INDIE SEMICONDUCTOR Reports Third Quarter FY2023 Earnings Results on November 9 2023
November 20, 2023
🌥️Earnings Overview
On November 9 2023, INDIE SEMICONDUCTOR ($NASDAQ:INDI) revealed their earnings results for the third quarter of FY2023 which ended on September 30 2023. There was a drastic year-over-year growth of 101.5% in total revenue to USD 60.5 million while net income showed a decrease relative to the prior year’s figure of -37.6 million, at USD -17.1 million.
Price History
On Thursday, November 9, 2023, INDIE SEMICONDUCTOR reported its third quarter FY2023 financial results. The company’s stock opened at $5.2 and closed at $4.9, representing a decrease of 2.4% from the prior day’s closing price of $5.1. The company’s results revealed a growth in its overall revenue for the period, in part due to the strong demand for its semiconductor products in the global market. INDIE SEMICONDUCTOR’s gross margins also improved, resulting in higher gross profit compared to the same quarter in the previous year.
Despite these positive figures, the company’s stock price dropped upon the release of its earnings report — likely due to investor expectations that were not met. The company’s management team is now focusing on strategies to improve its financial performance and increase shareholder value in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Indie Semiconductor. More…
| Total Revenues | Net Income | Net Margin |
| 186.06 | -115.36 | -67.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Indie Semiconductor. More…
| Operations | Investing | Financing |
| -105.91 | -106.63 | 224.32 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Indie Semiconductor. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 819.52 | 406.68 | 2.7 |
Key Ratios Snapshot
Some of the financial key ratios for Indie Semiconductor are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -67.3% |
| FCF Margin | ROE | ROA |
| -63.2% | -19.6% | -9.6% |
Analysis
GoodWhale analyzed INDIE SEMICONDUCTOR‘s financials and our Star Chart classified them as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. This made us more interested in what type of investors may be interested in such companies. After further analysis, we assessed INDIE SEMICONDUCTOR to have an intermediate health score of 4/10 with regard to its cashflows and debt. This indicates that the company might be able to safely ride out any crisis without the risk of bankruptcy. We further identified that INDIE SEMICONDUCTOR is strong in growth, and weak in asset, dividend, and profitability. This is an interesting point to consider when recommending investment options for investors. The company may offer potential growth opportunities but may not be as stable as other options with higher profitability. More…
Peers
The company’s products are used in a variety of electronic devices and systems, including computers, cell phones, and industrial equipment. Indie Semiconductor‘s competitors include Odyssey Semiconductor Technologies Inc, ON Semiconductor Corp, and Infineon Technologies AG.
– Odyssey Semiconductor Technologies Inc ($OTCPK:ODII)
Odyssey Semiconductor Technologies Inc is a global provider of semiconductor solutions. It has a market cap of 12.47M as of 2022 and a return on equity of -124.16%. The company offers a wide range of semiconductor products and services, including integrated circuits, packaging, assembly, and test. It also provides engineering, design, and technical support services. Odyssey Semiconductor Technologies Inc is headquartered in Santa Clara, California.
– ON Semiconductor Corp ($NASDAQ:ON)
ON Semiconductor Corporation is a global semiconductor company that designs, develops, manufactures, and markets a wide range of semiconductor and system solutions for customers in the automotive, industrial, consumer, healthcare, and aerospace and defense markets.
The company’s market cap as of 2022 is 28.31B and its ROE is 34.96%. ON Semiconductor Corporation is a leading provider of semiconductor solutions, serving customers across a wide range of industries with a portfolio of power management, analog, digital, and mixed-signal devices.
– Infineon Technologies AG ($OTCPK:IFNNY)
Infineon Technologies AG is a German semiconductor manufacturer founded in 1999, when a part of the semiconductor operations of the parent company, Siemens AG, were spun off to form Infineon. The company offers a broad range of semiconductor products, including power management and control ICs, sensors, microcontrollers, and RF components. It serves the automotive, industrial, and consumer markets.
As of 2022, Infineon Technologies AG had a market capitalization of 32.9 billion euros and a return on equity of 11.63%. The company is a leading provider of semiconductor solutions, with a strong focus on power management and control ICs, sensors, microcontrollers, and RF components. It serves the automotive, industrial, and consumer markets.
Summary
INDIE SEMICONDUCTOR reported their third quarter financial results for FY2023 on November 9 2023. According to the earnings report, total revenue increased to USD 60.5 million, an increase of 101.5% year over year. Net income decreased to -17.1 million, compared to -37.6 million in the same quarter last year. Investors may want to take a closer look at the revenue growth and evaluate the company’s performance on a longer term basis in order to gauge its potential for investment.
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