indie Semiconductor, Inc.
- Open
- 3.75
- Day high
- 4.40
- Day low
- 3.70
- Prev close
- 3.76
- Volume
- 5.5M
- Mkt cap
- $1.0B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.1
- P/S
- 4.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$7.9M over the last 3 months (0 open-market buys, 31 sales)
- 🏛Institutions mixed (13F)
indie Semiconductor, Inc. (INDI) is a Technology company listed on NASDAQ. The stock is up 23% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 31 sales (SEC Form 4).
indie Semiconductor, Inc. (INDI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
INDI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.06 | $-0.06 | +0.0% | $55M | +0.7% |
| Feb 19, 2026 | $-0.07 | $-0.07 | +0.0% | $58M | -4.0% |
| Nov 6, 2025 | $-0.06 | $-0.07 | -16.7% | $54M | -6.0% |
| Aug 7, 2025 | $-0.08 | $-0.08 | +0.0% | $52M | +0.3% |
| Feb 20, 2025 | $-0.07 | $-0.07 | +0.0% | $58M | -0.3% |
| Nov 7, 2024 | $-0.09 | $-0.09 | +0.0% | $54M | -7.3% |
| Aug 8, 2024 | $-0.09 | $-0.09 | +0.0% | $52M | -22.7% |
| May 9, 2024 | $-0.08 | $-0.10 | -25.0% | $52M | -6.8% |
| Feb 22, 2024 | $-0.01 | $-0.01 | -9.4% | $70M | -3.3% |
| Nov 9, 2023 | $-0.08 | $-0.08 | +0.0% | $60M | -16.7% |
| Aug 10, 2023 | $-0.09 | $-0.11 | -22.2% | $52M | -13.2% |
| May 11, 2023 | $-0.12 | $-0.10 | +16.7% | $40M | -22.2% |
INDI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 17, 2026 | McClymont Donalddirector, officer: Chief Executive Officer | Sell | 50,000 | $4.19 |
| Jun 17, 2026 | McClymont Donalddirector, officer: Chief Executive Officer | Option | 50,000 | — |
| Jun 5, 2026 | Wittmann Michaelofficer: Chief Operating Officer | Sell | 39,645 | $4.80 |
| Jun 3, 2026 | ALDRICH DAVID Jdirector | Grant | 4,621 | — |
| Jun 3, 2026 | Wu Naixiofficer: Chief Financial Officer | Option | 12,898 | — |
| Jun 3, 2026 | Wu Naixiofficer: Chief Financial Officer | Sell | 6,652 | $5.12 |
| Jun 3, 2026 | Wittmann Michaelofficer: Chief Operating Officer | Sell | 24,734 | $5.13 |
| Jun 3, 2026 | Brink Diane Ddirector | Option | 2,311 | — |
| Jun 3, 2026 | Aoki Ichirodirector, officer: President | Sell | 200,000 | $5.19 |
| Jun 3, 2026 | McClymont Donalddirector, officer: Chief Executive Officer | Sell | 9,425 | $5.12 |
| Jun 3, 2026 | McClymont Donalddirector, officer: Chief Executive Officer | Grant | 18,288 | — |
| Jun 3, 2026 | Aoki Ichirodirector, officer: President | Grant | 1,541 | — |
| Jun 3, 2026 | McClymont Donalddirector, officer: Chief Executive Officer | Option | 18,288 | — |
| Jun 3, 2026 | OWENS JEFFREY Jdirector | Option | 1,926 | — |
| Jun 3, 2026 | Brink Diane Ddirector | Grant | 2,311 | — |
Source: INDI SEC Form 4 filings, latest Jun 17, 2026. For informational purposes only — not investment advice.
See the full INDI insider & 13F page →indie Semiconductor, Inc. company profile
Overview
indie Semiconductor, Inc. (NASDAQ:INDI) is a California-based automotive semiconductor company founded in 2007 and headquartered in Aliso Viejo. The company went public in 2019 and has positioned itself as a provider of advanced semiconductor solutions for the rapidly evolving automotive industry, particularly focusing on autonomous driving technologies, connected vehicle systems, and enhanced user experiences. Since its inception, indie has shipped over 500 million chips and has grown through strategic acquisitions including GEO Semiconductor, Silicon Radar, and TeraXion to build a comprehensive portfolio of automotive semiconductor solutions.
