indie Semiconductor (INDI) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached $55.5 million, up 3% year-over-year and above guidance midpoint, driven by strong radar and vision program momentum.

• Secured a $25 million production order for Gen8 radar technology from a tier one partner, supporting two major OEMs.

• Vision processor iND880 entered production at NIO and began volume shipments for eMirror camera deployment with major OEMs.

• Launched new products, including the world's first 399nm UV DFB laser for quantum computing and leveraged LIDAR SoC for robotics and AI markets.

• Photonics and LIDAR portfolios are expanding into quantum computing, robotics, and embodied AI markets.

Financial highlights

• Q1 2026 revenue: $55.5 million, up 3% year-over-year and above guidance midpoint.

• Non-GAAP operating loss: $11.1 million, improved from $15.1 million in Q1 2025.

• Net loss: $13.9 million; non-GAAP loss per share: $0.06 on 223 million shares.

• GAAP net loss for Q1 2026 was $43.2 million, or $0.21 per share.

• Total cash and equivalents: $184.7 million, up $29 million from Q4 2025.

Outlook and guidance

• Q2 2026 revenue expected between $59 million and $65 million, midpoint $62 million.

• Core business revenue projected at $37 million, up 8% sequentially and 20% year-over-year; Wuxi indie Micro expected to contribute $25 million.

• Non-GAAP operating expenses expected at $38 million; net loss per share to improve to $0.05.

• Anticipates closing Wuxi divestiture for $135 million later in 2026.