Core Viewpoint - Indie Semiconductor is experiencing a significant decline in stock price due to the announcement of a new convertible debt offering, which raises concerns about potential dilution for existing shareholders [1][4]. Group 1: Convertible Debt Offering - The company plans to sell up to $175 million in convertible senior debt notes in a private offering, with an option for an additional $26.25 million [2]. - The notes are set to mature on December 15, 2029, with provisions for cash redemption starting December 20, 2027 [2]. Group 2: Impact on Shareholders - If the stock performs well, holders of the convertible notes may convert them into shares, leading to an estimated 24% increase in shares outstanding based on the current market cap of approximately $852 million [3][4]. - The stock has already seen a substantial pullback in response to the debt offering, which may mitigate further concerns about conversion into common stock [4]. Group 3: Financial Health and Future Prospects - The move to raise capital through convertible debt highlights the company's profitability and funding concerns, indicating that the effectiveness of fund utilization will be crucial for long-term shareholders [5].

Core Viewpoint - indie Semiconductor has faced significant challenges in 2024, with shares down 43% year-to-date, yet analysts maintain a bullish outlook with an average price target of $8 per share, indicating a potential 72% upside from current levels [1][5]. Company Overview - indie Semiconductor specializes in designing chips and software for Advanced Driver Assistance Systems (ADAS), essential for the development of autonomous driving technology [3]. - The company's chips, known as edge sensors, are crucial for real-time data processing in vehicles, enabling immediate decision-making to enhance safety [4]. Financial Performance - Despite a challenging environment, indie Semiconductor's shares rose nearly 36% following its earnings report on November 7, indicating positive momentum [2]. - The company has revised its 2024 revenue forecast downward, expecting a 3% decline compared to an initial projection of 29% growth. However, it anticipates a 7% revenue growth in Q4 compared to Q3, which is a significant improvement over previous quarters [5][6]. - The adjusted gross margin improved by 250 basis points to 52.5% in 2023, although the company remains unprofitable, with a net loss per share of $0.01 in Q4 2023 and $0.09 in the last quarter [6]. Market Position and Future Outlook - indie Semiconductor has a substantial backlog of design wins valued at $7.1 billion, which is 31 times its revenue over the last 12 months, indicating strong future demand for its products [7]. - The company expects to generate $700 million in annual revenue by 2028, more than three times its projected revenue for 2024, with 72% of the backlog coming from ADAS systems [8]. - Recognition as "Auto Sensor Innovation of the Year" highlights the company's technological advancements and potential for growth as the automotive industry recovers [8].

Revenue Performance - Revenue for the three months ended September 30, 2024 was $54.0 million, a decrease of $6.5 million or 11% compared to $60.5 million for the same period in 2023, primarily due to a $2.1 million decrease in product revenue and a $4.4 million decrease in contract revenue [173]. - Product revenue for the three months ended September 30, 2024 was $51.3 million, representing 95% of total revenue, while contract revenue was $2.7 million, representing 5% of total revenue [173]. - Revenue for the nine months ended September 30, 2024 was $158.7 million, an increase of $5.6 million or 4% compared to $153.0 million for the same period in 2023, primarily driven by a $16.4 million increase in product revenue [184]. - Product revenue for the nine months ended September 30, 2024 was $148.9 million, representing 94% of total revenue, while contract revenue decreased by $10.8 million or 52% to $9.8 million [184]. Operating Expenses - Total operating expenses for the three months ended September 30, 2024 were $103.9 million, an increase of $7.2 million or 7% compared to $96.6 million for the same period in 2023 [175]. - Research and development expenses increased by $4.4 million or 11% to $46.0 million for the three months ended September 30, 2024, primarily due to increased share-based compensation [176]. - Selling, general, and administrative expenses rose by $1.0 million or 5% to $20.8 million for the three months ended September 30, 2024, driven by increased share-based compensation expenses [177]. - Total operating expenses for the nine months ended September 30, 2024 were $294.9 million, an increase of $27.9 million or 10% compared to $266.9 million for the same period in 2023 [186]. - Research and development (R&D) expenses increased by $16.6 million or 14% to $136.9 million for the nine months ended September 30, 2024, primarily due to increased headcount and share-based compensation [187]. - Selling, general, and administrative expenses rose by $5.3 million or 10% to $60.6 million for the nine months ended September 30, 2024, driven by higher personnel costs and share-based compensation [188]. Net Income and Loss - The company recognized a net loss of $5.0 million in other income (expense) for the three months ended September 30, 2024, compared to a gain of $18.1 million for the same period in 2023, reflecting significant changes in fair value of warrants and contingent considerations [180]. - The company reported a net loss of $109.8 million for the nine months ended September 30, 2024, compared to a net loss of $114.2 million for the same period in 2023 [209][210]. Cash Flow and Liquidity - As of September 30, 2024, the company had cash and cash equivalents of $107.2 million, including restricted cash [195]. - For the nine months ended September 30, 2024, net cash used in operating activities was $51.9 million, a decrease of 41% compared to $88.0 million for the same period in 2023 [207][210]. - Net cash used in investing activities decreased significantly to $16.7 million in 2024 from $103.6 million in 2023, primarily due to the Kinetic acquisition and reduced capital expenditures [211]. - Net cash provided by financing activities was $23.5 million for the nine months ended September 30, 2024, down 31% from $34.2 million in 2023 [212][213]. - The company expects to continue incurring net operating losses and negative cash flows as it expands operations and product offerings [205]. Acquisitions and Investments - The acquisition of Kinetic Technologies was completed on January 25, 2024, with an initial cash consideration of $3.2 million and additional contingent considerations totaling $4.6 million based on production and revenue milestones [169]. - The company completed multiple acquisitions, including GEO for $93.4 million in cash and stock, and Silicon Radar for approximately $9.2 million, with additional contingent considerations based on future performance [201][202]. - The company completed the acquisition of certain business properties from Kinetic for a total consideration of $3.2 million in cash, with additional contingent considerations of $2.3 million based on production and revenue milestones [204]. Interest Income and Currency - Interest income for the three months ended September 30, 2024 was $1.0 million, a decrease of $0.9 million or 47% compared to $1.9 million for the same period in 2023 [179]. - Interest income for the nine months ended September 30, 2024 was $3.4 million, a decrease of $2.8 million or 45% from the same period in 2023, primarily due to lower cash balances [190]. - The company has a cumulative foreign currency translation loss of $8.5 million as of September 30, 2024, compared to $20.3 million in 2023, primarily due to fluctuations in exchange rates [219][220]. - The company plans to enter into additional foreign currency forward contracts to mitigate risks associated with currency fluctuations [220]. Future Obligations - Future estimated cash payments due for contractual obligations total $221.8 million, with $20.4 million due within the next year [215]. - The investment portfolio totals approximately $107.2 million as of September 30, 2024, with a focus on liquidity and capital preservation [221].