Business
indie Semiconductor operates in the automotive semiconductor industry, which involves designing and manufacturing specialized computer chips that power various electronic systems in modern vehicles. The automotive semiconductor market is experiencing rapid growth as cars become increasingly computerized, with semiconductor content per vehicle expected to exceed $1,000 by 2025. The company's core business revolves around three major automotive technology trends. Advanced Driver Assistance Systems (ADAS) represents indie's largest segment, accounting for approximately 72% of their $7.1 billion strategic backlog. ADAS encompasses safety technologies that help prevent accidents, such as automatic emergency braking, lane departure warnings, and collision avoidance systems. These systems rely on various sensors including radar, cameras, LiDAR, and ultrasonic sensors to detect obstacles, pedestrians, and other vehicles. In-cabin user experience solutions form the second major segment, focusing on technologies that enhance passenger comfort and convenience. This includes ambient LED lighting systems that create customizable interior atmospheres, wireless charging pads for smartphones, infotainment systems, and in-cabin monitoring solutions that can detect driver drowsiness or ensure child safety. Electrification applications represent the third segment, providing semiconductor solutions specifically designed for electric and hybrid vehicles. These chips manage power distribution, battery systems, and charging infrastructure. indie's unique positioning lies in its ability to provide all four major ADAS sensor technologies - radar, computer vision, LiDAR, and ultrasonic sensors - through a unified platform approach. The company's iND880 vision processor handles computer vision applications, while their 77 GHz and 120 GHz radar solutions provide different ranges of object detection capabilities. Their photonics division develops optical components for LiDAR systems and other optical sensing applications.
Revenue model
indie Semiconductor generates revenue primarily through product sales of semiconductor chips and integrated solutions to automotive suppliers and original equipment manufacturers (OEMs). The company operates on a fabless model, meaning they design the chips but outsource manufacturing to specialized foundries, which is common in the semiconductor industry. The company's customers include major automotive suppliers like Bosch, Valeo, and Ficosa, as well as direct relationships with OEMs including General Motors, Toyota, Mercedes, BYD, and various Korean and Chinese automotive manufacturers. Revenue is generated when these customers purchase indie's chips for integration into their automotive systems, which are then installed in vehicles during manufacturing. indie's business model benefits from several factors that can increase margins. The company targets higher-margin ADAS applications, which command premium pricing due to their safety-critical nature and advanced functionality. As production volumes scale up, manufacturing costs decrease due to economies of scale. The shift toward electric vehicles and increasing regulatory requirements for safety features (such as NHTSA and EU Intelligent Speed Assist regulations) drive demand for indie's products. However, several factors can pressure margins. The automotive industry is highly cyclical and sensitive to economic downturns, which can reduce vehicle production and delay new technology adoption. Competitive pressure from larger semiconductor companies like Qualcomm, NVIDIA, and traditional automotive chip suppliers can impact pricing. Supply chain disruptions and foundry capacity constraints can increase manufacturing costs. Additionally, the trend toward "de-featuring" vehicles during economic uncertainty - where manufacturers reduce semiconductor content to lower vehicle prices - can temporarily reduce demand for advanced features. The company's long design-win cycles, typically spanning 3-5 years from initial engagement to production, provide revenue visibility but also mean that market share gains or losses take time to materialize in financial results.
