Boosted by strong Q2 results and an ADAS push, indie Semiconductor eyes growth with a $20M emotion3D acquisition and new global design wins.
indie Semiconductor (Nasdaq: INDI) has reported stronger-than-expected second-quarter results and outlined plans to enhance its automotive vision portfolio through an acquisition.
For the quarter ended 30 June 2025, revenue reached $51.6 million, with a non-GAAP (non–generally accepted accounting principles) gross margin of 49.1%, both exceeding the company’s mid-point guidance.
Non-GAAP operating loss narrowed to $14.5 million from $17.2 million in the same period last year. On a GAAP basis, the operating loss was $43 million, translating to a loss of $0.20 per share, compared with a $0.08 non-GAAP loss per share.
During the quarter, the company repurchased $30 million of its 2027 convertible notes at a discount. It is also exploring strategic options for its partially-owned Chinese subsidiary, including a potential sale or IPO, as part of efforts to optimise its capital structure.
Chief executive and co-founder Donald McClymont said the results demonstrated resilience in a challenging market. He noted progress in advanced driver-assistance systems (ADAS), with the 77GHz radar platform close to completing global field trials and moving towards production. Cameras powered by indie’s iND880 vision processor have also started shipping for humanoid robotics applications.
Additional highlights from the quarter included the start of iND880 production at a Chinese OEM for a camera monitoring system. The company secured a new design win for occupancy monitoring in an EV platform. Wireless charging adoption expanded at Mahindra, and a new Japanese OEM deal was secured through Tier 1 partner Hosiden.
indie has also entered into an agreement to acquire Vienna-based perception software company emotion3D GmbH. The $20 million cash transaction includes up to $10 million in potential earnouts by 2027. Subject to regulatory approvals, the deal is expected to close in the fourth quarter and be immediately accretive.
For the third quarter of 2025, indie projects revenue between $52 million and $56 million, with a non-GAAP gross margin in the range of 49% to 50%.
