indie Semiconductor Q2 Earnings Call Highlights

indie Semiconductor Q2 Earnings Call Highlights

Second-quarter revenue rose 24% year over year to $64 million , exceeding the midpoint of guidance by $2 million, while the non-GAAP operating loss narrowed to $8.9 million from $14.5 million a year earlier. Growth was driven by automotive ADAS demand, particularly radar and vision products. Indie highlighted traction for its 77 GHz radar chipset, new iND880 design wins and expanding opportunities in physical-AI applications such as robotics and drones. Indie forecast third-quarter revenue of $67 million to $73 million and said its planned ams-OSRAM image-sensor acquisition and potential Wuxi indie Micro divestiture remain on track for regulatory completion by year-end.

indie Semiconductor NASDAQ: INDI reported second-quarter 2026 revenue of $64 million, up 24% from a year earlier and $2 million above the midpoint of its outlook, as growth in automotive advanced-driver-assistance systems and demand for its radar, vision and photonics products supported results. Chief Executive Officer and Co-founder Donald McClymont said the automotive semiconductor market continued to recover, citing improving vehicle production and sustained electric-vehicle demand. China remained the company’s largest end market, followed by the United States and Europe, he said.

Loss Narrows as Revenue Rises

On a non-GAAP basis, indie recorded an operating loss of $8.9 million in the second quarter, improving from a $14.5 million loss in the comparable 2025 period. Non-GAAP operating expenses were $37.9 million, in line with the company’s forecast. Including $2.8 million of net interest expense, indie posted a non-GAAP net loss of $11.7 million, or $0.05 per share, based on 227.6 million shares outstanding. The company ended the quarter with $149 million in cash, cash equivalents and restricted cash, down $35.7 million sequentially. Wu said the decline reflected the operating loss as well as inventory investments ahead of expected demand, higher accounts receivable associated with revenue growth and capital expenditures.

For the third quarter, indie forecast revenue of $67 million to $73 million. At the midpoint, the company expects core-business revenue of approximately $40 million and roughly $30 million from Wuxi indie Microelectronics. It expects non-GAAP operating expenses of about $37 million, net interest expense of approximately $3.2 million and a non-GAAP loss of about $0.04 per share, assuming 230 million shares outstanding.

Radar and Vision Programs Gain Traction

McClymont said indie’s 77 GHz radar chipset is gaining traction through a Tier 1 partner’s Gen 8 radar product. The company had previously disclosed an initial $25 million production order for the chipset and said it subsequently announced a design win with a Tier 1 supplier serving Volvo. While declining to provide the precise size or timing of the Volvo program, McClymont said Volvo’s high vehicle penetration rate for the technology makes it a “very decent sized design win.” He said radar is expected to remain a major driver of growth through 2026 and subsequent years. The company also highlighted its 120 GHz radar technology, which McClymont said can integrate antennas into the chip package and support higher spatial resolution and more precise range measurements. He said the 120 GHz solution has been evaluated by several Tie...