Industry Dynamics - The semiconductor industry is cyclical, which may limit the company's ability to maintain or improve net sales and profitability[93]. - The company relies heavily on the automotive market, with significant fluctuations in demand impacting revenue and profitability[101]. - Average selling prices of semiconductor products have historically decreased, which could adversely affect revenue and profit margins[99]. - Significant consolidation in the semiconductor industry may create competitive disadvantages for the company[97]. - The semiconductor industry faces continued price erosion, particularly for older technology products, which may impact product margins[110]. - The semiconductor industry is characterized by frequent litigation regarding intellectual property rights, which could result in substantial costs and impact the company's ability to compete[159]. Financial Performance - Total revenue for 2023 reached $223.169 million, a significant increase of 101% compared to $110.797 million in 2022[358]. - The net loss for 2023 was $128.832 million, compared to a net loss of $52.788 million in 2022, indicating a worsening financial position[360]. - Cash and cash equivalents decreased to $151.678 million from $321.629 million in 2022, a decline of 53%[356]. - The company reported a loss from operations of $135.423 million, compared to a loss of $119.128 million in 2022[358]. - Comprehensive loss attributable to indie Semiconductor, Inc. was $111.506 million for 2023, compared to $53.282 million in 2022[360]. Capital and Funding - The company may seek additional capital, which could result in dilution for existing stockholders[89]. - The company may pursue mergers and acquisitions to enhance market coverage, but such transactions carry risks that could adversely affect operations[113]. - The company raised gross proceeds of $53,136,000 from the issuance of 5,219,500 shares of Class A common stock at an average price of $10.18 per share during 2023[373]. - The company has approximately $79,661,000 available for future issuances under the At-The-Market Agreement as of December 31, 2023[373]. Operational Risks - The company depends on third parties for manufacturing, assembly, and testing, exposing it to risks related to supply chain disruptions[106]. - Geopolitical uncertainties and macroeconomic conditions could adversely impact customer demand and disrupt the supply chain[89]. - The company faces challenges in managing future growth, which could strain resources and systems[120]. - The loss of key management or skilled personnel could materially affect product development and overall business performance[121]. - Cybersecurity incidents could result in the misappropriation of proprietary information, with potential significant costs and operational consequences[163]. Regulatory and Compliance - The company is subject to various regulations, and failure to comply could result in investigations, fines, and a diversion of management resources[168]. - The company is now required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, incurring additional compliance costs[209]. - The company faces regulatory uncertainties regarding data protection laws in China, which could impact its operations and financial results[202]. Tax and Financial Obligations - Payments under the Tax Receivable Agreement will require the company to pay 85% of tax benefits related to tax depreciation or amortization deductions, which may be substantial[142]. - The company’s ability to declare and pay dividends may be restricted if ADK LLC does not have sufficient funds to make distributions[141]. - The company may not have sufficient funds to settle the 2027 Notes or to repurchase them upon a fundamental change, which could lead to a default under the indenture[131]. Acquisitions and Investments - The company recorded a developed technology intangible asset valued at $69.33 million following the acquisition of GEO Semiconductor Inc. on March 3, 2023[342]. - The acquisition of GEO Semiconductor Inc. involved $93,448 in cash and the issuance of 6,868,768 shares of Class A common stock valued at $75,556, with additional contingent consideration based on revenue targets[378]. - The acquisition of Silicon Radar GmbH included $9,245 in cash and 982,445 shares of Class A common stock valued at $9,834, with contingent consideration based on revenue milestones[379]. Shareholder Considerations - The weighted average common shares outstanding increased to 145,188,867 from 118,660,785 in 2022, reflecting dilution[358]. - There is a risk that substantial sales of Class A common stock by stockholders could adversely affect the market price of the company's securities[213]. - The company has provisions in its Certificate of Incorporation and Bylaws that may limit stockholders' ability to take certain actions, potentially affecting share price[215].

In today's video, I discuss recent updates affecting Indie Semiconductor (INDI -2.33%). Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were the after-market prices of Feb. 27, 2024. The video was published on Feb. 27, 2024. ...

