Automotive chipmaker reports $55.5 million revenue, secures major radar production order, and expands into quantum and AI-driven applications.
Automotive semiconductor solutions provider indie Semiconductor, Inc. reported first-quarter financial results for the period ending March 31, 2026, posting revenue of $55.5 million and showing continued progress toward profitability.
On a GAAP basis, the company recorded an operating loss of $38.9 million, unchanged from the same quarter last year. However, non-GAAP operating loss improved to $11.1 million compared with $15.1 million a year earlier, reflecting operational efficiencies and strengthening business performance. GAAP loss per share stood at $0.21, while non-GAAP loss per share narrowed to $0.06.
Chief Executive Officer and co-founder Donald McClymont said the company delivered results above the midpoint of its guidance, with revenue growing 3% year over year. He highlighted a new $25 million production order secured from a Tier 1 radar partner, driven by demand from two automotive original equipment manufacturers (OEMs), calling it an important commercial milestone for the company.
During the quarter, indie expanded deployments across several automotive and advanced technology applications. The company began volume shipments of its vision processor to electric vehicle manufacturer NIO for eMirror camera systems and increased production of its iND880 solution for camera mirror platforms with a leading Chinese automaker. indie also introduced a 399-nm ultraviolet distributed feedback laser designed for emerging quantum technology systems.
Beyond automotive applications, indie leveraged its LiDAR system-on-chip technology for advanced mobile robots used by a global logistics company. The firm also secured a perception software design win with Mahindra for its upcoming Electric Origin SUV lineup.
Looking ahead, indie expects second-quarter 2026 revenue to range between $59 million and $65 million, with a midpoint estimate of $62 million. The company anticipates contributions from both its core operations and Wuxi indie Micro subsidiary.
indie Semiconductor will discuss its financial results and business outlook during an analyst conference call scheduled for later today.
