indie Semiconductor Revenue Rises 31% to $70.2 Million in Third Quarter
Key Facts
indie Semiconductor said on November 5, 2026, that third-quarter revenue was $70.2 million, up 31% year over year and above the midpoint of its previous guidance. Chief Executive Donald McClymont said revenue came in above the company’s expectations and that its non-GAAP operating loss narrowed by more than a third. Core-business revenue was $40.7 million, up 14% from the previous quarter. By contrast, shares of the company, which trade under the ticker INDI, closed at $1.36 on November 5, compared with $1.59 in the previous session. The figures show sales growth and an improvement in the adjusted operating loss, while the company continued to post a loss under GAAP.
In August, the company had set a third-quarter revenue range of $67 million to $73 million, with expected year-over-year growth of 30% at the midpoint. Reported revenue came in above the midpoint of that range, and its year-over-year growth also exceeded the rate the company had expected at the midpoint. indie said core-business revenue rose 14% from the previous quarter to $40.7 million. The company’s description indicates that this business grew quarter over quarter, while total revenue exceeded the midpoint of its earlier guidance. McClymont said year-over-year revenue growth was 31%, above expectations.
On operating profitability, the GAAP loss was about $39.0 million in the third quarter, compared with $38.3 million a year earlier. The non-GAAP operating loss was $7.2 million, compared with $11.3 million in the same period a year earlier. The comparison reflects a smaller loss under the adjusted measure, while the loss reported under GAAP widened from a year earlier. The company posted a loss per share of $0.18 under GAAP and $0.05 on the non-GAAP measure. McClymont said the non-GAAP operating loss narrowed by more than a third.
For the next period, indie forecast fourth-quarter 2026 revenue of $73 million to $81 million. It said the midpoint of the range implies year-over-year growth of about 33%. The estimate includes about $47 million from the core business and about $30 million from Wuxi indie Micro at the midpoint. The forecast puts the revenue mix between the core business and the Chinese unit at the center of the company’s outlook for the coming quarter. In August, the company had forecast third-quarter revenue of $67 million to $73 million.
The company said its radar chip entered high-volume production and that one of North America’s top three automakers selected it. It also reported more than 40 vision design wins since the start of 2026, including physical AI applications such as humanoid robots and drones. It said it won electronic mirror and side-mirror designs with major automakers in India and Korea. Developments also include an emotion3D cockpit software program for a vehicle intended for the Australian market, with production set to begin in 2027. indie also said its Photonic SLED optical products were selected for the CHIME satellite program.
The company had scheduled a call to discuss its third-quarter results and business outlook for November 5, 2026, at 5:00 p.m. Eastern Time. It said a recording of the call would be available until 11:59 p.m. Eastern Time on November 19, 2026. The results it announced included third-quarter revenue and operating losses, along with its fourth-quarter outlook. The company also presented updates on its radar, vision, electronic mirror and cockpit software programs. Production tied to the emotion3D program for the Australian market is set to begin in 2027, according to the company.