Financial Data and Key Metrics Changes - The company achieved record revenue of $70.1 million in Q4 2023, representing a 112% year-over-year growth and a 16% sequential increase, despite a challenging market environment [8][18] - Gross margin expanded by 50 basis points year-over-year to 52.7%, with Q4 gross profit amounting to $37 million [8][18] - Operating loss narrowed to $2.4 million compared to a loss of $15.1 million in the same period last year, driven by higher revenue and improved gross margin [26] Business Line Data and Key Metrics Changes - The company continues to gain traction in design wins, particularly in in-cabin monitoring programs with major automotive OEMs such as BMW, Ford, General Motors, and Toyota [13] - New product launches in interior lighting and power management portfolios were introduced to support OEMs' focus on enhancing in-cabin environments [16] Market Data and Key Metrics Changes - The automotive market is experiencing a slowdown, with S&P Global indicating a potential shrinkage in production after a strong 2023, where light vehicle production reached 90 million units [10] - The China e-vehicle market is showing signs of weakness, with a decline in luxury vehicle sales, marking the fifth consecutive month of declines [11] Company Strategy and Development Direction - The company aims to capitalize on the growing demand for advanced driver-assistance systems (ADAS) and innovative Autotech solutions, positioning itself at the intersection of vehicle safety systems and artificial intelligence [12] - A strategic partnership with Ficosa was established to enhance AI-based automotive camera solutions, targeting significant improvements in vehicle safety [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the current market challenges but expressed confidence in a recovery starting in Q2 2024, with expectations for strong growth in Q3 and Q4 [10][30] - The company plans to maintain disciplined cost control while investing in new product development to address increasing demand from Tier 1 and OEM customers [12][20] Other Important Information - The company expects Q1 2024 revenue to be up 38% year-over-year but down 20% sequentially, reflecting seasonality and current industry softness [28] - For the full year 2024, revenue is projected to be in the range of $275 million to $300 million, representing a 29% increase at the midpoint [30] Q&A Session Summary Question: Can you provide insights on the demand weakness across geographies? - Management noted that the primary reason for demand weakness is inventory digestion across the market, with specific challenges in the China EV market [36] Question: Are there broader trends of program delays for future model years? - Management clarified that the program push-out is an isolated incident and not indicative of a broader trend, emphasizing that they are working on multiple programs simultaneously [37] Question: What is the outlook for gross margin moving forward? - Management expects gross margin to expand, projecting a return to growth towards 60% following the Q1 trough [41] Question: What gives confidence for a ramp in Q3 and Q4? - Management highlighted ongoing program ramps and a conservative approach to guidance, indicating confidence in recovery and growth in the second half of the year [50] Question: How does the updated outlook impact cash flow and capital needs? - Management anticipates cash flow usage in the range of $35 million to $40 million until cash generation begins, with a current cash position of over $150 million providing a cushion [55] Question: Can you size the significant design wins in Q4? - Management identified a notable design win with Ficosa, which is among the top five programs in the company's history, supporting two major European OEMs [57]

Exhibit 99.1 indie Semiconductor Achieves Record Fourth Quarter and 2023 Results ALISO VIEJO, Calif. – February 22, 2024 – indie Semiconductor, Inc. (Nasdaq: INDI), an Autotech solutions innovator, today announced fourth quarter and year end results for the period ended December 31, 2023. Fourth quarter revenue was up 112 percent from the same period a year ago and 16 percent sequentially to a record $70.1 million, within the Company's prior guidance range. Non-GAAP gross margin expanded 50 basis points yea ...

ALISO VIEJO, Calif.--(BUSINESS WIRE)--indie Semiconductor, Inc. (Nasdaq: INDI), an Autotech solutions innovator, today announced the promotion of a few outstanding senior executives within the organization. These individuals have demonstrated exceptional leadership, business acumen and automotive industry relationships, and have already made significant contributions to the success of indie in relatively short order. In their new roles, these key management team members will help drive indie’s market outper ...

Surasak Suwanmake/Moment via Getty Images This report shares updated data on over 50 top growth stocks (that Wall Street rates “Strong Buy”), and then reviews 3 names from the list that are particularly interesting. We have a special focus on indie Semiconductor (NASDAQ:INDI), considering it’s benefiting from a massive secular trend, but has sold off hard this year, and Wall Street thinks the shares have nearly 100% upside. After reviewing indie’s business model, its market opportunity, financials, valu ...

ALISO VIEJO, Calif.--(BUSINESS WIRE)--indie Semiconductor (Nasdaq: INDI), an Autotech solutions innovator, plans to conduct a conference call with analysts to discuss its fourth quarter 2023 results and business outlook on February 22, 2024 at 5:00 p.m. Eastern time. After the close of the market on February 22 and prior to the conference call, indie will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on indie’s website at https://investors.indiesemi.com/ ...

Table of Contents INDIE SEMICONDUCTOR, INC. ___________________________________________________________________ (Exact name of registrant as specified in its charter) Delaware 88-1735159 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ___________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECUR ...

indie Semiconductor, Inc. (NASDAQ:INDI) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Ashish Gupta - Investor Relations Don McClymont - Co-Founder and Chief Executive Officer Tom Schiller - CFO and EVP of Strategy Conference Call Participants Suji DeSilva - ROTH MKM Ross Seymore - Deutsche Bank Anthony Stoss - Craig-Hallum Capital Group Craig Ellis - B. Riley Securities Cody Acree - The Benchmark Company Operator Good afternoon and welcome to indie Semiconductor's Third Q ...

indie Semiconductor, Inc. (NASDAQ:INDI) Q2 2023 Earnings Conference Call August 10, 2023 5:00 PM ET Company Participants Ashish Gupta - Investor Relations Donald McClymont - Co-Founder and Chief Executive Officer Tom Schiller - CFO and EVP of Strategy Conference Call Participants Suji DeSilva - Roth Capital Partners Cody Acree - Benchmark Craig Ellis - B. Riley Securities Ross Seymore - Deutsche Bank Anthony Stoss - Craig-Hallum Operator Good afternoon and welcome to indie Semiconductor's Second Quarter 202 ...