indie Semiconductor, Inc. (INDI) Tops Q1 EPS by 19c

indie Semiconductor, Inc. (NASDAQ: INDI) reported Q1 EPS of $0.07, $0.19 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $22 million versus the consensus estimate of $21.57 million.

Q2 2022 Outlook:

We provide earnings guidance on a non-GAAP basis only because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“Given strong order visibility, set customer ramps and new product launches, we plan to sustainably outpace indie’s addressable markets over the forecast horizon,” said Thomas Schiller, indie’s chief financial officer and executive vice president of strategy. “Specifically, for the second quarter of 2022, we anticipate accelerating top-line growth on the order of 172 to 183 percent year-over-year with non-GAAP gross margin expansion into the 48 percent range. At the mid-point of our revenue guidance, indie will be on a greater than $100 million annualized run-rate. Further, based on our design win momentum and planned operating leverage, we remain on track to achieve profitability in the second half of next year, representing another key milestone toward our target model of 60 percent gross and 30 percent operating margins.”

For earnings history and earnings-related data on indie Semiconductor, Inc. (INDI) click here.

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