Indie Semiconductor reports Q4 adjusted EPS (1c), consensus (1c)

Reports Q4 revenue $70.1M, consensus $72.56M. “indie continues to outexecute and outperform our industry peer group,” said Donald McClymont, indie’s co-founder and chief executive officer. “We more than doubled our top line for a third consecutive year in 2023 driven by increasing global demand for indie’s highly innovative semiconductor solutions spanning virtually all leading tier ones and vehicle OEMs. Further, we are at the unique intersection of vehicle safety systems, sensor fusion and Artificial Intelligence (AI) towards realizing our vision of the uncrashable car. While we are not immune from the current automotive end market weakness and the industry-wide inventory correction, we remain well positioned to demonstrate earnings power when the market recovers, to capitalize on the strategic Autotech opportunity, led by these exciting new technologies, and most importantly, to create shareholder value.”