Welcome to our dedicated page for indie Semiconductor news (Ticker: INDI), a resource for investors and traders seeking the latest updates and insights on indie Semiconductor stock.
Indie Semiconductor, Inc. (symbol: INDI) is a pioneering company in the field of automotive semiconductors and software platforms. With a core focus on custom microcontroller-based chips, indie Semiconductor replaces the traditional printed circuit board components with a single, optimized System-on-Chip (SoC). This innovative approach not only reduces product cost, size, and power consumption but also enhances reliability, manufacturability, and security.
The company specializes in mixed-signal design and is known for its ability to integrate new designs quickly and cost-effectively. Indie Semiconductor's strengths lie in delivering high-volume production, with millions of units shipped monthly. The firm's impressive growth trajectory is supported by its cutting-edge technologies and strategic market positioning.
Empowering the Autotech revolution, indie Semiconductor offers next-generation automotive semiconductors and software platforms. The company's products focus on edge sensors for advanced Driver Assistance Systems (ADAS), including LiDAR, connected car solutions, user experience enhancements, and electrification applications. These technologies are vital to the development of electric and autonomous vehicles, providing advanced user interfaces that seamlessly connect in-cabin experiences to mobile platforms.
Geographically, indie Semiconductor generates the majority of its revenue from Greater China, while also having significant market presence in the United States, Europe, South Korea, and other regions. Their rapid growth is driven by robust demand for their innovative solutions that are shaping the future of the automotive industry.
indie Semiconductor (NASDAQ: INDI) has priced its private offering of $190 million 3.50% Convertible Senior Notes due 2029, upsized from the initially announced $175 million. The company granted initial purchasers a 13-day option to purchase an additional $28.5 million in notes.
The notes will be convertible into cash, shares, or a combination thereof at an initial conversion rate of 194.6188 shares per $1,000 principal amount, equivalent to $5.14 per share, representing a 27.5% premium to the December 3 closing price. The company expects net proceeds of approximately $183.3 million, with $20.3 million allocated for capped call transactions to reduce potential dilution. The remaining proceeds will be used for working capital and general corporate purposes.
indie Semiconductor (NASDAQ: INDI) announced plans to offer $175 million in Convertible Senior Notes due 2029 through a private offering to qualified institutional buyers. The company will grant initial purchasers an option for an additional $26.25 million in notes. The notes will be convertible into cash, shares of indie's Class A common stock, or a combination thereof. indie plans to enter into capped call transactions to reduce potential stock dilution and will use the proceeds for working capital, general corporate purposes, and potential acquisitions.
indie Semiconductor (INDI) has launched a system basis safety integrated chip solution for vehicle powertrain applications, developed with a leading European Tier 1 automotive system integrator. The IC has received ASIL-D certification from SGS-TÜV Saar, the highest safety level under ISO 26262 standard. The solution features multiple safety measures including voltage monitoring, logic function error monitoring, and window watchdog functionality. First production deployments are expected in H2 2025. This achievement strengthens indie's position in automotive safety, user experience, and electrification markets.
indie Semiconductor (Nasdaq: INDI) has expanded its photonics capabilities by adding in-house photonics integration, packaging, and system test capabilities. This enhancement allows the company to offer complete photonics sub-systems for rapid solution evaluation, pre-production validation, and low volume production. The development targets automotive applications including ADAS sensing, head-up displays, and gyroscopes. According to S&P Global Mobility, the automotive optical components market was valued at $6.5 billion in 2023 and is projected to reach $9.2 billion by 2030. First production deployments are expected in the first half of 2025.
indie Semiconductor (INDI) reported Q3 2024 revenue of $54.0M, up 3.1% sequentially, with Non-GAAP gross margin of 50.4%. The company expanded its strategic backlog to $7.1B, up from $6.3B last year, driven by ADAS design-win momentum. Vision and radar solutions now comprise over 72% of the strategic backlog. Q3 GAAP operating loss was $49.9M, with Non-GAAP operating loss at $16.8M. The company expects Q4 2024 revenue to increase by more than 7% sequentially to $58.0M at mid-point, anticipating return to industry-leading growth trajectory in 2025.
indie Semiconductor (Nasdaq: INDI) has announced its executive management's participation in four upcoming investor conferences. The events include the 15th Annual Craig-Hallum Alpha Select Conference on November 19, 2024, in New York, the 13th Annual ROTH Technology Conference on November 20, 2024, also in New York, the virtual Furey Research Partners Hidden Gems Conference on November 26, 2024, and the 27th Annual Needham Growth Conference from January 14-15, 2025, in New York.
indie Semiconductor (Nasdaq: INDI) announces significant design-win momentum for its iND880 camera video processor system-on-chip (SoC) family, which has been recognized as 'Auto Sensor Innovation of the Year' by AutoTech Breakthrough Awards. The iND880 SoC family addresses limitations in current vision processors, enabling OEMs to meet active safety mandates and consumer demands for increased vehicle automation.
Key features of the iND880 include high-dynamic range performance, class-leading low-light capability, and low-latency real-time processing. The solution eliminates the need for external DRAM, offering cost-effective ADAS capabilities across diverse vehicle portfolios. Currently sampling with multiple global OEM and Tier 1 customers, the iND880 is planned for vehicle deployment in 2025.
indie Semiconductor (Nasdaq: INDI), an automotive solutions innovator, has announced its plans for the third quarter 2024 earnings release and conference call. The company will discuss its Q3 2024 results and business outlook on November 7, 2024, at 5:00 p.m. Eastern time. Prior to the call, indie will issue an earnings press release via Business Wire after market close on the same day. The release will also be available on the company's investor relations website.
Interested parties can access the conference call via the internet through indie's website or by phone. The call-in numbers are (877) 451-6152 (domestic) and (201) 389-0879 (international), with Conference ID: 13747703. A replay of the call will be available from 9:00 p.m. Eastern time on November 7 until 11:59 p.m. Eastern time on November 21, 2024, accessible through the company's website or by phone.
indie Semiconductor (Nasdaq: INDI), an automotive solutions innovator, has announced the granting of equity awards under its 2023 Inducement Incentive Plan to new employees. These Inducement Grants were previously approved by the company's Compensation Committee of the Board of Directors. The announcement aims to provide transparency regarding employee compensation and incentives. Detailed information about the equity awards is available on indie Semiconductor's investor relations website.
indie Semiconductor (Nasdaq: INDI) has unveiled the iND87204, a next-generation automotive wireless charging system-on-chip (SoC) compliant with the Qi 2.0 standard and supporting the new Magnetic Power Profile (MPP) feature. This Qi2-compliant solution delivers up to 15 watts of power and integrates multiple Arm® Cortex® processors for enhanced functionality.
The iND87204 aims to meet the growing demand for in-vehicle wireless charging, with the global market estimated at $1.9 billion in 2024 and projected to reach $13.6 billion by 2034, representing a 21.9% CAGR. The SoC offers significant bill of materials savings and simplifies implementation, potentially reducing the footprint and external components by up to 50% compared to existing solutions.
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