indie Semiconductor (INDI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $64 million, up 24% year-over-year and above guidance midpoint, driven by strong product and contract revenue.

• Achieved global OEM adoption and expanding design wins in radar, vision, and photonics, with significant traction in automotive and physical AI markets.

• Launched next-generation Edge AI SoC and vision processor, strengthening the product portfolio and capturing new wins in China.

• Progressing with CMOS image sensor group acquisition from ams-OSRAM AG and Wuxi indie Micro divestiture, both expected to close by year-end.

• Received Supplier Excellence Award from Mahindra for in-cabin software and showcased innovative DMS/OMS solutions.

Financial highlights

• Q2 2026 revenue: $64 million, up 24% year-over-year, with core business contributing $36 million and Wuxi indie Micro $28 million.

• Non-GAAP operating loss: $8.9 million, improved from $14.5 million year-over-year; GAAP operating loss: $35.1 million, down from $43.0 million.

• Net loss attributable to shareholders: $37.1 million ($0.17 per share), improved from $39.0 million ($0.20 per share) year-over-year; Non-GAAP net loss: $11.7 million ($0.05 per share).

• Adjusted EBITDA for Q2 2026 was $(6.5) million, improved from $(12.5) million in Q2 2025.

• Cash and equivalents: $149 million as of June 30, 2026, down sequentially due to operating loss, inventory build, and CapEx.

Outlook and guidance

• Q3 2026 revenue expected between $67 million and $73 million, with core business projected at ~$40 million and Wuxi at ~$30 million.

• Non-GAAP operating expenses forecasted at ~$37 million, down sequentially.

• Net loss per share projected to decrease to ~$0.04, assuming revenue midpoint and 230 million shares.

• Management expects R&D and SG&A expenses to stabilize over time.

• The CMOS imaging sensor acquisition is expected to close in Q3 2026, subject to regulatory approvals.