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What were the key takeaways from indie Semiconductor’s earnings call?

- **CFO Appointment**: Naixi Wu brings financial expertise to indie's strategic growth.
- **China Automotive Recovery**: 91 million vehicles sold, driving ADAS adoption.
- **Supply Chain Challenges**: Substrate shortages impacting 2026 production ramp.
- **Quantum Computing Expansion**: $1 million revenue in 2025, targeting $10 million in 2026.
- **Radar Program Growth**: 300,000 units shipped, with second-source manufacturing in China and Taiwan.
- **Wuxi Business Divestment**: Reducing gross margin to 47%, with 2026 revenue outlook of $54-60 million.


**【CEO Opening Remarks】**
- Announced the appointment of Naixi Wu as CFO, highlighting her expertise in financial reporting and leadership in complex transactions.
- Automotive market recovery in China, with 91 million vehicles sold in 2025, driven by ADAS adoption.
- Strategic backlog growth to $7.4 billion, with 400,000 units shipped in Q3.

**【CFO Financial Commentary】
- Q3 revenue of $53.7 million, non-GAAP gross margin of 49.6%, and operating expenses of $37.9 million.
- Supply chain challenges caused a $5 million shortfall in Q4 revenue, with substrate shortages expected to resolve in Q1 2026.
- Wuxi business divestment, contributing to $1.3 billion in strategic backlog.

**【Q&A Highlights】
- Substrate shortage impacting 2026 production ramp, resolved by Q1 2026.
- Quantum computing revenue of $1 million in 2025, with 2026 outlook of $10 million.
- Radar program expansion to 300,000 units, with second-source manufacturing in China and Taiwan.
- Robotics market adoption of vision processors, with 2026 production ramp.
- Wuxi business divestment reducing gross margin to 47%, with 2026 outlook of $54-60 million revenue.


indie Semiconductor, Inc. (INDI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

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Operating Income

Non-Operating Income (Loss)

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Income (Loss) from Associates

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Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

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Current Income Tax

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Income Tax Adjustments

Net Income from Continuing Operations

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Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

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Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

INDI

INDI fundamentals

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