Indie Semiconductor, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 09, 2024 at 04:57 pm EDT
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indie Semiconductor, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 52.35 million compared to USD 40.45 million a year ago. Net loss was USD 31.18 million compared to USD 72.75 million a year ago.
Basic loss per share from continuing operations was USD 0.19 compared to USD 0.55 a year ago. Diluted loss per share from continuing operations was USD 0.19 compared to USD 0.55 a year ago.
indie Semiconductor, Inc. offers automotive semiconductors and software solutions for advanced driver assistance systems (ADAS), driver automation, in-cabin, user experience (including connected car) and electrification applications. The Company is focused on edge sensors across multiple modalities spanning light detection and ranging (LiDAR), radar, ultrasound and computer vision. It is an approved vendor to Tier 1 automotive suppliers and its platforms can be found in marquee automotive manufacturers around the world. It has design centers in Austin, Texas; Boston, Massachusetts; Detroit, Michigan; San Francisco and San Jose, California; Cordoba, Argentina; Budapest, Hungary; Dresden, Frankfurt an der Oder, Munich and Nuremberg, Germany; Edinburgh, Scotland; Schlieren, Switzerland; Rabat, Morocco; Haifa, Israel; Quebec City and Toronto, Canada; Seoul, South Korea; Tokyo, Japan, and several locations throughout China. The Company is engaged subcontractors to manufacture its products.