Indie Semi sees Q2 revenue flat to up 5% sequentially, consensus $60.72M

“For the second quarter of 2024, we expect indie’s revenue to be flat to up 5 percent sequentially, more than offsetting the current market softness stemming from the still ongoing industry-wide inventory rebalancing,” said Thomas Schiller, indie’s chief financial officer and executive vice president of strategy. “At the same time, we are planning on gross margin expansion to the 51 to 52 percent range from a richer product mix, flat expenses and, in turn, a narrower operating loss on a sequential basis. Based on the strength of our new product pipeline and a general market recovery as channel inventory levels normalize, we plan to return to high growth mode in the back half of this year and to resume our industry-leading growth trajectory into 2025 and beyond.”