Indie Semiconductor reports Q3 EPS (28c), consensus (9c)

Reports Q3 revenue $53.965M, consensus $53.58M. “indie exceeded consensus revenue forecasts in Q3, despite the persisting near-term challenges impacting the automotive industry,” said Donald McClymont, indie’s co-founder and chief executive officer. “Crucially, the market for indie’s innovative portfolio remains strong, driven by the long-term catalysts of advanced driver-assistance systems (ADAS), in-cabin user experience and electrification, consistent with the 12% year-over-year increase in our strategic backlog to $7.1 billion. Our continued design-win momentum has been broad across our extensive product portfolio, particularly in vision and radar, which now comprise over 72% of our strategic backlog. Delivering class-leading solutions and support to our global OEM and Tier 1 customer base ensures that indie remains well-positioned to capture significant value in the rapidly growing automotive semiconductor market opportunity.”