Competitive moat
indie Semiconductor's competitive moat is moderate but developing, built primarily around its comprehensive sensor fusion platform and specialized automotive expertise. The company's key differentiator lies in being one of the few providers capable of offering all four major ADAS sensor technologies (radar, vision, LiDAR, ultrasonic) through a unified software backend, which simplifies integration for automotive suppliers and OEMs. The automotive semiconductor industry has high barriers to entry due to stringent safety certification requirements, long qualification cycles, and the need for deep automotive domain expertise. indie has achieved ASIL-D certification - the highest automotive functional safety level - which represents years of development and testing. This certification creates switching costs for customers and demonstrates the company's technical capabilities. However, indie's moat faces significant challenges. The company competes against much larger, well-resourced players including NVIDIA, Qualcomm, Intel's Mobileye, and established automotive chip suppliers like Infineon and NXP. These competitors have greater financial resources, broader product portfolios, and deeper customer relationships. The rapid evolution of autonomous driving technology also creates risk that indie's current solutions could become obsolete if new approaches gain adoption. The company's relatively small size (approximately $54 million quarterly revenue) compared to automotive giants means it lacks the scale advantages of larger competitors. Additionally, the automotive industry's trend toward vertical integration, where OEMs develop their own chips, could reduce the addressable market for independent suppliers like indie. indie's strategic backlog of $7.1 billion provides some protection through long-term customer commitments, but these relationships are not exclusive and customers can shift to competitors for future generations of products. The company's success depends heavily on continued innovation and execution in a rapidly evolving, highly competitive market.
Risks & safety
indie Semiconductor presents moderate financial risk with adequate liquidity but ongoing profitability challenges. **Liquidity and Solvency:** - Strong cash position of $237 million provides substantial runway - Current ratio of 5.3x indicates excellent short-term liquidity - Debt-to-equity ratio of 0.06 shows minimal debt burden - Quarterly cash burn of approximately $30-35 million (free cash flow basis) - At current burn rate, cash provides roughly 7-8 quarters of runway **Profitability Metrics:** - Negative EBITDA of -$22 million in Q1 2025 - Company targeting breakeven at $65 million quarterly revenue (versus current $54 million) - Gross margins healthy at ~50%, indicating viable unit economics - Operating leverage potential as revenue scales **Valuation Considerations:** - Trading at 0.9x price-to-book ratio, below tangible book value - Negative earnings make P/E ratio meaningless - EV/Revenue multiple appears reasonable given growth trajectory - Strategic backlog of $7.1 billion provides revenue visibility **Other Risks:** - Heavy R&D spending required to stay competitive in rapidly evolving market - Cyclical automotive industry exposure - Execution risk on multiple product ramps planned for 2025-2026
Recent development
Over the past few years, indie Semiconductor has undergone significant strategic evolution, transforming from a smaller automotive chip supplier into a comprehensive ADAS solutions provider through aggressive expansion and acquisitions. The company completed several key acquisitions including GEO Semiconductor (computer vision), Silicon Radar (radar technology), and TeraXion (photonics), which collectively enabled their current sensor fusion platform approach. The company has made substantial progress in product development, achieving major milestones including their first ASIL-D safety certification - the highest automotive functional safety standard. Their iND880 vision processor has secured design wins with Korean OEMs for electric vehicle platforms, while their 77 GHz radar program is progressing toward late 2025 production launch. The newer 120 GHz radar solution for occupant monitoring has received positive customer feedback and represents expansion into in-cabin safety applications. indie has significantly expanded its strategic backlog from $2.6 billion in 2021 to $7.1 billion currently, with notable design wins across global OEMs including General Motors, Toyota, Mercedes China, BYD, and partnerships with major suppliers like Bosch, Valeo, and Ficosa. The geographic diversification is notable, with approximately 80% of backlog outside China, spanning U.S., European, Japanese, and Korean markets. In response to challenging automotive market conditions in 2024-2025, indie initiated a comprehensive restructuring program to reduce quarterly operating expenses by $8-10 million while maintaining investment in strategic ADAS programs. The company also strengthened its balance sheet by issuing $218.5 million in convertible notes in December 2024, providing additional financial flexibility for potential acquisitions and continued R&D investment. The company's strategic focus has sharpened around becoming the leading provider of sensor fusion solutions, positioning itself as one of the few companies capable of providing all four major ADAS sensor technologies through a unified platform.
INDI company profile · for informational purposes only — not investment advice.
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