Indie Semiconductor, Inc. (INDI) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.09, delivering no surprise.Over the last four quarters, the company has not been able to surpass consensus EPS estimates.indie Semiconductor, which belongs t ...

Exhibit 99.1 indie Semiconductor Exceeds Third Quarter 2024 Growth Expectations, Guides Accelerating Fourth Quarter • Delivers Q3 2024 Revenue of $54.0M, up 3.1% Sequentially, with Non-GAAP Gross Margin of 50.4% • Guides Q4 2024 Revenue up more than 7% Sequentially at the Mid-point of $58.0M • Expands Strategic Backlog to $7.1B, up from $6.3B last year, driven by strong ADAS design-win momentum ALISO VIEJO, Calif. – November 7, 2024 – indie Semiconductor, Inc. (Nasdaq: INDI), an automotive solutions innovat ...

News of top executive pay cuts didn't exactly inspire confidence with investors. Indie Semiconductor (INDI -8.92%) shares were jammed in the slow lane as the abbreviated stock trading week kicked off on Tuesday. On news that the assisted-driving chip developer's top executives were subject to severe pay restrictions, investors aggressively traded out of the company. Its stock closed the day almost 9% lower in price, a far steeper fall than the 2.1% slide of the bellwether S&P 500 index. Slimmer paychecks fo ...

Core Insights - The information technology sector has several oversold stocks, presenting potential buying opportunities for undervalued companies [1][2]. Company Summaries - **indie Semiconductor Inc (INDI)**: Reported worse-than-expected Q2 results, with a stock price decline of approximately 37% over the past month and a 52-week low of $3.79. The RSI value is 28.53, and shares closed at $3.89 after a 5.6% drop [3]. - **Ouster Inc (OUST)**: Announced disappointing Q2 sales results and provided lower-than-expected Q3 revenue guidance. The stock has fallen around 46% in the last month, reaching a 52-week low of $3.67. The RSI value is 25.49, with shares closing at $7.24 after a 3.3% decline [4]. - **Super Micro Computer Inc (SMCI)**: Experienced a significant drop of about 36% in stock price over the past month following a short report from Hindenburg Research, with a 52-week low of $226.59. The RSI value is 25.38, and shares closed at $443.49 after a 19% decrease [5].

Indie Semiconductor, Inc. (INDI) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.11 per share a year ago. These figures are adjusted for nonrecurring items. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.10, delivering a surprise of -25%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. indie Semiconductor, which ...

Warren Buffett continued to sell BYD amid tariffs on Chinese EVs in major markets. There has been lots of consternation in the electric vehicle industry these days, as generating demand beyond early EV adopters has been a challenge -- especially in the current interest rate environment. As evidence, Germany's Federal Motor Transport Authority also reported today that the number of newly registered electric vehicles has fallen by 16% this year, with electric vehicle market share falling from 14.3% in the Jan ...

PM Images While indie Semiconductor, Inc. (NASDAQ:INDI) has gotten a boost off the lows from takeover speculation, the stock is still far below the SPAC price from years ago. The automotive semiconductor has a massive opportunity ahead for the cheap stock price and for the company to cash out now. My investment thesis remains ultraBullish on the stock with the opportunity ahead. Source: Finviz Market Headwinds indie Semi. reported a weak quarter at the start of May. The automotive market is facing some shor ...