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indie Semiconductor (INDI) investor relations material

indie Semiconductor Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary6 Nov, 2025

Executive summary

  • Q3 2025 revenue was $53.7 million, with non-GAAP gross margin at 49.6% and improved non-GAAP operating loss of $11.3 million, showing progress toward profitability.

  • Strategic backlog increased to $7.4 billion, driven by new business wins in ADAS, quantum computing, and robotics.

  • Announced appointment of Naixi Wu as CFO, reflecting strong internal leadership succession.

  • Closed acquisition of emotion3D, enhancing AI perception software for automotive and in-cabin sensing applications.

  • Entered agreement to sell Wuxi Indie Micro for $135 million, representing 43% of Q3 revenue, expected to improve margin profile and strengthen balance sheet.

Financial highlights

  • Q3 2025 revenue: $53.7 million (down 1% year-over-year); non-GAAP gross margin: 49.6%; GAAP gross margin: 40%.

  • Non-GAAP operating loss: $11.3 million; GAAP operating loss: $38.3 million, improved from $49.9 million a year ago.

  • Net loss for Q3 2025: $13.3 million non-GAAP, $40.7 million GAAP; net loss per share: $0.07 non-GAAP, $0.19 GAAP.

  • Cash and equivalents at quarter-end: $171.2 million.

  • R&D expenses decreased 17% year-over-year in Q3, reflecting restructuring benefits.

Outlook and guidance

  • Q4 2025 revenue expected between $54 million and $60 million, midpoint $57 million, with a $5 million shortfall due to substrate shortages.

  • Q4 Non-GAAP gross margin expected at 47% due to unfavorable product mix and Wuxi margin pressure.

  • Q4 Non-GAAP OpEx forecasted at $36.5 million, down $1.5 million from Q3.

  • Net loss per share expected at $0.07 for Q4, assuming 220 million shares.

  • Supply chain disruptions expected to resolve in Q1 2026.

Elaborate on $7.4B backlog conversion risks
Reconcile cash burn with profitability progress
Project revenue impact of new design wins and markets
Substrate shortage impact on Q1 2026 revenue?
Radar second sourcing OpEx drivers?
Backlog contribution from new markets?
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Frequently asked questions

indie Semiconductor, Inc. offers automotive semiconductors and software solutions for connected car, user experience, and electrification applications. Our products are also used in advanced driver assistance systems (ADAS). We believe our indium-gallium nitride (InGaN) based buffers, automotive chipsets, and signal integrity solutions enable ultra-low power, high performance and cost effective solutions for many markets including infotainment, telematics, instrument clusters/dashes, general lighting & powertrain control.

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