.6M | $192.7M | $340.6M | $33.5M | — |
| Buybacks | — | $0 | $0 | $7.4M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-161644.
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