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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 announced the granting of equity awards under its 2023 Inducement Incentive Plan to new employees linked to the recent acquisitions of GEO Semiconductor, Inc. and Silicon Radar GmbH. The Compensation Committee of the Board of Directors approved these Inducement Grants. This move is designed to attract and retain key talent essential for indie’s growth in the automotive semiconductor sector, focusing on advanced technologies such as ADAS and electrification.
indie Semiconductor continues to innovate high-performance, energy-efficient solutions and is an approved vendor for major Tier 1 automotive partners worldwide. The company aims to enhance in-cabin experiences while supporting the shift towards automated and electrified vehicles.
indie Semiconductor (Nasdaq: INDI), an innovator in Autotech solutions, plans to hold a conference call on May 11, 2023, at 5:00 p.m. Eastern time to discuss its first quarter 2023 results and business outlook. The earnings press release will be published after market close on the same day and will be accessible via Business Wire and the company's website. Investors can listen to the call by Internet or telephone, using the provided details. A replay will be available from 9:00 p.m. Eastern time on May 11 until 11:59 p.m. Eastern time on May 25, 2023. indie focuses on developing advanced automotive semiconductors and software for applications including ADAS and electrification, partnering with Tier 1 automotive suppliers and OEMs worldwide.
Eyeris Technologies and indie Semiconductor announced a collaboration to integrate Eyeris' monocular 3D sensing AI software with indie's intelligent vision processor. This integration aims to develop advanced in-cabin monitoring solutions for automotive OEMs and Tier-1 manufacturers, enhancing safety and comfort. The technology utilizes a single automotive-grade 2D image sensor to accurately generate in-cabin depth information, improving features like airbag deployment. The partnership allows for the creation of safer airbags and other restraint systems, while indie's processor provides high performance, low power consumption, and a dedicated safety domain controller.
indie Semiconductor has acquired Silicon Radar GmbH, enhancing its automotive radar technology and capabilities. This acquisition, featuring the industry’s first production-ready 120 GHz solution, complements indie's previous purchases of Analog Devices’ and ON Semi’s radar divisions. The deal will allow indie to innovate in integrated radar systems, critical for advanced driver assistance systems (ADAS), addressing the growing demand for high-frequency operation and low power consumption. The radar market is projected to expand from 138 million units in 2023 to 293 million by 2028, presenting a lucrative $6 billion opportunity for radar semiconductors.
indie Semiconductor reported a Q4 2022 revenue of $33.0 million, a 74% increase year-over-year and 10% sequentially, slightly exceeding expectations. The company achieved a non-GAAP gross margin of 52.2%, up 590 basis points year-over-year. For the full year, revenue reached $110.8 million, a 129% increase from 2021. Despite an operating loss of $28.0 million in Q4, the firm aims for a $160 million annualized revenue run-rate in Q1 2023, with projected profitability in the second half of 2023. The company is expanding its design win pipeline in the ADAS and electrification markets, supported by recent investment initiatives.
indie Semiconductor (Nasdaq: INDI) has announced a definitive agreement to acquire GEO Semiconductor, a leader in video processors for automotive cameras, for $180 million. This acquisition, expected to close in Q1 2023, enhances indie's Image Processing program by integrating camera-based solutions into its Advanced Driver-Assistance Systems (ADAS) portfolio. The deal is projected to add $40 million in revenue for 2023 and is anticipated to be accretive to earnings. indie reaffirmed its Q4 2022 guidance, projecting a 129% increase in annual revenue, and will provide further details on the transaction in its next earnings call on February 16, 2023.
Altus Power, Inc. (NYSE: AMPS) has appointed Diane Brink to its Board of Directors, effective immediately. Brink will chair the Compensation Committee and serve on the Audit Committee. With over 35 years of experience at IBM, including her role as Chief Marketing Officer, Brink's expertise in digital transformation and customer experience is expected to enhance Altus' mission of creating a clean electrification ecosystem. She replaces Sharon Daley, who resigned on January 18, 2023, to pursue other opportunities. Brink will serve until the 2025 annual meeting, continuing Altus Power's commitment to solar facility development.
indie Semiconductor (NASDAQ: INDI) will hold a conference call on February 16, 2023 at 5:00 p.m. Eastern time to discuss its fourth quarter 2022 results and business outlook. The earnings press release will be issued after the market closes on the same day and available on indie's website. Investors can listen to the call online or via telephone. A replay will be accessible from 9:00 p.m. Eastern time on February 16 until 11:59 p.m. Eastern time on March 2, 2023. indie focuses on automotive semiconductors and software platforms, vital for electric and autonomous vehicles, with partnerships among major automotive manufacturers globally.
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