Indie Semiconductor reports Q1 EPS (19c), consensus (8c)

Reports Q1 revenue $52.4M, consensus $56.17M. “”indie continues to significantly outpace our industry peer group and is capitalizing on technology deployment momentum across the Autotech market,” said Donald McClymont, indie’s co-founder and CEO. “Despite contracting automotive end market units, we produced 29 percent year-over-year top line growth to a record first quarter level, albeit slightly below our guidance. That said, we believe we have passed our trough and expect a resumption of outsized sales growth in the second half of this year driven by new product ramps of our vehicle camera, power distribution and advanced lighting solutions as well as key global flagship car launches, featuring increased indie content. Further, we’re setting the stage for our larger scale computer vision and radar program launches commencing next year.”