indie Semiconductor Q3 Revenue Rises 31%, Q4 Midpoint at $77 Million

indie Semiconductor Inc. (NASDAQ: INDI) reported third-quarter fiscal 2026 revenue of $70.2 million, up 31% from a year earlier, as radar products entered volume production and the company recorded broad-based growth. The automotive technology supplier also narrowed its non-GAAP operating loss and projected fourth-quarter revenue of $73 million to $81 million.

Revenue for the three months ended September 30 rose from $53.7 million in the prior-year period and exceeded the midpoint of the company’s outlook. GAAP cost of goods sold increased to $47.9 million from $32.2 million, including $6.9 million of amortization, share-based compensation and acquisition-related expenses.

The GAAP operating loss was $39.0 million, compared with $38.3 million a year earlier. Excluding share-based compensation, intangible-asset amortization and certain acquisition-related expenses, the non-GAAP operating loss narrowed to $7.2 million from $11.3 million.

indie posted a GAAP net loss of $39.9 million, versus $40.7 million in the year-ago quarter. Its non-GAAP net loss narrowed to $10.3 million from $13.3 million, while the non-GAAP loss attributable to indie Semiconductor was $11.6 million, or $0.05 per share. Adjusted EBITDA remained negative at $4.6 million but improved from a loss of $9.1 million a year earlier.

The company ended the quarter with $144 million in cash, cash equivalents and restricted cash.

Design wins broaden beyond automotive applications

indie said it secured more than 40 vision design wins during the first nine months of 2026, including programs for physical-AI applications such as humanoid robots and drones. It also won electronic-mirror and side-view mirror designs at major Indian and Korean automakers.

The company’s emotion3D in-cabin software was selected for an Australian-market vehicle scheduled to begin production in 2027. indie also highlighted record quantum revenue and bookings, including its largest continuous-variable quantum key distribution order and two contracts for integrated-laser non-recurring engineering work. Its photonic superluminescent diode products were selected for the CHIME satellite space program.

Fourth-quarter revenue midpoint set at $77 million

For the fourth quarter of fiscal 2026, management expects revenue of $73 million to $81 million, with a midpoint of $77 million. The forecast comprises $47 million from indie’s core business and $30 million from Wuxi.

The company expects non-GAAP operating expenses of approximately $37.5 million, about $1 million higher sequentially, and non-GAAP net interest expense of roughly $3.4 million. Management projected a non-GAAP net loss of $0.04 per share, assuming no tax expense and 240 million shares outstanding.

The outlook remains subject to several uncertainties identified by the company, including macroeconomic conditions, reliance on outsourced manufacturing and semiconductor capacity, pricing pressure, design-win execution, trade restrictions and geopolitical instability. indie also cited risks surrounding the pending sale of its equity interest in Wuxi, the proposed acquisition of ams-OSRAM’s CMOS image sensor business, and its ability to integrate acquired operations and realize expected benefits.