News

Indie Semiconductor Stock Soars 28% on Solid Revenue Guidance, Improved Q1 Revenue

0

Indie Semiconductor Inc. shares surged 28% after reporting better-than-expected Q1 earnings per share of $0.07 and improved quarterly revenue of $22 million.

Source: Indie Semiconductor

INDI up +26.30%, SMH up +4.54%

The company’s revenue in Q1 surged by 171% from the same quarter a year ago and 16% sequentially to a record of $22 million.

The non-GAAP margin grew by 710 basis points year-over-year and 110 basis points sequentially to 47.4%, better than the company’s estimate of 47% for the quarter.

On a GAAP basis, Q1 operating loss widened to $34.3M compared to $8.1M a year ago, driven by increased customer-driven R&D and marketing investments as well as additional public company infrastructure costs.

Donald McClymont, Chief Executive Officer of Indie, stated that the company is off to a great start in 2022, reporting record first-quarter revenue driven by surging demand for the company’s innovative Autotech solutions.

In the next quarter, the company expects top-line growth of around 172 to 183%, with non-GAAP gross margin expansion into the 48% range.

 

fxcoach

Elon Musk Puts on Hold $44B Twitter Deal, Citing Spam and Fake Accounts Issue

Previous article

US Consumer Sentiment Index Drops to 59.1%, Its Lowest Level Since 2011

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News