-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSoldering Technologies
Soldering is the heartbeat of assembly, and new developments are taking place to match the rest of the innovation in electronics. There are tried-and-true technologies for soldering. But new challenges in packaging, materials, and sustainability may be putting this key step in flux.
The Rise of Data
Analytics is a given in this industry, but the threshold is changing. If you think you're too small to invest in analytics, you may need to reconsider. So how do you do analytics better? What are the new tools, and how do you get started?
Counterfeit Concerns
The distribution of counterfeit parts has become much more sophisticated in the past decade, and there's no reason to believe that trend is going to be stopping any time soon. What might crop up in the near future?
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
indie Semiconductor Exceeds Q3 2024 Growth Expectations, Guides Accelerating Q4
November 12, 2024 | indie SemiconductorEstimated reading time: 2 minutes
indie Semiconductor, Inc., an automotive solutions innovator, announced third quarter results for the period ended September 30, 2024. Third quarter 2024 revenue increased 3.1% sequentially to $54.0 million, above the mid-point of the outlook with Non-GAAP gross margin up sequentially to 50.4 percent. On a GAAP basis, third quarter 2024 operating loss was $49.9 million compared to $136.2 million a year ago. Non-GAAP operating loss for the third quarter of 2024 was $16.8 million, versus $13.0 million during the same period last year. Third quarter 2024 GAAP loss per share was $0.28, while Non-GAAP loss per share was $0.09.
“indie exceeded consensus revenue forecasts in Q3, despite the persisting near-term challenges impacting the automotive industry," said Donald McClymont, indie's co-founder and chief executive officer. “Crucially, the market for indie’s innovative portfolio remains strong, driven by the long-term catalysts of advanced driver-assistance systems (ADAS), in-cabin user experience and electrification, consistent with the 12% year-over-year increase in our strategic backlog to $7.1 billion. Our continued design-win momentum has been broad across our extensive product portfolio, particularly in vision and radar, which now comprise over 72% of our strategic backlog. Delivering class-leading solutions and support to our global OEM and Tier 1 customer base ensures that indie remains well-positioned to capture significant value in the rapidly growing automotive semiconductor market opportunity.”
Business Highlights
- Expanded strategic backlog to $7.1 billion, driven by new ADAS program wins
- Flagship ADAS programs in customer homologation, are on track for 2025 volume shipments
- Secured design-win for LiDAR optical engine and photonics module program
- Captured design-win for Vision processor in Avatr12 EV, a leading Chinese OEM
- Extended ambient lighting design-wins in China, across Xiaomi, Avatr, BYD & Li Auto models
- Secured multiple wins for a large North American EV maker with high-performance custom networking solutions
Q4 2024 Outlook
We provide guidance on a non-GAAP basis only because certain information necessary to reconcile such results and guidance to GAAP is difficult to estimate and dependent on future events outside of our control and, therefore, is not available without unreasonable efforts. Please refer to the header captioned “Discussion Regarding the Use of Non-GAAP Financial Measures” in this release for a further discussion of our use of non-GAAP measures.
“For the fourth quarter of 2024, we expect indie’s revenue to increase by more than 7 percent sequentially at the mid-point, once again outpacing the industry,” said Raja Bal, indie’s chief financial officer. “Based upon the continuing strong design-win activity for indie’s new radar and vision products, we anticipate a return to our industry-leading growth trajectory in 2025 and beyond.”
Suggested Items
Growth Unfolds: The First of STARTEAM’s Trio of Factories Set to Expand
12/05/2024 | STARTEAM GLOBALSTARTEAM is thrilled to share news of our upcoming 3-step expansion at JST, with each step adding 50,000m² per month which began on May 27, 2024. This carefully planned extension is designed to significantly increase our production capacity and expand our talented team. Currently, our production space covers 30,000m². Through this expansion, we are setting our sights on incrementally increasing our capacity from 70,000m²/month to a remarkable 130,000m²/month.
American Standard Circuits Earns IATF 16949 Automotive Re-Certification
12/05/2024 | American Standard CircuitsAnaya Vardya, President and CEO of American Standard Circuits and ASC Sunstone has announced that his company’s West Chicago Division has passed their recent IATF 16949 Automotive re-certification.
Consumer Electronics Manufacturing Market to Surge Valuation Set to Hit $4,267 Billion by 2034 at 9.5% CAGR
12/05/2024 | Globe NewswireAccording to a new study published by Fact.MR, a market research and competitive intelligence provider, the worldwide Consumer Electronics Manufacturing Market is projected to increase from a value of US$ 1,727.94 billion in 2024 to US$ 4,267.27 billion by the end of 2034.
EpoxySet to Exhibit at MD&M West
12/05/2024 | epoxySetEpoxySet Inc. will be exhibiting at MD&M West on February 4-6, 2025 in the Anaheim Convention Center, booth 617.
TTM Technologies to Exhibit at the 2024 International Electronics Circuit Exhibition in Shenzhen, China
12/04/2024 | Globe NewswireTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies and printed circuit boards (PCBs), announces that it will exhibit at the 2024 International Electronics Circuit Exhibition (Shenzhen).