Indie Semiconductor says target scaling into $240M revenue run-rate in Q3

The company states: “Based on strong order flow and the depth of our design win pipeline, we plan to continue to deliver outsized top line growth over the forecast horizon, towards our 60 percent gross and 30 percent operating margin target model,” said Thomas Schiller, indie’s chief financial officer and executive vice president of strategy. “In the meantime, for the third quarter of 2023, we intend to scale into a $240 million annualized revenue run-rate, up 100 percent year-over-year and 15 percent sequentially as well as up more than 10-fold versus our 2020 revenue level, with further non-GAAP gross margin improvement, yielding a narrower operating loss. Perhaps most importantly, we remain on track to achieve non-GAAP operating income in the fourth quarter of this year, driven by sustained sales growth, gross margin expansion and operating expense leverage.”